DearInvestor, We don't have a crystal ball. That being said, we do think it's fair to assume that post-Election Day on November 5, 2024, roughly half the country is going to be extremely disappointed. Whether chaos ensues after Election Day is anyone's guess. An interesting, related aside… an alarming 47% of Americans think a civil war is likely in their lifetime, according to a 2024 Marist National Poll. So yes… the stage is somewhat set for chaos. Whether consciously or sub-consciously, most voters will head to the polls on Tuesday concerned with how U.S. politicians are completely screwing up the American dream. - If you're a Republican, you likely think the problem lies with Democrats.
- If you're a Democrat, you likely think it's a Republican issue.
SPOILER ALERT: U.S. politicians screwing up the American Dream has bipartisan support. In this edition of Weekend Reading, we're hear to tell you a heartbreaking story of debt, insider trading, and what it means for your portfolio. But first, some quick links to get your weekend started right: - [WATCH] Stagflation Survival Guide: The Best & Worst Assets In High Inflation, Low Growth: Hedgeye CEO Keith McCullough recently joined David Lin, host of The David Lin Report, to discuss the current "stagflationary" U.S. economic environment and its implications for investors' portfolios.
- [WATCH] Election Aftermath: Keith McCullough's Guide to Investing in Uncertain Times: Join Hedgeye CEO Keith McCullough for a critical post-election investing webcast on Thursday, November 7, at 11:00am ET. With the Presidential election "behind us," investors are bracing for potential volatility, confusion, and heightened anxiety. In this free webcast, Keith will share insights on how to safeguard your investments and navigate the market's twists and turns during these uncertain times.
- The BEST DEALS We Offer All Year are live now! 😊
Let's get into it. In the last 30 years, the U.S. has piled on a mountain of debt. - In 1994, total U.S. debt was $4.7 trillion—about 65% of GDP.
- Today? It's nearly $36 trillion, or 122% of GDP, the highest in U.S. history.
"As a Canadian from Thunder Bay, Ontario, the 'American Dream was on my mind when I first stepped on the Yale University campus in 1995," Hedgeye CEO Keith McCullough said recently. "Even a knuckle-headed hockey player like me could understand that America was on much sounder footing back then." The U.S. national debt today is $35.800,000,000,000. That's… - $106,134 per citizen
- $271,888 per taxpayer
Let's make this even more simple and pretend the U.S. government is a family. If the U.S. government were a single family household… Let's simplify things and remove 8 zeros: - Annual Family Income: $50,000
- Annual Family Expenditures: $65,000
- New Debt on Credit Card: $15,000
- Outstanding Debt on Credit Card: $330,000
- Total Budget Cuts So Far: $2,000
We all know how this story ends... "It's going to be a very different cocktail under each administration," Hedgeye CEO Keith McCullough said during his interview with David Lin, host of The David Lin Report. "Our job isn't to say what should or shouldn't be but to deal with what it is." In this episode, David and Keith dive deep into a number of important market topics including Keith's outlook for Gold, Bonds, economic growth, and his favorite asset allocations to beat rising inflation into year end. "We've not had a call that the U.S. is going into recession," Keith continues in that interview. "We see the U.S. economy going from 3% to 2% to 1% and inflation accelerating." "Again, I have no idea who's going to win the election and how market prices will react to that but given our stagflationary outlook and the uncertainty about the election from there anything is possible," Keith explains. The one thing both parties agree on is spending more money and ramping U.S. debt. The U.S. deficit hits $1.8 trillion in 2024. That's up more than 8% from the previous year and the third highest on record – only exceeded during 2020-2021 COVID-19 Pandemic spending. Here's the shocking part… Politicians are actually profiting from this insane amount of spending. A New York Times investigation found that at least 97 members of Congress traded stocks and assets intersecting with their official roles. Nancy Pelosi made 20 times her salary in just one trade. According to Unusual Whales, Pelosi has nearly $4 million in gains from the Nvidia call options her husband, Paul Pelosi, purchased in November. Does that make you angry? Because it should. The problem isn't isolated to Congress either. The Federal Reserve faced its own scandal when top officials like Robert Kaplan, Eric Rosengren, and Richard Clarida traded millions of dollars in personal portfolios during the pandemic. Some resigned, but only after public outcry forced their hand. So yes, U.S. politicians are completely screwing up the American economy. While we can't fix political conflicts of interest, there's a way to protect your portfolio. We invite you to join Hedgeye CEO Keith McCullough for a critical post-election investing webcast on Thursday, November 7, at 11:00am ET. With the Presidential election "behind us," investors are bracing for potential volatility, confusion, and heightened anxiety. In this free webcast, Keith will share insights on how to safeguard your investments and navigate the market's twists and turns during these uncertain times. Just remember, the debt clock is ticking. In 30 seconds, approximately $1.43 million was added to the U.S. government debt. So if you want to protect and grow your portfolio this free webcast is a must-watch in today's chaotic environment. And finally, if you want to make money, no matter what the markets, the economy and politicians are doing, we have good news for you... Our BEST DEALS all year are live right now. You don't have to sit idly by waiting for inflation to ravage your hard-earned wealth. Get our high-octane investing research today. There's something for everyone with our BEST DEALS ALL YEAR. Take a look or book a demo with one of our Customer Service reps today. Have a great weekend! Hedgeye
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