McCarthy’s ousting will draw out the selloff

I just returned from a business trip to Miami… and start today’s show with a rant about how consumers are getting “fee’d” to death.   Stocks are selling off as investors digest higher-for-longer interest rates and lingering inflation. And I see way more downside ahead…   I share some data on the impact of student loan payments, which have resumed after a three-year pause. I also highlight the biggest headwind for the economy (hint: it’s a rising cost that none of us can escape).   I’ve been pounding the table on how this is one of the most dangerous markets I’ve ever seen… Despite the fastest pace of rate hikes in history, some of the riskiest stocks have been surging. But this irrational bull run is coming to an end. I explain why the Fed won’t be able to pull off a soft landing… and why we should brace for more pain throughout the housing sector, community banks, and consumer spending.   Shockwaves are rippling across the political aisle as House Speaker Kevin McCarthy (R) was ousted this week. I explain how this changes my thesis on ridiculous government spending… and why it will lead to a long, drawn-out selloff in stocks.   But that doesn't mean you should sell everything and move to cash. Tomorrow on WSU Premium, I’ll share exactly how to position yourself for this market—including a new Dollar Stock Club pick… from a sector I’ve never recommended before in my entire career. Access the premium podcast at WSUOffer.com.   In this episode We’re getting “fee’d” to death [0:30] What's behind the market selloff? [7:30] Consumers can’t escape this rising cost [10:45] Why this irrational bull run is ending [20:35] Why McCarthy’s ousting will trigger more declines [28:25] Don’t miss tomorrow’s WSU Premium [40:20]   Enjoyed this episode? Get Wall Street Unplugged delivered FREE to your inbox each week: www.curzioresearch.com/wall-street-unplugged/   Wall Street Unplugged podcast is available at: --iTunes: itunes.apple.com/us/podcast/wall-street-unplugged-frank/ --Stitcher: www.stitcher.com/podcast/curzio-research/wall-street-unplugged-2 --Website: www.curzioresearch.com/category/podcast/wall-street-unplugged/   Twitter: twitter.com/frankcurzio Facebook:. www.facebook.com/CurzioResearch/ Linkedin: www.linkedin.com/in/frank-curzio-690561a7/ Website:   Access the WSU Premium at WSUOffer.com.