Consumer Confidence Conditioning

JM Bullion

Podcast Summary

0:00-7:21 Introduction

Consumer Confidence Conditioning

7:21-13:13 the recent high reading of the Michigan consumer confidence survey is discussed in the context of the media’s insistence that the economy is improving. The Gallop consumer survey, however, is down. Consumer confidence is not a good barometer for predicting future economic activity. Consumer confidence and other government data are used to highlight improvement in the economy and will be used by the Federal Reserve to justify an interest rate hike.

The Fed needs to raise interest rates to distinguish itself from the other world central banks who have negative interest rates and to combat de-dollarization initiatives.

.@tjgmarks the most important job of the FED is not jobs, the economy, housing or the stock market but maintaining DEMAND FOR UST BONDS

— Smaulgld(@Smaulgld) June 25, 2015


13:13 -21:40 the Greece situation is discussed. Since Greece can’t pay, won’t pay, the main goal of the creditors is to contain Greece and prevent the other debtor nations from lining up for debt relief. The possibility of a NO vote in the Greek referendum is discussed. The Greek situation highlights that the world is in a debt bubble and its not just Greece that can’t pay its creditors. The only way out is to extend increasingly larger amounts of credit of which, eventually limits are reached as they have been in Greece.

A Fed rate hike distinguishes the United States from other central banks. Apologists for an excessively credit fueled economy note that because there has not been a debt crisis yet that is evidence that there won’t be one. Greek decisions are being made on political rather than economic grounds.

Economics and Government Policy

21:40-26:40 Discussion of economic considerations and government policy. Socialism maintains that running government services are not intended to be run for a profit. The President says that the Greek crisis won’t have an impact on the United States economy. All economic news is good news from AP Bloomberg and Reuters.

The Housing Market

26:40-31:20 the current housing market is discussed.

31:20-40:15 Days on market shown on MLS’s and real estate portals does not necessarily reflect how long a home has been on the market.

Housing Grant Program

40:15-56:16a National Homebuyer Fund housing grant program is discussed. The difference between the amount of mortgage a person can qualify for vs what a person can afford.

The Next Bubble to Burst

56:16 Silicon Valley biotech/tech stocks will be the next bubble to burst. Believing what the main stream media tells you about the economy has been profitable-buy stocks.

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Further Reading:
The Fed Will Raise Interest Rates

Does the Fed Need to Raise Rates to Combat De-Dollarization Initiatives?

The Three Legged Economic Recovery Propaganda Stool

Bankruptcy in America

List of Foreign Holders of U.S. Treasuries

How a Stock Market Crash Will End the Economic Recovery

Bankruptcy in America

What Happens After the Next Stock Market Crash (poll)

The Three Legged Propaganda Stool

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