Investor's Edge with Gary Kaltbaum - Bad News...Big Reversal!

Episode Date: July 14, 2022

More Info At: http://garykaltbaum.comMore

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If you're 45 or older, and at average risk, ask your doctor about the Colagard test, available by prescription only. Learn more or request a prescription at colagard.com slash podcast. Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Cultbaum.

And welcome once again to Investors Edge. I'm Gary Colbom, your host day. Thanks of being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It is July 14, 2012. And you know, we discussed with you the markets, the economy, jobs, unemployment, inflation, taxes, deficit spending them, our opponents. You know who our opponents are, right?

All the politicians in both sides of the aisle. 30 trillion bucks tells you that. You don't need to go any further than that whatsoever, and I'm amazed people have taken any sides. Oh, I love the Republicans. Oh, I love the Democrats. I love Trump. I hate Trump.

They're all laughing at you in the back rooms. They're screaming at each other outside, and in the back rooms, they're laughing at you. $30 trillion of spending above what we sent to them tells you they're a bunch of corrupt criminals. But that's for another day. why am I bringing this up today? Something's happening right now that I bet you don't know about, at least most of you,

and we're going to discuss it. And it all goes back to Ground Zero, Ben Bernanke. And you're going to wonder why I bring this up something from 2008. It's because he lit the fuse. And ladies and gentlemen, if I said to you, well, I know you're broke, but don't worry. I'm just going to give you credit card after credit card, after credit card, after credit card, after credit card to pay for it. And of course, I'm simplifying things.

And don't worry. We'll just keep doing it for years and years and years. and when the whole freaking thing blows up, as it always does, and we'll be gone. In the meantime, they're going to think we're heroes. We're going to get a quarter million dollars for speeches. We'll get front covers of magazines, the saviors of the financial system. Yet all we are doing is destroying the future. How do you destroy the future?

More debt. and more debt and more debt. So let me just start out of the get-go, and then we're going to talk to you about a market. The Dow was down 142. We're going to tell you it was an excellent day. Kind of sort of. I don't know if you know this,

but Europe is in turmoil. I don't know if you know this, but the euro was a little bit lower than the dollar today. I don't know if you know this, but many years ago we were complaining about Ben Bernanke but another man his name was Mario Draghi

he was running the central bank of Europe and guess what he did along with Ben Bernanke well he set upon the future crap loads of printing of money in order to distort

everything but in the meantime all it did would have debt skyrocket. Well, Mario Draghi was considered to be a hero. They called him Super Mario. In fact, they made him prime minister of Italy. So a man who all he did was create a credit. card with a higher credit limit to pay for the first one, wash, rinse, and repeat was seen as a hero along with Ben Bernanke, who was the central banker at the time. Well, let me read something to

you. Ten years after his whatever it takes pledge to save the euro, Mario Draghi is once again in the middle of a debt crisis. What do they say about a leopard never changing their stripes? Investors are now, questioning whether Eurozone countries can roll over their debts, which have ballooned and are now becoming more expensive to refinance because interest rates are going higher to accommodate for all the debt. In other words, oops, a vicious cycle? The epicenter of the crisis is now Italy. The prime minister is Mario Draghi.

Think about that. Now Draghi looks like he has to step down as prime minister. Italy's 10-year yield has now risen to 3.474% on its own to accommodate for all this debt. Borrowing costs have risen like crazy. And of course, Italy has 2.5 trillion euro debt. A debt pile. Debt.

That's all they're good at. I want you to remember the future. Ben Bernanke, let me back. until Ben Bernanke started his great experiment of printing money to play God with markets. Listen carefully. Our whole history of the United States, more than 200 years, our total federal debt was 10 trillion. In 13 more years, it's gone from 10 to 30 trillion. 200 some odd years for 10 trillion, 13 years for another 20 trillion.

Oh, let's back out a couple of trillion for COVID. You got my point? These are not heroes. They're debt-laden psychopaths glorified by a public and it's greed because at the time, in real time, he saved the day. But that's not saving the day. It's creating what we told you was an eventuality. How do we know this?

