AGAIN! Even More Bad Economic News: Here Is What's Next From The Fed. By Gregory Mannarino
Well here we go again!
Today we got even more bad economic news.
- Wages remain flat, and
- Consumer spending barely moved.
So what does this mean?
I expect one more rate hike from the federal reserve this year, most likely in September, 25 basis points and then they are done. All this talk from the Federal Reserve regarding their balance sheet normalization it is simply not going to happen this year.
Despite the fact that the stock market is at all time record highs, our economy is simply going nowhere. Moreover the plummeting dollar value, (it is at a 15 month low), is already hurting consumers as evidenced in round 2 (listed above) with regard to economic reports.
Even more bad news on the economic front.
Today both General Motors and Ford reported big misses with regard to sales of new vehicles...
Gregory Mannarino @marketreport
Flat wage and flat consumer spending is not a disaster.
Misses by both Ford and GM signal the end of long bull market for auto sales in the US
The USD is crashing, wages remain stagnant yet the Stock Market marches one. How can they keep the debt bubble alive and well? Do we see 10-12 year auto loans and 40 year mortgages in our future? They'll come up with something to keep the debt train chugging along.
Ermm... Unless the Fed wants everything to crash (and blame Trump for it)
I'm expecting the market to at least correct really soon. It just keeps going up
Thanks Greg. Do you think we will see any dollar oversold bounce soon?
We should, yes.
I'm working on oil via USO too, Greg. I'm planning on bringing gasoline prices down to below $1.50/gal nationwide by Labor day. Cept in Cali of course. Could you please explain to me and your viewers why people in Cali are "forced" to pay higher prices for EVERYTHING? I say it's in teh govmint charter of Cali. Am I wrong, Greg? Even more impotently...do you know of anyone who is doing more to make America great again then I am? Oh, I also wanted to let everyone know that I have taken on a protege named @alexmiller and together we are going to save J.C.Penney Co (JCP) from bankruptcy. Watch my JCP blog for "blue light specials"...which Alex will be posting direct from teh JCP website. I'm hoping I get my hard hat before I take the markets down in a blaze of glory. :-)
How high do I have to take UUP to get credit for a GRRREAT call, Greg? Howzabout if the UUP 8/18 expiry $24 stike calls double...in a week? :-) Wait'll you see what I do to SLV and GDX. Hoooo boooy! Hope you took my advice and hid the chitlins. :-) Stay close to your pooter screen for today's bitcoin "excitement" too. The "signal" will be when GBTC trades thru $430. Now at $410.00. And look at Tessie! Back below 320 and right on target for my 280 lb goal I set for her. That'll put her in the wrestling weight class of 10% of men in America! You "excited," greg? :-)
I've worked literally all summer and have nothing to show for it so I officially hate myself
Please don't hate yourself.
But i hate summer im so bored and sad.. thanks for your support Mann.. ❤️
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Love the post - Great content - Great Pictures and the perfect outlook!! UPVOTED COMMENTED - For YOU!!
Technically the dollar is oversold right now and been so for at least a week. Greg do you believe fundamentals could be taking a stronger hold over the POSX? Or is this just a reflection of the EUR increase lately?
this auto bubble about to pop and it's going to be bad