A Commentary For Those Willing to Look Behind The Curtain by Mitch Santell
The U.S. Stock Market appears to be a bit unstable as it merely goes up and down at a level that I have never experienced during my time on this planet. The simple reason that the market is out of control is that the U.S. Federal Reserve continues to pump billions and billions of printed, fake, fiat currency (not backed by gold or silver) into the American Economy.
This is President Trump’s big lie as well as the Federal Reserve as well as all the political circus currently in Washington D.C. which is just a distraction.
As long as they keep us distracted, we won’t see the thousands of farms being flooded in the mid-west from all of the Geo-Engineered rain. We won’t see the thousands of illegals that are flooding into the United States each week. Why? It is all bread and circuses.
We just witnessed the worst month for U.S. manufacturers in more than 10 years, and nobody seems optimistic that things are going to get much better any time soon. In fact, one expert is warning that “more damage” is coming if the trade war is not resolved, and unfortunately it does not appear that a resolution will be possible for the foreseeable future. As I have been detailing for months, the entire global economy has been steadily slowing down, but some shocking new numbers that we just got indicate that our economic problems are really starting to accelerate. So hold on to your hats, because it looks like things are about to get really crazy. According to CNBC, September was the worst month for U.S. factories in more than a decade…
The U.S. manufacturing purchasing managers’ index from the Institute for Supply Management came in at 47.8% in September, the lowest since June 2009, marking the second consecutive month of contraction. Any figure below 50% signals a contraction.
The new export orders index was only 41%, the lowest level since March 2009, down from the August reading of 43.3%, ISM data showed.
Read more here:http://bit.ly/30QS1sl
But what happens if there’s actually a recession?
The US gross national debt jumped by $110 billion on the last two business days of Fiscal Year 2019, and by a breath-taking $1.2 trillion during the entire fiscal year, after having already jumped by $1.27 trillion in Fiscal 2018, the Treasury Department reported today. This ballooned the US gross national debt to a vertigo-inducing $22.72 trillion.
These beautiful trillions whipping by are a joy to behold: so much action in so little time. The flat spots in the chart below are the results of the debt-ceiling charade in Congress. When the debt ceiling is lifted, the debt spikes back to trend, and nothing changed:
During Fiscal 2019, the gross national debt increased by 5.6% and now amounts to 106.5% of current-dollar GDP, up from 105.4% at the end of Fiscal 2018.
Read more here: http://bit.ly/2VfOL95
See Wolf Street on YouTube at http://bit.ly/2LQDqJv
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It’s funny because we’re fed constantly that the economy is doing “so much better since the Obama administration” and that things are going good. Happy to see you mention the Federal Reserve as THAT is a major source of a lot of what’s happening now.
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