Because we have studied all of history. And during the greedy times, everybody forgets history. Wall Street didn't complain why. Oh, crap. It lifted the markets up for now. We can make billions off of this. Yeah, we were crooks and we should go to jail and we should have been indicted, but we got away with it because our best friends of the politicians. It's incestuous.

The people in D.C. go to Wall Street and people in Wall Street go to D.C. And they're laughing their asses off at us. Remember, it was our $800 billion, ours that saved their asses. And Ben Bernanke in concert set this. set the fuse. And we're 30 trillion of debt. And you know what they're telling us? Don't worry.

If it didn't burn down the house at 20, why would it burn down the house at 30? That's what they're telling us. I want you to think about this. Our government was supposed to only spend the money that they got from us. Our tax dollars, they are now $30 trillion. Behind. But they're not behind. We're behind. Your kids are behind. Their kids are behind. And you know what they're all doing? Retiring. With their big pensions and their jobs on Wall Street. And now the same guy, Draghi, comes full circle. We warned you about him also years ago. Full circle. Debt showing up again. What are they going to do next? So I just want to let you know that's out there.

We'll see how it plays out over time. We'll probably be gone when the real big one comes. They'll be gone when it comes. Do you know Jay Powell's getting no blame? Do you know why he's getting no blame? Because the left has to blame the right and the right has to blame the left and Jay Powell's kind of on the side. We can't blame Jay Powell and it's got to be Joe Biden and the administration. Up next, we'll put a bow tie on it.

Much more to discuss today. I got a lot. I'm Gary. This is the one only Investors Edge. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge. We're not just handsome radio people. We manage investors' money for a living, specializing in fee-based discretionary money management. No big commissions, just a fee on the assets that's managed.

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Learn more at APU. APUS.edu. On eBay, every find has a story. Like if you're looking for a vintage band tea. Not just a tea. The band tea. From the last show your favorite band ever played. You wore it everywhere. Then your BFF started glaring it,

which was cute until they unfriended you and took it with them, which was not so cute. Anyway, now you're on eBay. And there it is. Same Tee from the same tour. Still living in your memory, rent-free forever. See? The things you love have a way of finding their way back to you. But eBay isn't just forgetting whatever your XBFF stole back. It's also for that rare championship foul ball you caught, then heroically gave to the kid next to you. And where else are you going to find your first car? The one you wish you never sold, but now, you finally get the chance to take back home for good this time.

Shop eBay for millions of fines, each with a story. eBay, things people love. It's time to switch on the integrator units and get the brain cells working. You're listening to. Hey, this promises to be fun. Investors Edge. The last bastion of quality programming. With Gary Coltbaum.

It doesn't get better than this. So, here's how it worked out. Bernanke's getting quarter million dollars for speeches Janet Yellen who worked with him and did all this got to be the next central head of the central bank and now she's the Treasury Secretary trying to foist upon us a global tax

these people are sick in the mind and they're running this freaking country Jay Powell set upon this inflation on us and he gets no blame why he's not elected So it's all on Joe Biden. It's all his fault. No, it isn't.

Jay Powell, 75%. Joe Biden 15, Russia 10. That's the story. And every day, listen to me carefully. Because when I say this on TV, it doesn't get through. Every day, today. today and going forward in the future every day and it gets bigger every day. I think it's now about $1.6 billion goes towards interest.

I want you to think about this. You know how government is supposed to take in money and do things good with it? 1.6 billion a freaking day is going towards interest. And by the way, it's going to get worse as interest rates go higher. Think about that. A day, $1.6 billion. Think about your community that you're in right now. What would just $1.6 billion do for your community today?

Just your community. And think about for the next 365 days the whole year, $1.6 billion every day going towards interest, not towards anything important. That's all your politicians that you're watching on TV. The ones that you love. If you're on the right, you love the ones on the right. If you're on the left, you love the ones on the left.

Oh, if you're on the left, you hate Trump. If you're on the right, you hate Biden. They're laughing their asses off at us. And the media's covering it. They're covering. Why isn't the media crapping in their pants all over this? Why? Oh, then they'll lose their access.

