Gold Outlook Report 2023

401(k) Hardship Withdrawals Hit Record High The AI bubble and data center buildout have helped catapult equity markets to new highs (pre-Middle East conflict), minting a record number of 401(k) millionaires. However, beneath the surface, hardship withdrawals from 401(k) plans have also climbed to a record, reinforcing the view that the K-shaped economy is becoming more entrenched. Vanguard's How America Saves 2025 report shows that hardship withdrawal activity "increased to a new high" of 6% in 2025, up from 4.8% in 2024 and about 2% before the pandemic. The increase marks the...

Not So Fast: Virginia Judge Blocks Redistricting Referendum Update (1835ET): A Virginia judge ruled on Wednesday that the state’s redistricting referendum approved by voters a day earlier was invalid, nullifying the election results. "Virginia voters have spoken, and an activist judge should not have veto power over the People’s vote," said Virginia Attorney General Jay Jones, adding that the state would appeal.  As American Greatness notes further, Tazewell County Judge Jack Hurley Jr. ruled that the referendum was likely unconstitutional as it violated procedural requirements in the Virginia Constitution, including the timing of the vote and the...

Trump HHS Launches Probe Into 13 States Over Abortion Coverage Mandates The U.S. Department of Health and Human Services (HHS), Office for Civil Rights (OCR), is investigating 13 Democrat-run states for allegedly forcing employers' health insurance plans to cover abortions. Officials say these rules trample the Weldon Amendment's federal conscience protections.  The Weldon amendment blocks states from punishing health insurers, plans, or providers who refuse to pay for, provide, or refer for abortions on moral or religious grounds, and has appeared in every HHS spending bill alongside the Hyde Amendment since...