NO DEFAULT... for now

GOP, Biden cut deal, but not yet ratified ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Disaster has been averted. It looks like Speaker of the House Kevin McCarthy and President Joe Biden have cut a deal to avoid a default and raise the debt limit for the federal government. The Republicans get a few benefits, including more work requirements for welfare and some spending cuts. But the Democrats can still walk away with significantly more fiscal leeway. Both conservatives and progressives are angry, which will probably be used as grist by both party leaders that this is in fact a reasonable compromise. Does it take the United States off the long-term road to fiscal ruin? No of course not. But that's probably impossible. In these kinds of fights, the GOP would likely get the political blame if there was in fact a default. And though much of the American public favors spending cuts in general, it's difficult for politicians to overcome the attachment people have for specific government programs. It's one thing when you say the government is spending too much. It's quite another if the government is actually going to take money out of your pocket. Long term of course, the debt payments on the interest are going to bankrupt the United States unless far more revenue is raised via taxes... And new taxes have a way of reducing economic growth, which would make the overall problem even more serious. Yet these are problems for another day. A default would have made all these problems worse. Our job is not to save the country from the government... It's to ensure our own futures, regardless of the stunts DC pulls. Keep Moving, "Oil is ready to burst..." I wrote that line in an email over the holiday weekend. The week before that, Warren Buffet snatched up another 3.46 million Occidental Petroleum (OXY.N) shares - and now has more than $40 Billion invested in oil. This train is leaving the proverbial station - don't be left behind wondering how you missed out. Click the video below to seize this opportunity. WORD ON THE STREET Debt Battle Coming To Congress - Deal Reached But Not Ratified - The House Freedom Caucus may prove to be a problem for House Speaker Kevin McCarthy as he tries to unite his party behind a deal negotiated with President Joe Biden. If approved, it will prevent a potentially catastrophic default if the United States cannot raise the federal debt limit. - Turns Out State Farm Isn't There - The risk of wildfires in California has become so great that State Farm will no longer accept new homeowners insurance applications in California. "We take seriously our responsibility to manage risk," said the company. "Historic increases" in construction costs were also blamed along with fires - Disney's "Little Mermaid" Remake A Hit - The live-action remake of "The Little Mermaid" beat the box office competition Memorial Day weekend, bringing in at least $117.5 million. Young adults were a key audience for the film, with buyers between the ages of 25 and 34 more common than children. - Lululemon Fires Employees For Calling The Police - Going to be hard to stop losses due to theft if this policy sticks around. When a group of men that had repeatedly burglarized an Atlanta Lululemon robbed it again, this time an employee caught it on film. The store reportedly fired two employees who called the police. The chain reportedly has a "zero-tolerance" policy for chasing to physically deterring thieves. HOT SPOTS: What's Going on in Geopolitics - Erdogan Triumphs In Turkey - President Recep Tayyip Erdogan has won reelection, giving the incumbent a third term and letting him lead into a third decade. The longtime head of state won by 52% to 48%. - Ukrainian Commander Promises Counteroffensive Soon – Gen. Valeriy Zaluzhnyi said "it's time to get back what's ours." Another Ukrainian leader promised attacks within a week. - Russia Hits Kyiv With Largest Drone Attack Since The Beginning - Kyiv's mayor said his city had suffered a "massive" attack with drones hitting "from several directions at once." Ukrainian authorities claimed they had shot most of them down, but several buildings were damaged. CUTTING EDGE: What[']( Happening In Tech - Someone's Coming For Your Job - Nvidia CEO Jensen Huang said that companies that don't take advantage of AI will "perish." Only the strong will survive in the job market as well. "While some worry that AI may take their jobs, someone who's expert with AI will," he warned. - Price Bubble For AI? – Rosenberg Research president David Rosenberg said AI stocks are being pushed to unjustified highs. "No question that we have a price bubble," he said on MSNBC. "It's way overextended," he said of the NASDAQ's recent rally. - EV Now World's Top Selling Car - The Tesla Model Y is the world's bestselling car, the first time an electric vehicle has that honor. The Model Y is at the top of the global sales rankings according to analyst data from Jato Dynamics for the first quarter of 2023. The Model Y hit this milestone despite prices starting at $47,490 (Image: [Alexander Migl]( - CC. BY-SA 4.0) FOR YOUR CONSIDERATION --------------------------------------------------------------- "I said it was the Trade of the Decade and I still do."AI is driving a massive rally in the NASDAQ that has shocked observers. NVDA is surging... but is there another stock that is being overlooked? Mr. X thinks there is. [THE TRADE OF THE DECADE REVISITED]( 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