And I had to bring this up again today because the druggie thing showed up. and none of them realize over there. He's a nightmare. And just because he created massive debt and printing of money, they gave him the Prime Minister of Italy. The guy shouldn't be running a lemonade stand. And now the debt bubbles up. What a surprise.

Had no idea that would happen. And guess what the problem is now? Europe can't announce more printing of money because they've created this massive inflation also along with J-Pal with all the printing of the money. Oh, we can't keep doing that because then we'll have 25% inflation. And then we're going to be Venezuela and all these other crap holes. In other words, they box themselves in like mixed nuts. Mix nuts.

And who pays the piper? We do. The people in Europe do. And you know what ends up with these people? they go away with their millions and millions and millions and not to be seen again. How many politicians are retiring this year? 50? 50, I think. Why do you think they're doing that?

They're getting the hell out of Dodge. What do you think they don't know what they've done? They're stupid, but they're not that stupid. Well, maybe they are. So we're just letting you know the druggie thing now bubbles up. We don't know where it's going to go. We don't know what they're going to do to try and fix it. but debt and debt is debt and eventually it has to get paid back somehow,

or the markets are going to force it. And $1.6 billion goes to our interest every day. By the way, $1.5, excuse me, $3 billion added to our debt every day. When you hear Joe Biden say he has cut the debt, he is a lion's sack. All that they did was, all that debt they had to increase because of COVID has now been brought down. And to tell us that's lowering the deficit in debt when it was a one-time big thing, thing, he's making Trump into a truth teller. So all you people on the left that called Trump a liar, how about calling Biden a liar? All you people on the right that called Biden a lie? Why don't you

start calling Trump a liar because they're all damn good at it? And again, we're bringing this up because Draghi. And we'll see how it plays out. All right, so let me cross that off. Next thing. When you have a chance, and this just interests me, I've been saying all along I thought he murdered his wife and his son. Go read this story about Alex Murdaugh, M-U-R-D-A-U-G-H. Let him rot in hell. Go read up about it. Serial murder of his family, it looks like, amongst others. Just go read the story, and they charged it. They indicted him with the murder of his wife and his kid. By the way, with a shotgun and a big rifle. Nice guy. We'll see what happens. Next, I have to bring this up. As you know, we work very closely my family with the boys and girls clubs of central Florida.

One of my idols in life is a gentleman by the name of Gary Kane that changed the complexion of the whole Central Florida area when he became the head honcho of the boys and girls clubs of Central Florida. I can't begin to tell you what this man, single-handedly, is done from the community and he takes no credit whatsoever. He's built a magnificent team, a magnificent board around him, and has really changed the complexion and changed the lives of many kids. Have you read this story in Philadelphia where a bunch of teens beat the hell out of a 74-year-old man?

He's dead. They're being charged with murder now. And interesting, they're being charged as adults. And now they're showing pictures of the teens. I'm looking at a 14-year-old girl, a picture of her. They show pictures and video of her walking away after she beat the hell out of the 74-year-old man, laughing her ass off. and all these other kids. A young boy, 14, is also indicted,

and there's going to be a few others as accessories. And all I'm thinking to myself is, they weren't born like this. There's another video of like an eight-year-old, six, seven-year-old kid, police showed up in the neighborhood and starts F-bombing the policeman, and starts hitting the, really hitting them.

And I'm thinking to myself, these kids were not born this way. We really have a job to do. All of us in our communities. I'm looking at this 14-year-old girl. She was not born this way to be a murderer. She's now charged with murder. And it's on video.

So I don't know what they do with 14-year-olds. I know I know they don't put them in a hard in jail, but something's going to give. Up next, we will do the markets. I'm Gary. This is the one only investor's edge. Enjoying a healthy dinner that tastes great means eating out at a pricey restaurant, right? Wrong. Healthy Choice Simply steamers are delicious and healthy.

The tray-and-tray steam technology delivers crisp veggies and tender protein and tasty selections, like Healthy Choice Simply Steamers grilled chicken and broccoli alfredo. It's a satisfying meal with 28 grams of protein, and nothing. artificial. Healthy choice simply steamers. What having it all tastes like. Success starts with your drive, and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop. You bring the fire, APU will fuel the journey.

