The F-35? F* This!

US defense contractor incompetence reaches an all-time high. [The Rude Awakening] August 02, 2023 [WEBSITE]( | [UNSUBSCRIBE]( The F-35? F* This! - The world’s most expensive fighter jet has a big problem. - While lightning hits the average commercial airliner twice a year… - … the F-35 can’t fly through thunderstorms. [$32.8 Billion PER DAY!]( [Click here to learn more]( Forget AI, cryptocurrency or anything else – [THIS]( is the biggest profit opportunity of your lifetime. It’s an obscure corner of the market… one which is quietly creating an average of $32.8 BILLION in new wealth PER DAY. [That’s $1.2 trillion per year…]( And if you act fast, you have the chance to get in on the action starting right away. Hurry, though – this video will be removed from the internet on Friday at 4PM. [Click here now for details](. [Click Here To Learn More]( [Sean Ring] SEAN RING Happy Hump Day from cool, sunny Asti! I had been so content lately. Micah is home from school for the summer. My in-laws have been great to have around. Pam’s been in a good mood. The house purchase is moving along. I had been experiencing Alan Knuckman-like levels of optimism. I might have even gone to target practice to see if I could aim the rainbows I’ve been shooting out of my cornhole. But then I had to do it. I had to hit ZeroHedge. In times like these, I avoid ZeroHedge like the plague. I don’t want their gritty realism to get in my way. I don’t want their “conspiracy theories,” or, as I like to call them, “accurate prognostications,” to get me down. But it’s one of my top hits, so it shows up on my Google Chrome page when I open the app. Once I unconsciously clicked on the site, the first article I opened was “Poland Builds Up Troops On Border In Response To Alleged Belarus Combat Helicopter Breach.” For the love of God, somebody remind the Poles that Jan Sobieski is long dead! As I scrolled through the article outlining how Poland is in NATO and that Russia considers an attack on Belarus an attack on Russia, I reached the bottom. In the advertisements for other articles, I saw this: [Click here to learn more]( Credit: [ZeroHedge]( Then, I thought, “Nah. Can’t be.” Beijing, October 2013 Pam and I had long wanted to visit the Great Wall and Forbidden City. Unfortunately, I hadn’t been sent there to teach. (While living in Singapore, I had been to Shanghai twice on business.) We decided to use some vacation time to head up there. [sjn] The Great Wall of China, snaking over the mountains; Credit: Pam Ring [sjn] That’s me, taking a break from climbing the Great Wall; Credit: Pam Ring [sjn] Mrs. Ring, at the gates of the Forbidden City; Credit: Sean Ring For the first two days, it was clear and impressive. The following two days were unbelievably polluted. In the pic above with Pam, it looks like we shot that in 1971. But that’s how thick the dirty air was. We couldn’t see out our hotel windows. Luckily, Beijing has cleaned up that problem to the point where the Chinese now expect blue skies daily. As we headed to the airport, I remember thinking, “Thank heavens they invented radar. I have no idea how our pilots can see anything.” We boarded the plane apprehensively. Upon takeoff, we were already dribbling like a basketball. I knew this was going to be bumpy. Not ten minutes into the flight, Pam was visibly frightened - and so was I. She was hanging onto my arm like it was a life raft. And then, “BOOM!” The white light outside our window blinded me for a second. The sound nearly loosened my bowels. Pam’s polished fingernails were about 1/8th of an inch into my skin. I’ll never be sure if the lightning hit the plane or just flashed past my window. But I was shocked to find us still in the air afterward. We bounced all the way to Hong Kong before settling into a smooth, carefree flight over the South China Sea to Singapore. Thank God and… science, engineering, and mathematics! [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]( Please Invade on Clear Days Only! I hadn’t thought about that flight for years until this morning. But then I thought, “My plane ten years ago is better than the crap the US military-industrial complex produces.” Because the F-35, under development since 1994(!), the plane to end all planes, is a piece of shit. We just need to say it aloud. It can’t even fly at supersonic speeds for long because it’s so poorly built. From [Defense News]( An issue that risks damage to the F-35’s tail section if the aircraft needs to maintain supersonic speeds is not worth fixing and will instead be addressed by changing the operating parameters, the F-35 Joint Program Office told Defense News in a statement Friday. The deficiency, first reported by Defense News in 2019, means that at extremely high altitudes, the U.S. Navy’s and Marine Corps’ versions of the F-35 jet can only fly at supersonic speeds