Remember, money and power flow from the top down…
And we’ve got a true battle for the ages shaping up.
Elon Musk’s acquisition of Twitter has been, well, controversial.
Even the White House says it is keeping a “close eye” on the bird app to make sure it is not a “vector for misinformation,” as one journalist put it.
However, there’s one company that could simply nuke Twitter from orbit… and that’s Apple.
The App Store gives the company unprecedented power over the digital marketplace.
It’s for that reason that the European Union is investigating it, to make sure it doesn’t have too much power.
Yet here in the States, one could imagine politicians “suggesting” to Apple that it remove Twitter from the App Store and solving the problem.
Of course, Elon Musk wouldn’t take that lying down. After alleging yesterday that he’s getting pressure from Apple, he said that a Tesla phone could be in the works if Apple wants to throw hands.
It would be a two front war for Apple.
The company is already having serious trouble because of the chaos in China, especially at its factories…
And AAPL may face accusations of helping the Communist government crack down on dissenters.
Hang on, it’s only going to get crazier from here.
WORD ON THE STREET
Musk v Media, Rotten Apple, Deutsche Doomers
- German Bank Fears Götterdämmerung – All right, maybe not the end of all things, but Deutsche Bank hardly has an optimistic forecast for the economy. Researchers at the bank argue that a recession is likely to hit by the middle of next year, leading to a 25% plunge in the stock market. However, if the recession can be contained, the bank predicts the market will regain its losses by the end of 2023.
China Troubles Spoil Apple – Apple (AAPL) was down more than 2% as iPhone productivity has taken a hit from COVID-19 lockdowns and the spreading protests against them in China. A production shortfall of almost 6 million iPhone Pro units this year has been projected.
You Come At The TecnoKing, You Best Not Miss – Elon Musk alleged on Twitter that Apple has stopped advertising on the platform. More importantly, Musk said the company is threatening to remove Twitter from the App Store. “Do they hate free speech in America?” asked Musk. Musk also took a shot at journalists, whom he accused of also favoring censorship.
Biden Begs Congress For Help – The midterms are over, which means President Joe Biden can take a political hit or two. That’s good, because the Commander-in-Chief is being forced to grovel before Congress for help in avoiding a railway strike. The president said that there is “no path to resolve the dispute at the bargaining table” between unions and railway management.
Trade of the Decade: The Most Critical Stock to Own Now
Mr. X identifies “the most important company that you’ve never heard of…” and how you can take advantage of it to reap potentially life-changing profits.
HOT SPOTS: What’s Going on in Geopolitics
- Russia Postpones Nuke Talks – Talks to reduce nuclear weapons that would have been held in Egypt have been “unilaterally postponed” at the insistence of Russia. The American State Department says it is ready for talks to resume at any time, but it’s fair to say Russo-American relations are not in a good place right now.
American Embassy Warns Citizens In China – The American Embassy sees more trouble ahead in China. It has advised all American citizens to keep at least a 14-day supply of “medications, bottled water, and food for yourself and any members of your household.” Protests in China are spreading, putting the government in the difficult position of either outright repressing them or looking weak by backing down.
Volcano Erupts In Hawaii – The world’s largest active volcano, Mauna Loa, has erupted. Parts of Hawaii are under a “warning” condition for ashfall as the volcano erupted for the first time in 38 years. That said, officials say no settlements are threatened… for now.
CUTTING EDGE: What‘s Happening In Tech
- BlockFi Bankruptcy – The contagion within crypto is spreading. BlockFi has filed for Chapter 11 bankruptcy protection. The bankruptcy filing shows that one client has almost $28 million. A subsidiary in Bermuda has also filed for bankruptcy protection.
Brits Back Down On Speech Controls – An Online Safety Bill in the United Kingdom has been modified out of free speech concerns. The bill previously required platforms to remove content that was harmful but still legal. However, members of the Conservative party said that as written, it was too censorious – and would likely be used by a future Labour government to silence political opponents.
- Record Cyber Monday – While many expect a recession in 2023, for now, sales are still booming. Adobe Analytics reported that retailers were on track for $11.6 billion in sales for “Cyber Monday.
FOR YOUR CONSIDERATION
“Both offensives – the strategic attacks on Ukraine’s power and the ‘meat grinder’ of Bakhmut – only make sense if the Kremlin is seeing a war that will take place over years.”
The war in Ukraine rages on… but some investors seem to believe it could end any day. Mr. X says that’s not very likely… especially as Russia is on the attack.
Don’t miss this column. The war is going to shake the global economy over the next year… and optimists who think we’re on the verge of peace are going to take an L in their pocketbooks, as well as their pride.
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