Month: January 2023

31
Jan
2023

Few Things Destroy an Investor’s Portfolio Like This

By Graham Summers, MBA

Stocks are now in a strange time in which they do not perceive any major threats.

As a result of this, the bulls are buying stocks based on the usual “the Fed is about to pivot” nonsense. And they’re in for a world of pain.

Last year (2022) the big threat was inflation. Inflation, combined with the Fed tightening monetary policy, forced Treasury yields higher. With yields hitting 4% or higher in some cases, stocks were no longer as attractive as an investment class. So the stock market was repriced downwards from 20-22 times forward earnings to 16-18 times forward earnings.

However, as the above chart shows, since October 2022, Treasury yields have stabilized. With yields no longer rising, the threat of inflation has “disappeared” as far as stocks are concerned. And so investors have begun pouring back into the stock market based on the hope that the Fed will soon end its monetary tightening.

This is horribly misguided. Few things destroy an investor’s portfolio like buying stocks during a recession based on hope that the Fed will start easing monetary policy. And rest assured, the same bond market that told us inflation was out of control, is now telling us that a recession has arrived.

So what happens to stock bulls who buy stocks going into a recession? Well, the last two times, stocks did this:

In simple terms, the markets are setting up to deal out a load of pain to stock market bulls in the coming weeks. 

But you don’t need to be one of them!

If you’ve yet to take steps to prepare for what’s coming, we just published a new exclusive special report How to Invest During This Bear Market.

It details the #1 investment to own during the bear market as well as how to invest to potentially generate life changing wealth when it ends.Paragraph

To pick up your FREE copy, swing by:

https://phoenixcapitalmarketing.com/BM.html

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Posted by Phoenix Capital Research in stock collapse?
27
Jan
2023

Forget the Forecasts, This Chart PROVES Inflation Won’t Disappear Anytime Soon

By Graham Summers, MBA

If you want to find out what is causing inflation… and why it won’t be going away anytime soon no matter what the Fed does, look no further than the below chart.

This is a chart of government spending since 2013. As you can see, government spending was in a clear trend right up until the pandemic, at which time it went absolutely bonkers.

Now, according to the economic data, the recession triggered by the pandemic ended in June 2020. And yet, both the Trump and the Biden administrations continued to spend at a pace FAR exceeding the historic trend.

How much exactly?

Some $20 TRILLION, or roughly 87% of U.S. GDP. 

Bear in mind, we’re not talking about $20 trillion in total spending… we’re talking about $20 trillion in ABOVE-trend spending by the government. 

Even worse, there is no sign that this above-trend spending is slowing down. If anything, it’s starting to accelerate again.

So, the Fed can raise rates and shrink its balance sheet all it wants. It won’t accomplish much while the government is pumping an extra $1+ TRILLION in above-trend spending into the economy every single year. 

And rest assured, this spending isn’t going into productive endeavors. It’s going into paying people not to work, boondoggles, and various inflationary schemes.

Want to end inflation? Stop overspending and printing money. It’s really quite simple. 

On that note, we published a Special Investment Report concerning FIVE secret investments you can use to make inflation pay you as it rips through the financial system in the months ahead.

The report is titled Survive the Inflationary Storm. And it explains in very simply terms how to make inflation PAY YOU.

We are making just 100 copies available to the public.

To pick up yours, swing by:

https://phoenixcapitalmarketing.com/inflationstorm.html

Best Regards,

Posted by Phoenix Capital Research in Inflation
26
Jan
2023

The Fed’s Worst Nightmare (a Wage Spiral) Has Officially Arrived

By Graham Summers, MBA

We’ve spent quite a bit of time analyzing the inflation situation in the U.S. lately.

By quick way of review:

  1. The only inflationary data that has dropped is in the energy space (that and used cars).
  2. The only reason energy prices have dropped is because A) China was in lockdown for Zero Covid and B) the Biden administration dumped 250 million barrels of oil onto the market.
  3. Both A) and B) are over. China has reopened and the Biden admin has already depleted the U.S.’s emergency stash of oil by 40%… as a result of this oil and gasoline prices have bottomed and begun turning upwards again.

All of the above signal that inflation has “not peaked” no matter what the media claims. Indeed, if the latest news is anything to go by, inflation has now become fully entrenched in the financial system.

Welcome to the wage spiral in the U.S.!

The first signs of this appeared during the rail worker deal the Biden administration signed into law. Nestled amongst the various details of the deal was a 24% pay increase from 2020 through 2024 as well as immediate payouts of $11,000.

