Chris Temple from The National Investor – Thu 26 Mar, 2020

US Markets Up For A 3rd Day In A Row. Is it time to fade this rally already?

Chris Temple joins me for comments on the US markets and Trump’s comments on getting everyone back to work in the near term.

With US markets up for the third day in a row on the back of a US government spending deal investors are now wondering if we could see a strong V shaped recovery. Don’t get too confident just yet.

As for Trump’s comment a couple days ago regarding getting people back to work, this might be more optimism than anything. There are a couple things to note about his press conference that are not flattering.

Click here to visit Chris’s site and keep up to date with his market and economic comments.

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Comments:
  1. On March 26, 2020 at 10:16 am,
    Dick Tracy says:

    The expected recovery in the stock market will not come, The Fed is aggressively buying, we are in a vicious bear market. This is ” The Little Bull Market”. Soon it will fade away with the stimulus. The bear will trap and destroy all,the unwary, the foolish, and the rich. DT

    • On March 26, 2020 at 11:17 am,
      SilverDollar says:

      +l. On top of that, who wants to go back to where we were anyway?

  2. On March 26, 2020 at 10:20 am,
    Ebolan says:

    They will do anything to re-inflate the bubble, including buying equities. So who long how long it will last.

  3. On March 26, 2020 at 10:23 am,
    Temple says:

    Keep in mind Japan has been buying its equities for years…and to this day, 30+ years after its peak, the Nikkei has never reached its 1989 high.

  4. On March 26, 2020 at 10:24 am,
    Paul says:

    Chris if your looking for deflation not inflation what do you think will drive gold higher, and how high and what time frame will it happen?
    Thanks

  5. On March 26, 2020 at 10:26 am,
    David says:

    I agree with most of what Chris says, but frankly his never ending bashing of Trump gets a little nauseating. If he doesn’t think there is a very broad effort, in many corners to use this virus situation to beat him in November then I would consider that moronic thinking.

    • On March 26, 2020 at 2:16 pm,
      Temple says:

      “Never ending,” David? You have an extremely selective memory.

  6. On March 26, 2020 at 10:37 am,
    Temple says:

    Explained in my gold -specific issue of nearly a month ago — see https://nationalinvestor.com/2228/the-gold-issue-this-is-not-your-fathers-gold-market/

  7. On March 26, 2020 at 11:08 am,
    Matthew says:

    The bounce in stocks appears to have a long ways to go and pullbacks will probably help since top-calling shorters are sure to pile on…
    https://stockcharts.com/h-sc/ui?s=%24NYA&p=D&yr=0&mn=11&dy=0&id=p98723807435&a=731068101

  8. On March 26, 2020 at 11:14 am,
    BobUK says:

    A chap I know who works in the field of viruses tells me that this virus is the most frightening thing he has ever seen.

      • On March 26, 2020 at 12:18 pm,
        Matthew says:

        The silly part is at the end:
        “This begs the question as to why there is a panic in the United States. Why is there a demand to shut down the economy? This smells more like a political coup rather than a serious health threat. This is becoming CoronaGate. Is this really about trying to overthrow governments by the left?”

        The coup happened a long time ago and the “right” is serving the same globalist bankster masters as the left. Marty has to know that so what is HE up to?

        What we have here is just another successful attempt to terrify the masses into giving up even more rights while also distracting them from the massive wealth transfer from all of society (including 99%+ of “the rich”) to the ruling elite.

        When the operation is done, the sheep will be thankful for their survival rather than angry about the destruction to their living standards. Brilliant.

        • On March 26, 2020 at 12:38 pm,
          OOTB Jerry says:

          The Ruling Elites………..spot on……..

          • On March 26, 2020 at 1:18 pm,
            Matthew says:

            Yes, it’s too bad the average consumer doesn’t realize that higher prices do not come from corporations but from central banks and governments. Producers get just as screwed as consumers as their input costs rise even when wages do not so they lose sales and are forced to attempt to cut costs while keeping quality up. To make things worse, they get blamed by their customers and therefore lose many of them — especially when talking about producers of non-essentials. For example, a lot of motorcycles have gone up 50% nominally in the last 15 years but but have come down by as much as 50% in real terms due to the efforts of producers to stay alive. Yet they won’t be getting a pat on the back from any of their customers because the the customers don’t realize that there’s been a big savings that has been transferred from them to their rulers, NOT to the manufacturer of the motorcycle.

            How many would believe that an $80,000 car today (at 1600 gold) is worth exactly as much as a $40,000 car in the 1990s (at 400 gold)? We’re looking at 50 ounces of gold versus 100 ounces and before the central bank(s) took over, that savings would have flowed right into the common guy’s pocket. Instead, it is not only not a savings, it is a loss since wages and savings haven’t kept up for most people. So people get poorer and poorer yet seek help from those who caused it. But I digress.

