Yesterday, the Dow closed down 510 points, gold prices fell $38 closing at its lowest level since late July, and oil tanked 2.6 percent.
The S&P fell 1.2 percent, and the tech-heavy NASDAQ fell 14.48 points.
The fear there won’t be another money pumping stimulus from Washington before the election and fears of a second wave of the corona virus were the reasons the business media gave for the declines.
Yesterday, the S&P was down 8.4 percent from its 2 September record-breaking high, and the Nasdaq Composite Index, down some 10 percent, is floating in correction territory.
Today, they rebounded, with the Dow up 140 points, the S&P 500 closed up 1.1 percent, and the Nasdaq rose 1.71 percent.
Regardless of where the markets are, there is a total disconnect between Wall Street and Main Street.
In this issue is Gregory Mannarino’s new article, “THE MARKETS, THE GOVERNMENT & THE FED: A CRIME IN PROGRESS,” where he explains how the middle class is being robbed of trillions of dollars right before everyone’s eyes.
Also in this issue is Gerald Celente’s Urgent Trend Forecast, “THE COVID WAR IS KILLING US,” exemplifying how the world is heading toward socioeconomic and geopolitical devastation unprecedented in written history.
As we have long noted, politicians have an unblemished track record of starting wars with no exist strategy (i.e. the U.S.-Afghan war 19 years and losing)… and they have no exit strategy to end the COVID War.
Across the economic spectrum, as Celente wrote, “Travel, tourism, hospitality, restaurant, retail, entertainment, trade shows, conventions … from weddings to funerals, and all the related industries that serve them, economic decimation.
Indeed, unless people unite to end the COVID War and restore business and personal freedom, socioeconomic and geopolitical conditions will rapidly deteriorate.
Dollar Up, Gold Down?
Until last week, the dollar was trading at a two-year low, with expectations from mainstream economists it would drift lower. The lower the dollar and interest rates fall, the more investors move toward gold as a safe-haven asset.
However, with no new plans announced for Washington to pump more cheap money into the failing economy, the dollar neared a two-month peak and gold prices sank to its lowest price in two months.
TREND FORECAST: The word on The Street is turning bullish on the dollar with expectations it will maintain its strength and gold prices will continue to fall… into the $1,700 range.
We disagree. The dollar is strong only because other currencies are very week. Nations around the world are lowering interest rates and printing more money, thus devaluing their currencies.
With the U.S. budget deficit tripling this year to $3.3 trillion, soaring to the largest percentage of GDP since 1945, any rise in dollar value is temporary.