Bear in mind, this is a 24% pay increase that was signed into law in at the end of 2022. So, the 24% pay increase would actually be over the next two years, or 12% per year.

This is not an isolated incident either.

Wal-Mart, the single largest private sector employer in the U.S. (and the world) just announced it is raising its starting wage by 17%.

These are not small increases. And they indicate a wage spiral is beginning in the U.S.

Why does that matter?

A wage spiral is the Fed’s worst nightmare because there is NO easy solution. The only thing that can stop it is a SEVERE recession that features mass layoffs and a sharp rise in unemployment.

So we can all kiss that “soft landing” narrative good bye.

On that note, we published a Special Investment Report concerning FIVE secret investments you can use to make inflation pay you as it rips through the financial system in the months ahead.

The report is titled Survive the Inflationary Storm. And it explains in very simply terms how to make inflation PAY YOU.

We are making just 100 copies available to the public.

To pick up yours, swing by:

https://phoenixcapitalmarketing.com/inflationstorm.html

Best Regards,

Posted by Phoenix Capital Research in Inflation
25
Jan
2023

This is the #1 Reason the Fed Will Be Forced to Crash the Markets Soon

By Graham Summers, MBA

Yesterday I illustrated how the “inflation has peaked” narrative is a myth.

By quick way of review:

  1. The only inflationary data that has dropped is in the energy space (that and used cars).
  2. The only reason energy prices have dropped is because A) China was in lockdown for Zero Covid and B) the Biden administration dumped 250 million barrels of oil onto the market.
  3. Both A) and B) are over. China has reopened and the Biden admin has already depleted the U.S.’s emergency stash of oil by 40%.
  4. The markets are confirming this, with both oil and gasoline prices bottoming in the last two months. 

Today we’re talking about another type of inflation: asset price inflation, specifically financial conditions.

Fed Chair Jerome Powell has stated multiple times (most recently on December 14th 2022) that the Fed focuses on financial conditions.

See for yourself.

With that in mind, it’s worth noting that financial conditions are now the easiest they’ve been in nearly a year. To put that into perspective, it means financial conditions are back to where they were BEFORE the Fed ended QE and began raising interest rates.

Anyone who thinks the Fed won’t notice this is out of his or her mind. And it only confirms that inflation is not gone in any meaningful way. If anything, we’re in the midst of a resurgence courtesy of energy prices and investors pouring into stocks again.

On that note, we published a Special Investment Report concerning FIVE secret investments you can use to make inflation pay you as it rips through the financial system in the months ahead.

The report is titled Survive the Inflationary Storm. And it explains in very simply terms how to make inflation PAY YOU.

We made 100 copies available to the public.

Today is the last day this report is available to the general public.

To pick up yours, swing by:

https://phoenixcapitalmarketing.com/inflationstorm.html

Best Regards,

Posted by Phoenix Capital Research in Inflation
24
Jan
2023

I Sincerely Hope You’re Not Falling For This

By Graham Summers, MBA

The longer I’m in this business, the clearer it becomes that no one actually reads anymore. Everyone simply trumpets headlines, or retweets articles, without looking at the data.

The latest and most glaring example of this is the claim that “inflation has peaked.” Everywhere you look in the media (and on social media) people repeat this statement as if it is a fact.

It is not. Inflation has not peaked. And the data confirms this.

Almost ALL of the drop in inflation data has come from energy prices falling. And energy prices have fallen because the Biden administration dumped over 250 MILLION barrels of oil from the Strategic Petroleum Reserve (SPR).

To put this into perspective, it’s nearly 40% of the SPR. And the Biden admin dumped it in the span of less than two years. THAT is why energy prices dropped, which accounts for almost ALL of the drop in inflation data.

See for yourself. Outside of the drop in energy prices, the only significant drop in prices occurred in used car vehicles. Everything else is still RISING in price year over year.

I bring all of this up because now that the Biden admin is no longer dumping tens of millions of barrels of oil on the open market, energy prices are bottoming.

Oil has bottomed and is starting to turn up.

The situation is even uglier for gasoline.

So, unless President Biden wants to empty the SPR to zero, this “inflation has peaked” narrative is over. Inflation is coming back in a big way. And NO ONE is positioned for it.

On that note, we published a Special Investment Report concerning FIVE secret investments you can use to make inflation pay you as it rips through the financial system in the months ahead.

