Bad News Travels Fast

Nothing travels faster than the speed of light… with the possible exception of bad news. [The Wiggin Sessions] September 24, 2022 [WEBSITE]( | [UNSUBSCRIBE]( Bad News Travels Fast “Nothing travels faster than the speed of light… with the possible exception of bad news.” - Douglas Adams [Addison Wiggin] Addison Wiggin Dear Reader, What a week… From a high of 30,878 at 3:00pm on Wednesday ‘til the close on Friday, the Dow dropped to levels we haven’t seen since November 2020, when the market was still disconnecting itself from the Pandemic ventilator. Laconic the week was not. We traversed from the Queen’s funeral at Windsor Castle through [digital politics and spiritual warfare online]( to Amazon workers trying to unionize a warehouse in Staten Island. All with the backdrop of Fed Chair Jerome Powell warning those who binge on debt for a living to watch out! Phew. In case you missed any of the dizz, we cataloged it all below. Enjoy! Oh, and lest we forget, Bonner warned us of [America’s Nightmare Winter]( ahead. --------------------------------------------------------------- 19 September 2022 [Our Digital Religion]( [Click here to learn more]( A distinctly new world has emerged. That’s what our talk this week with James Poulos of the American Mind publication is about: [In the end, we as human beings just want something to believe in.]( Whether that’s [family, God, Donald Trump… or the Queen](. It is clear there is something going haywire in the modern “digital” life. [Click here to watch the whole interview>]( --------------------------------------------------------------- 20 September 2022 [Mackinder V. The Digital Swarm]( [Click here to learn more]( To Poulos, the human animal is a species living between two worlds. But the line in the sand Poulos draws is more nuanced than Mackinder’s Heartland versus the Periphery. The power that people find online – anonymous, amoral, pejorative, denouncing – shifts the balance away from the Heartland. Away from geography. Away even from real, tangible things. [Continue reading…]( --------------------------------------------------------------- 21 September 2022 [The Armageddon Gang]( [Click here to learn more]( Not long after the 2008 financial crisis, Bethany McClean, then writing for Fortune magazine, called me on the telephone. Mrs. McClean wanted to know, after the collapse of the housing market, how we fared through it all. She was doing a feature on those who got the story right. One example she used to illustrate her angle was the noteworthy parties Nouriel Roubini was throwing in New York City. Plus, my book, The Empire of Debt. Roubini is now forecasting a similar collapse. Only this time it’s worse. Time to giddy-up “The Armageddon Gang.” “At some point, America's debts will be incinerated by inflation,” Bill Bonner and I surmised in our co-authored book Empire of Debt. [Continue reading…]( --------------------------------------------------------------- 22 September 2022 [Shooting At The Sky]( [Click here to learn more]( “I do not care at all what happens to the stock market,” writes Carl N, one of our wiliest of readers, “What I do care about is the daily rising cost of staying alive – food and energy.” “Fix that first,” Carl impeaches. Would that we could, sir. Fed Chair Powell seems to believe in earnest that by inflicting pain on the average day laborer, he can rein in soaring costs for food and energy. Powell led us to believe in his remarks that more rate hikes are on the way. Reading between the Chairman’s lines, Goldman analysts raised their forecast from a peak Fed Funds rate of 4.5% to 4.75%. Their forecast? Rate hikes of 75 basis points in November, 50 basis points in December and 25 basis points in February. Expect assets in all classes on Wall Street to continue deflating. [Continue reading…]( --------------------------------------------------------------- 23 September 2022 [Workingman’s Dead]( [Click here to learn more]( You know Powell's theory. It’s simple. The Fed raises rates in an effort to lasso inflation by purposefully slowing “aggregate demand.” As Jim Rickards kindly explained in [our latest Wiggin Session]( much of the inflation in the system right now is the result of the government lockdowns and subsequent supply chain issues. The Fed is a bank. It doesn’t drill, ship or refine oil. It can’t unload Samsung TVs from cargo barges off the coast of Long Beach. It can’t drive a truck full of oranges from Central Florida to a Wegmans in King of Prussia, PA. What the Fed can do is crush the consumer’s spirit… and try to dampen the demand for gas, flat screens and morning meditation smoothies. [Continue reading…]( --------------------------------------------------------------- Enjoy your weekend, [Addison Wiggin] Addison Wiggin Founder, The Wiggin Sessions P.S. I usually read Reader Mail over the weekend and try to work it into the next week’s missives. If you want to write to me directly, with questions or comments, you can by clicking here. Sponsored by Stansberry Research [Click here to learn more]( Will This Be the Worst U.S. Crisis Ever? Wealthy 73-year-old U.S. entrepreneur retreats to one of his three European properties to issue serious warning (and 4 recommendations) for Americans. "It falls on someone like me to warn you clearly. I'm too rich to care about money—and too old to care what anyone thinks." [Click here for details..](. Ed note: Got something to say? 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