The eminently stupid debate about raising the debt ceiling is underway.
We all know how it is going to end – it’s just a question of how much damage is done in the meantime.
This is also coming at a time when the Fed is doubling down on its hawkish policies.
Federal Reserve Bank of New York President John Williams suggested there are probably more interest rate hikes to come.
“With inflation still high and indications of continued supply-demand imbalances, it is clear that monetary policy still has more work to do to bring inflation down to our 2% goal on a sustained basis,” he said,
That’s very far away… and it’s especially scary that he’s echoing what the European Central Bank said earlier this week.
There’s also another one of these “good news is bad news” situations. The number of those seeking unemployment benefits hit a four-month low last week.
Good news for American workers? Absolutely.
Good news for central bankers worried about inflation? Absolutely not.
Get ready for some pain, courtesy of the Fed. Of course, I mean pain for other people.
Chris Hood and the TRADECOMMAND team are on a historic winning streak.
They beat the market by an insane 14,333%.
EIGHT triple-digit winners in December, FIVE SO FAR in January.
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As Chris explains in today’s Hood Talk, sitting still in this market is not an option. You need to find a way to turn these dangerous conditions to your advantage.
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The best part is if don’t make $97 in profits… you’ll get a complete refund.
Sit and hold is not an option.
It’s time to run towards the chaos and fight.
And with this guarantee, what do you have to lose?
Keep Moving,
WORD ON THE STREET
NFLX Is Blazing HOT, but losing its CEO
- A Job Well Done – The streaming company Netflix (NFLX) has made some pretty bad shows lately. But hey, what really matters is the subscriber count. Netflix tacked on an astonishing 7.66 million subscribers in the fourth quarter. Expectations were just 4.57 million. Yet turmoil is ahead… founder Reed Hastings is reducing his role to executive chairman and will no longer be co-CEO.
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Bezos Makes His Presence Felt At Washington Post – At the end of the day, journalism is nothing but scribbling on the back of advertisements. It’s a business and these days, that means layoffs are coming. Jeff Bezos sat in a recent morning news meeting for the first time at The Washington Post, which he owns. It’s awkward because reporters allegedly discussed their coverage of Amazon. “I’m delighted to be here and see all the faces,” he said to the staff. I’m guessing the feelings were not mutual.
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Cathie Wood Predicts Oil Plunge – So that might be a pretty good sign oil prices are about to surge. (She didn’t have a good record in 2022). Wood said that “we believe that the demand for oil is going to drop over the next five years,” citing 30% as her estimate. In reality, oil futures are up based on increasing demand from China and the effect of the ban on Russian oil products imposed by the European Union.
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Massive Strike To Hit Britain – Thousands of health care workers in Wales and the Midlands will go on strike on Monday to protest the Conservative government. Thousands more workers are set to vote on whether to join the strike. Prime Minister Rishi Sunak introduced legislation that would restrict strikes in order to ensure emergency health care is still available.
HOT SPOTS: What’s Going on in Geopolitics
- It Could Always Be Worse – A lot of people had a bad 2022 (looking at you Cathie Wood). But perhaps no one (outside FTX) had the kind of year Hui Ka Yan had. The chairman of the powerful Chinese Evergrande group has seen his personal wealth decline from $42 billion to “just” $3 billion. You might be tempted to play the world’s smallest violin – except he’s also becoming increasingly isolated as the Chinese Communist Party continues to assert its control over formerly powerful business leaders.
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CIA Held “Secret” Meeting In Kyiv – I guess it wasn’t so secret then. CIA Director William Burns went to Kyiv at the end of last week for a secret meeting with President Volodymyr Zelenskyy. The regime has strong ties with Director Burns because of the CIA head’s hawkish position on the war and determination that the Russian government will not negotiate.
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Is Putin Alive? – Rumors about President Vladimir Putin’s health have been swirling in the West ever since the beginning of the war. Now, President Zelenskyy has gone farther than anyone, questioning whether the Russian strongman is even still breathing. “Right now I don’t understand to talk to,” he said. “I am not sure whether the president of Russia is still alive.”
CUTTING EDGE: What‘s Happening In Tech
- 37 Million T-Mobile Customers Hacked – In a financial filing yesterday, T-Mobile admitted that a hacker gained access to the information of an estimated 37 million accounts. The leaked data included basic biographical information, account numbers, and plan information. The company said the hack was not detected until a month after it happened and was not fixed until January 5.
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FBI Admits “Collaboration” With Back Tech At Davos – This should calm down all the conspiracy theories. “I think the sophistication of the private sector is improving, and, particularly important, the level of collaboration between the private sector and the government,” said FBI Director Christopher Wray. He added that the domestic police agency has made “significant strides” working with tech companies.
- Another One Bites The Dust – The crypto exchange collapse just goes on, and on, and one. Now, the lending unit of cryptocurrency exchange Genesis is filing for bankruptcy. Genesis is currently in a fight with Gemini (you know, the crypto exchange owned by the Winklevoss twins.) It’s unclear whether customers will be able to get their money back.
FOR YOUR CONSIDERATION
“The global markets are on the brink of something massive.”
“And it isn’t going to be good for buy-and-hold investors…”
Think you can ride out the current volatility? Think again. This is not a market that rewards patience.
Your Options Coach Chris Hood knows – his TRADECOMMAND system has a near 90% win rate, with 8 triple-dight winners in December and 5 so far this month.
Don’t worry. He’s got your back. Here’s how to brave this storm… and leave the others behind.
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