I wouldn’t say that there’s euphoria about the relationship between China and the U.S., but the markets are certainly rallying here and they have torque to push this further.
The S&P 500 is trading at all-time highs, while China is publicly talking about IP rights and theft of technologies, the acknowledgment of which is a big step.
The Phase 1 deal is really candy for the markets, because it covers about 5% of the dispute between the two powerhouses. Still, it’s progress and the fear trade (gold) is rubbing up against support at $1,450.
Courtesy: Zerohedge.com
But, as you can clearly see, it might be too late to stave off a slowdown.
Trump’s worst fear is not the Democratic Party, nor China; it is unemployment and the stock market going against him.
Trump needs the economy running like a Swiss watch to win, and Portfolio Wealth Global believes that he’s got a few aces up his sleeve – or so he believes.
The clash between globalist interest and America-First advocates will be EPIC.
Courtesy: Zerohedge.com
As you can see, corporations have SEIZED every chance to borrow at low rates and so have governments. Rates can NEVER go up under our current financial regime, which means that we’ll ALWAYS be toying with zero rates or negative rates, until the reset comes.
This is the biggest reason Portfolio Wealth Global doesn’t foresee any major correction or bear market for gold. For now, we do not see any rally, either.
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Buybacks have driven the price of equities for a decade. Of course, buybacks exist only because businesses are profitable, BUT some have used debt and loans to finance their buybacks, and that’s unsustainable.
Courtesy: Zerohedge.com
In my personal view, corporations have now ENJOYED a golden age of profitability and I expect them to start plateauing, since employees’ salaries are on the rise.
Buybacks will decrease next year and that’s a sign of a top.
Make sure to follow trends in salaries, because that’s going to be a major component of when this market peaks.
Courtesy: Zerohedge.com
You can already see that stocks are EXPENSIVE, but are not in a bubble.
How could they be if 2019 has been a record year of OUTFLOWS? Investors are out of the market.
These are some of the most confusing times for investors, since I’ve started trading. Every day, a billionaire shuts his hedge fund down, converts it into a family office, announces redemptions to clients or wrongly calls a top.
Buffett is afraid of making deals. Dalio compares this to the 1930s. Druckenmiller says there are no market signals in this bullshit monetary experiment and EVERYONE is saying that making money is harder than it has ever been.
Private equity has become the new king and real estate has turned into an industry that attracts funds – unprecedented just five years ago.
This leaves us with few options for MAJOR gains, as most assets are priced fairly.
One category that has been hammered is cryptocurrencies, specifically Bitcoin, which is looking like it’s worth a bite below $7,000.
I’m also researching two new NICHES, which are completely under-the-radar and I’m going to be using the month of December to publish several GROUNDBREAKING REPORTS.
On Thursday, I’ll be updating on gold and silver and the way their TECHNICAL CHARTS are forming rare patterns.
Best Regards,
Tom Beck
Research Partner, PortfolioWealthGlobal.com
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