Friday Spicy Rant & Markets Intelligence
321: I Grow Tired of The Lies
Happy Friday kings.
Big week of news — be sure to check out the archive from this week if you are a paid sub for all posts and remember that there is a new episode of Risk On on Spotify and on Youtube. Be sure to subscribe as I plan to post more and more content, including all episodes of the podcast there as well.
Financial Markets
The big news today in markets was the jobs report —- US stocks soared on Friday following a stronger-than-expected September jobs report. The economy added 254,000 jobs in September, significantly exceeding (allegedly) the forecasted 150,000. This surge in employment also brought the unemployment rate down to 4.1% from 4.2%.
The report was described as "unambiguously strong" by a leading economist.
Of course — if you’ve been paying attention you know two things:
a.) this is likely bullshit
b.) it’s only a matter of time before we get revisions to these numbers
As ZeroHedge pointed out this morning on X — the 50bps rate cut from the Fed was inherently political as is most of this “data” that is being reported. We live in a time where EVERYTHING is being manipulated to paint a different picture than the actual reality presented before us. Most of this is being done ahead of a key election in the US.
The reality is — the job market is terrible. There are new job cut updates breaking almost every day at this point. Many people have been out of jobs for MONTHS now.
Stocks and crypto love this headline so I am not complaining in the short term but underneath the surface a much more grim reality is likely, whether we see that come out early next year or immediately after the election remains to be seen.
Americans now owe a record $1.14 trillion on their credit cards (Fed Data/Unusual Whales)
A record 785,000 government workers were added in September, pushing total government workers also to a new record high. More gov jobs = more communism (ZeroHedge)
The longshoremen strike has been suspended after workers secured a significant pay increase of 62% over six years. The strike, which affected East Coast and Gulf Coast ports, ended as the union and port operators agreed to extend the contract until January 15, 2025, while negotiations on other unresolved issues, such as automation, continue. All work at the affected ports has resumed.
Jamie Dimon, the CEO of JPMorgan Chase, has denied news that he has endorsed Trump for President.
Some of the biggest movers in markets this week:
Biodexa Pharmaceuticals Plc (BDRX): Up 1,705.63% this week.
Streamline Health Solutions, Inc. (STRM): Increased by 942.12%.
LakeShore Biopharma Co., Ltd (LSB): Rose by 568.82%.
Sify Technologies Limited (SIFY): Up 514.83%.
Fangdd Network Group Ltd. (DUO): Gained 188.08%.
UP Fintech Holding Limited (TIGR): Increased by 149.88%.
Spicy Rant (I’m fed the f*ck up and you should be too)
Here’s a little Friday rant for you.
What in the actual hell is going on in this country?
Put politics aside — here is what we face.
For lack of a better words you live under an occupied regime now — the United States is now compromised. Whether you want to make the argument that it’s purely for power or purely for money (or both) — this is the reality of the situation. Trump is a vessel — he is the individual that, for better or for worse represents half of the country and those who are tired of the establishment’s corruption and abuse of the citizens of this country.
Against him — lies the establishment, compromised largely of far left bureaucrats and sycophants. Corporations align with this class to make more money and drive monopolies. The media ensures narratives are maintained, and big tech censors all opposition and sentiment online to help control what people can find out or feel. Politicians from all sides gather to benefit from this established cabal of power — this is not a blue vs. red issue, though there is overlap of issues between these parties.
I want to be perfectly clear — we are on an unsustainable path that will lead to grave consequences if it does not change course soon. This election will be the deciding factor.
I ride through my Northeastern suburb in fucking awe at the amount of people with Harris/Walz signs in their yards. What the fuck are these people thinking? Insulated from the core issues caused by the establishment class in their homes they bought for $80,000 years and years ago, they live in a soft world. A world in which everything has been smooth sailing and picturesque, sheltered entirely from the deteriorating environment they support with their votes over and over again. Ironically contributing to their ultimate doing.
As the rapper Royce Da 5’9” said: You Gon’ Learn.