Four Horsemen of Incompetence- Two from Arizona
President Biden’s approval rating has hung in there at 53% but his support is under attack from four sources- money printing by the Fed; China’s financial woes; and two more highlighted by Arizona- election fraud and immigration
IMMIGRATION: Arizona has declared a state of emergency at the border. The gtovernor says state will deploy 250 National Guard troops, and blames Biden for surge in illegal crossings (crossings in March were over 170K compared to 34K in March 2020.)
ELECTION FRAUD: The Arizona Senate has begun an intensive full forensic audit of the November 3, 2020 election (for the Presidency and the Senate) in its largest county- Maricopa. Results will be made public by mid May. The probable discovery of massive fraud to favor Biden would be difficult for the pro-Biden/Democrats media to cover up and could justify both similar audits in other states and an appeal to the US Supreme Court to intervene (provide remedy) which IMHO that Court would find difficult to deny/ignore.
FED PRINTS MONEY BIG TIME: In the year ending in February 2021, M-1 rose by- wait for it- 357.1%- to $18.4 Trillion as inflation begins to surge. This weakens the Fed ability to continue to suppress interest rates.
CHINESE COMMUNIST BANK’S BONDS COLLAPSE: Huargong Asset Management Bonds plunge over 15% since April 7th. Huarong is 61% owned by the government.
I believe these four crisis- IN COMBINATION- could break the illusion that the Biden Administration is competent. While being short the stock market or being long silver are ways to play the uncertainty these four horseman stimulate, I continue to favor my short of the June 2022 Eurodollar future @ 99.73. (I may even add to this position)