            So the rulers like collectivism (socialism/communism/fascism) because it turns the masses into conduits for draining the wealth of the productive class (who also happen to be their only potential competition for market share). You see, that wealth does not go to the masses as politicians promise, it ultimately goes to those that they owe. Which is why debt/credit (that’s one word) is so promoted instead of savings. It’s also why everyone is taught the Keynesian bs that consumption rather than production drives an economy. So when the masses are bailed out in some way, the proceeds ultimately go to pay down loans which were aggressively extended to them by Fed/gov favored institutions. So virtually all bailouts in a downturn really go to one very small elite group. There’s no reason to restrict credit when you know that the gov will bail you out in more ways than one.

          • On March 26, 2020 at 1:30 pm,
            OOTB Jerry says:

            Spot on again……..
            Not going to change……to many brain dead……and have not figured out DEBT.

          • On March 26, 2020 at 3:06 pm,
            Bill says:

            I agree there! Yes everyone in power bends over for the banksters but I don’t think Marty’s on their side….AND CORRECT on prices big time. Case in point with Gas prices in BC…mostly tax while the producers are being destroyed.. GOV is the PIG

          • On March 26, 2020 at 3:55 pm,
            Matthew says:

            Me and my typos. I omitted “half” in the first line of the second paragraph: How many would believe that an $80,000 car today (at 1600 gold) is worth exactly HALF as much as a $40,000 car in the 1990s (at 400 gold)?

          • On March 27, 2020 at 8:44 am,
            Excelsior says:

            Great points on the sheeple gladly rolling over and giving up their rights to placate their fears, and much of this is a further power grab from the elites, and the people will be complicit with it.

            I wrote this over at ceo.ca when someone was posting a left-wing wacked out article about folks begging the world nations and banks to relieve all the debt nations face in some time of jubilee and come up with a better monetary system. What they don’t realize is that is exactly what the globalists are hoping for out of this crisis.

            _________________________________________

            @Excelsior – March 20 2:44pm

            “Ah people are already gearing up for the New World Order… Globalist goons will be thrilled the people are walking right into their trap.”

            “In the end the people will beg for their New World Order, out of fear; when it is was the terrible policies and choices the government and #CentralBanks have made the whole way along that got us here.”

            > It’s classic “Problem, Reaction, Solution” at play.

            “To clean up the debt in a jubilee, get ready for their solutions of a global currency, a micro-chipped population, and Agenda 21 nonsense.”

            “We’ve got to do this for our future” they cried as freedom died…

            https://ceo.ca/index?67e0c2b8ee16

    • On March 26, 2020 at 12:02 pm,
      OOTB Jerry says:

      Does the Chap…….work for the govt………

  9. On March 26, 2020 at 11:15 am,
    SilverDollar says:

    Good listen guys. True, the Fed will hide behind the virus as the bad guy in this production. Politicians of all bents love it………….they get to be the hero and save everyone/everything.
    I personally lean towards Chris Martenson’s statement he uses on a daily basis on his updates: “It didn’t have to be this way”. We dallied too long………..

  10. On March 26, 2020 at 11:26 am,
    Matthew says:

    Jeffrey Gundlach tells it like it is: “I don’t think government bailouts of over-leveraged companies that got over-leveraged by share buybacks at all-time highs, enriching executives and hedge fund investors, will sit well with the American people.”

    • On March 26, 2020 at 11:52 am,
      OOTB Jerry says:

      Ditto…………the Middle is going to revolt.Starting about April 1-4, when they get their statements……….when they really get the news…..
      1400 CEOs, bailed and screwed the stock holders…..ahead of the crash.

    • On March 26, 2020 at 12:41 pm,
      SilverDollar says:

      I certainly agree but how will that be expressed? What can we do directly so Congress feels it?

      • On March 26, 2020 at 1:37 pm,
        Matthew says:

        So many have so little at this point that there probably isn’t much that can be done but it would worry them if they were inundated with irate phone calls. They don’t put massive effort and money into propaganda for nothing. The consensus view matters tremendously to them since the people carry out their plans but if they lose the hearts and minds of the people, they’ll squeeze them hard financially. And that wouldn’t be difficult considering the debt load and lack of savings of the average household. This is where the nanny state is not like a parent, parents do not want forever dependent children, governments do. It means power and power is more important than profit since it is the reward that profit brings.

        • On March 26, 2020 at 3:18 pm,
          Bill says:

          Great comments Mathew!!!! I know whats going on and that the prime reason we have done well.
          Above indeed well written..

