Mercurial Markets and a Merry Mailbag

A quick update before I dive into the bag. [The Rude Awakening] February 22, 2023 [WEBSITE]( | [UNSUBSCRIBE]( Mercurial Markets and a Merry Mailbag - The SPX got hammered yesterday, down 2%. - The “worst thing” is happening: a stronger dollar. - Let’s dive into the mailbag. [You may get angry, offended, and shocked]( Jim Rickards just went live with the Biden administrations’ diabolical plot to turn the stock market into a political landmine. [Click here to discover...]( - WHO is really pulling the levers of power in America - WHY these people are trying to destroy your wealth - WHAT you can do to protect yourself Jim revealed everything during his [COUNTERSTRIKE SUMMIT](. Due to the controversial nature of this event, viewer discretion is advised. [Click this link now, if you feel prepared to hear the truth](. [Click Here To Learn More]( [Sean Ring] SEAN RING Happy Hump Day from overcast Asti! The Rude’s good friend and Paradigm’s Director of Customer Experience, Dustin Weisbecker, sent me a few emails you sent that I’ll address further down the newsletter. As a reminder, I love hearing from you. So please write whenever you feel like it. But first, I will dive - not too deeply - into recent market movements. We’ve got our Monthly Asset Class Report next week, so I don’t want to drown you in charts yet. The news is this: our rally is in peril. But it’s not doomed. This is what Manchester United’s legendary former manager Sir Alex Ferguson used to call “squeaky bum time.” [Squeaky bum time]( is the tense final stages of competition when your butt crack is sweaty. It’s the time when you’ve got to keep your nerve. When you see the charts, you’ll know why. So let’s dive into it. What’s the Worst Thing That Can Happen? Good traders ask themselves, “What’s the worst thing that can happen?” When I posed this question a couple of weeks ago, my answer was “the dollar whipsawing.” Well, we’re now into a month of the USD rallying: [sjn] We’re right at a significant level of 104.16. Above there, it’s anyone’s guess. Why has the USD rallied? From today’s [Journal]( [SJN] It seems like Mr. Market is getting a bit more rational. Chairman Pow is all about legacy. We’ve mentioned that loads of times. From the same Journal piece: Although inflation has fallen from its recent peak, it remains high. The unemployment rate has fallen to a 53-year low, and retail sales are growing at a healthy clip. That combination has led investors to expect the Fed to continue raising interest rates and then keep them elevated for longer. It’s really what we’ve been saying all along. The Stock Market. All this has put pressure on the stock market. Yesterday, we were down about 2.00% across the board. [SJN] We’ve been stuck between 3,800 and 4,100 for four months now. The SPX is also still above its 50-day moving average, which has just crossed above its 200-day moving average. So, while we’ve been stalled for the past month, we can still make a bullish case. Deep breath. Steady as she goes… for now. That’s it for my market update. Let’s turn our attention to the mailbag. [Breaking: Did Biden Really Blow Up Nord Stream?!]( [Click here to learn more]( New evidence has just been released the all but PROVES a shocking truth… President Biden gave the green light to blow up Russia’s Nord Stream Pipeline! According to [this shocking new expose]( Crippling fuel shortages… widespread “Biden blackouts”… and energy bills rocketing to $1000… Are about to hit American shores as a result. [Click here to learn the TRUTH about Nord Stream and how it will impact YOU](. [Click Here To Learn More]( The Mailbag Let’s check in with the mailbag and see how we’re doing. Sean, As you may well know, there are 46 active volcanoes worldwide! And these charlatans want us to believe that we can control the environment? Worthy of some consideration and discussion, don’t you think? Neil C. Neil, I often wonder what our descendants will think of us 300 years from now. “If you think that’s stupid, remember, 300 years ago, scientists thought cow farts caused global warming!” But according to NASA, [human activities produce 100x the carbon dioxide that eruptions do](. With that said, you’ve got to believe carbon dioxide harms us. You’ve also got to understand China, India, and Africa will determine how much of that stuff will get into the air over the next few years. I’d also hasten to add we don’t do enough work on the sun cycles and how they affect our climate. Too many of the ESG crowd don't care about a company's financial viability, product innovation, or other factors important to investors or customers. In part, this is because those issues are beyond their ability to understand and, in part, because the welfare of investors and customers doesn't matter to them at all. That the largest investment vehicles, such as BlackRock, have adopted this approach suggests that market manipulation will only increase with dire consequences to just about everyone. Mark F. Mark, I think you’re spot on. I’ve written before that Larry Fink, BlackRock’s CEO, is a custodian of over $10 trillion in assets. He’s not the owner. And his shareholders must hold him to that principle. But as one of my friends is wont to say, “You can ignore the laws of economics, but the laws of economics will not ignore you.” Hopefully, the mistakes will hurt profitability enough to force a course correction. Sean, very much enjoy your morning presentations. Wonder if sometimes you could elaborate on what exactly Egypt’s domestic issues are. Is it just their massive debt? And if so, can’t Europe then assist in resolving that since they want to need the LNG? Even though you’ve been away from New Jersey for a while, I suspect you still have that New Jersey can-do attitude! Neil C. I’d like to think so, Neil! As for Egypt, I