Learn more at APU. APU. APUS.edu. On eBay, every find has a story. Like if you're looking for a vintage band tea. Not just a tea. The band tea. From the last show your favorite band ever played. You wore it everywhere. Then your BFF started glaring it.

Which is cute until they unfriended you and took it with them. Which was not so cute. Anyway, now you're on eBay. And there it is. Same tea from the third. same tour. Still living in your memory, rent-free, forever. See? The things you love have a way of finding their way back to you. But eBay isn't just forgetting whatever your ex-BFF stole back. It's also for that rare championship foul ball you caught, then heroically gave to the kid next to you.

And where else are you going to find your first car? The one you wish you'd never sold, but now, you finally get the chance to take back home for good this time. Shop eBay for millions of fines. each with a story. eBay, things people love. We're listening to. America is talking. Investors Edge. He's got to be pleased with that.

The crowd is just on his feet here. He's a Cinderella boy. With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to. So anyway, I just had to bring that up also because it is just so disheartening. And there's a lot of this going on. It was, again, there's a video of,

and they darkened the video as to not show this little kid's face. I think he's six. He's on a sidewalk in his underwear, no shirt on, and the police were there for some reason, and the kid starts trying to beat the crap out of the police officer, and F-bombing him and saying the most vile, vicious things. I think it's like a six-year-old. And all I keep thinking to myself,

they weren't born this way, which means what is going on? and we always talk about family and fatherhood and I know we're being a little preachy here but that's okay we can do this every now and then man we got to really get into our communities going forward because I'm reading too much of this 14 year olds

and laughing their butts off after they murdered a man and they're high-fiving each other's and they're dancing they took one of these traffic cones which by the way are hard and 74 year old man a beloved man a grandfather for no reason and you really want to be pissed off at these kids what did you and you think into yourself 14 14 14 Anyway

Whatever you can do in your community for families You know these boys and girls clubs are fantastic There are other organizations also Man oh man Sorry to harsh your buzz But you know every day you sit here and I go to work And you just read up And it's not wine and roses 24-7

Anyway Okay So we're going to read to you the market wrap and we're going to tell you, well, it was actually pretty decent and then we're going to say, no, it's not. And we'll explain. So the market wrap is brought to you by Investment-Models.com. That's Jim Morabat, one of the great market timers. No gray areas with the man you're either in or out of the market with his proprietary indicators. Go check it out, Investment-mottles.com.

Dow was down 142. but I think we're down like 500. So that's actually good. S&P down 11. The NASDAQ was up three. It was down over 200. So that's good, but it was only up three. NASDAQ 100 was up 39.

The SOX, the all-important semiconductor index, up 49 today. And I did a little webcast at 130 when it just turned flat. 25, 29, 99. The socks is only down 40 something at its worst today. So it was really outperforming all day. So we're just letting you know when the market's down big and finishes like this, it's usually near-term good news. By the way, the Dow hit 3143.

So it was down, let's see, another 497, it was down 640 and finished down 140. My bad, it was worse than we thought. So micromanaging, that's probably good news. We'll see what tomorrow brings. And the semiconductors would a better day? That's good news. We'll take it.

Apple, $16 billion every dollar it moves up or down? Unbelievable. Size of a large company. It was up three today, $48 billion market cap, and holding above the all-important 50-day moving average. A Qualcomm, a semiconductor really holds above the 50-day move-in average state. Change a complexion for two bigger names. Maybe.

Why do we say maybe? Earnings are coming out in the next two weeks. But we're talking from real-time right now. But then we did a webcast at 130 because we're traveling tonight, so we did it early. And all I have to tell you, in. bare markets. And may I say, even with the reversal today, they finish it down today, just a little off the lows. Travel-related stocks, that's Air Cruise Hotel.

