CELENTE: There's No Debate, Main Street Completely Detached from Wall Street
We maintain our trend forecast that equity markets will continue their slide for the rest of the month and into October.
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As we have long forecast, the facts and data on Main Street mean nothing to the equity market gamblers that the mainstream business media call “investors.”
For example, while they pump up the fraud that the U.K.’s economy is strong and inflation is rapidly falling, its job market keeps falling.
Ratcheting up a reading of 95.89, the lowest score since 2013, it has declined for the past 14 months and the number of people signing up for unemployment benefits in August hit the highest level since December 2021… which was the height of the COVID War lockdowns.
And, as we had forecast for much of Europe, the economic growth that the bloc did have was summer tourism, which meant businesses and consumers spent more freely… and at the same time went deeper into debt.
On the other side of reality is the Office Building Bust and the Banks that will go Bust as office building owners default on their loans… and it’s global as we, again, detail in this week’s Trends Journal and numerous previous issues.
With very few exceptions, the business news media is nothing more than a clown show of crap. Pick up the business section of The New York Times and look at the stupid picture of nothing that fills up half the front page: In 9 Days, Trump Can Sell the Stock Bearing His Name
And there stands a stupid-looking picture of Donald Trump.
Newspaper after newspaper, from top to bottom, from beginning to end, filled up with stupid huge photos of nothing.
Why?
Because journalism is dead and they are nothing more than low-life Presstitutes—media whores who get paid to put out by their corporate pimps and government whore masters—that sell worthless bullshit because they don’t know dick about shit of what in the world is going on and how the current events are forming future trends.
Need More Proof?
Today, JPMorgan Chase shares fell 5 percent as they warned of not-so-great times ahead. Hitting a low of down 7 percent earlier in the day, it was the steepest dive since the COVID War 2020 slump.
This is the same JP Morgan Chase that Wall Street on Parade said “admitted to its fourth and fifth felony counts on September 29, 2020 that involved ‘tens of thousands’ of episodes of unlawful trading in the markets for precious metals futures contracts” and “‘thousands of episodes of unlawful trading in the markets for U.S. Treasury futures contracts and in the secondary (cash) market for U.S. Treasury notes and bonds,’ according to the Justice Department. The bank agreed to pay $920 million in fines and restitution to various regulators. It was given another Deferred Prosecution Agreement and put on probation for the third time.”
Google “convicted of five felonies JP Morgan Chase” and this is what comes up: “JPMorgan Chase has hired thousands of people with criminal backgrounds, including ex-felons, and supports policies to increase hiring for people with arrest or conviction histories.”
Got it? And they are not alone… from Bankster to credit card bandits, the numbers are down. Today, Goldman Sachs and Capital One’s stocks fell more than 3 percent while KBW Bank Index slumped nearly 2 percent.
And while business media reports on the decline in the Banksters’ stocks, not a peep about the Office Building Bust that is going to cause the Banks to Go Bust. Again, we have greatly detailed these facts in this and previous Trends Journals.
TREND FORECAST: We maintain our trend forecast that equity markets will continue their slide for the rest of the month and into October. What can change that trend is if the U.S. Federal Reserve announces it will lower interest rates 50 basis points next Wednesday. That will, again, artificially prop up equities which they may well wish to do to keep their former Fed-Head Janet Yellen who is now the U.S. Treasury Secretary in power.