The report is titled Survive the Inflationary Storm. And it explains in very simply terms how to make inflation PAY YOU.

We made 100 copies available to the public.

Today is the last day this report is available to the general public.

To pick up yours, swing by:

https://phoenixcapitalmarketing.com/inflationstorm.html

Best Regards,

Posted by Phoenix Capital Research in Inflation, stock collapse?
19
Jan
2023

The Next Major Threat to Your Portfolio Just Arrived

By Graham Summers, MBA

The data is finally beginning to register that a recession is at hand.

I’ve been forecasting that the U.S. economy was in recession back in November. Leading indicators and the bond market made this clear. 

The yield curve has accurately predicted every recession since 1982. And it was SCREAMING that a recession was about to hit in the U.S. since mid-2022. As you can see in the chart below, the yield curve was more inverted than at any point in the last 40 years.

However, a big problem with economic forecasting is that most data sets are backwards looking. So often times you don’t get actual data telling you that a recession has arrived until the economy is already several months into the recession.

And the stock market pays attention to economic data, NOT leading indicators.

I mention all of this because the recession that I’ve seen unfolding since November is finally showing up in the economic data. Yesterday, the Commerce Department released a number of data series that were HIGHLY recessionary. 

Retail Sales clocked in at -1.1% Month over Month. Similarly, Industrial Production came in at -0.7% Month Over Month while Manufacturing Production registered -1.3% Month Over Month. 

Bear in mind, these are the data points for December. So, this is what was happening in the economy a month ago. And bear in mind, the Month Over Month numbers are a comparison between December and November. So, the downturn actually started more than seven weeks ago. 

This is why stocks took it on the chin and bonds caught a bid yesterday. And judging by yesterday’s data, this process is just getting started.

And remember what happened to stocks during the last two major recessions in 2000 and 2007.

If you’ve yet to take steps to prepare for what’s coming, we just published a new exclusive special report How to Invest During This Bear Market.

It details the #1 investment to own during the bear market as well as how to invest to potentially generate life changing wealth when it ends.Paragraph

To pick up your FREE copy, swing by:

https://phoenixcapitalmarketing.com/BM.html

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Posted by Phoenix Capital Research in stock collapse?
18
Jan
2023

Buckle Up, the Bond Market is About to Break a Major Central Bank

By Graham Summers, MBA

The situation in Japan is worsening.

As I’ve outlined before, Japan is the grandfather of monetary policy insanity. The Fed first introduced Zero Interest Rate Policy (ZIRP) and Quantitative Easing (QE) in 2008.

The central bank of Japan, the Bank of Japan or BoJ introduced them in 1999 and 2001, respectively. And since that time, it’s NEVER been able to normalize monetary policy. Indeed, the longest the BoJ has even managed to tighten monetary conditions in 20+ years is a mere 14 months. 

Put simply, Japan has been dealing with extraordinary monetary policy for an entire generation: 25 years. Along the way, the BoJ has launched: 

1)    Negative interest rate policy (NIRP), through which it charges lenders to lend it money.

2)    A single QE program equal to 25% of Japan’s GDP (in 2013).

3)    Unlimited QE in the form of yield control, through which it prints money and buys Japanese Government Bonds any time said bonds’ yields begin to rise above a certain level.

We are in the process of watching #3 blow up today.

Initially, the BoJ, wanted 10-Year Japanese Government Bond yields to remain at 0%. However, once inflation arrived, the BoJ found itself printing so much money to defend that level, that it was forced to raise its yield target to 0.5%.

And that’s when all hell broke loose. The bond market is repeatedly testing the BoJ’s resolve, with yields rising above 0.5% time and again. To counter this, the BoJ is being forced to launch previously unscheduled QE programs on a near daily basis.

Friday and Monday alone, the BoJ spent $78 BILLION. And bond yields STILL rose above its desired level of 0.5%.

Something is about to break here. The BoJ just announced that it won’t be changing its policy despite the obvious signs that it is losing control of its bond market.

Put another way: we’re about to find out what happens when a bond market breaks a major central bank. Think of the 2023 crisis for Italy and Spain… only with the world’s THIRD largest economy and third most used currency. 

As I keep stating, the Great Crisis… the one to which 2008 was a warm-up, has finally arrived. In 2008 entire banks went bust. In 2023, entire countries will do so.

If you’ve yet to take steps to prepare for what’s coming, we just published a new exclusive special report How to Invest During This Bear Market.

