[Weekly Roundup] Leading in La La Land

SATURDAY ROUND UP

Leading in La La Land

Hello, Fellow Navigators.

Things started out with a bang this week when Taylor Swift… er… I meanthe Kansas City Chiefs won Super Bowl LVIII.

The event embodies all things American: The spirit of competition, unabashed celebration, and an avalanche of advertisements, all washed down with plenty of ice-cold beer.

Viewership broke records, marking the highest U.S. broadcast numbers since the moon landing in 1969.

We’ve come a long way since the moon landing, in many… ahem… manyways. Still, as the presidential election circus gathers steam and divisiveness yawns ever greater, it’s always refreshing to see how effortlessly we Americans collectively embrace the joy of the moment.

(That said, our condolences to the life lost and those injured in the downtown Kansas City shooting during the victory celebration.)

One of the less desirable ways we’ve come since beating the Soviet Union to the moon is the loss, down the social media rabbit hole, of any kind of self-respect. Politicians and media professionals seem to have lost interest in being taken seriously. Instead, they seek stardom…

Exhibit A: President Joe Biden’s social media post after the Chiefs took the Super Bowl trophy…

Yes, sadly this is real. And utterly reminiscent of Charles’ point in Wednesday’s essay:

Unfortunately, our politicians and leaders are more interested in social media likes and prime-time talk show appearances than in actual policy. We have a government whose only real function is crying for attention on social media like a moody teenager… and a mainstream media ecosystem that effectively encourages it because it’s good for ratings.

We understand the satirical humor behind this. But don’t you and your staff have better things to do with your time, President Biden?

Like maybe actually doing something responsible about our national debt, which now threatens our very economic stability. In fact, according to The Wall Street Journal, our government will soon spend more on interest payments than defense!

But wait, this comedy show gets better…

In other presidential news, despite his herculean efforts, Donald Trump’s first criminal trial is set to begin soon. Those lucky ducks, getting called in on March 25 for a chance at a seat on that panel… ahem…

Will it make one iota of a difference to his presidential bid?

Who knows?

More importantly, who cares?

It’s not like whoever takes the White House for the next four years is going to change the path we’re on to fiscal devastation… or successfully pass any meaningful – useful – legislation that will return our freedoms to us. Both have had their chances… and both blew them.

No… it’s up to us to defend our rights to life, liberty, and the pursuit of wealth. That’s why The Freeport Society exists. That’s why you’re reading this right now. That’s why we covered it in The Freeport Navigator this week.

See for yourself…

Looking Ahead

As we gear up for Presidents’ Day, it’s high time we ditch the idea of worshiping leaders like they’re some kind of divine beings. After all, they put their pants on one leg at a time just like the rest of us.

(By the way, the U.S. stock market and our offices, including Member Services, are closed on Monday.)

But beyond contemplating who exactly we’re honoring on Monday, there are a couple of other highlights to look out for next week.

For starters, we’re publishing the February edition of The Freeport Investor on Wednesday. Charles is recommending buying shares of a company that could not only help business survive the Californication of this country, but also help investors profit in the process.

The latest “good idea” California is sharing with the other 49 states?

It’s Assembly Bill 5. That’s the one where freelance work is basically outlawed and the state’s government takes away yet another way for its people to earn a living.

If you’re already a Freeport Investor subscriber, be sure to log in herenext Wednesday. If you’re not yet a subscriber, here’s what you need to know to correct that oversight.

Beyond our own Freeport business, we have three Federal Reserve presidents giving speeches next week as well as the release of the minutes from the January meeting. So, we should get a little insight into what the Fed’s rate cut timeline might look like given the stickiness of inflation.

Both Walmart Inc. (WMT) and Home Depot Inc. (HD) will release their quarterly earnings as well. I’ll be particularly interested in what Walmart’s management has to say because the company isn’t just America’s largest retailer… it is America.

Ninety percent of Americans live within 10 miles of a Walmart, and their shopping habits give us insight into what’s happening in the real economy. For over a year now, Walmart has reported that, in response to inflation crimping budgets, Americans are spending more on basic necessities and less on discretionary items. It also has been reporting that foot traffic is trending toward higher-income Americans who have opted to trade down from more expensive stores.

What does it all mean? We’ll know soon enough. But we’re curious to see what Walmart’s results tell us about dollar devaluation and how Americans are coping with it.

That’s it for this seventh week of 2024.

Yours in the pursuit of life, liberty, and wealth,