The transports, which is like truckers and rails and logistics and the like. Just about everything economically sensitive. And we mean by that, industrials, machinery, the deer, and the deer. the Caterpillar. Autos. Auto dealers. Defense stocks, even with a war going on, defense stocks are in their own bear market. Hospitals, brutal bear market. Growth medical stocks bear market, golden silver bear market. The whole commodity complex in a bear market, the things that are holding a best are coal, but even them having a little bit of trouble. The shippers, bear market, agriculture, bear market, they just topped out badly, the fertilizers, retail of all stripes, bare markets, materials, the metals in mining, housing stocks, most housing related, if not all.

And we're talking about Home Depot, Lowe's, Masco, Whirlpool, Sherwin-Williams. The software stocks have been bombed out, and they had a terrible week this week so far. Remember service now this week? Insurance stocks blown up even worse today. Travelers in the Dow croaked today. I didn't even see any news. They report in the next week. Banks, big banks, small banks, S&Ls, regional banks, bare markets, investment banks, brokerages, bare markets.

With the semiconductors, strong today. bare market. Just let you know. The Chinese stocks that were trying so hard breaks down a little bit more today. Those have been the areas where we have said to you, pretty much the only thing that looked like had a pretty good bottoming process going on,

looks like that failed. So even with this reversal, remember, that's today. We're big picture, guys. We're main trend guys. And probably today we saw what we would call defense in the market, and maybe we'll get some upside testing from here. But I got to tell you, when I scan this webcast, gross. And by the way, 922 new yearly lows today without the indices at new yearly lows.

So regardless, that definitive, may I say definitive. money flows into semiconductors today and some of the big cap tech stuff, which we don't mind. It's market, we'll see. JP Morgan came out with numbers, and even though it was at New Yearly lows, it gapped down today on their numbers and their lowering of numbers and their guidance and they're halting buybacks right now, Morgan Stanley's numbers were pretty bad. was down on the day. That one almost reversed all the way, but remains in a bare market. So again, some better action today. We'll take anything. But again, the main big picture, yuck, next couple of days are going to be interesting. We get this a little reversal today. It's going to need to stick pretty quickly. And by the way, with this.

Reversal Advanced Declines was still 13 up, 29 down on the NASDAQ, 10 up 31 down on the New York. Though, again, most everything off the lows. Anything else stick out? Costco was up 19 today on an upgrade because it's the greatest company of all time. At least that's what they tell me, or one of them. So I wish I can go further than say, hey, just so you know, good reversal today. Even with the Dow down 142, we consider that a reversal. Down 600 at one time?

Yeah, that's good enough. So stay tuned. We'd love to get bullish. Bullish is better than bearish. Up next on the edge. More on the markets. This is the one only investor's edge. Enjoying a healthy dinner that tastes great means eating out at a pricey restaurant, right?

Wrong. Healthy Choice Simply steamers are delicious. and healthy. The tray-and-tray steam technology delivers crisp veggies and tender protein and tasty selections, like Healthy Choice Simply Steamers' grilled chicken and broccoli Alfredo. It's a satisfying meal with 28 grams of protein and nothing artificial. Healthy Choice Simply Steamers. What having it all tastes like. Success starts with your drive, and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop.

You bring the fire, APU will fuel the journey. Learn more at APU.APUS.edu. On eBay, every find has a story. Like if you're looking for a vintage band tea. Not just a T, the band T from the last show your favorite band ever played. You wore it everywhere. Then, your BFF started glaring it, which was cute until they unfriended you and took it with them, which was not so cute.

Anyway, now you're on eBay. And there it is, same tea from the same tour. Still living in your memory, rent-free forever. See? The things you love have a way of finding their way back to you. But eBay isn't just forgetting whatever your XBFF stole back. It's also for that rare championship foul ball you caught, then heroically gave to the kid next to you.