It details the #1 investment to own during the bear market as well as how to invest to potentially generate life changing wealth when it ends.Paragraph

To pick up your FREE copy, swing by:

https://phoenixcapitalmarketing.com/BM.html

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Posted by Phoenix Capital Research in stock collapse?, The Everything Bubble
17
Jan
2023

Why Japan’s Bond Market Could Make or Break Your 2023 Returns

By Graham Summers, MBA

Japan’s central bank, the Bank of Japan, or BoJ, is beginning to lose control of its financial system.

The BoJ is the grandfather of monetary insanity. The U.S.’s Federal Reserve (the Fed) first introduced Zero Interest Rate Policy (ZIRP) and Quantitative Easing (QE) in 2008.

The BoJ introduced them in 1999 and 2001, respectively.

Since that time, the BoJ has NEVER been able to normalize monetary policy. The longest it managed to tighten financial conditions without having to reverse and start easing again was a measly 14 months.

So we’re talking about 20+ years of loose monetary policy or a slow-motion nationalization of Japan’s financial system. The BoJ has bought so many assets during this time that today it:

1) Owns more than half (50%) of all Japan Government Bonds outstanding.

2) Owns more Japanese stocks than any other entity (country or institution) in the world.

3) Is a top 10 shareholder in 40% of Japan’s publicly listed companies.

4) Has a balance sheet that is equal to 92% of Japan’s GDP.

Having spent 17 odd years printing money and buying assets with little success in creating economic growth, in 2016, the BoJ attempted a new kind of policy: Yield Curve Control (YCC).

In its simplest rendering, the BoJ stated that anytime the yields on Japanese Government Bonds rose above a certain level (0% for the 10-Year Government Bonds), the BoJ would print new money and use it to buy bonds until the yields fell back to the desired range.

This was an open-ended, unlimited form of QE. And the BoJ maintained it for six years straight until inflation finally appeared in the financial system.

And that’s when things started to break: the Yen collapsed to a 35 year low.

At this point, the BoJ had a choice: defend its currency or continue defending its bonds.

The BoJ chose to defend the currency by RAISING the target yield for 10-Year Japanese Government Bonds from 0% to 0.5%. This was an implicit admission that it would print less money defending bonds. And it’s why the Yen began to rally in late 2022 (see the large bounce in the chart above).

Unfortunately, that’s the end of the good news. The bond market has begun testing the BoJ’s resolve, with the yields on Japanese Government Bonds rising above the BoJ’s target repeatedly. Things have begun to spiral out of control to the point that the BoJ is being forced to intervene on a near daily basis to try and stop the bond yields from soaring higher.

The BoJ is now in a corner. If it keeps printing money to defend bonds the Yen collapses making inflation worse. And if it doesn’t print money to defend bonds the bond yields soar and Japan becomes insolvent (unable to make debt payments).

As I keep stating, the Great Crisis… the one to which 2008 was a warm-up, has finally arrived. In 2008 entire banks went bust. In 2022, entire countries will do so.

If you’ve yet to take steps to prepare for what’s coming, we just published a new exclusive special report How to Invest During This Bear Market.

It details the #1 investment to own during the bear market as well as how to invest to potentially generate life changing wealth when it ends.

To pick up your FREE copy, swing by:

https://phoenixcapitalmarketing.com/BM.html

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Posted by Phoenix Capital Research in Debt Bomb, The Everything Bubble
10
Jan
2023

Is the Worst Over For This Bear Market?

By Graham Summers, MBA

In 2022, the Everything Bubble burst courtesy of the inflation created by over $8 trillion in Fed and Federal government money printing. 

As I outlined in my best-selling book, The Everything Bubble: the Endgame for Central Bank Policy, the Fed created the Everything Bubble when it attempted to corner the U.S. Treasury market in the aftermath of the Great Financial Crisis.

Treasuries are the bedrock of our current financial system, and their yields represent the “risk free” rate of return against which all risk assets (stocks, bonds, real estate, etc.) are priced. So, when the Fed created a bubble in Treasuries via Zero Interest rate Policy (ZIRP) Quantitative Easing (QE), it ended up creating a bubble in EVERYTHING.

So, it’s no small irony that the Fed and its absurd money printing from 2020-2021 was what unleashed inflation, which burst this bubble. You see, Treasury yields don’t just trade based on Fed intervention. They also trade based on economic growth as well as inflation. 

