Kevin Hassett, White House Economic Adviser (aka CHEERLEADER)
Mr. Hassett gave a news conference at the White House today. Was any real information conveyed? NO! Yes, he had a lot of happy talk but no substance. Things must be getting scary in the White House to start the parade of sycophants this early.
Asked about the dollar, Mr. Hassett made meaningless double-talk generalizations, and then as if to be definitive, deferred a substantive answer to Secretary Mnuchin who was no where to be found.
Asked about the stock market volatility, again, Mr. Hassett fumbled around with more nonsensical generalizations, then quipped that recent stock market machinations are normal! WHAT? Thousand point drops are normal!? Since when? The Great Depression?
Asked about inflation. well.... Mr. Hassett was just ridiculous, BUT, the onslaught of the coming wave of inflation is normal, and by his account it's a product of a booming economy. REALLY?
But, my personal favorite, Mr. Hassett stumbled around the true benefits of Trump's recent tax overhaul. And guess what? That fantasy that these corporations would raise wages across the board, is not happening as advertised. In fact, one reporter had a "generous" statistic that 43% of those tax cuts went to corporate stock buybacks and dividend payments, while only 17% went toward wage improvements. It's early so even those numbers may be far too flowery. The truth will be known next year. So, don't be surprised at much higher stock buybacks and dividends reported next spring.
Why am I picking on Hassett? Because he is the poster child for disingenuous insolent self-righteous misrepresentations of the current situation. At its core lies a deliberate narrative of deceit and self-preservation that preys on the innocence of the public. He, and people like him, are not serving the American public, but using their position for self-enrichment and the enrichment of their masters, the banking cartel. This is despicable and intolerable behavior that has no excuse.
In the markets today, it appears that the Plunge Protection Team (PPT) is back at it, trying to defy gravity. The more they rig, the worse it gets. If I didn't know better, it seems like the PPT is reading this blog because every time the technicals show DOWN TREND, magically out of no where tons of money flow into these weak markets. Today, in the last hour of trading, the market began to fade and started selling off. But wait, magically more money shows up in just the last 30 minutes to avoid another red day! Seriously?
Bloomberg now refers to cryptocurrency investing as the "crypto craze". So, does that also mean they are in a "stockmarket stupor"? The propaganda and market rigging WILL end, soon! And when it does, watch how fast these criminals back-peddle or try to explain away their comments. Or maybe, they'll just say nothing and hope you forget how you were conned by the bankers and their corporate media machine. Folks, you have to think for yourself because the establishment is owned by the bankers. We HOPE common sense will prevail for all of you. But, the attack on your mind is never ending. How a person thinks is a powerful quality.
Meanwhile, the US dollar continues to weaken, so the obvious question is "where is all this exuberance coming from?" And, here's the crazy part to this equation. While the FED is selling off ANOTHER $250 Billion in bonds this week, the bond market is UP with yields dropping! These bankers have flooded our economy was massive amounts of cash which is oozing through the stock and bond markets, and will eventually hit the streets of America. So, of course, these talking heads, cheerleaders like Kevin Hassett, are singing the virtues of inflation now. When this cash flood hits the streets, you're going to get inflation like you've never seen before. So, Mr. Hassett was making his move to get "ahead of the issue", because Americans are going get screwed but they'll be happy about it because inflation is good! Right.
By the way, don't think the bankers will spare you when this collapse becomes public. They easily throw their own under the bus as well. Rimsevics, head of the Bank of Latvia, is being accused of bribery in spite his consultations and meetings with the European Central Bank(ECB), he is being made a scapegoat. At this moment, I will bet that behind this scandal is DeutscheBank(DB) and its ugly derivative problem. Keep this issue in sight, it may signal the actual collapse of DB.
All of this market rigging by the bankers and double-talk from government officials is simply criminal. These guys know what is about to happen and they are too cowardly to tell the truth. This scenario is terribly cruel to the hard working people of this world. These bankers and their government minions need to go to jail. (In 2008 , NOT A SINGLE A BANKER WENT TO JAIL.)
People must be held accountable for their actions no matter how nice their suits are!
So, let's take a look at the charts.
This is the NASDAQ chart. Though it remains ABOVE the Trend Line and 50 moving average, it is signaling more weakness to come, with definite resistance at the 7300 level.
And here's the DJIA.
Notice the last few days. STILL below the 50 day moving average, hovering ON the Trend line with weaker volume. But, we'll see how much more the PPT's got. Looking kind of skinny.