learned how to scuba dive in Sharm El-Sheikh back in 2006. While on the Sinai Peninsula, I also visited St. Catherine’s Monastery and saw the Burning Bush (though it wasn’t burning then). I haven’t gone to the mainland yet. But now that I’m back on this side of the world, I’m keen to return there. Egypt is a victim of its geography, politics, and economics. Here’s a list of its problems, as far as I can see: - Political stability: The country has had a history of political unrest and instability. The 2011 revolution that toppled former President Hosni Mubarak, followed by the military coup in 2013 and subsequent crackdown on political dissent, has left the country with a volatile political environment. - Economic challenges: The Egyptian economy faces several challenges, including high unemployment, inflation, and poverty. - Infrastructure: The country's infrastructure needs significant improvements, including in areas such as transportation, housing, and sanitation. - Education: While there has been some progress in recent years, the Egyptian education system needs help, particularly in rural areas. - Human rights: Egypt has been criticized for its poor human rights record, including restrictions on freedom of expression, arbitrary detention, and torture. - Terrorism and security: Egypt faces threats from domestic and international terrorist groups, which have targeted civilians and security forces. - Water scarcity: The country faces significant challenges in managing its water resources, including water scarcity and pollution of water sources. - Healthcare: The healthcare system in Egypt faces challenges in terms of access, quality, and affordability. Sean hit the nail totally on the head. Excellent writing and I am sharing it with everyone I can. My company was started by my grandfather in 1938, and I am the third generation at the helm. We are located about 30 miles from East Palestine. We are a small company of 40 employees and have survived a lot of worthlessness from the government over the years. I am so tired of the direction our country is heading and the lack of real leadership by the government for our country and our citizens. I just wanted to let you know how much I appreciated this column. Thank you very much. Keith G Keith, thank you. My thoughts and prayers aren’t worth much. But I genuinely feel for you and your community. I couldn’t imagine my President running off to Europe without even a visit. I don’t expect the Biden Administration to fix things instantly. But the Administration seems both tone-deaf and oblivious to the suffering in your part of the world. I hope you and yours get through it as quickly and painlessly as possible. Wrap Up That was so much fun! Keep writing in. I love to hear from you. And if there’s anything specific you want me to cover, let me know. Until tomorrow. All the best, [Sean Ring] Sean Ring Editor, Rude Awakening In Case You Missed It… The Stark Juxtaposition of Ohio and Ukraine [Sean Ring] SEAN RING Good morning on this overcast Tuesday from Northern Italy. Today is Micah’s sixth birthday. Only twelve more years until university! I’m thrilled. Just kidding, pal. Daddy loves you. Today is still a holiday in Italy, but I’m writing nevertheless. I got to catch up on the news this weekend. And this East Palestine thing has got me going. And not just because no one in Ohio knows how to pronounce pal-e-STINE properly. (What the heck is a pal-a-STEEN?) I’ve reached some inescapable conclusions in this case. Pete Buttigieg is as useless as a McKinsey consultant. (Well, he was one.) Right now, Joe Biden cares more about Ukraine than Ohio. The optics are terrible, and I can’t understand why the administration didn’t collect some cheap slam dunks. I’ll try to parse out what this all means in this Rude. Location, Location, Location East Palestine, OH, a town I had not heard of until this disaster, sits on the Ohio/Pennsylvania border. [sjn] As far as I can tell, roughly - very roughly - over 1,000,000 people live within the map’s area. I know it’s not a lot compared to the total US population. But it’s a lot of people who need help. What does a federal government exist for, if not this? Even if you think a federal government should be limited to defending the land and enforcing private property rights, the US government can make itself more valuable by doing all it can to help. But as far as I can tell, the USG has done little. Is Tucker Carlson Right? Six days ago, [Carlson was at his usual rampaging best]( (bolds mine): According to Pete Buttigieg, Biden officials were on the scene, yet somehow, they never said a word about the mushroom cloud until pictures of it evoked outrage on social media and, of course, they didn't. They didn't even notice. It had nothing to do with equity or climate change. East Palestine is a poor, White town that voted for Trump. So honestly, who cares? No one in the Biden administration did care, and that's an atrocity. The people whose indifference made it possible should lose their jobs, beginning with [Transport Secretary] Pete Buttigieg and extending to governors Josh Shapiro [PA] and Mike DeWine [OH]. They didn't care, and they got caught not watching. Even tonight, Mike DeWine clearly still doesn't care. Here he is insisting everything's fine. I’ll get to the purported firings later. But as I read Carlson’s missive, I asked myself, “Would it have made any difference to the Biden Administration if the mushroom cloud hung over a poor, black community in Georgia?” I used Georgia because that’s the only Deep South state Biden carried in 2020. Honestly, I don’t think it would have. We may have even flicked the remote control a bit quicker. But this isn’t about race. It’s about the sheer indifference of Biden and his administration to the American people in general. It would have made all the