➡ Gregor Manorino discusses the current economic situation, highlighting that despite the end of a port strike, the US economy is struggling with business activity and manufacturing in contraction for several months. He debunks the myth that the US is the world’s economic engine, stating that Asia, including China, holds that title. Manorino also criticizes the focus on the rising stock market as a sign of economic strength, arguing that the velocity of money, or the rate at which cash moves through the economy, is a more accurate indicator. He concludes by expressing skepticism about the reported job creation numbers, suggesting they are inflated due to the upcoming presidential election.
➡ The text criticizes the current economic policies, claiming they are leading to the destruction of the U.S. economy. It suggests that the Federal Reserve’s actions, such as artificially suppressing rates and devaluing the currency, are harmful. The author also criticizes political figures for not addressing the shift of economic power to Asia. Lastly, the author warns about the risks of betting on a spike in crude oil prices, suggesting that such a trade is already priced into the market.
➡ The speaker in the video claims that Asia, not the United States, is now the world’s economic powerhouse. He encourages viewers to fact-check his statements and argues that the U.S. economy is struggling, with job promises being mere propaganda. He also expresses his commitment to providing accurate information and helping his audience understand the current economic situation.

Okay, everybody, here we go. It’s me, Gregor Manorino, Friday, October 4th, 2024, pre-market report and people, we really do have to talk. And I also want to, I want you to stick around to the end. I want to warn you sincerely about something that’s happening here. And this more or less goes out to my alliance here, specifically with regard to the oil trade. So just stick around for that. I think it’s going to be important. It’s going to affect everybody. But I want you to pay attention to this. So we got some economic news this morning.

We got, you know, look, man, we’re going to get to that in a minute. It’s laughable. Interesting. Anyway, so we all understand how this played out. All right, port strike ends as workers agree to a tentative deal and blah, blah, blah, blah, blah. Now, look, I took so much heat for this, people. You have no idea. Maybe you do. If you follow this blog, again, many people out here on YouTube were talking about this being it. This was the black swan. It was all over. And I came out here publicly saying, in no way was that going to happen.

Yes, I downplayed it. I got a lot of heat for that. I believe it would end sooner than later. I did say if it went on, it would give the Fed an opportunity to, of course, throw cash at it and flake. And that’s what they’re going to do here. But this ended like three days. All right. Now, again, it’s just part of it’s so sad to see what’s happening to people. They are they are fear struck by things like this. They don’t know what to do. They become paralyzed. And of course, they make the wrong choices.

And again, you know, my take on this since day one in no way was just going to be a black swan or an outlying event that was going to take the world by storm and, you know, throw us back into some kind of a stone age kind of a thing. But again, there are people that prey on you. You just got to sit back and understand the mechanism. Moreover, this is a presidential selection cycle. Did you really think this was going to go on with it? It’s no, there is no way.

It’s too easy. Anyway, look, man, ignore anyone that’s trying to get you to focus on something like this, and then prey on you as it’s going to be the big one. I’m going to say right now, ignore them. All right, because they’re going to be proven wrong. It’s too bad. Anyway, let us move forward here. So that’s out of the way. This whole thing with Israel and the expanding war. Yes, it’s a huge factor, but it’s not getaway on this market. I’m telling you right now, if you go to crude oil, stick around.

I got something to talk about. Now, anyway, let’s talk about more economic activity in the news that we got today. So what do we find out? Chicago Business Activity Index remains a contraction for 10 straight months. Business activity in the United States is basically at a halt. The economy here, we’re dead and we’re buried. You know, let me bring something to your attention real quick before we move forward. There’s people who comment here all the time, and I appreciate their comments. I really, really do. Now, I do look through the comments.

Sometimes I really can’t. Anyway, look, there are some of you out here. I want to dispel a myth, a big myth out here. And again, please don’t take my word for what I’m about to say. There are many people here, it appears, that believe, and I want you to think about what I’m going to say here, that the United States is the economic engine of the world. I don’t know where you people are getting this from. It’s not true. Asia, including China, is the economic engine of the world. Oh, you don’t believe that? Really? Here’s a challenge for you.

Right now, as you’re watching this video blog, open up a window and look for the economic, just I don’t know, whatever, however you search, economic engine of the world. You will see that what I am telling you is true. Most people, again, are locked into this paradigm that the United States is somehow the most significant nation on this planet. I have a rude awakening for you. It’s not true. You can look it up, you’re gonna be shocked, I think, most of you, to find out that the United States is not the economic engine of the world.

