How much longer will banks lie to us?

Wall Street Unplugged - What's Really Moving These Markets

Frank Curzio

Business, News, Commodities, Debt, Investing, Macroeconomics, Gold, Personal, Uranium, Oil, Economics, Business News, Geopolitics, Industry, Crypto, Stocks, Curzio, Trading, Finance, Research, Investments, Tokens, Talk, Crisis

4.5 • 1.1K Ratings

🗓️ 3 May 2023

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Prepare yourself… I have a couple of rants to get off my chest today. I’m recording this podcast before today’s Fed meeting, where central bankers are expected to raise interest rates by 25 basis points, then hint at pausing rate hikes. I cut through the B.S. and explain why an end to rate hikes won’t save us now. The biggest story in the market right now is the banking crisis. I share some quotes that show how bank CEOs have been lying through their teeth about the state of the banking sector—including JPMorgan’s Jamie Dimon. The whole thing reminds me of a scene from The Naked Gun. I break down the sweetheart deal JPMorgan got by taking over First Republic… and pose an important question for all investors to consider about regional banks. While the Fed refuses to admit it, it’s bailing the sector out. I rant about why the Fed’s actions will lead to a lot more pain… and how banks don’t actually give a s*** about their clients. Make sure to tune into WSU Premium tomorrow—Daniel and I will deep-dive into the banking sector… the state of the consumer… earnings estimates… and all the market risks we’re currently facing. (Subscribe to WSU Premium at WSUoffer.com) I end the show by sharing the best way to protect yourself—and profit—from this dangerous market scenario. A pause in the Fed’s rate hikes won’t save us [1:40] These bank CEOs lied through their teeth [3:30] Jamie Dimon’s comments remind me of The Naked Gun [9:50] The FDIC’s bailouts encourage bad behavior [18:30] Don’t miss tomorrow’s episode of WSU Premium (Subscribe at WSUoffer.com) [20:35] How to profit in this market environment [28:30] Enjoyed this episode? Get Wall Street Unplugged delivered FREE to your inbox each week: www.curzioresearch.com/wall-street-unplugged/ Wall Street Unplugged podcast is available at: --iTunes: itunes.apple.com/us/podcast/wall-street-unplugged-frank/ --Stitcher: www.stitcher.com/podcast/curzio-research/wall-street-unplugged-2 --Website: www.curzioresearch.com/category/podcast/wall-street-unplugged/ Twitter: twitter.com/frankcurzio Facebook:. www.facebook.com/CurzioResearch/ Linkedin: www.linkedin.com/in/frank-curzio-690561a7/ Website: www.curzioresearch.com

Transcript

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0:00.0	Wall Street Unplug looks beyond the regular headlines, heard on mainstream financial media
0:07.0	to bring you unscripted interviews and breaking commentary direct from Wall Street, right
0:11.6	to you on mainstream.
0:12.6	How's it going out there, it's May 3rd?
0:18.4	I'm not trying to encourage you as to Wall Street Unplug, so we'll break the headlines
0:22.7	and...
0:23.8	Duh!
0:29.3	Tell you what's really moving these markets.
0:33.5	Just the heads up.
0:35.9	Expect a few rants today.
0:39.0	They go off the rails a little bit.
0:42.1	But today is Fed Day.
0:44.8	And I'm taping this just ahead of the Fed meeting.
0:47.0	It's a fair spectacle raised by 25 basis points.
0:49.0	And then pause, right? That's a consensus.
0:51.2	100%, 100%.
0:53.9	That's the chances that it's going to be 25.
0:55.6	You'll know by the time you listen to this.
1:00.2	Then we'll have tomorrow.
1:01.1	Tomorrow is always a fun day where every economist in America pretends that they're the
1:04.6	Fed commission and breaks that they know more than Jay Powell.
1:07.4	Breaks it down.
	...

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