Good morning. Here’s your Daily SITREP for Friday, 01 December 2023.
Forward Observer’s Cyber Monday deals are live. Next year is going to be turbulent. Protests, riots, civil unrest, supply chains, markets, elections — you name it, it’s going to get disrupted. You don’t have to go it alone in 2024. The Early Warning intel team keeps you informed on what matters, when you need to know it. Put us on your team with a new Early Warning membership.
- (1) NO LABELS LOSING MOMENTUM, CANCELS IN-PERSON CONVENTION: The bipartisan group No Labels canceled their in-person convention in Dallas, Texas, that was scheduled for 15 April 2024.
- No Labels said they will move to a virtual convention to enable more members “from all walks of life” to participate in the convention, and the group will be on the ballot or gathering signatures in 27 states.
- Why It Matters: The Biden campaign has largely ignored the possibility of a No Labels ticket, declining to treat them as a real threat. No Labels is unlikely to find a Trump alternative for a third-party run that could break Trump’s base of support. – R.C.
- (2) SANTOS EXPULSION VOTE EXPECTED TODAY: Rep. George Santos (R-NY) is expected to be expelled from Congress in a floor vote today after Rep. Robert Garcia (D-CA) introduced a resolution requiring a vote by the end of the week.
- Rep. John Rutherford (R-FL) said Santos was not cooperating with the hearing process, “so we brought it to the floor.”
- Why It Matters: Santos’ expulsion will trigger a special election that will likely see his seat flip to Democrat control, bringing the Republican majority back to eight seats. Biden won Santos’s district in 2020, and it leans Democrat, making it likely the Democrats will hold onto it in 2024. With new Democrat pickups in southern states ordered to create new majority-minority districts, Democrats will have a seat advantage going into the election. – R.C.
- (3) FABER: HIGHER INFLATION, INTEREST RATES FOR NEXT 20+ YEARS: Marc Faber – also known as “Dr. Doom” – said that inflation and interest rates will trend higher for the next 20-30 years, although there will be short-term countertrend moves during this period.
- Faber also forecasts a U.S. recession, noting, “For most people, the economic recession is a reality already because their wages have gone up less than the cost of living increases.”
- “Gold and other precious metals are still a good investment from a long-term perspective and also from a safety aspect,” Faber said.
- Why It Matters: Higher inflation and interest rates are likely this decade as the world adjusts to less globalization and the friendshoring/nearshoring/onshoring trend. These actions should squeeze corporate margins, and companies will pass on the higher costs to customers. – H.B.
Forward Observer’s Cyber Monday deals are live. Next year is going to be turbulent. Protests, riots, civil unrest, supply chains, markets, elections — you name it, it’s going to get disrupted. You don’t have to go it alone in 2024. The Early Warning intel team keeps you informed on what matters, when you need to know it. Put us on your team with a new Early Warning membership.