The Shit to Know Thursdays

Happy Halloween gents! 

It’s been a big week leading up to the election, a lot of shit happened. As usual, I’m here to dissect it for you.

Market Indices & Commodities

Markets
Earnings

It’s been a big week of earnings:

McDonalds ($MCD) - Q3 EPS and revenue beat predictions. Decent set of earnings. Much needed given McDonalds shares tanked 10% last week after their burgers caused a fucking outbreak of E. coli.

Advanced Micro Devices ($AMD) - EPS equaled predictions, and revenue forecasts were beat ($6.82bn vs $6.71bn). Not too bad on paper, but the markets reacted awfully and the share price fell by 5% straight after earnings were announced.

Microsoft ($MSFT) - EPS and revenue beat. Revenue grew by 16% and earnings by 10%. Fucking strong. Stock still dipped 5% today though for no fucking reason.

Meta ($META) - Estimates were beat. However, investors still reacted badly sending the stock down 4% today.

Amazon, Apple and Intel all release their earnings tonight

Politics
Chinese National Voted Illegally in US Election

Officials in Michigan have charged a Chinese national for illegally voting in the 2024 US election. The incident occurred at an early voting site in Ann Arbor on October 27th.

The 19 year old Chinese student has been charged with one count of perjury and “unauthorized elector attempting to vote”.

Officials have been quick to state that non-citizens voting is very rare.

My concern is this. If a guy can go to a physical voting site and get his vote in, how much can we trust mail-in ballots? This guy literally used his student ID to establish residency.

Politics
Illegal Immigrants Say They Won’t Try and Enter US if Trump Becomes President

A media company interviewed South American migrants in Mexico recently. Their hope is to get through the US border before election day on November 5th, and have their asylum claims processed before Trump would be inaugurated in January, if he won the election.

Trump has vowed mass deportations and secure borders, were he elected. He also wants to impose the death penalty on migrants who kill US citizens.

Given these migrants in a race against time with the election, this deterrent from Trump should clearly stem the flow of illegal immigrants entering the US.

It would seem that if you want a fucking flood of illegals in America, vote Kamala. If you want borders which actually act like borders, you should vote Trump.

UK
UK Budget

Yesterday, the newly elected left-leaning Labour Party announced the Budget int he UK for the next 12 months. The Budget basically refers to how the government will collect and spend its money.

Spending will increase by roughly £70 billion and taxation by about £40 billion. What does this mean? There’s a fat budget deficit so there’s gonna be fuck ton of borrowing. Great.

As a result, UK borrowing costs have hit the highest level this year as investors sell government bonds. Bond yields have risen by over 0.5%, which will lead to £14 billion per year extra debt interest for the government to pay off in the long run. Fuck me.

The pound also fell 0.8% against the USD, its lowest in just over 2 months.

Clearly, what little confidence there was in the UK, especially among foreign investors has now deteriorated following this shit-show of a budget.

^{_{Thank You}}
That’s all Folks

Enjoy Halloween tonight fellas…