'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:

• The Boeing Dilemma

• Lackluster's Last Stand

• Trading The Shit Show: July 2024 Market Review

• Everything You Love You Owe to Capitalism

• Crash Or Bear Market, Either Way Stocks Going "Down, A Lot": Mark Spiegel

• E Pluribus Airhead

• The U.S. Is A "Runaway Train": Chris Martenson On Debt, Immigration & War

• The Coming US Budget Disaster Will Impoverish Americans

• Joe Biden's Last Debate Ever

• Sky's The Limit For Our Debt And The Money Supply

• Send This Article to People Who Say “Ivermectin Doesn’t Work for Covid-19”

• Prepare For "The Great Macro Dreamscape": Harris Kupperman

• James Lavish Explains The Entire U.S. Debt Crisis In An Hour

• Don’t Let A Crisis Go To Waste In 2025

• Biden's Replacement And Trump's VP Pick

• Saudi Arabia Drifts Away From Washington And The U.S. Dollar

• We Can Be Lied To About Anything

• This Bull Market Rally Is As Thin As A Playing Card

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