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Juneteenth Gloom Is in the Air, Especially for Democrats

Today is Juneteenth. Let’s celebrate.

Happy June 19th To all those celebrating, I mean everyone on Wall Street. The markets were closed today, but I wanted to bring you Breitbart Business Digest anyway.

Also known as Juneteenth “Liberation Day” It commemorates the day in 1865 when Union soldiers announced their emancipation to black Americans in Galveston, Texas. Of course, the Emancipation Proclamation had been signed some two and a half years earlier, which adds a bit of awkwardness to the occasion, which is probably why the holiday wasn’t officially adopted until recently.

He has served in public office for 50 years and has had a tumultuous history when it comes to race relations. Joe Biden Last year, he suddenly declared that this holiday “must be observed.” He is, above all, a politician.

President Joe Biden, along with Vice President Kamala Harris, lawmakers, and guests, signed the Juneteenth Independence Day Act at the White House on June 17, 2021. (Official White House Photo by Carlos Fife via Flickr)

So here’s the situation: government employees are off, but many private sector employees are still going to work and earning tax revenue to fund their free time.

wonderful.

And yet another holiday comes in the fall! Pride Month It’s unbearably exciting.

Seriously, while some on the left are clearly trying to use Juneteenth to replace or undermine Independence Day, overall Juneteenth is a day that Americans should celebrate. Republicans freed the slaves from the racist Democrats. enjoy!

(Be sure to read my colleague Joel Pollak’s commentary on the day’s events here.)

Biden Inflation, Political Turmoil

One thing the Biden world won’t be celebrating today is that the June Signals survey showed that “inflation and the economy” of Priorities of American Voters At this point in the election cycle, financial concerns are the top area of ​​focus: 27.9% of survey respondents cited it as their top priority, with other responses falling significantly lower.

Making things even worse for Joe Biden, the second most important issue according to respondents was Illegal immigrationThis was the top answer for 19.7% of those surveyed.

It’s only going to get worse for Joe and the Democrats. abortion The survey ranked it last (4.1%). Gun Control (5.8 percent) and Climate Change (5.9%), and all of the Democratic candidates’ major policy issues.

In a national opinion poll paint The presidential election is expected to be fierce as the first debate approaches next week, but Joe Biden’s case is clear. Unpopular with ordinary Americans.

So the economy and Biden inflation could be the deciding factors in this election. People who dislike both candidates Voting against their (perceived) economic interestsWe won’t know until November, but it’s Biden and the Democrats who will have to work hard until then.

Declining confidence in homebuilders

But not everyone has the day off on Wednesday. Monthly index release Chase Single Family Home Marketand the results were pretty weak. Of course, high mortgage rates are to blame. 30-year mortgage rates have been hovering around 7%, which is about the same as their average over the past year and a half. The index fell to 43 in June, down from 45 in May and well below the median forecast of 45.5.

This data is Rising pessimismwhich is also more likely to increase it.

Nvidia: Awesome

The most talked-about phrase in the financial world over the past year or two has been “The Magnificent Seven” This refers to the seven largest publicly traded technology companies that have driven the stock market in recent years: Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta and Tesla. The AI ​​race has reshaped the debateAnd one company that has emerged as the biggest of them all is Nvidia.

The market capitalization of semiconductor companies is $2.16 trillion as of April 1,already Outperformed all publicly traded companies on the planet Outside of Apple and Microsoft, the world’s best $3.34 trillion As of this morning.

The company was founded in the early ’90s and initially focused on the video game industry through its graphics processors, before shifting its focus to cryptocurrency mining chips and cloud gaming, where it has enjoyed success. AI Gold Rush.

The company is well positioned for continued rapid growth due to its advantages in AI chips and data centers.

Whether the AI ​​revolution brings about a new golden age, an apocalypse, or something in between, one thing is certain: People who bought Nvidia They were very wealthy over 20 months ago and are likely to become even wealthier in the future.

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