Steal not, print you may have to,...
There's always something wicked about penalising people who do the right things to save those who don't.
Graham Summers
Stocks Retreat… Is It Time to Buy… or Time to Sell?Posted on
May 6, 2020 by
The PhoenixStocks rallied hard yesterday, but failed to break above resistance (red line in the chart below).
This suggests that the rally is tired and due for consolidation. We have had two similar phases since the markets bottomed on March 31
st-April 6
th, and April 20
th-April 27
th (red boxes in the chart below).
The big question for investors is if this is a buying opportunity or the start of a major drop.
Credit suggests it’s a buying opportunity. As long as high yield credit spreads remain above support (blue line in the chart below), the financial system remains in “risk on” mode.
Outside of stocks, it is clear the elites are planing on introducing extraordinary measures to seize wealth and assets from the middle class.
Consider the following…
The U.S. government intends to issue
$3 TRILLION in debt between April and June.Meanwhile, taxes are collapsing as the economy grinds to a halt… and millions of Americans lose their jobs (ADP reports companies laid off 20 MILLION people in April alone).
So where is the money going to come from to finance all of this insanity?
The IMF is calling for nations around the world to introduce a wealth tax of 10% on NET WEALTH as soon as possible?
If you think that’s bad, consider that the Fed plans to both seize and STEAL savings during the next crisis/ recession.
