Tech stocks headed for ‘bloodbath’ in 2023, more ‘job threats’ expected

During the day, I listen to Sirius XM channel 113 Fox Business Channel. We don't have idiots from The View giving opinions. We have corporate and financial people and those who worked in the US government including the department of the treasury discuss issues at hand. We have knowledgeable people like Steve Forbes and Arthur Laffer as regular guests on these shows that discussed the pros and cons of how the Biden government is trying to temper inflation but they keep spending like drunk Sailors and they wonder why it doesn't work?

This is what happens when you put 5 trillion dollars into the US economy and then it overheats.

President Biden keeps adding regulations and raising interest rates and his administration is killing business which is the Mother's Milk of the financial markets.

Remember President Trump left us with a 5% growth rate and a 1.3% inflation rate.

Inflation is now hovering around 7% and interest rates were near zero three years ago.

This would not have happened under President Clinton and under JFK but it happens under President Biden because his agenda doesn't believe in opening the spigots of oil production and lowering regulations.

I recalled it under President Trump, they wanted to get rid of five regulations for every one regulation they added.

The war in Ukraine and covid-19 lockdowns in China may have affected businesses some but the USA would be energy independent and the Keystone XL pipeline probably would have been ready by the end of the 2023 and those liquid natural gas permits for liquid natural gas exports from Eastern ports would have probably been approved by this time and construction would have commenced but this Administration believes in getting rid of fossil fuels and relying on unreliable wind and solar energy.

We may have had a slow down but the inflation wouldn't have been there because president Trump wouldn't have injected 5 trillion plus dollars into the US economy that really wasn't needed.

Inflation will continue to make the Federal Reserve raise interest rates affecting Corporate America even more.

It's on my tech stocks are down 2/3 or 66% compared to a year ago. Tesla is down over 60%. Apple and stocks like Amazon are also down significantly. This Democratic Federal Reserve is trying to do demand destruction and they are slowly succeeding. They want to destroy your portfolio so they can slow down the inflation but if they stopped spending so much money, it would be so much easier in your portfolio would not suffer so badly. They just spent a 1.7 trillion Omnibus Bill last month and it's going to take 6 months to a year for that inflation to kick in.