{
  "id": 7108253,
  "title": "Tim Cook warns of US crisis: ‘I’ve never seen anything like it’ and Musk agrees. Shockproof your hard cash today",
  "url": "https://urgent.news/2026/09/12/tim-cook-warns-of-us-crisis-ive-never-seen-anything-like-it-and-musk",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-12T11:15:00.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/economy/articles/tim-cook-warns-us-crisis-111500350.html"
  },
  "original_language": "en",
  "account": "Two of the world's most influential tech CEOs, Tim Cook of Apple and Elon Musk of SpaceX and Tesla, have both issued stark warnings about the current state of the U.S. economy. Cook, who has never seen anything like it in over 40 years, told The Wall Street Journal that the recent rise in costs is unlike anything he has experienced. Musk echoed this sentiment, calling it the biggest price jump he has ever observed. The warning stems from a surge in costs for memory and storage chips used in Apple's products, which have forced the company to raise prices. This is not just a tech issue, but a broader economic concern, as central banks around the world are increasing their gold reserves, with a record 45% planning to do so. The Federal Reserve Bank of Minneapolis even warns that $100 in 2026 will have the same purchasing power as $11.74 in 1970, highlighting the erosion of purchasing power over time. To protect against this inflation, investors are looking beyond traditional cash and savings, with gold being a popular choice due to its inherently limited supply and its status as a safe haven asset during times of economic turmoil or geopolitical uncertainty.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}