RATES/GROWTH/FEDHEADS
-On top of our latest theme of big money flows into ENERGY and all kinds of stuff, we wrote at the end of our report yesterday:-
-“We will be 100% focused on this (ENERGY, RATES AND STUFF) as well as the 50 day moving average for the NASDAQ/NDX as we are not so sure growth will be happy if rates continue higher.”-
-Rates again higher this morning. OIL again higher this morning. The NASDAQ/NDX and growth getting smacked. This needs to be watched. The NASDAQ/NDX/GROWTH, for the right reason of outperforming for so long, are now coming under some serious pressure. The NASDAQ/NDX will both open BELOW the 50 day average with many names toppy, topping or topped. To be watched as these areas already showing not thrilled with the move in rates and oil.-
-Lastly, two Fed heads stepped down yesterday. Both were embroiled in controversy as they traded a ton of stocks in the market while providing gargantuan easy money to those same markets. One stated did not want to be the story. The other commented on health issues. We hope there will be investigations into this. We hope there will be accountability. Somehow we doubt it. Just remember, not one person on Wall Street was even looked at for all the crap (massive fraud) that occurred leading up to the 08 debacle. Expecting the same here.Martha Stewart should be pissed off. As usual, for people in DC, rules for thee but not for me!-
DON’T WORRY! IT’S PAID FOR!
BY GARY KALTBAUM- SEPTEMBER 27, 2021
It’s paid for. No really! It’s paid for! It’s not going to cost a dime! It’s paid for! No really! It’s paid for! Let me repeat. It’s paid for. It’s not going to cost a penny!
Questions! How much longer are they going to get away with this great con? How much longer are the American people going to be marks for this great con? Is there any number too high? Is there anyone going to get them to stop this con? How do we know they are conning us? Let us simplify things for you.
$29 trillion. $29 trillion of debt. $29 trillion of spending of money they did not have. $29 trillion of just cutting a bigger credit card every year. $29 trillion of mortgaging the future. And who took us to $29 trillion. THE SAME PEOPLE THAT ARE TELLING US THE NEXT $3.5 TRILLION IS PAID FOR. Think about that.
Joe Biden has been in DC since 1973. Our federal debt that year? $458 billion.
Chuck Schumer has been in DC since 1981. Our federal debt that year? $998 billion.
Nancy Pelosi has been in DC since 1987. Our federal debt that year? $2.3 trillion.
These three are currently driving home the con that we should not worry. Everything is fine. Everything is paid for. TRUST US! But these same three people have been in DC for decades. For decades they have signed off on almost all the debt we have incurred…BUT NOW, IT IS PAID FOR! Now…we should just believe them. Who are they trying to kid? Are they actually laughing at us when they look into the camera and deliver the con?
Do not get us wrong. You cannot get to $29 trillion without both parties. You cannot get to $29 trillion of debt without all the past politicians in both parties throughout the years. It’s just that these people and this party are still around, are the leaders and now want to supersize and we mean supersize. After all, Biden’s first proposal was a ginormous $6 trillion.The con was to come back and tell us how the president met half way when in fact the $6 trillion number was to create the con that $3.5 trillion was reasonable.
Just remember, we have a motto. Both parties stink. (using a nicer word) Both parties stink on our treasure. Both parties stink on our taxes. Both parties stink on their inefficient and ineffective use of our tax dollars. Both parties continue to disrespect us. Let’s not forget the same people in the Republican party who all of a sudden care about debt, deficits and spending…did not give a crap under Trump who ran up trillions in debt after telling us it would be no problem to cut debt and deficits. They are just as guilty.
We will now await one journalist, just one journalist get into the face of Biden, Schumer or Pelosi and ask these simple questions:
Why should anyone believe you that this $3.5 trillion is paid for when you have signed off on and are responsible for just about the whole $29 trillion of debt this country has at this moment?
Why should any American believe you on this spending bill when your track record is so miserable on debt and deficits?
Why should anyone believe this bill will go towards infrastructure when the Obama/Biden $800 billion stimulus that was supposed to go towards what they called “shovel ready” infrastructure hardly went towards infrastructure?
We are waiting! We are waiting for one brave soul to ask these questions because these politicians supposedly work for us. These politicians get paid by us. These politicians should be held to account by us. In the meantime, the hourglass gets emptier by the day. And in case you think the word “con” is too strong…$29 TRILLION!
