Is The Middle Class About To Get Another Full And Complete Shearing? By Gregory Mannarino
At the time I am writing this article, the stock market is remaining in a free fall with the Dow Jones industrial average down more than 240 points.
The financial sector, the banks are being especially hit hard with Morgan Stanley down more than 5%, Goldman Sachs down more than 4%, and J.P. Morgan down 3%
Gold is surging higher, Silver is also higher, cash is surging into the perceived safety of Bonds, and the US dollar continues it's hard sell off.
I find the price action with regard to the banks selling off along with the dollar especially disturbing in this environment, and this is something we need to pay attention to again-echoes of the 2008 melt down.
It is my opinion that the middle class is about to receive a full and complete shearing as the inflated housing market, and stock market correct to fair value.
Is this the beginning of yet another engineered melt down?
What's your opinion?
Gregory Mannarino
Another great dose of honesty. Your on a very short list of people I depend on for reliable information. Thanks, Greg
Thank you for saying this.
Knowledge is power!!!!
👍
I have paid thousands for services and never made money. With Greg I've done much better and I also understand the markets much better than all those years of paid services. And to think Greg does this out of the goodness of his heart.
Congratulations @marketreport!
Your post was mentioned in my hit parade in the following category:
I think we should start running for the hills now while we still have a chance. lol. honestly the U.S. needs an entire economic reform and revive because were headed directly for a point of no return. its so sad to see our beautiful country go down the drain due to a lack of responsibility, duty, honor, respect, moral values, corruption, hate, greed, and political warfare. The trump factor just makes everything worse.
The globalists and their liberal media stooges are trying so hard to get President Trump tied up in phony scandals so that his pro America, pro growth agenda does not go forward.
But trump is very brilliant almost on a genious level. I wouldnt exactly underestimate him and what he can do.
I'm beginning to question whether or not he is a good guy or bad guy. At the core of the globalist agenda is keeping us guessing and totally stressed out 24/7. They're doing a good job.
The liberals hate him..
The globalists hate him..
That means Trump is a good guy !
I think that remains to be seen; in my house, we think he might be here just for the last pump n dump
I pray its not all an act
I'm no Hillary fan but let's not forget he was a choice that was "given" to us.
Hello: I also supported him all the way 100%. That being said he is giving me reasons to be nervous.
Like you I have this question having supported him by following everything he did and watching the Clintons as well. I really have to say here from overseas our national TV isn't reporting what I see coming from the White House having seen bits and pieces of what Mr Trump and his team are trying to do.No doubt every president has made suggestions to their law enforcement agencies and this doesn't influence the economy just look at the British Government and House of Cards scenario and Yes Minister it is very close to the truth. Obscuring the truth is what the swamp wantsand they DON'T Want to leave the SWAMP.
Thanks for posting! Unfortunately the Swamp looks as though it may stay in control and is basically running many countries not just the US.
I'd also not underestimate what the elites can do either.....Is impeachment coming?
lol. crap. i think so.
He's the right person for this job, no nonsense, well meaning, tough , good negotiator and know's how to handle bankruptcies.
No need to run for the hills yet. This is just a test run to see how or if people keep buying into this program. My best guess is we are still buying into their programing. Ouch.
Yes, go to the hills. But there is no need to run. Just prepare yourself, take a long breath, and start just walking. For the last 4 or 5 years I found the company of Gregs: Greg Hunter and Gregory Mannarino. Since then, I'm preparing. Things are getting worst ( I'm unemployed now) but "The Big One" still doesn't happen and I believe it would take some time. Lots of triggers happened, as stated by Michael Maloney ( Everything Bubble), so it is still some hope. I hope!!!
I think we're past the point of no return and the big rig is coasting uphill on momentum.
Thank you Greg...you turned me onto Steemit!
Pretty awesome, Greg has not made me rich, but he has helped me make more money than any other person or system out there... and his mentoring is free.
Me too. Greg is ahead of the game. Steemit is awesome. I'm totally done with Facebook.
Me too actually..
I never joined! did not like the business model- rifling my info for their profits
Some possible explanations that may be catalysts for the market move:
Peter Boockvar sees shifts in the monetary policy as the main drivers.
German ZEW index which measures German investor confidence in the German economy rose to 20.6. ...since August 2015...The prospects for the eurozone as a whole are gradually improving...EU Trade Surplus...
Whole Article:
http://kingworldnews.com/here-is-what-is-pushing-the-gold-silver-markets-higher-today/
Looks like the confidence in the dollar is dipping:
Jason Goepfert at SentimenTrader: People are starting to give up on the idea of a strong dollar.
Not coincidentally, that’s also about when web searches for a “strong dollar” were reaching a fever pitch.
Whole Article:
http://kingworldnews.com/look-at-whats-going-on-with-the-dollar-and-how-it-will-impact-gold-silver/
China is mentioned again to create a new Global Monetary System.
I belive it is. Eventually there will not be a middle class. All the mainstreem is blaming it on trump. I say let it fall and where it lands it lands. Thanks for the info and your daily hard work. We all appreciate the info.
Thank you.
What i cant belive is how silver is just hovering around its open price. This should be way up with whats going on
Beautiful !
The paper to physical ratio right now for silver is a whopping 517:1 !!
https://srsroccoreport.com/paper-vs-physical-the-amazing-amount-of-leverage-in-the-silver-market/
Gold moved up nicely today while Silver was taken to the woodshed twice. look at that Globex open totally insane. Clubbed like a Saskatchewan baby seal. What a rigged joke...
Yeah, I think it was Bill Holter who said silver was the line in the sand, when it goes, that's it. They'll do anything they can to keep that from happening.
I agree!!!
Agreed but as we all know, silver is manipulated and such will not move unless they make it move!!!
They will eventually loose there hold on silver and at that point you will be in for a treat
Interesting pattern today which started developing since yesterday evening actually. Stocks have broken the support and gold and silver have broken the resistance. Dollar continues to drift lower. I have written a couple of blogs on these topics since yesterday in an attempt to wake up a few people who can be woken up, please do check it out and comment.
Food for thought from a writer for Activist Post.
Cyber Attacks Are The Perfect Trigger For A Stock Market Crash
Brandon Smith | Activist Post
May 17, 2017
http://www.activistpost.com/2017/05/cyber-attacks-perfect-trigger-stock-market-crash.html
It should be noted that the Ransomware attacks which struck systems around the world used “WannaCrypt,” derived from an NSA exploit called “Eternalblue.” This program was designed to specifically target Microsoft Windows machines, no doubt using vulnerabilities which Microsoft ENGINEERED into their own software.
Something else that is very interesting about Eternalblue — as CNN notes, similar exploits were used not long ago by the NSA to get backdoor access to financial data within the SWIFT banking system.
This begs the question — how much of the global banking system and global stock exchanges are open to attack with these same NSA exploits. I would suggest that ALL of them are.
Didn't a market analyst on YouTube say that the system would go kaput by June? I can't remember who it was though...
DOW -310
Yep I go into the next step of the process right here in this post https://steemit.com/politics/@sinned/why-should-you-stay-neutral-quote-for-the-times