So once inflation ignited in 2021, U.S. treasury yields broke out of their 35+ year downtrend.

Remember, when I wrote that the yields on these bonds represent the “risk free” rate of return against which all risk assets, including stocks, are valued? Once Treasury yields started rising, stocks were soon repriced much lower to account for this. The S&P 500 ended 2022 DOWN 19%, making it the seventh worst year for stocks since 1920.

Which brings us to today.

The single most common question my clients are asking is if “the worst is over” for this bear market.

To answer that, we need to determine the answers to two other questions:

1)    Has the Fed managed to kill inflation?

2)    Will the U.S. economy experience a soft landing as opposed to a severe recession?

I’ll delve into those tomorrow. In the meantime if you’ve yet to take steps to prepare for what’s coming, we just published a new exclusive special report How to Invest During This Bear Market.

It details the #1 investment to own during the bear market as well as how to invest to potentially generate life changing wealth when it ends.

To pick up your FREE copy, swing by:

https://phoenixcapitalmarketing.com/BM.html

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Posted by Phoenix Capital Research in stock collapse?, The Everything Bubble
05
Jan
2023

Why Investors Should Be Praying For a Stock Market Crash

By Graham Summers, MBA

Investors should be praying for a stock market crash.

From a systemic perspective, the markets have entered a period of “risk off”. This has been the case since March of 2022. And the single best thing for investors would be for the markets to get this situation over with quickly via a crash.

Yes, I am fully aware that crashes are extremely painful and involve investors losing a lot of money. However, when the markets crash, they also bottom quickly, which means the pain is over FAST.

Consider the 2020 Crash: the entire collapse was over in about five weeks. And stocks had already begun to recover much of their losses within a few months. In fact, within six months they were at new all-time highs!

Now compare that to the Bear Market of 2000-2002. 

That collapse took over TWO YEARS to complete. Not months… YEARS.  Peak to trough the S&P 500 lost 50%. And on a yearly basis the losses were actually worse with each successive year. The market lost 10% in 2000, 13% in 2001, and 23% in 2002.

Worst of all, it took the S&P 500 FIVE years to recoup its losses. Investors lost money for years and then had to wait half a decade to make those losses back.

So again, the best thing for investors would be for the markets to crash soon. A crash would mean the pain would be over quickly and stocks could bottom.

Unfortunately, I don’t think that is going to be the case. 

I’ll explain why in tomorrow’s article… however, in the meantime if you’ve yet to take steps to prepare for what’s coming, we just published a new exclusive special report How to Invest During This Bear Market.

It details the #1 investment to own during the bear market as well as how to invest to potentially generate life changing wealth when it ends.

To pick up your FREE copy, swing by:

https://phoenixcapitalmarketing.com/BM.html

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Posted by Phoenix Capital Research in stock collapse?, The Everything Bubble
04
Jan
2023

The Great Crisis of Our Lifetimes Has Finally Arrived

By Graham Summers, MBA

In 2014, I coined the term “the Everything Bubble” to describe the Fed’s insane monetary policies. By quick way of review, after the Great Financial Crisis of 2008, the Fed created a bubble in U.S. sovereign bonds, also called Treasuries.

The Fed did this by cutting interest rates to zero and introducing large-scale Quantitative Easing (QE) programs to the tune of $3.5 trillion. The end result was that the entire Treasury curve was repriced at extraordinarily low levels of risk.

Because these bonds are the bedrock of our current financial system, and their yields represent the “risk free” rate of return against which all risk assets (stocks, bonds, real estate, etc.) are priced, when the Fed created a bubble in Treasuries, it ended up creating a bubble in EVERYTHING.

This is why I coined the term “the Everything Bubble.” And in 2017 I published a best-selling book by the same name (The Everything Bubble: The Endgame For Central Bank Policy), explaining what the Fed was doing and what the final outcome would be.

That outcome?

That the Everything Bubble would burst, just like the Tech bubble of the 1990s and the Housing Bubble of the ‘00s. And when this happened, it would bring about the worst financial crisis of our lifetimes.

That process has now begun. Last year, 2022, was one of the worst years for the financial system in history.

It was literally the worst year for bonds on record, with bonds losing anywhere from 4% to 22% depending on the duration of bonds you owned.

The situation wasn’t much better for stocks. The S&P 500 finished the year down 18%, making it the seventh worst year running back to 1920. The only years during which stocks performed worse than this were during the during major financial crises or during a severe recession/ depression.