We become an important nation. Do you understand what I’m talking about? We don’t make anything, and there’s a big reason for that, which we got to talk about too, as well. I mean, all this talk about bringing manufacturing back here to the United States, it doesn’t matter. You can bring back all of the manufacturing here to the United States. Nobody wants our products anymore. No one wants the dollar anymore. Do you see what’s happening here? The United States, again, no longer the economic engine of the world, which it once was.

We’re becoming insignificant, and this is gonna change the global paradigm. It’s gonna change our lifestyle. It already is. The standard of living here in the United States is falling at its fastest pace we’ve ever seen, and this is, again, because of why. The United States, under the last three presidents especially, has fallen off the map, fallen off the map, period the end. Yes, you’re. The market’s been rip-roaring on the back of trillions and trillions and trillions and trillions and trillions of dollars worth of debt. Rah, rah, rah. Look at that stock market.

You’ve been deceived. You’ve been told to look at the stock market because it’s going higher and higher, and that means our economy is strong. All you really had to do was look in one place, people. The money velocity, the rate at which cash is moving through the economy. Under Obama, under Trump, under Biden, we have watched the rate at which cash is moving through the economy crater and crater and crater as the stock market has gone higher. This is an illusion here. You’re being lied to. Look over here. Don’t look over there.

It should make sense to you that in order to have an economy that’s doing well, the rate at which cash is moving through the economy should be going up. It’s been going down. Last three presidents, lower, lower, lower, lower, lower. You cannot have a strong economy or a booming economy with the rate at which cash is moving through the economy falling. Does that make sense to you in any way, shape, or form? Again, you’ve been lied to. You’ve been deceived, and you continue to be. We’re gonna bring jobs back here to the United States.

We’re gonna bring manufacturing back here to the United States. You know, hold that thought. So not only is business activity, again, ten straight months. Actually, it’s longer than this. We were cratering, cratering, cratering, cratering. We had a bump and then resumed the downtrend. So take out the one little bump. This has been going on for years. Let us move forward. Make this up. Layoffs in August while hiring in 2024 is a historic low. History is being made. U.S. manufacturing factory activity. Yeah, with the economic engine of the world, how about no.

U.S. manufacturing PMI, 47.2. What does that number actually mean? Any number below 50 is contraction. In other words, shrinking. It’s an incredible thing to see, and it’s not gonna stop. Here we go again. U.S. manufacturing activity contracts for six straight months. Also, on the back of a bump, it’s been going on way longer than that. Now here’s today’s economic news, and you’re gonna laugh. U.S. job creation totaled 254,000, much better than expected. This number is gonna be revised. You know that anyway. But, so let’s see. So we’re creating jobs on the back of manufacturing falling off of a cliff.

Actually, in contraction, layoffs are jumping, and hiring is at a historic low, with business activity in contraction also for 10 straight months. But they want you to believe today, again, consider what we’re talking about here. Presidential selection cycle. They want you to believe that we just added a whole bunch of jobs. We didn’t add nothing. And this number, I can’t remember where they even put that thing. Well, it’s just over, man. It’s over. And again, to those of you that still believe. Here, here we go. They want you to believe this is fake.

Propaganda, and it’s in your face. The lies, the deceptions, the distractions. Look here. Don’t look over there. It’s an incredible thing. So how many of you didn’t know that Asia is actually the economic engine of the world? Now you think we’re gonna change that? Do you really believe people are gonna buy some miracle? If we bring manufacturing back here, more of it, to the US. Meanwhile, factory orders, manufacturing. There is the non-existent. You think this is just gonna automatically change, and the world is gonna want our products now, because we’re just so great here in the United States.

We’re the laughing stock of the world. We’ve been, and we’re on display, full display right now with the clown show going on here. Oh yeah, the world’s gonna want our products. It’s all gonna change. It’s unbelievable. Really, it really is. What people are forced to swallow by self-aggrandizing puppets, who really work for the Federal Reserve, of course, because they’re both calling for what the Fed wants right now. We’re not doing. That is, of course, lowering rates, artificially suppressing them, killing the currency, economic destroyers, both of them. That’s what we’re being sold here, and that’s gonna make us all really, really strong.

