Is Biden Destined To Become The Next Jimmy Carter?
The Biden Administration is having a rough couple weeks…
Two weeks ago it was a shocking government report showing hiring stalled…
Then last week the wheels fell off with 3 major crises happening at the same time.
- Gas Shortages And $5 Million Ransoms
Much of the South Eastern United States saw 1970’s style gas shortages and gas lines last week.
This due to the hack on Colonial Pipeline that brought the entire operation to a halt.
The disparate factors are not all directly related, and the pipeline shutdown was prompted by Russia-based ransomware hackers who penetrated a weak private sector network. While that did not affect supply, it prompted a rush of panic-buying from the public, leading to gas shortages in multiple states. Administration officials say the other matters are the expected blips of an economy emerging from a catastrophic pandemic-related crisis, with demand surging as Americans return to a new normal.
The Colonial Pipeline was back running on Thursday after a two-day stretch of long lines at gas stations and pumps running dry. Biden sought to aggressively head-off the gas crunch through waivers and other means, but the problems are likely to persist as the network gets back online.
The above is from CNN.
And they’re putting things gently.
Fights broke out a separate gas stations over the low gas supply… And some lines in Florida just to get gas were hundreds of yards long outside the stations.
And the only thing that got Colonial back online was because they paid the hackers $5 million in untraceable cryptocurrency.
This sounds like the plot of an action movie… Russian hackers taking over a United States pipeline for a $5 million ransom.
But it wasn’t. And this was the least problematic thing that happened this week believe it or not.
- Israel Getting Bombed
Also, this week Hamas terrorist began shooting hundreds – maybe thousands – of rockets into Israel.
Luckily, most of the rockets have been intercepted and blown out of the air by Israel’s Iron Dome missile defense system.
But its only 90% effective and there have been deaths and destruction from some of the missiles.
In retaliation for this, Israel is now threatening a ground war against Hamas and just called up 9,000 reservists for duty.
Gas shortages are annoyances… This is life and death scary.
And unfortunately, there’s still more.
- Inflation Hits Highest Levels Since 1981
You can read the full article I wrote about this below…
Here are some short excerpts…
Over the last several weeks I’ve warned you that inflation is coming fast…
And it’s now officially here…
The Consumer Price Index (CPI) – measure of inflation – rose 0.9% from March to April… This is the fastest one month rise in inflation since 1981. And this is without food and energy prices.
With the so called “all items index” inflation rose 4.2% in the last year.
And it was even worse when looking at individual line items.
Vehicle prices rose 10% in April… This is the largest 1 month increase since this data began getting collected in 1953.
The total energy index saw prices rise 25.1% in the last year.
And gasoline prices rose 49.6% in the last year.
Inflation, gas shortages, and the Middle East on fire… This all sounds like its straight from the 1980’s during the Jimmy Carter administration.
Things got so bad last week that some in the media even began asking the question – Is Biden Destined To Be Another Jimmy Carter?
I ask you that in todays poll which you can answer further below.
Anyone of these issues by themselves are bad for your retirement… Together they could be the things that pop this economic bubble we’re dealing with.
There’s already a gas shortage in parts of the U.S. Even after the pipeline reopened… If the Middle East goes to war – energy costs will skyrocket. Which will lead to even higher inflation.
This could devastate your retirement portfolio if its not protected from risk.
You can learn more about how to protect your portfolio from the various risks out there in the following article.
And this doesn’t even go into the disruption and literal life and death situation that is going on right now in the Middle East that is tragic.
As I’ve been saying in recent weeks, things are improving… But we’re still not out of the woods economically yet.
There are still enormous risks out there you need to protect yourself and your retirement portfolio from.
You can see those articles below.
- Warren Buffett – “We Are Seeing Substantial Inflation”
- Steps To Take Now As Inflation Rises
- What Should You Do As Home Prices Skyrocket?
- Do This As US GDP Grows At The Fastest Rate In 40 Years
- Why You Must Build An Emergency Fund Now
- 1 Tip To Protect Your Retirement – Avoid Bonds
- The United States Is Now The Highest Valued Country On Earth
I don’t recommend selling everything… What I do recommend though is cautious optimism – with the keyword being cautious.
And continue to make sure you’re invested in great stocks that have the following traits…
- They’re cheap.
- They have little to no debt compared to a lot of cash.
- They produce large profits and cash flows.
- They pay dividends.
- And make sure they aren’t in industries that could be hammered by Covid in case it comes back.
These kinds of stocks – the ones I try to find for you every day – are things you should continue investing in because they will provide you good to great returns no matter what the market is doing.
All while protecting you from the major risks like valuation, unemployment, debt, and inflation.
Here are some of those stocks I’ve already found for you to consider investing in to protect your portfolio…
- J.M. Smucker
- General Mills
- Will Biden’s Infrastructure Plans Crush Housing – And This Stock?
Your guide to financial freedom and achieving your retirement goals.
Always in your service,
Publisher Stock Market Daily