And unfortunately, this is just the beginning.

Unlike the Great Financial Crisis or the collapse of 2020, this process will NOT be quick. The reason is quite simple: during those situations the Fed was able to introduce extraordinary monetary policy to cushion the collapse. 

This time it cannot. 

The entire reason the Everything Bubble burst was because the Fed maintained its emergency level monetary policies for far too long. The recession of 2020 supposedly ended in May of that year, but the Fed printed $2.6 TRILLION after this, while also keeping interest rates at zero.

The Fed wasn’t the only one. Between multiple Stimulus programs and as well as socialist schemes disguised as infrastructure/ fiscal stimulus, the U.S. government has spent over $8 TRILLION in the last 34 months.

The end result is that inflation has arrived in the financial system. And the Fed CANNOT try to “cushion” this situation because more money printing/ easing is only going to make things worse.

Put another way, this crisis is going to take longer, and get much worse than anyone expects. It’s quite possible stocks don’t bottom until 2024… at levels most investors can’t even imagine.

The time to prepare for this is NOW. During the bear market of 2000-2003, things actually got worse each successive year with stocks losing 10% in 2000, 13% in 2001, and 23% in 2002.

I believe something similar will happen this time around

If you’ve yet to take steps to prepare for this crisis, we just published a new exclusive special report How to Invest During This Bear Market.

It details the #1 investment to own during the bear market as well as how to invest to potentially generate life changing wealth when it ends.

To pick up your FREE copy, swing by:

https://phoenixcapitalmarketing.com/BM.html

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Posted by Phoenix Capital Research in stock collapse?, The Everything Bubble
03
Jan
2023

The Everything Bubble Has Burst

By Graham Summers, MBA

Over the last 25 years, the financial system has been in what I call the “era of serial bubbles”: a time in which central banks create asset bubbles, said asset bubbles burst, and central banks respond by creating another, larger bubble in a more systemically important asset class.

The first primary bubble was the Tech Bubble of the late 1990s. While that bubble was isolated to a particular sector in a particular asset class (Tech Stocks), it was egregious in scope. A third grader could have looked at a chart of the NASDAQ and told you the situation wouldn’t end well.

When that bubble burst, the Fed opted to create another bubble by employing extraordinary monetary policies. Specifically, the Fed kept interest rates too low for too long, essentially making credit free. And because congress passed legislation that lowered lending standards to potential homeowners, the subsequent bubble took place in real estate: a much larger, systemically important asset class.

However, this time around, the bubble became truly global in scope, courtesy of Wall Street derivatives that the Fed ignored/ refused to regulate. In simple terms, Wall Street packaged up garbage mortgages into “assets” that were sold to everyone from hedge funds to pension funds, banks and more. In this manner, toxic mortgages in Florida, Las Vegas, etc. ended up on the balance sheets of everyone from Japanese banks to Spanish hedge funds.

So, when the housing bubble burst, all of these assets had to be revalued at much lower values… resulting in the global banking system imploding during the Great Financial Crisis of 2008.

What did the Fed do to address this situation?

It attempted to corner/ create a bubble in U.S. sovereign bonds, also called Treasuries. 

These are the senior most asset class in the world. These bonds act as the bedrock of our current financial system, with their yields representing the “risk free” rate of return against which all assets (stocks, bonds, real estate, etc.) are valued.

Put simply, when the Fed created a bubble in these bonds it was actually creating a bubble in EVERYTHING, because ALL asset classes would eventually be repriced based on Treasuries were doing.

This is why I coined the term “the Everything Bubble” in 2014.

And that bubble has now burst.

The yield on the all-important 10-year U.S. Treasury has broken its 35 year down trend. The era of Serial Bubbles is over. And there is nothing the Fed can do to fix this situation.

After all, what can it do? There isn’t a larger more systemically important asset class the Fed could use to create another bubble. And introducing more extraordinary monetary policy would make the situation worse.

What does this mean?

The Great Crisis of our lifetimes is finally here.

I’ll detail what’s coming for the markets in tomorrow’s article.  In the meantime, if you’ve yet to take steps to prepare for this crisis, we just published a new exclusive special report How to Invest During This Bear Market.

It details the #1 investment to own during the bear market as well as how to invest to potentially generate life changing wealth when it ends.

To pick up your FREE copy, swing by:

https://phoenixcapitalmarketing.com/BM.html

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Posted by Phoenix Capital Research in Central Bank Insanity, The Everything Bubble