We know what the solution is. The solution is the polar opposite of what the two puppets are calling for, what the Federal Reserve is doing right now. We’re being destroyed. We’re being destroyed. Do you think it’s an accident here, a comedy of errors, that the United States is no longer the economic engine of the world? Oh, you didn’t know that. You didn’t realize it’s Asia, right? No, of course you didn’t. Because no one’s gonna tell you that. Has Kamala said that to you? Of course not. Did Trump tell you that? No, because you must be lied to.

Lies by omission, man. Now, a couple of things going on here, and hold on for my warning with regard to crude oil. This is the MMRI, people. Look what happened. Look what happened. We did break above. Well, what was now resistance is gonna become support. Now, I didn’t think this was gonna happen. I’m being honest with you. I really did not believe it, but it has occurred. The downtrend remains. The downtrend remains, but we did break through. We didn’t bounce off. So now we’re in this new channel, which is down.

We need to see where this is gonna go. There’s a phenomenon occurring here that’s pretty profound. You got the knee-jerk into the dollar. It’s not going to last. This morning, the dollar’s a little bit lower, okay? The dollar or the dollar index is a factor in the MMRI, okay? This is a gift to all of you. It’s free. Link in description of this video. We need to keep our eyes on this. Now, the phenomenon is, generally in a fear trade, you do see the knee-jerk into the dollar. You see cash make its way into the debt market.

We’re seeing the opposite happen. Cash is bleeding right now out of the debt market. Now, mark my words on this. This downtrend is going to remain. The Fed is committed to buying it all, to creating cash out of nothing, devalue the currency, and artificially suppress rates, same page as Kamala, same page as Trump, leading to our overall destruction, and again, our way of life in the United States. This is not gonna change. Whatever they’re telling you is a lie. Kamala’s plan, throw hundreds of billions of dollars at a problem, which is what they always do, and it’s gonna go away, and that means, you know, she wants to, obviously, just as Trump is saying, bring back manufacturing to the United States.

We manufacturing is not existent here anymore. It’s a shame what we’ve allowed to happen to this nation, but again, it’s Asia right now. Asia, Asia, Asia. It is the economic engine in the world. We’ve already lost that status, and that’s another reason why we’re seeing the dollar being shunned. You understand? It’s too simple to understand these concepts here. So, that’s Kamala’s plan, throw hundreds of billions of dollars. Trump’s plan is, again, to more tariffs, for which Biden has already reimplemented, which you didn’t know. Biden’s not gonna tell you.

Kamala’s not gonna tell you what they’ve already done here, okay, hoping that something was gonna be different. China’s tariffs. I’m sorry. Trump’s tariffs on China never disappeared. Oh, yes, Biden did take away a whole bunch of Trump’s tariffs last time, but he under your nose, right? We weren’t supposed to look. He started to reimplement these. Trump’s exact tariff plans last year. And where we go and lower. Look, man, you can’t throw cash at this problem and it’s gonna go away. Tariffs are not gonna make it go away either because they’re already enforced, being enforced right now.

It’s over. And again, this is not just an issue with the United States, no longer the world’s economic engine. This is a global phenomenon. Why don’t you wake up to that and realize that this is a systematic, methodical destruction here. Bicentral banks, they’re wiping us out. In the literal sense, people wake the freak up, man. You guys don’t understand what’s going on. A lot of you just are in La La Land, it seems. Start to pay attention to what’s going on here. Understand the system is being taken apart, piece by piece, the lies, the distractions, the propaganda, the fake numbers.

This is absolute propaganda. Absolutely. Do you believe that we’re adding all of these jobs? Meanwhile, business activity is falling off of a cliff. Meanwhile, layoffs is skyrocketing, hiring at historic low, manufacturing is done here in the United States. I mean, come on, man. Now, look, we do have to talk about a few other things here. Very important. Now, with regard to crude oil, let me explain to you what’s happening here. Okay. Well, let’s start off with this. So oil prices spike, and this is unbelievable what we’ve seen over the last couple of days as Biden hints, hints of a possible Israeli strike on Iranian energy assets here.

Israel could strike Iran’s oil island sitting crude oil soaring. Now, there was a lot of bets here, a lot of bets that crude oil is going not just higher, but much higher. And I’ve heard from some of my own lions here that are betting that crude oil is going to spike very soon by options. Please hear some of these very, very risky. Okay, I understand that. Now, I am not saying that it’s not possible that we’re going to see a big spike here in crude oil. But here’s my warning for all of you.