And where else are you going to find your first car? The one you wish you'd never sold, but now, you finally get the chance to take back home. For good this time. Shop eBay for millions of fines, each with a story. eBay, things people love. You're listening to What are we waiting for?

waiting for one two ready go action in the guest

with Gary Culpa um tomorrow morning is um by the way

I did forget to mention Taiwan semiconductor reported earnings and that was up two bucks today maybe that did it

today for semas I don't know tomorrow morning is Black Rock Bank of New York Melon city group PNC Bank progressive insurance that just broke down today with the rest of the group getting worse state street bank US Bank Corps United Health in the Dow and Wells Fargo so tomorrow some more reactions we'll see what comes of it but man oh man did they clobber everything insurance today wow holy macro. So a couple of big caps definitely acting better going into earnings. Apple and Qualcomm,

we'll see if others show up. I can tell you they haven't as of yet. Mid caps were down, by the way the midcaps today were down the equivalent of 300 Dow points. So it's not end or be all. It's not everything. And there's still a lot of work. Goldman Sachs is down eight and a half today in sympathy with the other financials. I will tell you another inflation report came out today. It was terrible, but we repeat. Commodity inflation has peaked. P-E-A-K. It will get better.

What that means for markets, we don't know. Cotton today, I don't know what happened today, crushed again. There is something called the Cotton Sub Index. You want to know what you're up? It's gone from 93 to 56 since mid-May. Is there any wonder why we say to you? We think this is peaked. And everybody's still talking inflation because the numbers keep coming out, but leave no doubt. All the commodities are down.

Now, maybe there's some other things at work here. We hear rent, but I don't think rent's going to stay up if the economy worsens. Use cars, that's coming down. And all the food commodities are coming down. Some way down. I can tell you coffee hit a 10 month low today

nine month the coffee subindex Starbucks will be happy about that they've even raised prices on me darn it again what that means we're not so sure just the two words all clear

do not come to mind the verbiage a lot of jello moving on the plate does and man there's just a lot of weakness. A lot of weakness. If anything changes, we'll let you know. If anything gets better, we'll let you know. If anything worsens, we'll let you know. We think umbrellas should still be out. But it's always good to see when we can get some tech names doing better. Always. By the way, you know, I wind and complain about this Rivian when it came public and yelled that

you please stay away. They're planning layoffs. 5% of staff at a minimum. Had no idea that would happen. Remember what we told you. You know how tough it is to become a car manufacturer? Can you think of any car manufacturers in the last hundred years that start in business and stayed in business? and all of a sudden all these companies are going to be electric vehicle producers.

Again, a bunch of them were criminals, con artists lying. A couple of them were already indicted. There'll be more. A bunch will get away. And most of the stocks will be a zero. Most, not all. Stunning the greed of Wall Street to continue to bring these things out, knowing. And trust me, when I say this and I take no joy,

Wall Street knows they're not going to make it, but a fee is a fee. What do I care? And due to the fact they know you'll buy it in crazy times, what do they care? I got my fee. Remember Goldman Sachs what they did back in 2008? The created a tranche of mortgage-backed securities, immediately sold them and shorted them for their own account. If I did that, I'm in jail. They did that. You can go Google it and read it. And again, I take no joy and tell me these facts, but they're facts. So stay tuned. The good news today, defense. And you know where the defense came from?

Near the lows. And you know how long the lows have been holding now? Basically since May 12th, a couple of months now. You go look at the NASDAQ, basically been holding since May 12th. The S&P 500, different because you really undercut the May 20th low, different than the NASDAQ. So different, because the recent low was June 17th. And the Dow, same thing. But you can see as they got nearer to the lows defense today.

Now what we're going to be able to do is gauge if they can rally them up a little bit here. The weaker and more anemic, any bounce slash rally from here? They'll give us a real darn good idea, but we already got a little hint today. 922 new yearly lows without an index hitting new yearly lows. That means a lot of stocks are acting in advance. though again reversal today so some will have come off those lows nevertheless

big bowl of slop if things change we'll let you know have a great evening drive carefully when you get home to like we do it's quite simple make sure you hug your family hug your children they will feel better you will feel better from New York City tomorrow we'll be doing the show we'll be on with Neil Cavuto between noon and 2 p.m. on Fox

Business check that out and until tomorrow's same time Have a great evening. Thanks for being with us. Make sure you hug your children. Bye, bye, all. This has been Investor's Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com.

That's GaryK.com. Success starts with your drive, and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop. You bring the fire, APU will fuel the journey. Learn more at APU.apus.edu.edu. This message is brought to you by the Capital One VentureX card. VentureX offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect.

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