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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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ECONOMIC EVENTS

 UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...

***2024***
* Wed. Feb. 21 @ 2:00 pm ET - FOMC Meeting Minutes
* Wed. March 6 @ 2:00 pm ET - Beige Book Report
* Fri. March 8 @ 8:30 am ET - Employment Data
* Wed. March 20 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference

*** CLICK HERE for link to Economic Calendars for all upcoming events.

Friday, August 04, 2023

"BIDENOMICS" At Work: Fitch Downgrades U.S. Rating From AAA to AA+

Since he took office on January 20, 2021, President Joe Biden's far-left, so-called, "progressive" economic and energy policies have, in fact, been regressive, reckless, and punitive for Americans

Their income shortfalls versus much higher expenses are proof during this period of high inflation (at levels not seen for 40 years).

In fact, all of his "objectives" have been failures, as detailed in this article.

The U.S. has been stripped of its AAA-rating by Fitch and downgraded to AA+, as noted in the following article.

No wonder he's not busy on the campaign trail trying to sell his self-proclaimed "Bidenomics" (which includes his failed ESG policies) to everyday Americans...instead he's either been lounging at the beach or meeting with with his rich campaign donors, hoping to be re-elected in 2024. In fact, as of July 7, 2023, he's taken 352 total vacation days (39.2%) since he became President!

I think he's in for a rude awakening, if the majority of everyday Americans show up at the ballot boxes, inasmuch as they're "sick and tired of Bidenomics."




Meanwhile, Joe's been busy depleting the U.S. Strategic Petroleum Reserves and selling oil to economic and national security rival China, following a secret deal made by Biden's Energy Secretary in 2021 [tying in with Joe's son's (Hunter) business ties with China's largest energy company]. 

More details on Hunter Biden's (including the Biden family's) multiple foreign business shenanigans and influence peddling operation involving the receipt of millions of dollars over the years, some of which were solicited while Joe was Vice-President under former President Obama, and perhaps while he was a Senator, can be found here.

It's a wonder that Joe Biden hasn't been impeached yet, given all that various Congressional House committees have recently uncovered, so far...but that may just be a matter of time, inasmuch as House Speaker Kevin McCarthy is weighing whether to launch impeachment inquiry proceedings...as more damning evidence against Joe continues to surface every day.

* UPDATE Sept. 6...

No one can afford Joe Biden's "green energy" ESG projects, as they flounder in massive debt, supply-chain problems and cost-overruns. 

Everyone could see that coming, except for Joe...whose socialist policies and agenda are crippling Americans through perpetual bailouts of his party's rich cronies/donors/investors/business tycoons, which contribute to out-of-control persistent inflation.

Not only that, this agenda is a danger to national security.

And, with over 1600 world climate scientists signing a formal declaration that there is no climate crisis, one wonders why President Biden and other world leaders have been pushing the opposite narrative at all...particularly, since not one of them is qualified or credentialled to make those claims and create policies, laws, and mandates around such lies. 🤔

* UPDATE September 11...

Excellent questions, indeed...perhaps the answers are coming soon, before more damage can be heaped on Americans by Joe Biden and his extreme far-left socialist policies...


* UPDATE September 12...

House Speaker Kevin McCarthy announced this morning that he is directing the House to begin an impeachment inquiry into President Biden, based on a number of facts and alleged crimes they've already uncovered, which merit further investigation, such as abuse of power, obstruction, and corruption.

No doubt this will put a crimp in Joe's "Bidenomics" claim to fame, as well as his planned second-term Presidential re-election bid in 2024.

Stay tuned for eventual fireworks and more shocking revelations.


* UPDATE September 13...

You can thank President Biden's "Bidenomics" for this inflation hot mess...