postcards: swiss lakes, fake debt drama, opec media blackouts, and a safer way to short nvda.
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what you missed, what I’m watching, and what’s investable today
Thursday, June 1, 2023
Dear Old Friend,
The Swiss lakes are lovely.
But I can’t say the same about this debt deal.
Yesterday, we saw more choppiness and a large move down in the financial and energy sectors.
This morning, futures are largely flat after the House of Representatives passed a farcical debt ceiling hike that does nothing to prevent the U.S. government debt from barreling toward $50 trillion by the time I turn 50 years old.
Government spending jumped by 40% from 2019 to 2023, and entitlement programs are unsustainable.
Prepare for more inflation – with leaders lying about where it originates.
OPEC Did What on Wednesday?
As predicted, the markets are in turmoil now that I’m abroad and only checking devices in the evening… What a chaotic Wednesday.
Financial stocks are bleeding, and energy names are under even more stress. Imagine my surprise when I looked at the U.S. news and saw that OPEC+ has banned Reuters, Bloomberg
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