The Federal Reserve is not raising interest rates, but now there are hints by Fed Head Janet Yellen that it might consider negative interest rates if the economy gets bad enough. The economy is already bad, and the Fed decision to keep a key rate near 0% says it all. I have been telling you for a couple of years that there is no real recovery on Main Street. The only real recovery is on Wall Street. Data point after data point shows the economy is not good. This is why the Fed is not raising interest rates.
On top of that bad news, people like Nobel Prize winning economist Professor Robert Shiller continue to warn that the stock market looks like it is in a bubble. There are also reports of the biggest double top in stock market history that was recently made, and when that happens, it is downhill for the markets. This includes the global debt market that dwarfs the stock market by orders of magnitude. I just interviewed former Reagan White House Budget Director David Stockman, and he says the “financial system is booby trapped with debt bombs.” This is not if the bond market will blow up, but only a matter of when the bond market will blow up.
CNN was the only real loser in the second GOP debate. The debate started out looking like CNN just wanted the candidates to trash Trump. It looked juvenile and petty, and even NJ Governor Chris Christie called BS on the BS when he directed the discussion back to how the GOP was going to help the struggling middle class. Trump won the debate by virtue of the fact CNN centered it on him and tried to get the other candidates to tear him down. Sure, there were candidates that had their moments, and some will move up and down in the polls, but Trump still emerges as the front-runner. Let’s make this perfectly clear, Donald trump could win it all.
Join Greg Hunter as he talks about these stories and more in the Weekly News Wrap-Up.