Here is what Socialism looks like. Under the pretext of helping people the FEDs start printing money and give it away for free.
I also want to have my free money and then I could stop working. Why should anyone work when we just can print money?
Those people will get up to $3,000 per child, or $3,600 for each child under the age of 6, in 2021, subject to income restrictions. The benefit will reach 39 million households, many automatically and by direct deposit every month, starting on July 15.
Their virtue signaling is: Help the poor, lift children out of poverty.
YEAH! Someone has to pay for it. Either they take it from the national Credit Card like Trudeau is doing it, Lets pay for it later, In 5-10 years when the debt ratio reaches critical levels and they have to increase taxes to pay for the spending binge.
Or....
The additional money supply will fuel inflation. The Greenback will lose value and ALL things will become more expensive. Consumer goods and basic material which already is in short supply.
We will keep an eye on next months inflation /CPI numbers.
With stocks trading sideways and showing DOJIs there is uncertainty in the market. The crunch in the housing supply chain is delaying housing starts and driving prices up. Inflation hit 4.2% in April after 2.6% in March. Too high. With higher minimum wages and free money to stay home labor shortage will continue. Having labor shortage on one side and higher unemployment numbers on the other side shows the dilemma the Biden Administration is in. Both phenomena should not appear at the same time but here they are. It is an artificial crisis fueled by incompetence or leftwing ideology, OR..... BOTH.
We will read the FMOC Meeting minutes and press releases. And the the market might move one way or the other. If they mention Inflation concerns and hint for Interest rate increase the S&P will tank. Gold and Silver yields will increase. At least I hope so. Thats what I see, but who am I?
The Spyders a copy basket of the S&P 500 the biggest market in the world.
ZOOMING IN
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