From This Week's "Smile File"...Best Phrase Of The Week 😏

I think Treasury Secretary Scott Bessent nailed it today when he described former President Joe Biden's economic agenda during his one term in office as "orgiastic government spending."

It seems that President Trump's goal is to reprivatize many federal government jobs via an in-depth multi-agency review of waste, fraud and abuse, along with a cost-cutting task, that was handed to the newly-created (temporary) Department of Government Efficiency (DOGE).

They have until July 4, 2026 to complete their assignment...so, we'll see how this impacts fiscal and monetary policies, as well as the overall health of the economy and national security issues by that deadline.

Source: Real Clear Politics

Real Clear Politics excerpt

Twitter's Suppression Of Free Speech Exposed

* See UPDATES below...

As promised by Twitter's new private owner, Elon Musk, he's making public the massive suppression of free speech actions taken by former Twitter executives and employees on its social media platform in coordination, primarily, with Democrats and Joe Biden's presidential campaign staff. 

For background, I've written extensively on Joe Biden here, here, here, and here.

The following tweets lay out Twitter's actions taken in the days leading up to the 2020 Presidential election...where information (first reported by Miranda Devine in the New York Post) was suppressed on its platform in connection with Hunter Biden's laptop.

Link to Miranda Devine on Twitter

Link to tweet

Much more will be released over the coming days...THEY ARE EXPLOSIVE!

THE TWITTER FILES:

Link to TaraBull's Twitter Thread of ALL TWITTER FILE Releases

THE TWITTER FILES: Part One...

META: Tech-Wreck's Leader Of The Pack

* See UPDATES below...

The following one-year charts and year-to-date percentages gained/lost graph show how much the 10 Technology stocks within the FNGU ETF have dropped during those periods.

META (Facebook) has lost the most, percentage-wise (70.51%), so far this year, followed by:

• NVDA (52.93%),
• NFLX (50.91),
• BIDU (47.21%),
• BABA (46.34%),
• AMZN (37.97%),
• TSLA (35.13%),
• GOOGL (33.53%),
• MSFT (29.41%), and 
• AAPL (11.93%).

FNGU has, itself, lost 87.05% this year.

Further weakness in META could drag these stocks lower...one to watch...along with the VXN:NDX ratio, as described in my post of October 18.

One-year Daily Charts

Year-to-date Percentages Gained/Lost graph

META has been running in circles...and is back in 2016 territory...

P.S. Is AMZN next? Note the parabolic rise...usually followed by a similar plunge.

* UPDATE Oct. 31...

Oh my! 😲

No wonder the Biden administration does NOT want Republicans taking control of the House and Senate in the midterm elections...who will, surely, add this to their growing list of intended investigations!

Source: ZeroHedge

Link to tweets

* UPDATE Nov. 1...

Some interesting statistics...(N.B. TWTR was delisted from the NYSE on November 28, since it was privatized, following its sale to Elon Musk)...

* UPDATE Nov. 4...

Who wouldn't like to a fly on the wall during these upcoming depositions?

Things should get "interesting" as Americans finally get the transparency, to which they are fully entitled.

Source: ZeroHedge

* UPDATE Nov. 6...

With META reportedly poised to announce thousands of job layoffs sometime this week, it should be a wild week in markets with all eyes on Tuesday's midterm election results...isn't it interesting that they're waiting until after that to announce! 🤔

Source: ZeroHedge

ZeroHedge excerpt

ZeroHedge excerpt

* UPDATE Dec. 3...

More information on Elon Musk, his private purchase of Twitter, and his actions to make public Twitter's shocking suppression of free speech under its former executives and employees can be found here.