FED. WARNS "PEOPLE WILL LOSE THEIR JOBS." COST OF LIVING CRISIS, INFLATIONARY DEPRESSION. Mannarino
From Greg M
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In relation to wether the Fed is going to remain nudging the interest rates, I recently watched an interview of the French economist and ex-trader Olivier Delamarche saying the following at min 23:10 when asked about the consequences of the Ukraine crisis on the stock markets.
https://www.youtube.com/watch?v=ZUY9EdGQ7tU
For those who don't speak French, here is a quick translation that I've made:
"...It's very simple, I don't know if you've seen it, the last FOMC report suggests that they are beginning to admit that it would be pertinent to start slowing down the interest rates rise. Well, slowing down the interest rates rise means that it is the last stage before they begin to lowering them. As I had told you before, when they would begin to admit that we are in a recession, as we are now, having high interest rates is complicated, so they are going to reverse course and bring the back down. I don't know wether is going to be this year or next, but there is going to be a drop, that's for sure. Now, as far as stocks are concerned, usually a recession means a 30% drop in the markets depending on the severity of the reception. If stocks start to fall to those levels the central banks will intervene, which means that the central banks will not only announce a drop int the interest rates but will also announce a new round of QE. Why? Because it will allow them to have bonds bought and have liquidity so support the marker, that's what they do. So, ideally, you should have a sharp drop in the markets followed by an intervention from the central banks to bring indices back up. Whether there will be new record highs I think it's possible. And after all that, I think that the market is finally going to realize that there is no plan B, that there is no going back to normal, that the central banks cannot stop QEs, and from that moment it will not be the stock market that will be destroyed, it will be the currency. A currency crisis is the worst of all crisis because it labels all assets. Therefore whether you have stocks, real estate, treasury, or anything that is labeled by currency, those assets will crash by definition. After all, stocks represent very little of what people have, you can perfectly live without owning any stocks, so what is going to destroy everything is the currency because it's complicated to not have any Euro at all if you are in France for example. You can't just walk into your bank and tell them you want a different currency... "
I apologize if I missed any technicality.
We're in the calm before the storm. Some predict a cyberattack or even a fake Alien Invasion to cover up the debt implosion. Others predict the dollar will collapse if the BRICS currency ends the petrodollar. Greg is the only financial guy I've seen so far who really gets what's going on. Everyone else just says "oh, the Fed is making a terrible mistake"- no it's all PLANNED.