LIVE! U.S. Dollar Purchasing Power CRATERS. Retail Sales FALL. Deficit Expected To DOUBLE Rapidly.
From Greg M
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I remember when we lived in Marion Iowa around 1967, we’d go to the Eagle grocery and my folks would spend on average about $20-$22 and we’d have around seven sacks of groceries to take home. And that was seven large brown paper sacks, not the little plastic ones they give you now. The receipt was over 4' long!
Charles Schwab is down $16 Billion in bond losses. JPM is down $40 Billion in bond losses. Citigroup closing its municipal bond trading business...and have unrealized losses trying to buyout Egypts debt, and this has led to Operation Bora Bora. This is as much as we know now, and I can only imagine that what is really going is far worse. If anyone really understood the situation from 10,000 ft above, they'd see that the Federal Reserve isn't going to start buying those bonds again, because they have to balance out their 2% goal of inflation. So, this means that the Federal Reserve is going keep interest rates flat until risk starts working its way back into the debt market, and yield continue to keep rising. When this happens, the Federal Reserve has the authority to start cutting rates from a crisis, disregarding its policy of 2% inflation. The big banks do not have to worry about the losses, because the Federal Reserve will bail them out. This is why Jamie Dimon sold his shares. If Jamie Dimon believed that the Federal Reserve was going to start buying out their bond losses, he wouldn't have sold his shares. He knows the Federal Reserve is going to allow a crisis to unfold that will decimate the market, but at the same time bail out the banks again.