Opening Statement from the July 2020 CCPM Forecaster
Originally published on July 6, 2020 (pre-market release)
The “Geniuses” Finally Declare Recession
On June 9, the NBER listed February 2020 as the official start of the COVID-19 related recession in the U.S. As discussed in special webinars held in March (in addition to the Intelligent Investor and Market Forecaster) we have been in a global recession since mid-March. We also expected the impact from the response to COVID-19 to result in a record-low collapse in GDP for many nations.
Finally, in early April we stated that most economic data from around the globe would be “off the charts.” This is precisely what we have seen.
Adding to the uncertainty of this unprecedented period which was already facing trade-related risks, criticism is growing regarding China’s handling of the coronavirus. This friction is likely to impede progress in U.S.-China trade talks. Consequently, although China recorded record-low PMI and GDP data as a result of COVID-19, it is now showing signs of recovery.
George Floyd Fiasco
Over the past several weeks President Trump has been facing additional hurdles for reelection due to the ridiculous behavior from irrational Black Americans and Jewish agitators, who have used the questionable death of George Floyd to incite violence, destroy public and private property and loot.
The situation is so ridiculous on so many levels that I cannot speak of it openly in the detail I would like without the risk of making it the primary focus of my time. It is important to consider that the COVID-19 lockdowns provided an opportunity for this wave of domestic terrorism. And now, Jewish-run corporate America is sending billions of dollars to reward the actions of these domestic terrorists.
U.S. and Global Economy
In the June 2020 issue of Dividend Gems, we released revisions to U.S. GDP estimates. We raised our Q2 2020 GDP (q-o-q) estimate from -25% to...
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