The Watchdog on Wallstreet Weekly Recap for 1/16/23
SBF says he DIDN’T STEAL FUNDS
SBF, or Sam Bankman-Fried, issued a big tweet, a big position paper, and basically channeled his inner Nixon stating: “I didn’t steal funds, and I certainly didn’t stash billions away”. So all of those people who worked for him and turned themselves in that are facing jail time. They’re simply admitting to nothing? Listen, I’m being completely honest here; I’ve been fighting rip-offs and scams for decades. That’s what I’ve done for decades, and as I get older, I’m finding it increasingly difficult to feel sorry for people who have been victimized by SBF. You were not a victim; you were simply foolish and greedy.
THE CPI REPORT IS HERE!
We received the CPI report today. The markets are up, down, and sideways everywhere, and with expectations. If you go look at the report, you’ll realize you’re reading yesterday’s weather report.
In this report, they say that rents are still going up and that real estate is still going on, but neither of those things are true. That is not the case. Again, this is what the Fed acts on, and it makes no sense whatsoever. People always say don’t fight the Fed. Let me tell you a story. The Fed has no idea what it’s going to do. It didn’t know what it was going to do in 2001 because what it said it was going to do didn’t happen, so why bother playing roulette? Simply own quality in your portfolio.
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The SEC goes after the Winklevoss Twins!
The SEC goes after the Winklevoss twins. Those twins who claimed to have co-founded Facebook. Do you remember that story? Anyway, they’re in the cryptocurrency business, and it turns out that the Winklevoss twins said, “We’ll take your cryptocurrency if you want.” You’re going to lend it to this company over here and get paid 7% on it. how? I’m not sure. It’s magic. It’s crypto magic. It’s called the blockchain. Anyway, the SEC says it’s a security scam. That’s not right. They’re going after the Winklevoss twins, Genesis, Gemini, and other G’s out there, but the SEC was aware of this the whole time. They didn’t do anything for a while because it was not politically expedient.
IT’S EARNINGS SEASON!
It’s starting to look a lot like earnings season. Yes, much of the old Fed, inflation, and so on will be set aside for the time being. We are going to focus on earning. And many of them come out on Friday, along with bank earnings and the delta.
And guess what? The apocalypse is not yet upon us. We can conclude from the bank’s earnings that they are smart. They are managing the risk. They’re putting more money aside in case of loan losses or credit card defaults, and they’re doing the right thing, but their business is still going strong. Delta, for example, knocked it out of the park in the fourth quarter, and they’re adjusting based on what happens with their union contracts going forward, but there’s no recession yet.
Journalist’s VS Narrative Pushers
I’m also paying attention to Matt Taibbi and Glenn Greenwald and the actual real journalists out there reporting on the Russiagate scandal and all the nonsense that happened with Twitter. It reminded me of a line from the original Star Wars, spoken by Obi Wan Kenobi. “You will never find a more wretched hive of scum and villainy,” he said.
That’s our media, for sure. That’s how you think of our mainstream media… All they did was push a lie and an agenda, and what’s even more disgusting is that they’re writing articles today completely contrary to what they were writing in 2016 to say, “Hey, look, we got it right now.” No, you guys are narrative pushers; you are not journalists.
The Global Elites plan for 2023: Davos Summit
It is once again that time of year, everybody. It’s time for the annual James Bond villains summit known as Davos. It’s time to build narratives. It’s time to look for ways to control the masses, and I’m looking at their website, and you know gone is the new Green Deal and some of the things they’ve mentioned in the past, but now it’s all about new systems. New systems that the world’s elites are gonna use to make your life wondrous and grand.
It’s like something Don Draper would come up with back in the mad man days. It’s all a sales job, and it’s all about control once again. there’s some frightening characters there looking to tell us what to do my friends.
Microsoft LAYS OFF 10,000 Employees
This is big news. Today is a big day for corporate news. Everyone is talking about it. Is Microsoft going to lay off 10,000 employees? Yeah, I read the statement, and this was not surprising by any means if you were paying attention. Microsoft hired far too many people. Since 2019, they have hired nearly 80,000 people.
You could look at worker productivity figures for 2022, and they were not good. Too many companies hired far too many people, and it’s time to revert to being a lean, mean fighting machine. This is what happens during slowdowns and recessions, and the companies that act upon this come out much stronger on the other side.
How to win the Fed VS Earnings game
Listen, there’s an unwinnable game going on right now with your money and your portfolio. It’s being played out between the Fed and earnings. Who is going to win? There is no way to win here. I mean, is the Fed going to lower rates faster or will they pivot? What will your earnings be?
You don’t play in an unwinnable game. It’s like the movie WarGames, where the computer figured out that a global thermonuclear war was impossible to win. Do not participate. Own high-quality companies in your portfolio, and guess what? You can navigate all of the storms, corrections, and issues. If you attempt to guess and trade this, you’re going to completely blow up your portfolio.
Get a free copy of our report, “Growth Without Risk,” to find out how to avoid the bad effects of a bear market while still achieving favorable returns.
Predicting the Market is a never ending game!
Mr. T’s Clubber Lang from Rocky 3 is one of my favorite 1980s villains. Do you remember when he was talking about predictions in the film—predictions for the fight? Pain! Hey, want to hear some stock market predictions for 2022? what they were picking for 2021. Oh, S&P 500: fifty-three hundred, five thousand, forty-eight hundred. I can go down the list. Everyone was wrong, and they weren’t wrong by a little bit; they were wrong by a lot.
What was our prediction? We did not provide one. Why? because that is not what we do. We deal with financial planning. We want to make people wealthy over time. Trying to guess what the markets are going to do over the short term is a complete exercise in futility, and guess what? You do it. Prediction, pain.
Why didn’t the FCC STOP FTX????
The Wall Street Journal published an editorial. It is a question for Congress as to why the SEC did not stop FTX. Scams and rip-offs have hit the streets today, as they do every day. Let’s play a little game here: can you name the last time the SEC stopped a scam? That’s my question to these authors and my statement to everyone else. No, the SEC doesn’t do that. They arrive after the fact. They are in charge of issuing fines. They do everything post-apocalyptic.
Who prepares you for all the scams and rip-offs? Who warns you? That would be us. Learn more about Markowski Investment here.
CHATGPT the GOOGLE KILLER?
Google lays off 12,000 people. Again, they added 12,000 employees in excess of the headcount requirement last year, but there’s more going on behind the scenes. Guess what? Sergey and Larry are back. Yes, they’ve returned. They’ve been holding meetings over there. This new artificial intelligence, ChatGPT, is throwing them off, and they’re concerned. Obviously, when your company becomes a verb Google and you have competition, you better pay attention. if you’re not growing, you’re dying. and they clearly need to make some significant changes going forward. They are once again confident that they will be able to pull it off.
- YouTube Link > https://youtu.be/X-H1BsLxmnU
The Fed is looking into Goldman Sachs
What are you up to, Goldman Sachs? They were, once again, the standard when I was younger. They were a private partnership that people looked up to in terms of how they did business. how they handled their business. I studied them. There are books written about how they did things. Let’s just say things changed after they went public. They were heavily involved in the subprime nonsense. They almost didn’t make it out of that. They were, in essence, part of the bailout. Stuff that would never have happened in the past. Now, there’s a story about their consumer division floating around. Remember Marcus? yeah, Goldman wanted to get involved in all that stimulus money and started issuing subprime credit cards. Now the Federal Reserve is looking into some of the things that went on, and they have some of the largest default rates going.