for short bursts of time before there is a risk of structural damage and loss of stealth capability. The problem may make it impossible for the Navy’s F-35C to conduct supersonic intercepts. That’s bad. But it gets worse. The F-35 is now prohibited from flying within 25 miles of a lightning storm. Yes. I had to read that twice, as well. Mike Fredenburg of [The Epoch Times]( who wrote the commentary ZeroHedge picked up, reports: So far, the indefinite restriction has been publicly announced as applying “only” to the Air Force’s F-35A. But given the F-35 Joint Program Office’s history of hiding and “managing” bad news, it would not be at all surprising to find out that the same restrictions are in place for the Marines’ F-35B and the Navy’s F-35C, but have not yet been made public. That having this unpublicized policy in place could make sense was demonstrated in July 2021 when two F-35Bs flying out of their airbase in Japan were forced to execute emergency landings after they both suffered millions of dollars worth of lightning damage in the same storm. He continues: This restriction is even more crippling than the F35’s restrictions on supersonic flight, as not being able to fly within 25 miles of potential lightning activity will allow an enemy to use lightning proximity as cover for air, ground, and sea operations knowing that the F-35s will not be flying overwatch or be able to be scrambled to areas where lightning threatens them. That this is the plane that's slated to be the replacement for F-16s, A-10s, AV-8B Harriers, F/A-18E Hornets, and F/A-18F Super Hornets is a decision that needs to be re-evaluated. Lightning hits commercial airplanes twice per year on average. They don’t just fall out of the sky. How is this even possible? The F-35 Joint Program Office, the clown-car circus in charge of this project, won’t reveal what’s actually wrong because the information is sensitive. According to the U.S. Government Accountability Office, [the F-35 program costs $1.7 trillion]( (and the aforementioned 30 years). This isn’t a joke. It’s the government utterly ridiculing the taxpayer. Wrap Up Where’s the congressional oversight? Where’s the citizens’ demand for transparency? This project has taken up nearly $2 trillion and three decades to produce a plane that can’t fly supersonically for too long and can’t go anywhere near a thunderstorm. The U.S. Military better take some British elocution lessons. “I say, old boy, would you mind invading us only when the sky is blue? It really isn’t cricket when the storm’s up. That’s a good chap.” Have a great day. All the best, [Sean Ring] Sean Ring Editor, Rude Awakening Twitter: [@seaniechaos]( In Case You Missed It… July 2023: Monthly Asset Class Report [Sean Ring] SEAN RING Happy Tuesday from sunny Asti! What a month July was! The SPX was up nearly 3%, as the dollar was down 1%. But that wasn’t The Big Story. As General Sir Harry Flashman, VC, might have said, “Commodities were rocking like a New Orleans brothel during Holy Week.” The commodities complex was up 7.7%, a staggering number for the month. And what’s more, gold and silver participated in the rally. Yesterday, gold again breached the $2,000 level, and silver is just under $25. Both shiny metals look strong. Copper, not so shiny, also shot through the $4.00, against my expectations. I’ve added WTI oil to the report. I have no idea why I left it out so long. Oil is trading above $80, and we’re looking for a $95 price target. Who said inflation is dead? It looks like Jay Powell is trading consumer price inflation for asset price inflation. That kind of inflation makes the hoi polloi, voters, and 401(k) holders much happier. But no one will be happier than Slippery Joe Biden. A happy stock market increases his chances of returning to the Oval Office for a second term. God help us. Remember, it’s not who votes that counts. It’s who counts the votes. Now, let’s dive in… S&P 500 [SJN] From 4,450, we gained 138 points over the month. There’s nothing to indicate we should get short here. Although we took a breather yesterday, we’re way up in July. Both moving averages are pointing upward. Enjoy the ride for now. Until something changes, hold fast. Nasdaq Composite [SJN] Nearly at 14,500 now. I reckon we’ll blast through there, challenging the all-time high. Like the SPX, nothing indicates any trouble on the horizon. The chart is clear as day. Russell 2000 (Small caps) [SJN] Last month, I wrote, “Above 197.50, and you can be unabashedly bullish.” Be unabashedly bullish. Next stop: 207.50. The US 10-Year Yield [SJN] We rose sixteen bps (0.16%) since our last asset class report. As they say in Italy, “Piano, piano.” (Slowly, slowly.) My comment from four months ago remains: This is because the market thinks the Fed is done hiking and will cut soon. I don’t think the Fed is done hiking, nor do I think it’ll