Robert Kiyosaki Says Debt Ceiling Deadlock Like Japanese Kabuki Theater, Calls Impasse A 'Bad Comedy'
Portfolio Pulse from Bhavik Nair
Robert Kiyosaki, author of 'Rich Dad, Poor Dad,' compared the ongoing US debt ceiling deadlock to Japanese Kabuki theater, calling it a 'bad comedy.' As the deadline approaches, major indices like SPY and QQQ have shown downward trends, and Fitch placed the US 'AAA' rating on Negative Watch. Kiyosaki remains bullish on gold, silver, and Bitcoin.
May 25, 2023 | 6:33 am
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NEGATIVE IMPACT
Bitcoin (BTC) is down over 7% in the last month, and future trends will depend on the Federal Reserve's policy path and treasury yield movements.
Bitcoin's price has been negatively impacted by the ongoing debt ceiling deadlock and uncertainty in the market. Future trends will depend on the Federal Reserve's policy path and treasury yield movements, which are currently influenced by the debt ceiling situation.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
The Invesco QQQ Trust Series 1 (QQQ) shed 0.51% on Wednesday as the debt ceiling deadlock continues.
The debt ceiling deadlock has created uncertainty in the market, causing a downward trend in major indices like QQQ. As the deadline approaches without a consensus, investors may become more cautious, negatively impacting the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) closed 0.72% lower on Wednesday amid the ongoing debt ceiling deadlock.
The ongoing debt ceiling deadlock has caused uncertainty in the market, leading to a downward trend in major indices like SPY. As the deadline approaches without a consensus, investors may become more cautious, negatively impacting the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80