Just to push this point home, just a couple of things just from this morning alone yet again. So mortgage demand falls to a near three decade low. That’s just lovely. The federal budget deficit is expected to double this year alone. Imagine my shock. Imagine your shock. Okay. And inflationary pressures across the board continue to rise. So I don’t know about you, but when I hear some big lofty company like BlackRock who pretty much runs everything along with the Federal Reserve, they’re admitting they have admitted that they’re buying the debt.
They’re buying the debt. Where are they getting that cash from? I’m going to give you one guess. They have a direct line to the Federal Reserve here anyway, so, yeah, just be ready. Don’t listen to Greg Manamino anymore. No, just forget about me. Him greg Manamino, whoever he is. Listen to BlackRock because they’re telling you that you got troubles moving forward. What do we got? Everything we look at here and the economic news just keeps tumbling in worse than the previous set.
And this has been what’s keeping this market, believe it or not, from falling through a black hole in the floor. There’s no safety net. This is not Greg manorino. This is Morgan saying that there’s no safety net under this market. Let me let me just put another perspective on this. I don’t believe yet that they’re done. And I’ve been telling you this over and over and over for months now.
This market has indeed fallen under pressure for the last now going on five weeks since the MMRI crossed 250. You know, my hat has to come off. Here to Michael Burry for taking up his bet against the market. It seems like it’s paying off for him. But as I was saying, I don’t think they’re done. I could be wrong on this, but I think more easy money is going to pour into the market, into the economy, fostering the illusion that things are much better than they are.
People are very gullible. They will believe most things that have no bearing on reality at all here. So I think if the illusion of the market is kept real, people will forego a lot of things. For example, inflation rising across the board, energy prices, which got nowhere to go, but much higher here we’re watching some pretty incredible moves as of late with regard to crude oil. And that is going to bleed off into so many things for everyone.
That plays right into what we found out this morning that inflationary pressures continue to rise, and this is not going to stop. Let me ask you, okay, so you and I, for I don’t know how many freaking years out here have talked about how debts and deficits are going to balloon, balloon, and then balloon even more. So again, right? News this morning that the federal budget deficit is going to double this year.
How does that play into inflation? Well, who makes up the difference here? You think we just run deficits and deficits and deficits? No, it has to be made up by an entity. And I’m going to give you one guess who that is. It’s the one entity who is striving very successfully to drive the economy into the ground and crush the consumer so they can become the lender and buyer of last resort.
This is the goal of every central bank, people. These institutions are the enemy. It’s not you. It’s not me. It’s not the people in the red camp, the blue camp, the color of your skin, whatever it might be. It’s all the central banks who are fostering an incredible turn of events here. And this is only going to get much, much worse moving forward. So let’s look over here at the market.
We got risk in this market. We are very close to extreme levels. You all know that. Ten year yield is relatively stable from yesterday. We need to keep our eyes on that. The relative strength of the dollar is lower this morning. The MMRI is about 275, 276. It is now 08:10, a. m. Eastern Daylight Time. This can change. Speaking of change, stock futures right now are lower. Okay? Nothing major, but lower nonetheless.
We’ll see. Yesterday’s market sell off wasn’t anything dramatic, but the market did close. Lower as risk continues to climb, as the worry of inflationary pressures continues to rise. Like I said, this market is so twisted, it sincerely believes that the worse the economic news is, the more likely it is that the Fed is going to pump it all up. And that more than likely is going to be the case here.
And who’s going to pay for all of it? You are, as always. This is just always the same story. It doesn’t change. Stock futures lower, as I said, relative strength of the dollar, lower. Ten year yield, relatively flat. Crude oil, slightly lower this morning after run high up to like 87 yesterday. Brent crude broke 90 yesterday. And we’re not done here at all. Just keep your eyes on all this.
You got cryptocurrencies flat to slightly under pressure. Gold and silver, the same thing. Okay, lovely. Fantastic, beautiful. And we all know this already. People, look, I don’t care what they try to do to you and me. I really don’t. I believe, at least from a financial standpoint, maybe from a bigger standpoint as well. You and I, we’re on the same page every Friday. Love each other, care about each other, be charitable.
This is how we’re going to get through all this understanding that debts and deficits are going to balloon again. According to the news this morning, the federal budget deficit is going to double this year alone. Do you think the debt, the global debt issue is going to get any better moving forward? No, it’s going to balloon. Balloon moving forward. So what does that mean for you? Betting is the debt.
People, become your own central bank. People, you know this, Greg’s, favorite asset on the planet. Silver. Silver. Silver. Become your own central bank. I don’t know the way to put this here. All of these things that have been set in motion right now, they’re only going in one direction. Just like economic indicators pointing lower and lower and lower every single month, we are definitely moving into something that is yet to be defined.
We’re already in a recession on a grand scale. With regard to moving into a depression. I think we’re very close to that too. And then something much, much worse moving forward. No doubt about it. And it will not matter. Whoever understand what I’m about to tell you, whoever gets the seat behind the resolute desk and that person has been chosen already, you have no say so. Zero. Whoever that person is, is someone that they know is going to play the game.
With regards to central banks, none more so than the Fed. Empower the Fed, bring the Fed higher up to that truncated pyramid that you see on the back of the dollar. Look, they tell you right in your face what’s going on here. Lower for longer rates here, weaker dollar, all this stuff. More spending on incredible things that you can’t even dream about moving forward as well. Just so be ready for all this.
People don’t think for a moment that things are going to change for the better because they’re not going to. Collectively, it’s the central banks who run the world. They run the economy, they run the financial system, they run the financial markets. I’m going to drill this point home over and over and over again. Once you understand that and you realize you have no representation at all, the more likely you are to understand the current situation, where we’re going and why we’re going there.
Why is this happening? Because central banks have been on a mission for over 100 years to do exactly what they have done now here. And this is going to play out to, I think, honestly, I hate to say it, but a world population that will be vastly lower than it is today. This is all about control. Along with the central bank digital currencies that are coming and people are lining up.
They’re lining up like sheeps to the slaughter, allowing this to happen to themselves as they are made dependent on the system. This dependency on the system is something you and I have spoken about for how long now? Ten years. That’s what they want, people dependent on the system. Slaves to the system. Anyway, nobody knows this better than you. All right, people, so what do you think? Mortgage demand hitting a 27 year low.
Federal budget deficit expected to double this year. BlackRock warning of economic shocks ahead. Really? And inflationary pressures rising how many of you really with the show of hands? Because I can see you are at all surprised. I don’t think any of you all right, people, look. This guy here loves your life from the heart. I mean that. Let’s all regroup for the live stream. 400 and 05:00 p.
m. Eastern Daylight Time. I always messed that up. I’m still in, like, West Coast time here. Anyway, I’ll see you then. Have your questions ready for me. Please share the video comment. Those thumbs up are super important. I will see you later. .