Okay, everybody, here we go. It’s me, Gregory Mannarino. Friday, May 10, 2024. Pre market report. Some pretty big goings on here. Before we get there, though, I want to start off with the basics here. So this morning, what this looks like, the setup for the market. Ten year yield bond market, pretty steady. Nothing major going on here. The dollar on a relative strength basis, slightly stronger. Stock futures are slightly higher.

You got bitcoin, cryptocurrencies catching a bit here. Gold and silver doing well this morning, catching a bid as well. And crude oil is higher. All right, so that’s the setup for the market. But here’s, here’s where you might find some of this more interesting. So anyway, with regard to the treasury market, we got some bad news yet again on the US labor market, which is weakening. Imagine my shock.

Imagine your shock. Well, it gets a little shocking because we just got a second. This is the second freak from the Federal Reserve to admit that the economy is slowing. This is bostic. Economy is likely slowing. Duh. Of course it’s slowing. People, let me just. We all live in the real world, huh? And I want to hear from you on this. So there’s a few restaurants out here where I live that I go to quite frequently, and I’ve been noticing a trend here.

Fewer and fewer people. I went out, I think it was last Saturday, to a kind of an upscale place out here. Was dead, absolutely dead. I couldn’t believe it. So you can see this in real time. The mall out here, the UTC mall. Well, I was there a couple days ago, dead. Nobody’s there. Most of you know that I bought a new Dodge Challenger 1320 just a couple of weeks ago, and nobody in the dealership.

I’m talking to the sales guy. I’m like, what’s going on over here? Are people buying cars? He’s like, we’ve really seen a drop in sales. People are being lied to. And we have more to talk about that on an epic scale. We’ve been told how strong our economy is, where the envy of the world, according to Biden, Stein, freak show president, that we have. Not really a president or anything else, is he? But that’s besides the point.

But yeah, no, it’s. The truth is, you and I, we live in the real world. We’re seeing what’s going on here now with regard to. This is pretty interesting, and I want to hear from you on this as well. So let’s just put this together a little bit here. You and I have been told by the Federal Reserve, by our policymakers, how things were temporary and inflation was transitory and it was just going to go away.

And we also understand that every single projection that’s been made by the Federal Reserve with regarding inflation has been wrong. Either they’re all brain dead, which I don’t believe is true. I think they’re very sly, all right. They know what’s going on here, and they’re feeding us fake information. Now, here’s a really unbelievable example of projections that a single projection here that was made by the Federal Reserve, and the new projection, which I think you’re going to love.

So right now we have food inflation rising at its fastest pace since 1979. Now, according to the Federal Reserve, back in 2023, when people were like, oh, my goodness, what’s going on? Food inflation is out of control. The Fed had projected that this year in 24, they expected to see food inflation fall. That was their projection. It’s been totally wrong. They have a new projection that I want you to know about.

It’s insane. They are saying that they expect now that in 2025, food prices are expected to fall. Look what I wrote. Really? Really? Really? Is that, what is that? What’s going on? How many of you believe, let’s put this up to a vote here. How many of you believe that this new projection is going to be right this time? It’s going to be a miracle. Every single projection by the Fed has been wrong.

Everyone. They’ve been wrong 100% of the time. Now, we’re supposed to believe that come 2025, food inflation is just by some miracle going to get better? No, this is, to me, this is a clear sign that not only do they know for a fact that food inflation is going to continue higher, but it’s going much higher. People, look, we are being duped. We are being lied to. We are being set up on a grand scale, and you all know that.

But again, please, someone who’s smarter than me, and this is everybody that follows this blog. Honestly, tell me, why is it really, in your opinion, why is it that there is zero accountability here? Why isn’t the Federal Reserve being held to account, but what they are doing is pointing their fingers. Oh, it’s the millennials fault. Why we’re seeing inflation, it’s baby boomers fault. Why we’re seeing inflation. All this debt is being passed on to the new generations.

It’s not the Federal Reserve’s fault. Oh, it’s not our loving, caring representatives fault, because they’re all doing the right thing. Let me, let me say something else here. Real quick if we know, and you and I have known this for a very, very long time. So we got an admission here by bostic about the economy slowing. We got one just like last week from another Fed president. The economy continues to free fall.

