Low on Gas, Unhappy Harvests, Tesla's Humanoid, Millionaire Mania, Know The Fed

Low on Gas, Unhappy Harvests, Tesla's Humanoid, Millionaire Mania, Know The Fed
"Technology changes, but people stay the same."

- Daniel H. Wilson, 'Robopocalypse'

Everything Investors Need to Know About the Federal Reserve


Natural Gas Shortage Looms

U.S. shale producers are struggling to serve demand as domestic and international natural gas consumption has reached record highs. Natural gas inventories, on a weekly basis, remain at the second-lowest (in the past 12 years) for this time of the year with no sign of improvement.

Remember, natural gas is the the largest source of electricity generation, accounting for 38% of it. U.S. electric generators have burned record volumes of natural gas since coal-fired plants have been retired and the Western drought resulted in limited hydroelectric output. And based on that, you can count on electric bills to continue increasing.

OilPrice.com, Reuters

Unhappy Harvests

Years of unfavorable weather, global droughts and Russia's invasion of Ukraine have all contributed to lower than expected crop yields leading to tighter food supply. Professional Farmers of America Inc. lowered its corn yield outlook for Nebraska by 13% and South Dakota by 22%, compared to 2021.


Number of Millionaires Will Grow 40% by 2026

According to Credit Suisse, the amount of millionaires globally will increase drastically to 87.5 million, in the next five years from 62.5 million in 2021. Ultra-high net-worth individuals, people with $50 million or more, will increase to 385,000 among their ranks.



Tesla to Unveil 'Optimus' Humanoid Robot

A new smart robot prototype made for executing "boring or dangerous jobs, including moving parts around its factories" will be unveiled on Sept. 30th at Tesla's 'AI Day' event.

Elon Musk says the robot will be affordable since they will be "cheaper than a car." He has previously admitted that robots are not intelligent enough to do much without detailed instructions from humans, but that the "vision is for them to serve millions of households, such as cooking, mowing lawns, and caring for the elderly.”

Robots are notoriously bad at handling unpredictable situations and the endeavor will prove, in our opinion, to be even more challenging than perfecting self-driving cars. Some Tesla investors are seriously doubting this robot venture. But that hasn't stopped Musk form predicting that Tesla's robot revenue will someday eclipse their car revenue.

Reuters, IoT World Today