The DC Today - Tuesday, May 23, 2023
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 23 May 2023
⏱️ 11 minutes
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Summary
Today's Post - https://bahnsen.co/41Xc7Rq
The drama in Washington is supposed to be all the rage and I am torn because I do know it is the primary mover in minute-by-minute market fluctuations, and I also know it may be what readers most want to know about (adding to the burden to write about it here, which is the purpose of DC Today), and yet the whole thing annoys me so much I wish I had the option of a protest abstention. But I don’t.
As of press time today the basic update is that talks are dragging on and this is somehow news. Both sides continue to say “default is off the table.” The press is acting more recklessly than I expected them to, and I expected full-blown beclowning. It is really hard for them to perform worse than I thought, and they are.
Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets. |
| 0:14.8 | Well, hello and welcome to the Tuesday edition of the DC Today coming at you again from beautiful and a little warm and |
| 0:24.1 | muggy Nashville, Tennessee. Markets dropped a little today. Actually not all that bad in the |
| 0:30.0 | Dow is a little worse in some of the S&P NASDAQ areas, but nothing all that severe. It's only debt ceiling stuff and more or less nothing really to report, actually. |
| 0:42.8 | The drama, you know, with the negotiations, all the rage, there wasn't any breakthroughs |
| 0:51.3 | announced an imminent deal. |
| 0:53.0 | There wasn't any, you know, falling apart of the |
| 0:55.5 | deal. And I'm telling you, it's going to kill me if I have to just keep saying this stupid nonsense |
| 1:01.5 | every day. But I don't really want to ignore it because I think some of you want to know. And |
| 1:06.7 | obviously it's what the media is talking about. when the news is they're talking and oh there's |
| 1:13.2 | no deal and what if there isn't and and then you know oh looks like they're making progress but |
| 1:19.1 | they're still not done and so kind of making a story out of where there isn't a story it really |
| 1:23.9 | bothers me and it isn't the way I like to communicate with my clients and yet |
| 1:29.8 | there isn't a whole lot going on in financial markets at the moment and that's that's sort of what |
| 1:34.6 | the volatility is around and people trying to front run and guess and all that stuff and that's fine |
| 1:40.3 | that's what traders do but it isn't really what we do and yet I have to talk about the story behind it anyways. So forgive me if I'm cranky about that. But it isn't really the |
| 1:48.7 | fact that I have to go talk about this stuff. It's that the press is be clowning themselves, |
| 1:55.0 | and it bothers me. So I'm sharing a little from my heart with you, but I'm actually not because I'm |
| 2:02.9 | holding back substantially of what I really want to say. I put a little chart in the DC |
| 2:09.4 | today today that I think just captures the shiny object moment of the last couple of years |
| 2:16.4 | beautifully in visual form. |
| 2:20.0 | And there's a company called Zoom that was in the news yesterday, having released their |
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