MARKET BRIEFING
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But so far, this market continues to be one of the most resilient in history. Ĩ The S&P 500 has posted 26 new all-time highs so far this year. Ĩ The index is up nearly 30% since October, which is pretty astounding. Ĩ As a result, the S&P 500 has added over $10 TRILLION in market cap in the past roughly eight months or so. Meanwhile, our elected representatives in Congress continue to accelerate spending... The Congressional Budget Office says that our elected leader’s deficit spending for the month of May was $348 billion – up $108 billion from last year.
Americans at home don’t seem to feel that way. 55% of Americans believe the economy is shrinking. And today, 76% of people in this country are living paycheck to paycheck. PORTER: That’s disastrous. AMY: So, are things going as well as our financial newspapers are telling us? Or does the future hold something grimmer? PORTER: Well first of all, Amy, all those facts are really important and you’re right about all of them. But the thing that you’ve got to remember is that we’re actually looking at two very different Americas today... We have political insiders, like Nancy Pelosi who are doing great.
Total government debt in our country has reached a staggering $35 trillion. At this pace, we’re on track to spend $3 trillion MORE every year that we don’t have. For the first time in history, we’re on track to spend more on the interest on our debt than we
spend on Defense and Medicare this year. That’s just paying for the interest on the debt, not even paying our debt down! PORTER: Yeah, that’s scary. AMY: And while headlines report that the economy is doing better than ever...
One estimate I saw recently says she made over $4 million this year on Nvidia. And not the stock. She’s buying the call options. It’s just gambling. But not for her, of course. She knows she’s going to win.
Her account this year is up nearly 30%! That’s just in the first 6 months of this year. That’s double the 16% of the S&P so far this year. Think about that. Warren Buffett is famous for achieving 20%-plus returns throughout his career. And Pelosi is, of
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