McCarthy’s ousting will draw out the selloff

Wall Street Unplugged - What's Really Moving These Markets

Frank Curzio

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

4.6 • 1.1K Ratings

🗓️ 4 October 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

I just returned from a business trip to Miami… and start today’s show with a rant about how consumers are getting “fee’d” to death. Stocks are selling off as investors digest higher-for-longer interest rates and lingering inflation. And I see way more downside ahead… I share some data on the impact of student loan payments, which have resumed after a three-year pause. I also highlight the biggest headwind for the economy (hint: it’s a rising cost that none of us can escape). I’ve been pounding the table on how this is one of the most dangerous markets I’ve ever seen… Despite the fastest pace of rate hikes in history, some of the riskiest stocks have been surging. But this irrational bull run is coming to an end. I explain why the Fed won’t be able to pull off a soft landing… and why we should brace for more pain throughout the housing sector, community banks, and consumer spending. Shockwaves are rippling across the political aisle as House Speaker Kevin McCarthy (R) was ousted this week. I explain how this changes my thesis on ridiculous government spending… and why it will lead to a long, drawn-out selloff in stocks. But that doesn't mean you should sell everything and move to cash. Tomorrow on WSU Premium, I’ll share exactly how to position yourself for this market—including a new Dollar Stock Club pick… from a sector I’ve never recommended before in my entire career. Access the premium podcast at WSUOffer.com. In this episode We’re getting “fee’d” to death [0:30] What's behind the market selloff? [7:30] Consumers can’t escape this rising cost [10:45] Why this irrational bull run is ending [20:35] Why McCarthy’s ousting will trigger more declines [28:25] Don’t miss tomorrow’s WSU Premium [40:20] 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: Access the WSU Premium at WSUOffer.com.

Transcript

Click on a timestamp to play from that location

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	Let's go out there and talk to our fourth.
0:19.4	I'm Frank Curse, you'll host the Wall Street Unplug Pog, stripping to Helen's, and uh...
0:28.3	I tell you what's really moving these markets.
0:33.6	Well, I think Daniel Creech would cover me last week, so Miami had a business trip.
0:37.4	It's been time in the management team for a company that have an occursion of venture
0:42.0	opportunities portfolio.
0:43.2	A lot of great things going on, believe it or not, in this crazy market.
0:46.8	I want to see for myself, but I am traveling a lot this month, all on business.
0:55.5	This is a time when you want to work the most, because this is when you find the best
1:00.6	ideas.
1:02.2	Not everything is going to go higher, a lot of things are going lower, you have to look
1:05.4	at management teams, they matter, which have experience in higher interest rate environments,
1:09.5	which we haven't seen in 12 years.
1:11.3	I mean, you have a company that's 10 years old, you're like, hey, this company's mature,
1:14.8	they're great.
1:15.8	It's awesome.
1:18.5	Creech would team smart, but they never lived an environment like we have today.
1:26.8	But going to Miami is interesting.
1:28.8	One of the most booming economies in cities, I would say, in America, and just the building
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Frank Curzio, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Frank Curzio and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.