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
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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.
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Ermm... Unless the Fed wants everything to crash (and blame Trump for it)
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I'm expecting the market to at least correct really soon. It just keeps going up
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Thanks Greg. Do you think we will see any dollar oversold bounce soon?
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We should, yes.
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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. :-)
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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? :-)
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I've worked literally all summer and have nothing to show for it so I officially hate myself
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Please don't hate yourself.
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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!!
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This post has been ranked within the top 10 most undervalued posts in the second half of Aug 01. We estimate that this post is undervalued by $22.05 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Aug 01 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.
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this auto bubble about to pop and it's going to be bad
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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?
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The stock market was at all time high in the German hyper inflation. Doesn't mean anything in terms of the economy
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This dollar keeps going down but at least it is helping the growth in stocks.
Thanks for the information Greg
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For now yes. The weaker dollar is stock supportive however, the consumer is already feeling the pinch which will hurt spending, and thus earnings and GDP.
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I'm living in a matrix with this shiz. When does this insanity collapse? Trump administration has made it their goal to weaken the US dollar, and it appears to be working. What's next?
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Sadly this has been the inevitable outcome since the 70s when they took us off the gold standard...
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thank you for sharing
upvote
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like your post. thanks for share
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I watched a video of Pres. Trump on youtube telling that the economy is doing great. Gdp rose to about 2.6%, employment has also grown and so with the manufacturer sector. What's your take on this Greg.
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nice sir for ur updates today after some time i dont know what happen whats ur opinion about next btc result @marketreport
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Is the current market action, a blow off top? If not how much higher can it go at current debt limits?
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The world is changing and it is changing fast. Sales are going up and up, people can lend free money, and buy more and more. Housing prices here in Holland are going sky high, people are bidding above marketprices. We can not keep this, free money use..
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Bad to worse, why am I not surprised... Thank you for the update Greg!
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dollar gone down for some time but i think no big chages will make
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Thank you as always Greg!
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Very nice up to date information @marketreport i think fed is going to destroy the dollar if the things continue like this
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:( I hate summer now
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Consumers have no money to spend = bad car sales...
Thanx for the update....
Hold on, the ride is about to commence... :-)
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Thank you for the update
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Bad news don't matter no more
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ur post help us in many cases i see ur every post but u tell me whats ur opinion about ripple is i buy it this time or not?
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So, you think one more hike this year? I suppose they have to right? To save some face. I don't think it' ll bode well although the last time we melted down they ended up with a total of 4 and a quarter basis points before all hell broke loose. I wonder what the total will be this time? Any thoughts?
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With all the bad news it is a wonder they can keep this together. Thanks for the update Greg.
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very nice info greg what does fed wants not knows but at the moment it seems that not good for dollar at all.
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You got my vote and a resteem :)
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greg sir you got a wonderful mind and eye your timely suggestion really protects us from going down. thanks for the wonderful update to share with us.
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Greg, Gold is at a very dangerous area. If it breaks out of this long-term trendline, I believe it's gonna go crazy! What do you reckon?
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Uhhhm, relax, it won't. But the "buy the pullbackers!" will be happy. The ones who aren't too skeeerd to actually buy the pullback anyway. :-)
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Technically it has already broken it. But we will see if it is a false breakout here soon. I'm thinking it is false cause we arent going nuts and exploding higher yet.
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Plus, Gold Minors are not Participating. This usually indicates that Gold is not going Higher. Of course, this is not a guarantee but a good indication.
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SLV just signaled buy here at 15.80 so we "should be" seeing the "final" rally into my madness soon. I'm gonna try and time the crash on silver, gold, and the crypto nation so it happens all at the same time. Grab your popcorn...methinks I will be hitting that low target on BTC I spewed at your contest bored.
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I put my head down and plow and have never made more money than I do now...fuck job data. I make my own data!!!
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Thanks for the information Greg.the world is changing and it is changing fast I'm expecting the market to at least correct really .@arifulsms
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thanks Greg, what are your thoughts on crypto now?
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I agree with @msg768, there seems to be a very long-term trend that Gold seems ready to breakout from. However, I am thinking it is more like a False Breakout because we are not exploding upward.
I guess we will see. I am hoping that it decides to finally move higher and higher with no end in sight. Another of my issues though is that Gold Minors seem to not be participating...which usually means that Gold probably is not going to Breakout.
Thanks for the info.
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Good report! I up voted & re steemed this because it's important to know things like this. It would be great if you could return the favor.
Dollar value goin down is bad & will continue to go down. It's fiat money which economies can't thrive on that kind of scheme, that's why The economy is bad. The stock market is at its best but what goes up,will come down & i feel that when the bubble goes pop,it's going to be a shit storm. The only way to prepare for that when it happens, is to buy and sit on Gold & Silver. Funny how that's the real currency but yet can not spend it like cash unless you convert it to cash.
My opinion is that the dollar needs value to it and by doing that, it needs a valuable standard such as The Gold Standard.
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Based on this news the stock market should hit new highs and metals should go lower. If we could only believe what we see.
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Upvoted & Resteemed.
You are so right, there is once again bad news however that market keeps moving up and up and up.
I am just not participating in all this madness when it comes to a lot of my funds. I have diverisfied to ensure that I don't get too hurt.
Thanks for the post and look forward to your video later today.
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It was sad seeing Eric Trump on Fox news last night giving his father credit for the stock market at its highest. As much as I like Trump... it just shows it's all bullshit.
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H Greg, thanks for the information as always. But do you see tech sector rebounding soon since it has gone down quite a bit?
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Another great decline in the Dollar today. This seems to be becoming a trend... LOL.
Thanks for the post.
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More bad economic news and the markets go up. They will go up until they cannot go up any longer then the crash.
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good job greg..as always. This market ready NOW to just "rollover"...exit time.
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I think we have passed the point of no return, if either the auto bubble or student loan bubble pop, it will be a downward spiral much faster than this slow boil we are in now. Thank you so much for keeping us all updated, what you do is invaluable!
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Nice information and update from you sir
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nice and informative post gerg sir thanks for sharing...
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Just an aside, I make jewelry and have a few wholesale clients. For the first time, I am seeing this month clients take advantage of the net 30 I offer, for orders as low as 500.00.
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You post is very interested i upvoted ,and following you please don,t stop writing thanks @sharoon
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