N.B. Parts I and II regarding President Biden's massive policy blunders and scandals are described, in detail, here and here, respectively, for your edification.
Due to the extensive length of the prior articles, I've had to break them up into parts...Part III begins, as follows.
Today begins with the release of the latest CPI numbers.
As I've previously detailed, ad nauseam, Joe Biden's failed policies are to blame...as the U.S. National Debt continues its parabolic spike above $31 Trillion...and, as U.S. National Security spirals further into a deep hole, thanks to his domestic and foreign actions, to date (e.g., Afghanistan...he was on holiday during that fiasco!)...etc.
Even though Trump is NOT the current President, Wall Street still likes to bash him, even though the U.S. economy was exceptionally strong under his conservative policies, numerous accomplishments and his strong leadership).
As an aside, Dimon's bank, JP Morgan Chase & Co. (JPM), is trading above a major support level of 100.00, as shown on the following monthly chart...after plummeting from its parabolic high of 172.33, set in November 2021.
It has traded almost in lock-step with the Financials ETF, XLF. Should XLF continue to drop, it may drag JPM down to 100.00, or lower, as well.
As noted in the article above, they are expected to report their Q3 earnings tomorrow...so, we'll see what happens.
So far, Joe Biden has:
- BRAGGED about ending the fossil fuel industry during (and after) his 2020 campaign for President (while draining America's Strategic Petroleum Reserve for political gains),
- BLAMED eveyone and everything (Putin, the war in Ukraine, oil companies, Trump), but himself for spiking oil and gas prices and inflation, and
- BEGGED dictatorships to produce more oil (Saudi Arabia, Venezuela, Iran).
So, will these guys vote for Republicans in the November midterm elections?
If not, what's their excuse for whining after that? 🤔
* UPDATE Oct. 19...
Sounds like the DOJ/FBI have been dragging their feet on this long-standing issue and have some explaining to do...
* UPDATE Oct. 24...
They're not alone...😕
* UPDATE Nov. 3...
Biden's..."'hostile' federal administrators installed to attack the energy industry."
Not only that, and, as a result of high inflation and energy prices, it seems that Joe Biden doesn't care how much pain and hardship his draconian policies cost his citizens and turns them into debtor-serfs.
He's tone-deaf to their struggles...and voters are noticing.
We'll see what happens on November 8 (midterm election day)! 👀
If a "red wave" occurs (Republicans retake the House and Senate with a clear majority), President Biden has no one but himself to blame! 🤔
The following article lays out an excellent summary of Joe's "accomplishments" during the past two years.
It's not a pretty picture...
If Democrats think that Barack Obama's voice on the campaign trail in the days before the midterm election will be a plus for their party, they've obviously forgotten all about the 1,000+ seats he lost them during his 8 years as President!