• Clifford Bennett, Chief Economist | World’s most accurate currency forecaster at Clifford Bennett has over 36 years of market trading experience and was named the 'World's most accurate currency forecaster' by Bloomberg New York. He has advised some of the world's largest organisations, billionaire investors, and political leaders an


• 17.02.2022 02:00 pm
#stocks

US Retail Sales about time.

Bounced back nicely, but the average over the past few months is still around just 0.7%. Modest and certainly no where near any form of boom bounce back recovery type scenario. Pile in plummeting consumer confidence and sky rocketing inflation with a little idea Federal Reserve, and seriously, just hit the panic button.

Why isn't everyone panicking? Well consumers are, it is just the ivory tower Wall St spin that is keeping market sentiment aloft.

The Federal Reserve is populated by weak people more intent on being seen as 'caring', than actually doing the necessary 'bold' to save and support the economy on a smoother path long term.

In fact, they are so far behind the curve, that it doesn't matter what they do now, the game is largely lost.

Score: Inflation 7, Fed 0.

Yes, this is about to change. The Fed is about to take some shots at goal and will hit the target, but there are indeed probably a full 7 x 50 point rate hikes necessary for the game to even be tied.

The market took the Fed minutes from the latest meeting to be somewhat dovish. Not at all, but even so, the equity market rally so far after a false dawn of Russian pullback and mistakenly perceived dovish Fed meetings, is utterly weak. It is all pointing to a savage resumption of equity market downturn at any point.

We have been right to be warning of the potential downside since the middle of last year. The US market is about where it was five months ago and looks sick. The Australian market has been sideways to down for even longer. All this, in an environment of positive sentiment spin from all the major investment banks and major media outlets.

To be honest, I have never seen such a self interested industry spin of what is actually happening economically and in the price action of all the major markets.

We may all survive, but it will be at much lower asset prices. Hey, if I am wrong I have guided you to miss out on a very small part of the further upside before I would grant its continuation prowess, but if I am right, you can position here to skyrocket your relative net worth. Especially against the tech billionaires. Now isn't that an exciting proposition.

Stay active, this is when it counts...  when everyone else is getting lazy and comfortable with the recent reset into sideways consolidation.

Something else much bigger may be afoot. Stay tuned.

Watch out for our rolling markets live show today and we will of course post the show and email you if you wish.

Have a truly great day, it is up to you to make it special.

US Lumber Prices

Still 2.5 times pre-Covid levels. And continuing a second strong up-trend. This is truly diabolical economics.

Now this is a BIG STATEMENT.... wait for it... the US's economic problems are only just beginning.

Not ending, like the entire market place believes.

PS KEEP BUYING GOLD.

US$2,500. US$3,500. Coming to a screen near you soon.

Clifford Bennett
ACY Securities Chief Economist.

The view expressed within this document are solely that of Clifford Bennett’s and do not represent the views of ACY Securities.

All commentary is on the record and may be quoted without further permission required from ACY Securities or Clifford Bennett.

This content may have been written by a third party. ACY makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by any third-party. This content is information only, and does not constitute financial, investment or other advice on which you can rely.