difference if Biden had just delayed his Ukraine trip for a day to visit the site. Then, he could’ve taken Air Force One to his favorite vassal state. But he couldn’t wait a moment. Why not? The Problem with Empires Murray Rothbard put the consequences of the genuine free market principle up against the hegemonic principle in [Power and Market]( [SJN] Credit: [mises.org]( America is undoubtedly the world’s hegemonic power. Hegemony is the political, economic, and military predominance of one state over other states. The problem of empire and hegemony is the maintenance costs. You’ve got to rob Peter to pay Paul. It’s public knowledge that the Biden administration has spent over $100 billion in aid on Ukraine. If by direct taxation, taxpayers have paid for this war; if by money printing, all US residents have paid by inflation. That’s the “seen,” as Frederic Bastiat would have put it, and even that’s not easily seeable. The “unseen” is that wealth could’ve been allocated to Ohio or any number of other endeavors. My bet is that it’d take much less than $100 billion to clean up the site. And that, my friends, is the opportunity cost the American people must bear. [Secret Gold Back currency RUINING Biden’s plans for a digital dollar?]( [Click here to learn more]( What I’m holding in my hand is a completely new form of money… As we speak, it's being used as an alternative currency across the U.S. minting in places like Utah, New Hampshire and Nevada… And since it’s made out of a thinly printed sheet of REAL gold... It may be the single best way to protect your wealth from Biden’s plan for a government controlled digital dollar. That’s why, I want to offer to send one to you today. But since I have a limited number I need you to respond to [this message]( by Wednesday at midnight. [I’ve recorded a short 2 minute message that explains everything here.]( [Click Here To Learn More]( Buttigieg Should Be Shown the Door I’ll leave the decision on whether Josh Shapiro or Mike DeWine should get fired to the people of Pennsylvania and Ohio, respectively. It’s simply not my job to determine that outcome. But I’m not optimistic. George Carlin put it best. [SJN] But Mayor Pete is a different kettle of fish. The Biden Administration loves Buttigieg because he’s articulate and safe to put in front of cameras, everything Corn Pop and the Veep aren’t. They need him. So, despite his subpar performance, he’ll stay safely ensconced in his job. But it’s worth noting that Buttigieg didn’t even mention East Palestine for a full ten days after the disaster. From [The Nation]( On February 5, Ohio Governor Mike DeWine warned, “Everyone in Pennsylvania and Ohio who’s in this area, you know, you need to leave. You just need to leave. We’re ordering you to leave. This is a matter of life and death.” On the very day that DeWine was uttering these dire words, Buttigieg appeared on three Sunday news shows: CNN’s State of the Union, NBC’s Meet the Press, and ABC’s This Week. Remarkably, on none of these programs was Buttigieg asked about the ongoing East Palestine disaster—despite the fact that, as transportation secretary, regulating train safety is one of his responsibilities. Nor did Buttigieg feel it incumbent on himself to raise the issue and offer what guidance and assurances he could. Instead, Buttigieg’s ubiquitous TV appearances were taken up with the transparently hyped-up issue of a Chinese weather balloon that entered USA airspace—quite possibly as a result of unpredictable wind patterns. We can talk about media complicity all the live-long day. But this was a fantastic opportunity for Buttigieg to step up and take control. He didn’t. He may have been ordered not to. But it seems an exercise in self-harm not to have at least mentioned the disaster and what his plans were going forward. As for the president… Biden’s Optics are Terrible As mentioned above, a quick, two-hour stopover would’ve been enough. An act of sympathy and succor could’ve gone a long way. The only positive I can take from this is that the cat’s out of the bag. Emperor Biden presides over a vast empire on which the sun never sets. And his Ukrainian vassals are every bit as important to the Emperor as his Americans are. From [Fox News]( Trent Conaway, mayor of East Palestine, Ohio, tore into President Biden on Monday, accusing him of neglecting domestic responsibilities while "giving away millions of dollars" during his surprise visit to Ukraine. "That was the biggest slap in the face," Conaway said on "Jesse Watters Primetime." "That tells you right now he doesn’t care about us. He can send every agency he wants to, but I found out this morning that he was in Ukraine giving millions of dollars away to people over there and not to us…on President's Day in our country, so I'm furious." That’s “billions,” with a “b,” Mr. Mayor. Wrap Up It’s hard to argue with Mayor Conaway. My heart goes out to those affected. I realize that, and five bucks will get you a small latte at Starbucks. But the American people have been treated appallingly. Have they had enough? Will this incident remind them to vote for someone who works for them? As Biden prepares to run again (God help us), will the Trump(et) sound? Let’s watch the unintended consequences of this disaster unfold. Have a wonderful week ahead! All the best, [Sean Ring] Sean Ring Editor, Rude Awakening [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2023 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. By submitting your email address, you consent to Paradigm Press, LLC. 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 [click here.]( Please note: the mailbox associated with this email address is not monitored, so do not reply to this message. We welcome comments or suggestions at feedback@rudeawakening.info. 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