Senior Managing Editor of The Freeport Society
The best word to sum up this week?
Catfights.
All… week… long.
Super Tuesday… Thursday’s State of the Union address… all talk that will continue to lead to no action.
The U.S. government today is unsettlingly similar to the U.S. “Ghost Army” of World War II. Officially known as the 23rd Headquarters Special Troops, this 1,000-person covert unit was a mix of artists, radio broadcasters, sound engineers, actors, and architects. Oh, and there were a few professional soldiers as well.
According to HistoryFacts.com, this group spent their time fooling the German forces. They set up dummy artillery on Omaha Beach after D-Day. They placed dozens of fake tanks to create the appearance of more troops than there really were. They took to local bars and cafés and spread lies for German soldiers to report back to their leaders.
All of it, misdirection.
Wouldn’t you agree that this sounds disgustingly close to what our politicians do today?
The biggest difference between the two is that the “Ghost Army” did good. They saved lives. On the other hand, the American government is destroying lives thanks to their duplicity and fiscal irresponsibility.
That’s why we formed The Freeport Society. To empower you to protect yourself from the asininity spewed from our leaders daily… and to position you to thrive so you can achieve the American dream despite their efforts to stop you.
Let’s look at how we did that this week…
99 Stocks Political Insiders Are Buying Before the Election
If politicians are good at anything, it’s scheming their way into power. That includes financial power. Check out where these clowns in suits invest and trade their money. Details here.
What It Means When Warren Buffett Stops Being Polite
We can almost always count on Warren Buffett for his optimism in America. But when he thinks we’re screwed, we have to listen to the man. In his guest essay, James Hickman warns of a change in Buffett. Read Hickman’s take here.
DEI Just Murdered Another Good Business
Yesterday was not a good day for iconic lingerie maker Victoria’s Secret. It was the single worst market day in the company’s standalone publicly traded history. But why? Find out here.
Looking Ahead
Federal Reserve Chairman Jerome Powell faced off with members of Congress on Wednesday and Thursday. His testimony, comments, and answers are a mixed bag. He warns that there will be bank failures as a result of the commercial real estate meltdown gathering momentum. He reckons a soft landing is now unlikely. And while he hinted that rate cuts are still possible this year, it all depends…
Friday’s jobs report spurred some hope in investors, with the numbers blasting past expectations. Unemployment rates rose for the first time in months… which just goes to show how backward investors’ thinking is.
As long as employment is strong, rate cuts remain unlikely.
If more people lose their jobs and can’t find another and must rely on government handouts, rate cuts become more likely.
Put another way: It’s bad if you’re doing OK and good if you’ve lost your means of earning money and, I don’t know, feeding yourself and your family, keeping a roof over your head, and paying taxes.
Age of Chaos indeed!
Charles will be watching Bitcoin and gold closely next week. They’ve been on a tear lately, and if they continue their rise throughout next week, there’s a reason to start preparing for what comes next. And I warn you, what comes next is not good. We’ll share more soon. Stay tuned.
To life, liberty, and the pursuit of wealth.