cut soon after. There will be a decent interval between the end of the hikes and the beginning of the cuts. So I think we’re going up from here, though the entire market disagrees with me. Dollar Index [SJN] I have my doubts now. I still don’t think the Fed is done hiking. In fact, I think Jay Powell will hike in September at the next Fed meeting. The market currently only assigns an 18.5% probability of that happening. But that can - and will - change many times between now and September 20th. It’s just that the markets don’t seem to care that the Fed is hiking anymore. And that’s because a 25 bp hike now has a much lower effect than a 25 bp hike 18 months ago. Whereas a hike of 25 bps to 50bps is a doubling (100% increase) of rates, going from 550 bps to 575 bps is only a 4.5% increase (575 / 550 - 1 = 0.045 = 4.5%). Therefore, the Fed can keep hiking, and the dollar may still fall. Clown world, I know… USG Bonds [SJN] One place where the hike was felt is here in the long end. TLT fell by 2 points in July. I imagine it’ll continue as long as Powell keeps hiking. If TLT gets below 98, we can see a challenge of the 90-91 level. Investment Grade Bonds [SJN] Investment grade bonds are holding up better. We’ve been rangebound here for the entire year and have traded in a tight range for the past few months. I’d still err on the downside if more rate hikes are coming, but let’s wait for confirmation. [Man Who Predicted Bitcoin Warns: “Don’t Buy Bitcoin!”]( [James Altucher]( James Altucher first predicted Bitcoin all the way back in 2013… And ever since, he’s been one of the biggest advocates for it. But now, he’s warning Americans that buying Bitcoin could be a big mistake… [Click here now to see why](. [Click Here To Learn More]( High Yield Bonds [SJN] As junk bonds have equity characteristics, they’re following the market up for now. Look for 77 first, then 80. Real Estate [SJN] Anecdotally, my parents, who are selling their house in Texas to move here to Italy, are having a grand old time. Sure, they’re between San Antonio and Austin, making things easier. But the bids are coming in thick and fast. Likewise, VNQ has also been up the last month, though it’s been choppy on the year. Energy: West Texas Intermediate (Oil) [SJN] I can’t believe I’ve left oil out of this for so long. But here we are. Since June, oil has spiked $10, from $70 to $80. As the dollar continues to weaken, oil will continue to increase in price. We breached $80 last week and closed at $81.80 yesterday. Next price target: $95. Get in here so you hedge your fuel tank costs. Base Metals: Copper [SJN] Totally wrong on this one last month. I thought we were heading down to 3.60. Dr. Copper seems more bullish than I thought, breaking the 4.00 level yesterday. Since its trough in May, things have been looking up. Precious Metals: Gold [SJN] What a comeback! After falling to $1,929 last month, we’re over $2,000 again. Things are looking up again, and I’m very bullish. Now’s the time to back up the truck if you haven’t already. $2,130 is the first upside target. Precious Metals: Silver [SJN] Another big turnaround. We’re just a touch under $25 now. Silver is wildly undervalued, and I hope we start knocking on $30 soon. $26.50 is the first upside target. Cryptos: Bitcoin [SJN] Though it’s been a disappointing month for Bitcoin, you can see the price on the 50-day MA. I can see us bouncing off that and resuming our uptrend to $42,000. The next few weeks’ worth of price movement is crucial. If not, the first downside target is $26,000. Cryptos: Ether [SJN] A weaker chart than Bitcoin’s, I can see ETH challenging the $1,800 level before heading up. Trade Asset Class Summary [SJN] We’re well and truly back into the swing of things. Commodities were up bigly, notching a 7.70% gain. The SPX followed strongly, with a 2.99% gain. But everything depends on the dollar, which was 1% weaker this month, following a 0.88% loss last month. Bonds were down again, losing 1.71% in the long end. Crypto Class Summary [SJN] Ripple had a great month, up 47.32%. Dogecoin, Elon’s favorite, was up 13.58%. The rest, including Bitcoin and Ether, pulled back slightly. Bitcoin Cash, up 168% last month, fell nearly 15% this month. Wrap Up It was an excellent month for commodities and a very good month for stocks. Bonds and crypto took a break, each down a bit. Gold, silver, copper, and oil are all looking up, even after their stellar months. Finally, let’s take a moment to admire this meme - which I’m ashamed to say made me laugh much harder than I should have - courtesy of the Twitterverse: [SJN] Have a great day! All the best, [Sean Ring] Sean Ring Editor, Rude Awakening Twitter: [@seaniechaos]( [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2023 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. 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