Weekly Update 7.14.17

Adam Taggart
By Adam Taggart on Sat, Jul 15, 2017 - 1:24pm

3 Comments

DavidC's picture
DavidC
Status: Silver Member (Offline)
Joined: Sep 29 2008
Posts: 243
News Update 7-14-2017

Chris,

I really look forward to the weekly news updates, today's being one of your best. I have anger and amazement towards the complete and utter irresponsibility of the central banks and their flip-flopping in order to avoid ANY correction whatsoever.

There WILL be another recession (are we IN a Depression?), the hard data IS bad (witness Friday's figures) and rather than take the fizz out of the markets to give some back up, they continue on their insane pressing on the accelerator even more.

Various people were commenting over the last couple of weeks about why the Fed would QT and raise interest rates into a forthcoming recession. My response has been that the Fed is already behind the curve in raising rates but if it doesn't there will be nothing in reserve (except maybe even more QE and going negative on rates) to prevent an even worse scenario.

Insanity.

Thanks for all the great work you and the team do.

DavidC

mntnhousepermi's picture
mntnhousepermi
Status: Silver Member (Offline)
Joined: Feb 19 2016
Posts: 124
Silicon valley used car prices too

If you read this Chris, I know this isnt as big of a hit as houses, stocks, but  ..... the used car market has also gone crazy in Silicon valley/Greater San Francisco area ! I hadnt realized as I dont help look for cars too often, but one of the young peoples was stolen ( parked overnight in SF) . I have helped car shop for people a fair amount over the years. And, for a bit now, certain brands/models were selling ( private market, not dealer) for a premium over the Keely Blue Book Private party valuation, but not too much, and that was just some models.

Right now, pretty much every one listed on Craigs list is asking more, alot more, more than a thousand more, for a car that is in the 5,000 range. More desireable ones, a few thousand more. So one that maybe should be 8,000 is 10,000. Someone hearing of her plight, said hey I have a 2002 pt cruiser, and it is clean, great, etc.... and I only want ( a number more than 1,000 over a reasonable used value for such a car. This is not one that she would buy in any case, that model at that age, but still shows the trend)

DPriz's picture
DPriz
Status: Member (Offline)
Joined: Jan 12 2016
Posts: 5
Prepared but not frightened!

Very good video. PP gets behind the scenes and makes sense of the garbage we hear from politicians and the media and reveals the true facts, hidden agendas and fake news which is very beneficial. It helps but gets frustrating due to what follows below.

As long as the interest rates stay low or rise very slow, along with everything our politicians are doing along with what the Federal Reserve has done, all that is happening in Europe, the currency wars - all of it is focused on expanding corporate profits and making stocks go up. It has created a super bubble. This works and will continue to work - people have been riding the wave for over eight years now. Until something changes things will remain the same.

I've prepared for a financial crash. Played it safe a couple years ago and missed out on some huge gains. I don't regret it as it had to be done. I remember very vividly the time period of 2007-2010. What everyone said had to be done to correct things, press the reset button, fix things - it would hurt at first but then we could move on and do things right - then none of it was done. What happened was the exact opposite of what they said should be done. In essence, the USA kicked the can down the road and continues to kick the can down the road. Our senior citizens and people that have worked hard and saved got screwed. 

I have seen multiple things in the past three months that have me scratching my head, has me talking to myself, like I did back in 2001 and 2007. Things are way off balance at this time - nonsense, ridiculous how is this happening moments. Things I have never witnessed before. I haven't said it yet - but  I have prepared my friends and family members for when they hear this word - they will know a 50% market correction is near. BOOM!

This bubble will burst this fall. It's been a long wait but the deck is finally stacked up against all that I mentioned in paragraph two.

 

 

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