This trade is very, very lopsided. When you see that, when you as an investor, as a trader, when you see traders all piling in on one side of a trade, okay, that’s a warning sign. I’m not saying it’s not going to happen. Okay, but when you have an inordinate amount of people on one side of a trade, any trade, this just happened to be the oil trade, that should be a warning side to you to maybe, maybe your thinking is wrong here. I’m not saying it is. And we certainly could see a big spike here with regard to crude oil, but I don’t like to see a trade be so skewed to one side.

When you see that, it generally means you’re probably too late. And I’m not saying this is written in stone, my lion said, Look, I got your back. You know, I do. Alright, I am out here, specifically trying to get people to understand the situation here. And yes, of course, make it work for you. I don’t want to see anybody here get caught on the wrong side of this. We’re bending against the debt, becoming more essential, but yes, we’re staying along the stock market here. This this this port strike thing that was sold to many of you as the end all turned out to be nothing as you and I knew it would be okay.

Those of you that called me out here and said I was wrong about the port strike. Greg is leading his people to the slaughter. Let’s see if you have the guts to say Greg, you know what you got it right. You’re not going to hear a peep. These people, they condemn me, they condemn you. They don’t have the guts to say, you know what, we were wrong. It’s amazing. It really, really is. They try to discredit me. They try to discredit you. They try to discredit this this this thing we’ve created here.

This is huge. They can’t do it. Again, we’re not right all the time, but we’re right about 90% of the time or better than that. Now with regard going back to this skewed trade, I want my lions out here to be very cautious. Very, very cautious here. Because you can lose big time. I don’t want anyone to lose here. This this skewed trade with so many piled on one side, betting that crude oil is going to spike here. Look man, I’m not telling any of you guys or girls what to do.

I hope that if you’re in here and you are getting involved in complicated options trades here, especially leverage bets that you know what you’re doing. You’re not acting on emotion. You’re not looking to capitalize on this terrible situation here that that invariably leads you to to losses. I’m telling you right now people. So be very careful here. That’s my warning to all of you. Understand risk. Know what you’re doing. Realize that there’s a strong possibility that’s already priced into the market. So look, man, again, I know I’m probably preaching to the choir right here, but I find my it’s my responsibility.

I really feel this way to keep all of you on the right side of this situation here. And I hope I’ve I’ve enlightened you with some of the things I’ve talked about in this in this video. How many of you are surprised? Here’s my question to find out that the United States is not the economic engine of the world anymore. And now it’s Asia. For those of you that don’t believe me you’re gonna say Greg is wrong because I know I’m going to hear that before you make yourself look silly.

Okay. I don’t want any of you to look silly here. Verify what I say. Verify everything that I say. All right. Don’t believe anything that I say to you. Verify yourself. And if I’m wrong, call me out on it. Okay. And tell me where I got it wrong. I’m willing to learn man. I really, really am me sitting here as the batty lion. It is my job and my responsibility to give all of you actionable information and provide solutions. We know these solutions are not going to happen.

All right. With regard to the economy, with regard to the promises of lower rates, which of course means a weaker currency exactly what the Fed’s game is. We have two puppets here selling you the same plan and they’re both telling you the same thing. We need to bring manufacturing back to the United States. Yeah, I’m all for it. Bring it all back. No one wants our products anymore. There’s not enough orders now for the existing factories. How do you think this is going to play out? You really think that either one of their plan is going to bring jobs back here to the United States with a global economy that’s contracting.

Those jobs are gone. This is propaganda. We’re not adding any jobs. None. Zero. The numbers from today. This is fake. And this will be revised. You know that this is fake. You are being propagandized. Imagine our shock. You’re being lied to. Imagine your shock. There’s no truth here in this environment. And none. It’s all just an illusion and it’s all propaganda. We’ve seen this before people. This is the fall of an empire. It ain’t pretty. Love you all from the heart. I mean that. You got something out of this video? Let me know.

You didn’t? Let me know that too. All right. I got your back people. I got your back all ways. If there’s one thing, one, that you can count on from being a member of this worldwide family is I will work harder than I am now to make sure that every single one of you understands what’s happening here and is able to realize the action that you have to take because we are being exterminated like bugs. You are a means to an end, people. And I’m going to let I refuse to let anyone fail.

It’s not happening. You don’t even understand how committed I am to this. Under my watch, this lion here, there’s no way I’m letting that happen. I will see all of you later. 4 or 5 p.m. for the livestream people. We got this. All right. Love you all. Until we meet again, please take care of yourselves and each other. [tr:trw].

See more of Gregory Mannarino on their Public Channel and the MPN Gregory Mannarino channel.