BUY BITCOIN or your favorite cryptocurrency while people are sleeping, because when they wake up, watch out!
Asked about the dollar, Mr. Hassett made meaningless double-talk generalizations, and then as if to be definitive, deferred a substantive answer to Secretary Mnuchin who was no where to be found.
Asked about the stock market volatility, again, Mr. Hassett fumbled around with more nonsensical generalizations, then quipped that recent stock market machinations are normal! WHAT? Thousand point drops are normal!? Since when? The Great Depression?
Asked about inflation. well.... Mr. Hassett was just ridiculous, BUT, the onslaught of the coming wave of inflation is normal, and by his account it's a product of a booming economy. REALLY?
But, my personal favorite, Mr. Hassett stumbled around the true benefits of Trump's recent tax overhaul. And guess what? That fantasy that these corporations would raise wages across the board, is not happening as advertised. In fact, one reporter had a "generous" statistic that 43% of those tax cuts went to corporate stock buybacks and dividend payments, while only 17% went toward wage improvements. It's early so even those numbers may be far too flowery. The truth will be known next year. So, don't be surprised at much higher stock buybacks and dividends reported next spring.
Why am I picking on Hassett? Because he is the poster child for disingenuous insolent self-righteous misrepresentations of the current situation. At its core lies a deliberate narrative of deceit and self-preservation that preys on the innocence of the public. He, and people like him, are not serving the American public, but using their position for self-enrichment and the enrichment of their masters, the banking cartel. This is despicable and intolerable behavior that has no excuse.
In the markets today, it appears that the Plunge Protection Team (PPT) is back at it, trying to defy gravity. The more they rig, the worse it gets. If I didn't know better, it seems like the PPT is reading this blog because every time the technicals show DOWN TREND, magically out of no where tons of money flow into these weak markets. Today, in the last hour of trading, the market began to fade and started selling off. But wait, magically more money shows up in just the last 30 minutes to avoid another red day! Seriously?
Bloomberg now refers to cryptocurrency investing as the "crypto craze". So, does that also mean they are in a "stockmarket stupor"? The propaganda and market rigging WILL end, soon! And when it does, watch how fast these criminals back-peddle or try to explain away their comments. Or maybe, they'll just say nothing and hope you forget how you were conned by the bankers and their corporate media machine. Folks, you have to think for yourself because the establishment is owned by the bankers. We HOPE common sense will prevail for all of you. But, the attack on your mind is never ending. How a person thinks is a powerful quality.
Meanwhile, the US dollar continues to weaken, so the obvious question is "where is all this exuberance coming from?" And, here's the crazy part to this equation. While the FED is selling off ANOTHER $250 Billion in bonds this week, the bond market is UP with yields dropping! These bankers have flooded our economy was massive amounts of cash which is oozing through the stock and bond markets, and will eventually hit the streets of America. So, of course, these talking heads, cheerleaders like Kevin Hassett, are singing the virtues of inflation now. When this cash flood hits the streets, you're going to get inflation like you've never seen before. So, Mr. Hassett was making his move to get "ahead of the issue", because Americans are going get screwed but they'll be happy about it because inflation is good! Right.
By the way, don't think the bankers will spare you when this collapse becomes public. They easily throw their own under the bus as well. Rimsevics, head of the Bank of Latvia, is being accused of bribery in spite his consultations and meetings with the European Central Bank(ECB), he is being made a scapegoat. At this moment, I will bet that behind this scandal is DeutscheBank(DB) and its ugly derivative problem. Keep this issue in sight, it may signal the actual collapse of DB.
All of this market rigging by the bankers and double-talk from government officials is simply criminal. These guys know what is about to happen and they are too cowardly to tell the truth. This scenario is terribly cruel to the hard working people of this world. These bankers and their government minions need to go to jail. (In 2008 , NOT A SINGLE A BANKER WENT TO JAIL.)
People must be held accountable for their actions no matter how nice their suits are!
So, let's take a look at the charts.
This is the NASDAQ chart. Though it remains ABOVE the Trend Line and 50 moving average, it is signaling more weakness to come, with definite resistance at the 7300 level.
And here's the DJIA.
Notice the last few days. STILL below the 50 day moving average, hovering ON the Trend line with weaker volume. But, we'll see how much more the PPT's got. Looking kind of skinny.
BUY BITCOIN or your favorite cryptocurrency while people are sleeping, because when they wake up, watch out!
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