          • On March 26, 2020 at 4:51 pm,
            Canucksi says:

            Matthew, I don’t know what you’ve been eating this past couple of days but your comments of late have been deep, full of insight and offer a richness of understanding.
            You should write a book man.
            Better yet, we should work it out with the Ker team to have you deliver a mini-series on this site. I can see it now… first half outlines a financial topic… debt/credit, etc… and the second half is the juicier stuff for me where you breakdown a particular stock of interest and share a perspective on how to play it for short term gains or other. I’d for one enjoy it very much.
            Keep up the good work!

          • On March 26, 2020 at 6:24 pm,
            Matthew says:

            Thank you Canucksi. It’s probably the news lately that I’ve been eating and it doesn’t go down very well! 🤢

        • On March 27, 2020 at 10:56 am,
          Excelsior says:

          Agreed Matthew about the nanny state comments and them wanting dependents and power forever. Also Jeffery Gundlach was spot on about it not sitting well to bail out companies that over-leveraged buying back their own stock, and enriching their officers stock options & bonuses. There isn’t much people can do about it except flood their congressional “representatives” with irate calls and letters that they are fed up with the crony capitalism and too big to fail nonsense.

  11. On March 26, 2020 at 12:09 pm,
    OOTB Jerry says:

    Hooverized…………Dang right there is a BIG DIVIDE………..I gone……

    • On March 26, 2020 at 12:39 pm,
      Ebolan says:
      • On March 26, 2020 at 12:40 pm,
        OOTB Jerry says:

        I did that a long time ago……….Bail in talk, started with Cyprus ….

      • On March 26, 2020 at 12:40 pm,
        Ebolan says:

        It’s not called Fractured Reserve Banksterism for nothing!

        • On March 26, 2020 at 12:55 pm,
          OOTB Jerry says:

          I just read the article……..I did not realize they are dropping to zero…..reserve requirements……..hummm…..thanks……one never has enough info…..jmo

          • On March 26, 2020 at 1:18 pm,
            Ebolan says:

            Ex posted this in that phosphate thread…

            https://oddstuffmagazine.com/wp-content/uploads/2013/02/Car-seat-turned-into-a-toilet-seat-474×355.jpg

            These are the cars we’ll be driving assuming we even have cars. 🙂

          • On March 26, 2020 at 1:50 pm,
            JMiller says:

            Jerry,

            Most bank accounts, like savings and money market accounts, already had zero reserve requirements for quite some time. Only transaction accounts (demand deposit accounts) like checking accounts still had the 10% reserve requirement. Now even they will have no reserve requirements. Most people thought that all banks accounts had a 10% reserve requirement when they did not.

            Also a little known fact is that banks and credit unions have the right to require at least seven days’ written notice for any withdrawal from a savings or money market account.

            Some credit union websites that I have seen state that they have the right to require at least 7 days and up to 60 days notice of any withdrawal from certain accounts. One example is below:

            “We reserve the right to require you to give not less than seven (7) and up to sixty (60) days written notice of your intention to withdraw funds from any account except checking accounts.”

            https://www.usccreditunion.org/wp-content/uploads/disclosures.pdf

            All the above has to do with Federal Reserve’s Regulation D.

          • On March 27, 2020 at 6:20 am,
            OOTB Jerry says:

            Hello JM………thanks for the added info……..

          • On March 27, 2020 at 6:13 am,
            OOTB Jerry says:

            Ebo………I think the guy has one of those “tiny house and car houses”…….must live in californo……..

  12. On March 26, 2020 at 1:18 pm,
    OOTB Jerry says:
  13. On March 26, 2020 at 3:05 pm,
    markedtofuture says:

    The top five WA gold stocks likely to be on the radar of the majors – **Hemi’s rapid emergence as a shallow, high-grade gold discovery and the probability that Mallina’s global resource will exceed 4 million ounces is sure to have put De Grey on the radar of the big Australian gold miners, not to mention some of the international heavy hitters.**

    https://stockhead.com.au/resources/the-top-five-wa-gold-stocks-likely-to-be-on-the-radar-of-the-majors/

  14. On March 26, 2020 at 7:54 pm,
    Mike in Albuquerque says:

    Sorry Chris you are very, very wrong – with H1N1 we had antivirals that helped infected people recover and by the end of 2019 we had a vaccine. COVID-19 is totally different, none of the existing antivirals seem to help that much and because of the nature of this virus it is going to be difficult to develop a vaccine. Consider Italy – it had 241 deaths from H1N1 for COVID-19 it has over 10360. In Italy Covid-19 is well over 42 times as deadly as H1N1 ever was and that number will only grow. How can you say we are over reacting? How can you say Covid-19 is no worse than H1N1?

    You may think it is ok for the old and poor to die for the greater glory of the US economy but I don’t.

    References:
    https://coronavirus.jhu.edu/map.html
    https://en.wikipedia.org/wiki/2009_flu_pandemic_by_country
    https://www.healthline.com/health-news/how-deadly-is-the-coronavirus-compared-to-past-outbreaks#2009-(H1N1)-flu-pandemic

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