Current Outlook
"Tensions are
increasing...."
While the Federal Reserve trys to walk a tight rope between interest
rates and a rising federal deficit, gold and silver continue to set new
highs.
Problems of military esculation on every front from the Mideast,
Ukraine, and China and Latin America continue to face a weak and
confused Biden Adminstration.
Fulll-time jobs continue to deteriorate while part-time and
government jobs increase. A sign that U.S. manufacturing
capability continues to decrease. Of course, the sale of U.S. Steel to
the Japanese only confirms our inability to compete.
Was the Baltimore bridge collapse accidental? The threat of a
terrorist attack against U.S. infrastructure can not be dismissed
easily.
Moreover, the need to rebuild U.S. miliary stockpiles will take
both time and money. Moreover, the woke military can not fill its
enlistment quotas and the size of our Navy continues to shrink.
With the current stated federal debt about $33 trillion
(about 100% of true GDP) and the GAAP federal debt over $200
trillion, the day of reckoning is just around the corner.
Economic data is revised and methodology changed to present a false
picture for the public.
Major U.S. real estate companies are declaring bankruptcy as
U.S. interest rates approach 6%. Both credit card and auto loans are
looking at increasing delinquency rates.
The growth in credit card debt is greater than the growth in personal
income as individuals try to maintain their standard of living.
Do not be surprised if the NASDAQ falls through 8,000, the SPX
to 2,500 and the DJIA sees the 25,000 level.
Until the Biden Administration takes seriously the impact of
open borders and a failed education system, the outlook is less
than rosy.
Remember -- "Only purchasing power counts!"
Remember to ... "Keep It Safe, Simple and Stay Focused!" going
forward.
Fred Richards
April 1, 2024
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