That was jobless claims, okay? That actually came in highest level in nine months. And then we got the labor market here weakening as well. So we have an economy which, by their own numbers, not even. What we happen to know, okay, is contracting and contracting and contracting. Why is it that the Federal Reserve, over the last six months alone, you know what I’m going to tell you, has been adding nearly a billion dollars per day to, to the money supply.

What are they doing? They’re inflating, as you and I would have expected them to do. It’s not going to stop. Now. This, I want to say something else, too. We’re coming up on a presidential selection. You all know that, okay? I would be willing to go out on a limb here a little bit and say that we’re not going to see a major false flag event. I could be wrong on this, but I think they’re going to try to keep it kind of quiet.

They don’t want people thinking about war spending for war. They’re going to hide all this stuff here. You’re probably going to hear even things like, for example, oh, we’re not sending weapons over here because we don’t like what’s going on. It’s nonsense. It’s a lie. Of course we’re going to continue to do that. And I’m referring to the United States sending weapons to Israel. A lovely, illustrious, beautiful man of a president said, oh, you know, we’re going to stop sending weapons to Israel.

But then there’s a whole bunch of caveats here. If this, if that, if this, if that, we’re not stopping anything, okay? More weapons are going over there. More funding for war is going everywhere, including Ukraine. And who’s paying for it? You are. You see, but again, what you’re not being told is this is massively inflationary. Where does the cash come from? We don’t have it. We don’t have a weapons cache of cash anywhere.

Sure, we may have a stockpile of weapons, but we don’t have extra cash laying around here to fund anything. It has to be created magically out of thin air. And of course, these weapons that we send have to be replaced. Where does that cash come from? The Federal Reserve. We don’t have it. We are the most indebted nation the world has ever seen. And our debt continues to surge out of control, debts and deficits ballooning.

Imagine my shock. Imagine your shock. This is something that we’ve been speaking about, like since forever. Anyway, look, I want to hear from you on these things. What do you, what’s your take on the admissions here from the Fed about the economy slowing? The second one in about a week or two, labor market slowing here. Jobless claims jumping to the highest level in nine months here, food inflation.

This is the biggest one that I want to hear from you about. Again, the projection was from in 2023. The projection was that in 24, food inflation was going to fall. Meanwhile, we’re rising at its fastest pace ever. We’ve ever seen. Forget about 1979. We’ve never seen anything like this before. And now the new projection that in 25, yes, 25 is the year where prices are expected to fall.

With regard to food, I would be willing to say that not a single one of you, not one believes that we are going to get any relief across the board with regard to inflation, especially food inflation. You have to understand, they want you hungry. They want you in a state of fear, a state of panic. What better way to do that than to starve you? This is something you and I have spoken about a long time ago.

They’re going to attack the food supply, the food supply chains. Food inflation is going to get much, much higher, worse from here. Inflation overall, much, much worse from here. The pressure on the middle class is going to increase. What are they doing? They’re creating slaves to the system. Dependency on the system. This is part of their plan here, to bring us all to our knees. Okay. It’s an astonishing thing to see 74% of you who follow this blog, 74% of you said that food inflation, food inflation is affecting your lifestyle.

Well, it’s going to get worse. There’s just no way out of it. So understand where we’re going here. They’re setting us up. This is deliberate. They know where this is going here, but they’re going to look for scapegoats. Of course, it’s the millennials fault, it’s the boomers fault, it’s the war’s fault, it’s whatever it is, it’s not the fault of the Fed. It’s not the fault of our loving, caring representatives or any freak sitting behind the resolute desk.

You can clearly expect, no matter what freak they put behind the resolute desk, that we are going to get rapid currency devaluation moving forward, which means your purchasing power is going to be sucked out even faster. This is their end game, people. This is their end game. And again, like I said, what better way to cause people to suffer than to make food inaccessible to some? But you have to become dependent on the government to access, to have access to that.

Don’t you understand? Do you see what’s happening here? I hope you do. All right, people, look, as usual, I’m going to ask for you to please share this video. Get it out there, give this video a thumbs up. Let people hear this stuff. I’m counting on you for that. This thing we’ve created, we’re making a positive difference in the world. I really believe that. And we need each other, right? More than ever.

All right. This guy here loves you a lot. I will see you later. Full 05:00 p. m. . Eastern. Until we meet again, take care of yourselves and take care of each other. Bye. .

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