Why Fitch was right to downgrade the U.S.

Prepare yourself for several rants today…   I start the show with some comments about CNBC’s Squawk Box, which is usually a solid show—but not today.    Next, I highlight some of this week’s most important earnings reports—including results from General Motors (GM) and Ford (F). I break down how GM’s CEO is lying through her teeth about electric vehicles (EVs)… why most automakers are afraid to face the truth about the EV trend… and how a little common sense could help their shareholders.   Don’t miss tomorrow’s WSU Premium, where Daniel and I will break down the winners and losers of this earning season (For full access to the premium podcast subscribe at WSUOffer.com).   Stocks are sinking today after Fitch Ratings downgraded the U.S.’ credit rating. I highlight some shocking numbers from the report… and explain why we’re in a much worse situation today vs. the last downgrade in 2011.   Of course, politicians and economists are pushing back against the downgrade. I rant about some of the most absurd arguments from the likes of Larry Summers and Janet Yellen… why I have to tip my hat to Fitch… and the silver lining in the downgrade.   Finally, I rant about how politicians need to be held accountable for their reckless spending… and how the problem spreads into issues like central bank digital currencies (CBDCs), climate change, and political corruption.   In this episode I have a bone to pick with Squawk Box [0:30] GM’s CEO is lying through her teeth [6:25] What’s behind Fitch’s debt downgrade? [10:00] Larry Summers is a bum [19:30] Why CBDCs don’t really benefit consumers [26:15] How politicians use climate change to scam us all [28:35]   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: www.curzioresearch.com