The Watchdog on Wallstreet Weekly Recap for 11/14/2022

11/14/2022 Who has the power for debt forgiveness?

Let’s play a little game today. A “who said it?” game.  

“People think that the President of the United States has the power for debt forgiveness. He does not. He can postpone. He can delay. But he does not have that power. That has to be an act of Congress.”

Who said such a thing about taking power away from the president? We’re talking about student loan debt forgiveness here. Was it Senator Ted Cruz? Was that Senator McConnell? That was in fact – Nancy Pelosi. And the judge’s ruling basically struck down the Biden student debt forgiveness plan. Yes, he did indeed quote Nancy Pelosi.

11/15 Why are Boston’s politicians upset?

Boston’s politicians are upset. They are upset that Walgreens has decided to close three stores in Boston, where most of the people who live there are black or Latino, saying it’s racist. Do you believe Walgreens intends to close these stores? Do you not realize that this is a publicly-traded company that is in the business of making and maintaining a profit? Therefore, the Boston City Council believes that Walgreens should operate in unprofitable neighborhoods. You left these here in order to utter this nonsense. 

Here’s an idea: Walgreens is leaving. You have three open spots now, so why don’t you and your friends open up a pharmacy, haberdashery, or whatever you want to call it and see if you can earn money?

11/16/2022 Why do you need to focus on quality and your portfolio?

A lot of news to report today! Amount of data showing a downturn in industrial production. Retail sales are up. A huge proportion of revenue is generated by major retailers. Target is not doing so well. Lowe’s is good. TJ Maxx is good. What does all of this mean? Numerous things are being thrown at us all at the same. It’s a mishmash. Increased retail sales are mostly attributed to inflation. Supermarkets and petrol stations performed really well. Why did they do so well? 

They may be going more, but the fact is that they’re spending more. There is still a great deal of uncertainty in the atmosphere. A great deal of ambiguity. You must therefore place greater focus on quality and your portfolio. To get started, make an appointment with Markowski Investments for a FREE financial consultation. Let us help you create a sustainable financial plan. Make sure to get in touch with us today.

11/17/2022 What is the Federal Reserve motto?

The Federal Reserve should use the phrase “a day late and a dollar short” as its motto or mission statement. They never succeed in doing it right. When it came to inflation, they did not handle the situation well enough. All they needed to do was start raining, and then a little increases, but back then they’d say that everything was OK and that it was just transitory inflation. 

Now, they can’t even read into the numbers that are currently being released on rentals and retail prices. You can observe the effects of the slowdown in the economy by looking at the earnings of various companies. If you do this, you will understand what Walmart is trying to convey when it says, “Hey, we had a whole new group of people coming into our shop who weren’t here because they’re trying to save money.” All of these are signs that you need to take some action.

11/18/2022 What did Icarus warn people to avoid?

This last week has garnered considerable attention due to the explosions in the cryptocurrency market and the popularity of FTX. I have a true passion for Greek mythology, and over the years, I have made references to it in a number of different stories. I’ve written about it. And to go back to the 1990s and Icarus in the stock market, warning people to avoid dot-coms. 

I feel like a combination of Sisyphus and Cassandra. I warn people. We try our best on podcasts, radio shows, and money minutes to warn people about strip-offs, scams, and everything else that exists; nonetheless, it would be wonderful if more individuals listened to us. FINRA issues a warning about pump-and-dump schemes on U.S. exchanges. That’s nothing new. This has been occurring. And it’s just a reincarnation of the old boiler room fraud.