The Weekly Perspective with David Morgan 08.27.17

The Morgan Report

Wall Street Banks warn downturn is coming. Global markets are in the last stages of their advance as bad economic problems are on the horizon. Dollar falling, market in distribution pattern. US Stock valuations haven't been this extreme since 1929 and 2000. Market valuation has reached speculative levels. Debt markets are also overvalued. US debt rating will come under review if debt limit isn't raised timely. Failure to raise it will create unintended consequences. The game continues until it ends. Not with a bang, but a whimper. There is no connection between the markets relating to the real economy. Many companies laying off employees, ie, the Statement Department, General Motors and number 1 - Macy's. Mostly retail, auto and building supplies. Bitcoin is a gigantic bubble waiting to explode according to Peter Schiff. They're never going to be money, he says. David is favorable to the blockchain. Tesla's Model X beats a Lambo in a 1/4 mile. Germany has completed repatriation of gold 3 years early. Is there really gold in Fort Knox? Mnuchin says it's all there. Make your own decisions.
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