https://www.howestreet.com/2024/11/fed-rate-cuts-not-lowering-us-mortgage-rates-mark-leibovit/

NEW PODCAST THURSDAY EVENING!

https://tinyurl.com/5dz99ptw

Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people's savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.

~ Ayn Rand

Stocks showed a lack of direction over the course of the trading day on Wednesday, with the major averages bouncing back and forth across the unchanged line following the pullback seen in the previous session.

The major averages eventually ended the day narrowly mixed. While the tech-heavy Nasdaq dipped 50.66 points or 0.3 percent to 19,230.74, the S&P 500 crept up 1.39 points or less than a tenth of a percent to 5,985.38 and the Dow inched up 47.21 points or 0.1 percent to 43,958.19.

The choppy trading on Wall Street came following the release of closely watched consumer price inflation data that came in line with economist estimates.

The Labor Department said its consumer price index crept up by 0.2 percent in October, matching the upticks seen in each of the three previous months as well as expectations.

The report also said the annual rate of consumer price growth accelerated to 2.6 percent in October from 2.4 percent in September. The faster growth also came in line with economist estimates.

Excluding food and energy prices, core consumer prices climbed by 0.3 percent in October, matching the increases seen in each of the two previous months along with expectations.

The annual rate of core consumer price growth was unchanged from the previous month at 3.3 percent, which was also in line with estimates.

While the data increased confidence the Federal Reserve will continue lowering interest rates next month, inflation remaining somewhat sticky led to uncertainty about the likelihood of future rate cuts.

"The 2.6% year-over-year print, while expected, may keep the Fed mindful from declaring victory over its campaign to quell inflation," said Quincy Krosby, Chief Global Strategist for LPL Financial.

CME Group's FedWatch Tool is currently indicating an 82.3 percent chance of another quarter point rate cut in December but a 60.2 percent chance rates will then be left unchanged in January.

Airline stocks saw substantial weakness on the day, with the NYSE Arca Airline Index plummeting by 7.3 percent. The index continued to give back ground after reaching its best closing level in over a year on Monday.

A nosedive by shares of Spirit Airlines (SAVE) weigh on the sector, with the discount airline plunging by 59.3 percent after a report from the Wall Street Journal said Spirit is preparing to file for bankruptcy protection after merger talks with Frontier Airlines (ULCC) broke down.

Significant weakness was also visible among semiconductor stocks, as reflected by the 2.0 percent slump by the Philadelphia Semiconductor Index.

Oil service, steel and computer hardware stocks also saw considerable weakness, while oil producer and retail stocks showed strong moves to the upside.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Wednesday. Japan's Nikkei 225 Index tumbled by 1.7 percent, while Hong Kong's Hang Seng Index edged down by 0.1 percent.

Meanwhile, the major European markets finished the day narrowly mixed. While the U.K.'s FTSE 100 Index inched up by 0.1 percent, the French CAC 40 Index edged down by 0.1 percent and the German DAX Index dipped by 0.2 percent.

In the bond market, treasuries moved modestly lower over the course of the session after seeing early strength. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, crept up 1.9 basis points to a four-month closing high of 4.451 percent after hitting a low of 4.359 percent.

Looking Ahead

Reports on producer price inflation and weekly jobless claims are likely to attract attention on Thursday along with remarks by Fed Chair Jerome Powell.

DOLLAR

CRYPTO

https://www.zerohedge.com/political/what-expect-trumps-first-day-office

Good call Martin!

Trump Wins, Eliminates Federal Income Tax, Economy Booms – Martin Armstrong

Legendary financial and geopolitical cycle analyst Martin Armstrong is back with some important predictions in his last appearance before the 2024 Election.  First, Armstrong’s Socrates computer is still predicting a Trump landslide.  Socrates actually factors in cheating to make this “Trump Wins” call.  Armstrong says, “In the 2020 Election, it came out the computer said it was 50/50.  It did not show a huge landslide one way or another.  They rigged it, but it was in Congress is where they did it. . . . There were seven states that were going to be challenged. . . . On January 6 (during the so-called insurrection at the capitol), the FBI has testified they could not even tell how many people they had there. . . . as soon as this happens, Pelosi calls emergency rules.  When she did the emergency rules, she shut down any challenge to the seven states. . . . That’s how the 2020 Election was really rigged. . . . in 2024, the gap is too big this time.  In 2020, the computer said it was tight.  This one, I don’t think they can cheat that much to actually overthrow it.”

If Trump does win, one of the huge changes going to be pushed is the elimination of federal income taxes.  Let that sink in.  When you hear Donald Trump say he is contemplating doing away with federal taxes, it is not some campaign promise that he intends to break.  Armstrong says this is more than doable.  When Trump says he can fix the economy, Armstrong contends eliminating federal income tax is a turbocharger for the American economy.  Armstrong explains, “If you eliminate the income tax, what will happen is all these other companies that are in different countries are going to want to come here.  It’s going to be the biggest economic boom in absolute history.”

