'Big Boy' Biden's Week From Hell
Submitted by QTR's Fringe Finance
The defining moments of this past week came from Elon Musk and Joe Biden.
In markets, it was announced this past week that Elon Musk’s August 8th Robotaxi reveal isn’t happening, as I predicted innumerable times since he announced it in April. But the announcement timing set off my spider senses — could there be a more convenient time to release bad news than after Tesla mysteriously added $250 billion in market cap in just 11 trading days? It couldn’t be a coincidence, right?
My take: Robotaxi Collapse "Conveniently" Follows $250B Tesla Stock Surge
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And then, of course, President Biden had his ‘Big Boy’ press conference on Thursday night, which he opened by referring to Ukrainian president Volodymyr Zelenskiy as “President Putin” and closed by referring to Vice President Kamala Harris as “Vice President Trump”.
I wrote on Friday why I thought this conference should take us one step closer to President Trump selection Tulsi Gabbard as his Vice Presidential pick: Vice President Tulsi Gabbard
Biden’s press conference on Thursday followed his Monday morning appearance on Morning Joe, where he sounded like he was angrily phoning the interview in from the toilet.
Just days ago, I released my latest take on macro and the markets, including two new long positions I like, heading into the second half of 2024. As I wrote then, there are a number of negative catalysts still just waiting to play out for markets: numerous potential wars, a fiscal situation in the U.S. that is completely untenable (listen to this interview with James Lavish and read this report from Mark Spiegel to understand) and uncertainties with the 2024 election.
I also published a great recap from Schiffgold, where economist Peter Schiff reviewed the latest batch of economic data, including new jobs data and revisions to job numbers, and why a declining manufacturing sector bodes poorly for the economy: Peter Schiff: The Doom Is In The Data
Here’s what else is new on the blog over the last couple weeks:
Crash Or Bear Market, Either Way Stocks Going "Down, A Lot": Mark Spiegel
The U.S. Is A "Runaway Train": Chris Martenson On Debt, Immigration & War
Send This Article to People Who Say “Ivermectin Doesn’t Work for Covid-19”
James Lavish Explains The Entire U.S. Debt Crisis In An Hour
Saudi Arabia Drifts Away From Washington And The U.S. Dollar
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