👉The Stock Market is a House of Cards, The Unemployment Numbers are Inaccurate.

👉The Stock Market is a House of Cards, The Unemployment Numbers are Inaccurate.











The Stock market is a House of Cards, The Unemployment Numbers Inaccurate. Our economy is tanking, and the only thing that has remotely saved it is the $6 trillion stimulus between the FED and Congress. We can't spend our way to prosperity. 7 Millions of Americans could face eviction at the end of July, once enhanced federal unemployment insurance expires and eviction bans across the country lifted. Small businesses have been destroyed, and record bankruptcies are occurring. Trump is going for a $5 trillion budget deficit. He is going to destroy Bush’s record of $1.4 trillion. The unemployment rate is still 12+%, and employers are still laying off people in record numbers. Eighty percent of the jobs that came back were part-time. There are already plenty of negative catalysts. This is the insanity of 1999 or 1929. Short of the Armageddon, what else negative could be happening that is not? The Federal Reserve’s pledge to keep the monetary spigots open for years sent the Nasdaq Composite to a record close. The stock market may be doing well, but the economy is not. Well yes, because of trillions of dollars in bailout, I mean stimulus. It is a gambling Casino with the odds stack against the small guys. That's all unless you get insider tips like other players in wall street. The Fed has to inject TRILLIONS OF DOLLARS just to prop it up. Their balance sheet went from $4 trillion in January to over $7 trillion now, a HUGE increase just to prop up the economy from total collapse. Forty-eight million filings for unemployment were a historical embarrassment, and 10% getting jobs back is wonderful, but 90% are still unemployed. It is the great American COVID 19 party the higher the cases, the higher the stock market goes - I cash out - it is over for me - good luck at the casino as this makes no sense at all. The bureau of labor statistics job reports on July 2 for the month of June was full of inaccuracies and completely out of whack. In other words, completely pumped up to make someone look good and make the markets go up. The jobs report means nothing. We know many who went back to work are again being sent home. The pandemic is worse than it was in March, yet the stock market soars ahead as money goes to the stock market instead of to people who need it. Already at a record rate for bankruptcies, which will rise even more as the virus continues. When the bubble bursts, this one is going to hurt for a long time. The market is drunk, so it will continue to go higher and higher until there is a negative catalyst. But when it shows, the rug is gonna be pulled from the entire market. A stock market with ZERO fundamentals. These indices must be setting record lows but are setting record highs. The Dow is only down 11% from its high this year, even though our economy lost 4.8% GDP in the first quarter and predicted 40% this quarter. Big disconnect. Who knew we could all stay in our homes and get rich in the stock market. Why didn't we do this before? You know how many people are going to be sitting there with their pockets turned inside out in a few months, saying, "why did I not sell?? Was I insane? People are stupid to think the economy is going to recover anytime soon. The stock market was an overvalued house of cards prior to the pandemic, being propped up by corporate buybacks, which accounted for a majority of stocks purchased. Buffett is sitting on $140 billion in cash, waiting for the bottom to fall out of this market. Consumers' drunk thinking jobs will come back, and hence consumer confidence is high. Catalyst will be when free money for unemployed stops and another wave of insolvencies hit that worsens the job market. Although, "the number of unemployed persons who were on temporary layoff decreased by 4.8 million in June to 10.6 million, following a decline of 2.7 million in May. The important stat is that The number of permanent job losers continued to rise, increasing by 588,000 to 2.9 million in June. And once you lose a good job, try to get another equivalent good job, especially if you are over 60 or 70. They need to stop saying jobs were created. It is people returning to work who were laid off. And are probably being laid back off again now. We are still at near Great Depression level unemployment. Losing 7 million jobs, and then getting back 1 million is "jobs data smash expectations! Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to smash that like button. And as You know friends, google has demonetized this channel, so now I rely totally on your donations to keep this channel functional, as you know it takes a crazy amount of research and time to bring you this content on a daily basis, so I hope you consider helping with whatever donation you can afford. Thank You. The markets are always too optimistic and keep sending stocks upward regardless of all the negative news lately, the pandemic, government-imposed shutdowns, and civil unrest. It a distraction from the largest theft in American history! Futures are truly meaningless in this thing that used to be a stock market. I don't trade constantly, no gambling, I usually buy long. I'm staying cautious, I still have cash, and I think I'll be glad I do by the end of the year. If Pandemic cannot be controlled, no amount of Fed’s liquidity will induce net aggregate demand pickup as whether the government mandates shutdown or not, the average person will refrain from spending or going out. Due to COVID, tax collections on corporations and individuals will be way down this year, resulting in a skyrocketing budget deficit on top of a very high national debt. Dollar devaluation and thus sharply higher inflation are becoming more likely, and that would be a shock to the stock market since it would also force up today's super-low interest rates. We may have a deflation instead of inflation. If more than 20 million don't return to work, there will be too many goods and not enough demand. Forbes analysts predict 42% of jobs won't return. Do the math. We have already experienced 48 million new unemployment claims in 15 weeks. However, the continued monetary debasement paradigm of The Fed that reduces the purchasing power of our dollar will ultimately cause real money (gold and silver) to appreciate. I think that we might revisit the stagflationary years of the 1970s, where gold appreciated 2400 percent. Economic mother nature will destroy the dollar. Given the reserve currency status, and considering that world trade has more or less collapsed, trillions of dollars normally used in international trade are no longer required and will be repatriated back to the US. The reserve currency status is the very thing that will collapse the dollar. We didn’t learn squat. Pouring financial liquidity on insolvency just burns money. Then the kicker is the liquidity in the form of additional debt. Stagflation is here. I lived through the 70s and saw the devastation. We need the foreigners to finance our debt. We are screwed if they refuse to buy our T-bonds due to rates that do not cover expected dollar devaluation. Corporate debt levels are also historically very high. Foreign investors will not buy government bonds if the interest rate offered does not keep up with rising inflation or so much debt financing is put on the market that investors will be overwhelmed and thus demand higher rates. The FED wanted to have a good quarter, so they pumped up the stocks to have a great quarter, based on stock price, nothing more. Today, that was not enough. They pumped up the individual Indexes to have record levels. The after hour futures drop probably indicates that they don't want to continue buying stuff at the same rate as they will let it crash next week and blame it on the COVID stuff. Well, COVID was known yesterday, and today, it is the FED buying that changed. Investors right now are determined to see the market go higher. Usually, the market looks ahead and identifies looming problems or opportunities and moves the market ahead of the news. Now the market is ignoring the obvious contradiction to the future, which clearly indicates all these "new jobs" are going right back into the deep freeze until this virus is figured out. The market is going to ignore all the terrible earnings from the fortune 500 and instead look at mid-June's jobs data. The market is going to ignore the fact that after mid-June, massive shutdowns were implemented because of the spike of COVID19 cases. The market is going up, no matter what. It is clearly a bubble, and the only question is, what day will the bubble burst? It's not going to take years like the 2007-2008 crash. It's not just the mortgage industry and home builders that are going to get crushed this time. It is almost everything. Sure Netflix and Amazon will still see massive growth, but bricks and mortar operations will be devastated, and unemployment is going to be much higher than the number we see today from the Trump corrupted administration. I guess real market forces will have to come from outside the US. They were no new jobs created. It was the 5 Million who went back to work. The 20 Million still out of work will lose that $2400 a month Fed's check at the end of July. The Fed can't fix that. That should be just in time for the virus to be completely out of control, again, maybe forcing closures, again, then what? Schools start back up, another spike. 4.8 million went back on the payroll, but 1.51 million new unemployment claims. Jobs are jobs, whether they are old or new. But by my math, we had 3 million before the virus that was unemployed, and we had 48 million new unemployment claims in 15 weeks. And we supposedly had 2.5 million go back to work a while ago and 4.8 million this week, so subtract 7.3 million from 51 million, and the roughly 43.7 million are still on unemployment compensation. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels, I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends!
























Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.