The Watchdog on Wallstreet Weekly Recap for 3/20/2023
Trump to be ARRESTED?!?!?!?! – My Thoughts
I don’t know what’s going to happen tomorrow with Trump, Alvin Bragg, protests, and all this other nonsense that’s taking place. But again, this is a political sideshow. Alvin wants to be governor, he wants to be mayor, he wants to climb the ladder, so somebody made a phone call to him and said, ‘Hey, you need to follow through on this because we need a distraction,’ and he’s following suit. With that being said, it’s not fair that Trump is being blamed for everything. Maybe he did some things wrong, but the ultimate responsibility lies with him. Not Alvin Bragg, not Joe Biden, not George Soros, but Donald Trump. Here’s a tip: don’t cheat on your wife with porn stars.
Tomorrow’s Fed Meeting – What to Expect
So all eyes will be on the Federal Reserve tomorrow. Why, I’m not sure. They’ve been wrong for decades. Every time, they go the way of politics or whatever the powers that be and they lower the price of money to levels where it shouldn’t be. We keep running into the same problems. Be in the dot-com crisis. Alan Greenspan discussed irrational exuberance and how he could have increased margin requirements but did not. Cheap money!
I mean, you can go back to the 1987 stock market crash and the savings and loan crisis. This is all fed-induced behavior. Keeping rates too low and then reacting to it at a rate that they just do too quickly. We need a reboot of the Federal Reserve.
Mortgage rates go UP, prices go DOWN
Home sales spiked by 14.5%, yet prices went down. How could that be? It’s very simple – this is what happens when mortgage rates increase. It’s inevitable that prices will come down because not everyone is a cash buyer. Most people take out a mortgage and the portion of the mortgage payment that goes toward interest increases with higher rates. As a result, the price of the house has to come down. I was amazed yesterday when I saw media and business reporters being shocked by this news because home prices haven’t dropped in over 10 years. This is actually good news, as we have a problem in this country with starter homes, and we need to get more younger people into houses.
Major Market sell off!
Did Yellen do it? Was it her fault? Well, Bill Ackman says so. Many people blame Yellen for the market sell-off yesterday at the end of the day, which was over 500 points. Yellen was testifying in front of Congress and said that there haven’t been any discussions about raising FDIC insurance for depositors across the country in every bank. First and foremost, Janet Yellen doesn’t have that kind of power. Congress would need to be involved to make any changes. Furthermore, do people really care about short-term movements in the market? Aren’t they just trading vocabulary words at this point?
TikTok hearing with congress today – Full of Lies
Let’s be honest, if the Chinese government showed up at the front doors of TikTok and demanded they change their logo to the face of Mao Tse Tung, TikTok would do it. They wouldn’t call their lawyers and say they’re breaking our rights and the law. Whose law is it anyway? It’s not a Chinese law for crying out loud. This entire fiasco in front of Congress is just a dog and pony show. The CEO of TikTok reminds me of Tommy Flanagan, the pathological liar, played by John Lithgow on Saturday Night Live. Nonetheless, it is the ticket. He says: “We no longer have access to any additional information. No, we never communicate with government officials.” Yes, this comes from a country with social credit scores. Our very own Black Mirror.
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