Is this why Trump keeps saying he can “fix the economy”?  Armstrong says, “Oh yes.  The U.S. will make more money than you can ever imagine.  When I testified in front of Congress, I said at least lower the tax rate to 15% on corporates. . . . 15% is what Hong Kong was charging, and that was the only reason people were there. . . . We do not need the income tax anymore because we create money anyway.  We don’t need to get some money back like gold coins from the public so we can pay our bills.  This is an old theory.  So, income tax is something we do not need, and we certainly do not need to borrow anymore.  Our national debt is exploding because of interest expenditures. . . . You eliminate the income tax, and you are going to have the biggest economic boom in absolute history.  You will create so many jobs.  You won’t have to worry about the debt. . . . We would get rid of the debt, and the equity would be private companies.  If you wanted to create your own studio, there would be capital available to do that.”

Armstrong also talks about gold, who is really running the country and extreme civil unrest coming to America after the 2024 Election.

There is much more in the 54-minute interview.

https://tinyurl.com/37ftnauw

NEXT FOMC MEETING:

DEC 18

OPPORTUNITY TO ACCESS MARK LEIBOVIT'S PROPRIETARY VOLUME REVERSAL INDICATOR - THIS IS THE ONLY PLACE TO DO IT!

https://www.metastock.com/products/thirdparty/?3PC-ADD-VRIS

Yes, that's a cartoon of me.  Louis Rukeyser had us dressed up in 'elf' costumes on the screen broadcast each week.  I've dated myself. That occurred for me between 1988-1996.  Lou didn't like any bearish comments, so myself and other elves got dumped in 1996.  

WHO am I?

MARK LEIBOVIT is Chief Market Strategist for LEIBOVIT VR NEWSLETTERS  a/k/a VRTrader.Com. His technical expertise is in overall market timing and stock selection based upon his proprietary VOLUME REVERSAL (TM) methodology and Annual Forecast Model.

Mark's extensive media television profile includes seven years as a consultant ‘Elf’ on “Louis Rukeyser’s Wall Street Week” television program, and over thirty years as a Market Monitor guest for PBS “The Nightly Business Report”.  He also has appeared on Fox Business News, CNBC, BNN (Canada), and Bloomberg, and has been interviewed in Barrons, Business Week, Forbes and The Wall Street Journal and Michael Campbell's MoneyTalks.

In the January 2, 2020 edition of TIMER DIGEST MAGAZINE, Mark Leibovit was ranked the #1 U.S. Stock Market Timer and was previously ranked  #1 Intermediate U.S. Market Timer for the ten year period December, 1997 to 2007.

He was a 'Market Maker' on the Chicago Board Options Exchange and the Midwest Options Exchange and then went on to work in the Research department of two Chicago based brokerage firms.  Mr. Leibovit now publishes a series of newsletters at www.LeibovitVRNewsletters.com.   He became a member of the Market Technicians Association in 1982.

Mr. Leibovit’s specialty is Volume Analysis and his proprietary Leibovit Volume Reversal Indicator is well known for forecasting accurate signals of trend direction and reversals in the equity, metals and futures markets. He has historical experience recognizing, bull and bear markets and signaling alerts prior to market crashes. His indicator is currently available on the Metastock platform.

His comprehensive study on Volume Analysis, The Trader’s Book of Volume published by McGraw-Hill is a definitive guide to volume trading.  It is now also published in Chinese.  Mark has appeared in speaking engagements and seminars in the U.S. and Canada.

FDA-Approved Doesn’t Mean Safe for Your Family

Grant Williams' documentary examining gold price manipulation is posted at YouTube

An hour-long documentary program produced in 2018 by financial letter writer Grant Williams for his Real Vision internet site concentrates on gold price
manipulation and was posted Friday in the clear at YouTube.

The program is Part 2 of "Gold: The Story of Man's 6,000 Year Obsession," and it's still compelling for incisive comments from some major figures in the
gold world, including Brent Cook, Dan Oliver, Egon von Greyerz, Jim Rickards, Luke Gromen, Ned Naylor-Leyland, Rick Rule, Ronald-Peter Stoeferle, Ross
Beaty, Ross Norman, Simon Mikhailovich, and Bernhard Schnellmann.

It can be seen at YouTube here:

https://tinyurl.com/k4vnpjmu

The Walt Disney Company has been criticized (MYSELF INCLUDED) for its "woke" content and has faced backlash from conservative politicians and social media voices. Some of the criticisms include:

  • Donations to LGBTQIA+ organizations

    Some shareholders have argued that Disney's donations to organizations that serve the LGBTQIA+ community are "extreme pursuits" that ignore the beliefs of most Americans.

  • Inclusion of LGBTQ+ characters

    Some critics have taken issue with Disney's inclusion of LGBTQ+ characters and elements in stories, such as a same-sex kiss in Lightyear and a nonbinary character in Elemental.

  • Black Ariel in Little Mermaid

    Some critics have taken issue with the inclusion of a Black Ariel in the recent Little Mermaid.

  • Economic and reputational consequences

    Some claim that Disney's "woke virtue signaling" has had economic and reputational consequences, with Disney's market cap falling nearly 40% since February 2021.

In response to these criticisms, Disney CEO Bob Iger has said that:

  • Disney's biggest priority is entertaining audiences

  • Disney is focused on the future, not the past

  • Disney needs to be more sensitive to the interest of a broad audience

  • Disney's primary mission is to entertain and then have a positive impact on the world through entertainment

I USE JOEL WALLACH'S SUPPLEMENTS EVERY DAY.  MAY AGAIN PROVIDE A LINK TO PURCHASE THEM HERE

COME ON, DAD. IT'S TIME TO EAT

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