Welcome back to the Mad Core Show or welcome to the Mad Core Show if this is your first time watching. More than happy to have you here and I hope you're ready for another fun-filled week in the old Stomp! Market Yes, we're here to talk about stocks, crypto, the economy, breaking news, and pretty much everything else in between in this particular episode. I Want to talk about everything you should most likely be paying attention to for the remainder of this week, including the most recent updates on the debt ceiling negotiations, what's going on with Fed and inflation, and what's going on in the craziness that is the regional banking sector, and one other thing I Want to talk about how AI almost crashed the entire market today? A truly wild story. So with all that being said, make sure you buckle up, drop a like button and let's ride.

Thank you! Before we get into the important stuff, let's go over the really important stuff. You're not going to want to miss out on this because the tickets are going to be going like hotcakes Billy McFarland has secured funding for fire Festival 2.0 Now for those of you who remember Version 1.0 what in the world could possibly go wrong? Speaking of things that could go wrong, here's what I'll personally be paying attention to this week as it relates to stocks, the economy, and politics. The new home sales data will be coming out on Tuesday then on Wednesday the Treasury Secretary Yellen AKA Smeagle will be speaking. We'll also be getting the FED meeting minutes.

then on the next day Thursday we'll be getting the Q1 2023, GDP data and finally on Friday we'll be getting the next inflation report to Pce report. And on top of all of that, we're going to be having a total of five different bed members speaking throughout the week. The fun doesn't stop there though. We're still in earnings season, which means we're going to get some earnings reports from a few influential companies including Lowe's Kohl's Nvidia, Best, Buy, and Costco.

And now with the speed round out of the way, let's get into the meat of the video. Let's get into the main thing that as of last week, the weekend and today, all the zero DTE trading degenerates have been paying attention to I'm talking about the debt ceiling negotiations I'm talking about the current political gridlock I'm talking about how our government is acting like a bunch of children. As many of you know, over the past couple weeks, it's become pretty apparent that the Us is going to run out of money by the time we hit June And that's why our government's been arguing about how to raise the debt ceiling so we can just not run out of money, because apparently that's how we do things. As of last week, it seemed as if the Democrats and the Republicans were making pretty good progress and the fears of a U.S default seemed to drop.

Unfortunately, over the weekend, things took a turn for the worse on Sunday It was reported from a GOP negotiator Yesterday was a huge setback in debt talks shortly afterwards. Kevin McCarthy the current Speaker of the House followed up with this, just got off the phone with the President while he's out of the country, my position has not changed. Washington cannot continue to spend money we do not have at the expense of children and grandchildren. Tomorrow, he and I will meet in person to continue negotiations for pretty good reason.

Most Traders were preparing for a bearish opening, especially when the White House decided to clap back with this little doomsday gem. White House says if the U.S defaults, the stock market is expected to decline by more than 45 percent. Now, like I said, that was definitely some doomsday signaling in all reality. Throughout the day today, Monday both sides of the aisle were once again back on the tracks of seemingly making some progress.

Debt limit Talks productive ahead of Biden meetings says Speaker McCarthy depending on when you are or aren't watching this, I Just want you to know that Biden and McCarthy are scheduled to speak a half hour after the market closes today, the 22nd. Fortunately for the Bulls, we are going into the meeting with a little bit of optimism according to McCarthy I Think we can make it all happen by debt deadline? But wait, you didn't think that trading would be actually that easy, right? Speaker: Dorothy Quickly followed up with this little nugget. Debt ceiling talks are at a sensitive point. At this point, it's more than fair for you to feel as if we're on some sort of teeter-totter from hell.

and Morgan Stanley agrees. Morgan Stanley says U.S rally isn't start of bull market. You didn't forget about inflation, did you? That would be crazy, right? Fed's Bollard sees two more interest rate hikes needed in 2023 to cool prices. Just when we thought we were done with those pesky rate hikes here, we have a Fed member saying that the economy needs a little bit more medicine and in fact, he's not the only one according to Kashkari Right now, it's a close call between raising in June or skipping.

Important to me is not signaling that we're done if we skip in. June That does not mean that we are done with our tightening cycle. In the seven or eight years I've been on the Fomc, this is the most uncertain time we've had in terms of understanding underlying inflation. Dynamics I'm having to let inflation guide me.

it may be we have to go north of six percent one more time for the people in the back north of six percent. So uh, yeah, don't forget about inflation folks. On a little bit more of a positive note, the entire Regional banking sector bounced today pack West to sell real estate loans to Kennedy Wilson unit Regional Lender Pacquia said on Monday it agreed to sell a portfolio of 74 real estate construction loans with an aggregate principal outstanding balance of around 2.6 billion to a unit of Kennedy Wilson Holdings Pacwest said in a filing, it will also sell an additional six real estate construction loans with an aggregate principal balance of around 363 million to Kennedy Wilson Obviously, this helped increase confidence in the regional banking sector, at least in the meantime. So now the golden question is: will it last or is it just a momentary Pop I Would love to get your thoughts and a comment below and now it's time for one of the most absurd stories of the day: the week, the month, probably even the year I'm talking about how AI you know one of those I'm a robot things almost crash.

The end. Entire stock market on the screen now is an image of an ex at the U.S However, it's completely fictitious. It is 100 generated by an AI system. When the image was first released, not everyone knew that it was a fake.

Which means that it prompted some fear and some concern. But the wild thing is is it also caused a 500 billion that's billion with a B 500 billion dollar swing in the overall stock market. Or to put that another way, a fake image generated by AI briefly cause Financial Panic Within minutes, the original Twitter account that reported about near the had deleted the tweet and finally we got an official confirmation from the self saying there was in fact no. Clearly that's a massive win for like the entire world.

but it does show you the power of AI and also of fake news. That's what I have for you today. I Appreciate all the Good Vibes and I would love to get your thoughts in a comment below. I'll catch you in the next video.

and for now bye bye.