Chris Temple from The National Investor – Fri 2 Nov, 2018

Strong Jobs Numbers and The Moves Yesterday All About China and US Relations

Chris Temple and I discuss the US jobs data released today that was strong accords the board. Most importantly was the wage growth numbers that are now growing at 3.1% y/o/y. This will further drive inflation expectations and make the Fed stick to its rate hiking path. As for the moves yesterday, the big drop in the USD and bounce for the markets, we can thank the tweet and news stories around Trump about a possible deal being struck with China. These are all rumors as we will have to wait for the G20 meeting to see if anything comes out of it. Take note though, if there is a deal the dollar should drop and markets around the world and many of the metals will get a buy.

I will be at the New Orleans Investment Conference all day today. Please email me if you are at the show and want to meet up or if you are unable to attend and want me to chat with any of the companies that are exhibiting here – Fleck@kereport.com.

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Comments:
  1. On November 2, 2018 at 12:57 pm,
    CFS says:

    Way off topic, but relevant to world trade and US dollar:
    https://www.youtube.com/watch?v=NSBcPV2alNs&feature=youtu.be&t=1014

    • On November 2, 2018 at 7:54 pm,
      Ebolan says:

      Hey CFS, who you voting for governor of Commiefornia??? I hope not Gabby Nuisance.

      And how are you voting on Prop 6?

  2. On November 2, 2018 at 3:00 pm,
    CFS says:

    Ira’s end of day:
    https://youtu.be/V8me72gYHMo?t=33

  3. On November 2, 2018 at 3:04 pm,
    Markedtofuture says:

    New York City Joins The “Imminent Bankruptcy” Club

    The “public pension crisis” is the kind of subject that’s easy to over-analyze, in part because there are so many different examples of bad behavior out there and in part because the aggregate damage these entities will do when they start blowing up is immense.

    But most people see pensions as essentially an accounting issue – and therefore boring – so it doesn’t pay to go back to this particular well too often. Still, New York City’s missing $100 billion can’t be ignored:

    https://www.dollarcollapse.com/new-york-city-imminent-bankruptcy/

    • On November 2, 2018 at 3:13 pm,
      CFS says:

      Cities and states and even the Federal Government make the assumption that they can always just raise taxes to cover for pension deficits.

      I’ve got news for the idiots who make that assumption….
      There is a limit to taxation before the peasants revolt, and we are approaching that limit already.
      No amount of force will stop the revolution.

      It did not in the English twelve hundreds.
      It did not in the American 1770’s or soon thereafter in France.

      It will not in the US 2020’s…..

      • On November 2, 2018 at 4:08 pm,
        b says:

        A quick google says 60% of americans are receiving government funds of some kind.

        Will they bite the hand that feeds them?

        • On November 2, 2018 at 4:52 pm,
          OOTB Jerry says:

          Additional news for the idiots……
          Govt inflation of college education, subsidized rents , snap cards, over priced health care, over priced fake real estate prices that allow govt to raise real estate taxes, under funded cola adjustments on fake inflation numbers, interest rates screw job on savers, over paid govt employees, too many govt employees that vote in political lines, fake fed, fake irs, fake cia, fake doj, fake politicians, fake black president, fake BIS, fake Comex, fake COT,
          Have I left anyone out………….Have a great week end……….. 🙂

        • On November 2, 2018 at 5:32 pm,
          CFS says:

          Welfare recipients won’t revolt, but those over-taxed will.
          What is going to be the government response?
          Put them in jail……How will that produce any taxes, let alone more taxes?

  4. On November 2, 2018 at 3:05 pm,
    CFS says:

    Interesting …..
    China is shorting gold futures so it can accumulate cheap physical gold.
    Gold is doing the same in Silver.

    Greg Hunter’s end of week:
    https://youtu.be/f61INIgDwjk

    • On November 2, 2018 at 3:24 pm,
      Ozibatla says:

      If that is the case, how much gold does China require?

      • On November 2, 2018 at 3:30 pm,
        CFS says:

        Enough to replace all US Dollar accumulations.

        • On November 2, 2018 at 4:06 pm,
          Ozibatla says:

          Ha, well that is alot. The shorting could go on indefinately.

          • On November 2, 2018 at 8:25 pm,
            CFS says:

            Longer than most people think.
            And thus the rise in gold price will not occur as soon as many expect.

            The good news (?), however, is that China is not just buying gold to replace its US dollars. It is buying Land for food production in the US, Europe and South America. It is buying lots of other metals for stock-piling. It is replacing U.S. dollar holdings with real assets as fast as it can without driving prices up.

            The bad news is that after China has acquired its stock-piles, the resultant shortages may cause inflation in real asset prices.
            I write “may” because once China reduces its stock-piling, the demand drops.
            For food, however, there is another factor that will drive high [rice inflation.
            We are approaching the 400 year solar cycle for a grand solar minimum. The stupid politicians talk about global warming or climate change based on their incomplete models, which are extremely naive.
            Two major modelling errors are that solar output is constant…..it is not, either in temsity or spectrum.
            The model assumes heat trapping approximately correctly due to CO2, water vapor, methane, etc., but neglects to calculate changes in reflectivity, scattering of incoming sunlight due to those very factors.
            The future holds food shortages even for a constant population, and, of course, the population (specially of India is projected to grow strongly, even though the population of China is projected to decrease over the next 100 years.)

          • On November 2, 2018 at 9:17 pm,
            Ozibatla says:

            Good thoughts CFS. Climate change and the many issues it apparently cause is just another reason to garner money. For example; here in Aus our current government is talking about introducing a “drought proof” initiative for farmers. If it were to eventuate, they would essentially be given an open ended cheque (god knows how much that would be) that would then be lumped back onto the tax payer. Excluding everything else for one second, it is ludicrous to even suggest we could drought proof a land mass that is one of the driest in the world. But the masses just congregate towards it in support as their heart strings are pulled via another image of starving livestock. Dont get me wrong, drought stricken farming is a real issue but the harsh reality is thats part and parcel of being a farmer, particularly in Aus.
            Just add it to the long list of other taxes we are exposed to.

  5. On November 2, 2018 at 3:12 pm,
    b says:

    If you have the power to buy a metal at lower prices why not?
    We are capitalists no?

    • On November 2, 2018 at 3:29 pm,
      CFS says:

      Just because the regulators are corrupt or incompetent does not make market manipulation right by any rational ethical standard.
      (But then neither China or the banking system are known to have high moral values.)

      • On November 2, 2018 at 3:43 pm,
        b says:

        Everything about us is corrupt.

        I wonder when it became China doing it? I should ask gata. lol

  6. On November 2, 2018 at 3:16 pm,
    Markedtofuture says:

    Banksters looking for scraps – JPMorgan Sees First Geopolitical Risk Victims in Gold and Yen

    Traditional hedges less effective against newer threats

    Global Anxiety Index so low it may signal disorderly markets

    If they really want to steer clear of geopolitical flare-ups, investors should set up bigger positions in the dollar and volatility indexes — and abandon favorite hideaways in the yen and gold, according to JPMorgan Chase & Co.

    https://www.bloomberg.com/news/articles/2018-11-01/jpmorgan-sees-first-geopolitical-risk-victims-in-gold-and-yen

  7. On November 2, 2018 at 3:38 pm,
    CFS says:

    This should be another line on Obama’s jailing fortreason:

    https://www.youtube.com/watch?v=juI4b6dzKzs

  8. On November 2, 2018 at 5:01 pm,
    OOTB Jerry says:
    • On November 2, 2018 at 7:54 pm,
      Ebolan says:

      Guys appropriately named…a real lemon sour puss…so make lemonade…