Biden, Powell, and Putin Make the News All Bad

A fumbling US president, a bumbling Fed chief, and a stumbling Russian president walk into a bar… Were you forwarded this email? [Sign-up to Rude Awakening here.]( [The Rude Awakening] September 22, 2022 [WEBSITE]( | [UNSUBSCRIBE]( Biden, Powell, and Putin Make the News All Bad - Biden declares the pandemic over, ends strategic ambiguity over Taiwan, and forgets where he is… again. - Powell raised another 75 bps - the third time in a row - and intimates more are coming. - Putin gets ready to go nuclear on Ukrainian troops. Recommended Link [Secret plan to bring socialism to America?]( [Click here for more...]( It was started within 45 days of Biden’s [Executive Order 14067]( And soon it could give the Biden administration unprecedented control over your life, your savings accounts, and even your voting records without your consent. Dubbed “Project Lithium” this might be the single greatest threat to your freedom that I’ve ever seen. Warning: Due to the graphic nature of this content, viewer discretion is advised. [Click Here To View It Now]( Sean Ring Editor, Rude Awakening Happy Thursday from chilly Northern Italy. As I dropped Micah off at school, I remembered how much I love Autumn. I’m thrilled to be here. You see, I haven’t experienced a full autumn in 13 years. The vibrant leaves, brisk air, and natural air conditioning are unknown in Southeast Asia. That is, provided we all don’t glow soon from the nuclear fallout. An old LBS buddy and former partner at Goldman Sachs told me of the current political machinations, “I think it’s a race to see who can kill 5 billion people first.” I scoffed at the idea, but it’s starting to make much more sense. After all, if you’re going to kill a bunch of folks, you want to ensure your people survive. Well, unless you’re the self-loathing West, I suppose. In this edition of the Rude, I’ll talk about a checkers player, a chess player, and a poker player who are making the world more difficult for the rest of us. Checkers: Joke Biden Doesn’t Know Where He Is As I’ve written many times, I thought Joke Biden was an idiot in 1990. I still can’t believe he somehow found his way into the White House. But he did, and we’re feeling the consequences of it. Let’s have some fun with this past week’s idiocy. The Pandemic Is Over? In a recent [60 Minutes]( interview, Biden said: The pandemic is over. We still have a problem with COVID. We're still doing a lot of work on it. But the pandemic is over. If you notice, no one's wearing masks. Everybody seems to be in pretty good shape, and so I think it's changing, and I think [the Detroit auto show resuming after three years] is a perfect example of it. [The Washington Post]( countered with this: Biden’s remarks caught some senior officials off guard as the White House mounts a fall vaccination campaign, lobbies Congress for billions of dollars to purchase more coronavirus vaccines and treatments, and weighs whether to extend its ongoing public health emergency when it expires next month. The president’s comments also triggered a sell-off on Wall Street, as vaccine manufacturers Moderna, Novavax, BioNTech, and Pfizer collectively lost more than $9 billion in value on Monday. In interviews, six administration officials who spoke on the condition of anonymity because they were not authorized to comment said the president’s statement would probably make it harder to persuade people to get shots or secure new money from Congress, noting those efforts have already lagged behind their goals. Outside supporters also criticized Biden for ignoring uncomfortable realities, such as the large and growing toll of long covid. Most of us stopped wearing those useless masks ages ago. And most who I’ve spoken with are either glad they never got jabbed or regret getting jabbed and won’t take anymore. But this presidential statement contradicts the official narrative. And it may have even [sunk Biden’s student forgiveness plan]( before it started. Strategic Ambiguity is a Thing of the Past America’s policy towards Taiwan has always been one of “strategic ambiguity.” If China attacked Taiwan, the US hadn’t divulged how it would respond. Welp, that policy’s time has concluded. Credit: [Reuters]( More from the [Reuters]( piece: Asked in a CBS 60 Minutes interview broadcast on Sunday whether U.S. forces would defend the democratically governed island claimed by China, he replied: "Yes, if in fact, there was an unprecedented attack." Asked to clarify if he meant that unlike in Ukraine, U.S. forces - American men and women - would defend Taiwan in the event of a Chinese invasion, Biden replied: "Yes." The CBS interview was just the latest time that Biden has appeared to go beyond long-standing stated U.S. policy on Taiwan, but his statement was clearer than previous ones about committing U.S. troops to defend the island. Now the US is committed to putting bodies in Taiwan in the event of a Chinese attack. Not great, especially if you have a child in the military. Recommended Link [Federal Ruling does WHAT?]( [Click here for more...]( The Federal Government just passed an obscure new ruling. It could change your life in ways you’ve never thought possible. And help some Americans make a small fortune in the process. [Click Here To Learn How]( Chess: Grandmaster Powell Forgets That Emotions Matter I’m pretty sure Jay Powell has the Volcker Savior Complex in complete form. Powell raised rates by 75 bps for the third meeting in a row. Credit: [Atefeh Ebadian / MBA via LinkedIn]( Just look at how quickly rates have risen this cycle compared to others. And this chart looks at the absolute change in rates, not the relative change. To remind you, we started at 0.00%. The market didn’t react kindly yesterday, either. Credit: [StockCharts]( The only green thing on the table is volatility. The VIX is getting to shaky ground. That’s because the message accompanying the rate rise was more hawkish than the market expected. And who can blame the market? Inflation looks like it’s leveling off. (I don’t think it is, but the numbers most traders follow are lower on average.) Now, most traders are adjusting to a new motto: “75 is the new 25.” As in, rate hikes will be large for the foreseeable future. Credit: [The Wall Street Journal]( The markets are emotional, Grandmaster. And as Spock once said, “Logic is the beginning of wisdom, not the end.” Anticipate shaky days ahead. Poker: Putin May Have The Winning Hand, But This Move Is Dangerous Yes, I’m getting a bit nervous now. Let’s review. Yes, Russia has lost some territory. But according to the BBChé, the map still looks good for Pooty Poot: Credit: [BBC]( However, Putin has called for a “partial mobilization” of 300,000 reservists. And he topped that up by issuing a barely veiled threat to use nuclear weapons. Really not great. But let’s face it, he’s not fighting Ukraine anymore. Putin is fighting US technology. And since this man once said, “If there is no Russia, there will be no world,” I think it’s important to understand the implications of his moves. This move looks like he called and raised. Let’s see what the DC crowd does in response. Wrap-Up Between the three of them, the world could use a rest. Biden is a bumbling incompetent who doesn’t even know his own country’s policies. Powell cares more about his legacy than your retirement. And Putin doesn’t care about anything but Russia. That’s great if you’re Russian. It’s not so great for everyone else. But let’s try to cope as best as we can. After all, tomorrow is Friday. Have a great day ahead. All the best, Sean Ring Editor, Rude Awakening [ARCHIVE]( | [ABOUT]( | [CONTACT US]( Rude Awakening is committed to protecting and respecting your privacy. We do not rent or share your email address. By submitting your email address, you consent to Paradigm Press delivering daily email issues and advertisements. To end your Rude Awakening e-mail subscription and associated external offers sent from Rude Awakening, feel free to [unsubscribe](. Please read our [Privacy Statement.]( If you are you having trouble receiving your Rude Awakening subscription, you can ensure its arrival in your mailbox by [whitelisting us.]( © 2022 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized financial advice. 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