Postcards: Does Yesterday's Date Sound Familiar?
It's been 15 years since an infamous date in market history... the latest on inflation and the debt ceiling... next week's trading schedule... and my thoughts on France.
Readers can download the PDF version below. But please leave comments behind…
Saturday, May 20, 2023
Dear Old Friend,
We just had a six-hour pause in the Washington D.C. debt ceiling debate.
The pause offered time for most participants to slam three martinis and a ribeye at The Palm. Now they’ll fight for six more hours over the paper colors of the bill they use to make America poorer.
Yesterday’s fight was actually about when the next debit ceiling fight will occur. Democrats want extensions until after the 2024 election. Either way, they’ll kick the can down the road. More inflation is coming… Guess they’ll beat the June 1 deadline.
Bastille Day is the Sleeper Event of the Decade…
I’m about to praise the French government. French President Emmanuel Macron has called for an environmental “regulatory break” to help his economy… survive. France is implementing its “Green” policies too fast without a Plan B when things go wrong. The U.S. needs to pause as well. Automakers are struggling with E…
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