President Trump, on Friday, signed a Congressional stopgap funding bill to keep the government open until May 5th.
Meanwhile the mainstream media continues to ignore the fact that a government shutdown is at hand, choosing instead to bash away at Trump's first 100 days and to run fake left-leaning Gallup polls and fake left-leaning PolitiFact blog articles. PolitiFact is owned and funded by groups with ties to the Democrat party. Here is PolitiFact stroking Nancy Pelosi: http://www.politifact.com/truth-o-meter/statements/2017/apr/28/nancy-pelosi/nancy-pelosi-target-about-what-donald-trump-might-/ Where was PolitiFact, fact checking Nancy Pelosi's many lies like her insider trading in an IPO she favorably voted on?
A weekly Saturday financial show that attempts to predict market direction for the week ahead by looking at a variety of fundamental and technical charts. This week's show features commentary on the Federal Reserve raising the time table for reducing their balance sheet, the surge higher in commercial bankruptcies, the plunge in Wells Fargo's home mortgage loans, the state of California laying off 1,750 teachers, John McCain's insane war rants, the false flag in Syria and Trump's missile strike, Russia's growing anger against the United States and what it's doing in retaliation for the unconstitutional Syria strike, Trump reversing himself on many issues that were central to his campaign, and more.
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Before you dismiss this as just another gold/silver bug predicting gloom and doom so that they can profit, consider Caterpillar's recent announcement that they are closing their Chicago plant and cutting 800 jobs along with it.
Caterpillar make's large construction equipment and they've been struggling for a few years now. How can the companies that produce construction machines be going out of business when according to Janet Yellen the economy is getting stronger? Silver Report did a show discussing Caterpillar and the disconnect between soft data and hard data and makes some excellent points IMO.
It's not being discussed much in the financial media about what the Fed said last week. The Fed said it would reduce its balance sheet and the previous plan was a reduction by 2021. What the Fed statement made clear last week is that the reduction of the Fed balance sheet will happen much sooner, starting in 2017. This was not something that was suppose to happen until 2018.
Now that troubling part is if you chart the Federal Reserve's balance sheet with the S&P 500, it's clear that the Fed was responsible for propping up the market and keeping this bull run going for some 8 years now. So when your 401k advisors show you a chart of the S&P 500 going up since the 2009 recession, what they aren't showing you is that the upward move was largely from the Federal Reserve stepping in to the open markets and making large asset purchases. In other words, the stock market's been on life-support all these years. You would get a completely different perspective of the bull rally since 2009 if you knew this one little important bit of information.
The danger is that most people are unaware that the Fed has been propping up the stock market for all these years. Most people think that the stock market has just been going up because the economy is getting stronger. Most people have no clue and have never seen the chart above. That's a dangerous combination folks because when the Fed starts unwinding its $4.4 trillion balance sheet the stock market will likely go down and most amateur traders have no idea what's coming.