Yellen says catastrophe looms in debt fight

This time may really be different ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Maybe this time really is different... The showdown over raising the debt ceiling is one of the dumber aspects of American public life. Republicans want to limit spending, Democrats say they care about it but now isn't the time to talk about it. We go to the brink of a default. Republicans cave. The circle of life continues. So here we are again, but warnings seem more desperate than usual. "Our current projection is that in early June, a day will come when we're unable to pay our bills unless Congress raises their debt ceiling, and it's something I strongly urge Congress to do," said Treasury Secretary Janet Yellen. She says that if Congress doesn't do this, there will be an "economic calamity." She adds that it is "widely agreed that financial and economic chaos will ensue." The GOP is also vowing not to give in without certain concessions. Of course, we've heard all this before... but Congress only needs to drop the ball once. At some point, spending must be curtailed. But the short-term costs of a default are too terrible to contemplate. It's a game of chicken where we are the ones who will pay the cost if neither side gives in. Another reminder that we need to look after each other. No one else will. Keep Moving, Corey Snyder Publisher, Rogue Investing P.S. You are invited to join my friend Jeff Bishop Tuesday, May 9th for what could be the most pivotal event of your trading career. Jeff is unveiling a new tool he has already used to grab massive, triple-digit wins in this chaotic market. He will take you step by step, showing you exactly how it works during this FREE event, just[click this link to RSVP before the deadline at midnight tonight!]( ) WORD ON THE STREET Buffett Mocks, Yellen Warns, and AMC Finally Settles - "Steep Economic Downturn" - Treasury Secretary Janet Yellen said her department will have no good options if Congress fails to raise the debt limit. In a letter to Speaker Kevin McCarthy (R-CA), Yellen warned a default could come as soon as June 1. - AMC Says Shareholder Lawsuit Over - "AMC has recently reached an agreement to settle a putative stockholder class action concerning the proposed conversion of AMC Preferred Equity Units into Common Stock and reverse stock split." With that statement, the movie chain claims a damaging shareholder lawsuit is finally over. Now it remains to be seen how AMC and APE shares will react - until recently, when one increased, the other would usually decline. The lawsuit was a major blow to AMC's shareholder-friendly brand - Berkshire Up Big On Earnings - Berkshire Hathaway is up by six times in its first-quarter earnings. Warren Buffett also clarified at the annual shareholder meeting that he is not seeking full control of Occidental Petroleum, where his company is now a major investor. He also gave some homey advice. The best investment opportunities, he said, comes from "other people doing dumb things." - Regional Banks Rallying - PacWest Bancorp is rising in premarket trading this morning as regional banks seek to recover. Western Alliance Bancorp and Zions Bancorp are also showing surprising strength. HOT SPOTS: What's Going on in Geopolitics - Charles III Coronated - King Charles III was coronated in the United Kingdom in a well-attended event that defied gloomy British weather. Large crowds cheered the king and the royal family, though police also arrested some anti-monarchy protesters. - Patriot Downs Russian Missile – Ukraine has a new tool to combat Russian hypersonic missiles. A Patriot missile battery reportedly downed a Russian hypersonic missile, the first time American weapons have managed the feat. - Assad Back In The Arab League - Bashar al-Assad can now truly declare victory in the Syrian Civil War. After years of unsuccessfully trying to freeze him out, the Arab League admitted defeat and readmitted Bashar al-Assad back into the regional body. It marks an end to a 12-year campaign to freeze out Damascus, and Assad's return was approved by all 13 member states attending the conference. CUTTING EDGE: What[']( )s Happening In Tech - MSFT Admits Defeat In Console Wars? - Microsoft executive Phil Spencer sounded surprisingly defeatist in a recent podcast, saying that his company is behind Nintendo and Sony. "We lost the worst generation to lose in the XBox One," he mourned. - White House Warns Big Tech – The White House told Google, Microsoft, and OpenAI they had a "moral" duty to regulate AI and that they must "ensure the safety and security of their products." Vice President Kamala Harris has been put in charge of AI regulation efforts by the Biden Administration. - Binance No Longer Blocking Bitcoin Withdrawals - Binance briefly halted bitcoin withdrawals, with heavy volume and high costs blamed. Withdrawals are now possible again on the platform - albeit at a higher price. Surging "gas fees" are challenging the bitcoin financial network FOR YOUR CONSIDERATION --------------------------------------------------------------- "The only thing the Fed has managed to do via central planning monetary policies is to amplify the boom-and-bust cycles."Banks are failing. Bad loans are piling up. And few know how to unpack the technical signals that show what it all means. Luckily, you've got Dr. Brian Jones on your side... and he'll take you behind the headlines and show you how to stay safe as the floodwaters pour down. [JUST GET ON THE ARK]( ) Enjoying Dawn Report? Learn something, made some money? SHARE YOUR STORY WITH US OR TELL US HOW TO SERVE YOU BETTER. Let us know at info@rogueinvesting.com You’re receiving this email because you're signed up for alerts from Dawn Report. Make sure to keep them coming by [whitelisting Rogue Investing]( ). The information in this email is intended for informational purposes only and does not guarantee specific results as there is a high degree of risk involved with trading. Also, our traders are real traders and may have financial interests in the companies discussed. Please see our [Terms and Conditions]( ) for more information. Sent to: {EMAIL} [Unsubscribe]( ) Rogue Investing, 721 Court St., Unit #1, Lynchburg, VA 24504, United States