Its Happening Worldwide. ECONOMIC DISASTER ON A MASSIVE SCALE. PEOPLE ARE BEING DESTROYED | Gregory Mannarino

➡ Gregory Mannarino is questioning the claims that our economy is strong and resilient. He points out that home affordability is at a record low, meaning average people can’t afford to buy a house, and that various types of debt are at record highs. He suggests that the government is creating a dependency on the system and that a revolution may be needed. He also criticizes the Federal Reserve and its influence on the market.

Okay, everybody, here we go. It’s me, Gregory Mannarino. Wednesday, April 3, 2024. This is my pre market report. Let’s talk, you and me. Okay, so we have been hearing a common theme across the spectrum of propaganda ministries. I’m talking about CNBC, Bloomberg, Fox Business, our illustrious, beautiful man of a president, and everybody else about how resilient our economy is, how strong our economy is. As a matter of fact, our beautiful man of a president said during the state of the union that our economy here is the envy of the world.

Okay, beautiful. Well, how is it that. Explain this to me in a way I can understand as if I am a small child or like a cocker spaniel. How is it that right now, today, home affordability has hit another all time historic record low? In other words, the average guy or the average girl making an average salary cannot afford to buy a home. What does that tell you? Does that sound like a booming economy, a resilient economy, the envy of the world? Again, you want to play off of that? What do we got? Household debt, personal debt, consumer debt, credit card debt, all this stuff.

Record highs across the board, people who cannot make ends meet. Inflation risk continues to rise. Does this sound like anything like the lies and the propaganda that are being spread right now? I don’t think it does. And I don’t know about you, but that bothers me a lot. We cannot get a shred of truth today at all. As I’ve been explaining, this is almost like an environment where, well, it is like where we only have each other, seriously to rely on.

We have no representation at all. This is a freak show of the highest possible order. And I make fun of it a lot. Yesterday during my post market video, I was showing you pictures of some of the characters in this freak show, but every single thing is angled against you right now. So what we need to continue to do here is flip the tables, again, understanding the current situation, what’s happening to us, and again, what we need to do about it, which may be the most important thing.

We need. Honestly, we need a revolution. We need a revolt here, but not what, not the one that they’re setting us up for. What they want to set up is a violent revolution here so they can steal more of our liberties and freedoms away. And we’re going to get that, I believe, during the presidential selection here, that’s what they’re doing. They’re creating structures, strife between people, building up more hatred between the right wing and the left wing.

Both wings are part of the same bird here, trying to make you believe in a system that no longer exists. But again, that’s what they’re doing. They’re giving the people enough rope to hang themselves, period. The end here, and this whole mechanism, as you are well aware of, is just a way to extort more control out of all of us. And we have legions of people willing to surrender it.

And that’s what’s happening here, as you and I have outlined for I don’t know how long. What are they doing? Creating dependency on the system. Slaves to the system here. People can’t survive, but they’re being told how strong our economy is, how rich we all are. People don’t know what’s going on anymore. It’s a very sad state of affairs. Repossessions across the board are rising. Home foreclosures rising.

All war is expanding. You’re watching crude oil on the back of expanding. War keeps going up and we haven’t seen anything yet with regard to that. The pressure that people are being forced to deal with right now is becoming too much and they’re starting to crack. This is what they want. Everything is coming together right now and it all seems to be reaching ahead. This is why. Why I’ve been saying that.

I don’t think it’s going to be this year. I really don’t. But 2025, after the presidential selection, we may have, it may turn out to be a game changer on a massive scale here, but we’re going to keep on top of it as always. But for now, we need to continue doing what we are doing if we realize the situation here isn’t what is being told to us at all.

Okay. It’s pretty obvious if we understand the mission here of what central banks are doing. Inflating. Speaking about central banks, we’re going to hear from this supreme freak of freaks today. I’m talking about Powell puke thing, vomitous mess that he is. The market’s waiting to hear what’s going to come out of its mouth. The market and all of us are slaves to what this thing says or what his organization, the Federal Reserve, or central banks around the world are doing to all of us here.

It’s incredible thing. It really, really is. But right now, the market is kind of doing nothing this morning. We’ll cover that in just a minute. But that’s what’s happening. The market is waiting to hear what’s going to come out of its mouth. Imagine that. It’s going to move the market, whatever comes out of its mouth. Later on today, he’s going to give this speech, his big, illustrious, beautiful speech here, and we’ll cover that later during the post market report.

What came out of its mouth, it’s all going to be lies, more lies, more propaganda, more absolute distortions of the truth. Okay, imagine my shock here. But anyway, on the back of that, just let’s see how that plays out. But with regard to the market, nothing’s going on. Stock futures are flat. Silver is putting on gains right now on top of the 4. 5% rise yesterday. Something along those lines.

Gold’s getting bit higher, crude oil is getting bit higher. Dollar isn’t doing too much here. Bitcoin crypto is relatively flat, kind of a holding pattern, waiting to see what’s going to come out of its mouth later. Now, risk in this market, let’s talk about that. A lot of you been writing to me. I opened up my email box today. Greg, are you watching this? Greg, are you watching that? Greg, are you seeing the MMRI, the manarino market risk indicator? It’s 285.

And again, this is something that’s free to every single one of you. Please take advantage of it. Link in the description of this video, it could not possibly be easier to use. The market seems to be a little unhappy with where risk is right now. The debt market sell off, which we’ve been covering, the spike in the ten year yield, I don’t think it’s going to last. I really don’t.

I think a miracle, a miracle is going to occur. A mystery buyer is going to jump in here. It’s going to be the Fed. They’re going to start buying more debt, propping up the market. It’s the illusion of the market, remember, and try not to forget, we’re in a presidential selection cycle. The illusion of the market is a very powerful thing. People forget about everything else. Oh, I’m rich on paper.

I’m a millionaire on paper. You get it. And then when it all goes away, they wonder what happened. It’s always the same story. It will never change. So I fully expect that to happen. But going back to this, we have the MMRI sitting at 285. That’s 15 points away from extreme risk. Right now we’re in a high risk environment. The markets seem to be relatively comfortable at like 200 6270.

Right now you can see what’s going on here. But again, look, this thing, this twisted market that we are in, it makes no sense. There’s no price discovery mechanism behind any of it. Right now, it’s all about the promise of easy money. These distortions are so extreme. And there’s going to be a terrible price to pay for this. But you and I, we’re diversified, we’re spread out here.

We’re taking advantage of everything that we possibly can because we have to. We must do this with regard to betting against the debt and becoming our own central bank. I would be willing to. At least I hope so that every single one of you are listening to me. Own some of this stuff here. Some of it at least. This my favorite asset of all time, silver. You know that here.

But if you have the ability to get somewhat more diversified, I think you should still be long this market. I think you need to be looking for opportunities to buy more of this market. Dividend paying stocks, cash flow. You need to generate that kind of stuff here. I still believe you need some crypto in your portfolio as well. You know this. I cover it every freaking day with you.

But that’s where we are. You have to understand what’s happening, okay? The lies, the propaganda and the reality of it all is just an incredible thing to hear that home affordability is at a record low. Meanwhile, we’re being told how amazing everything is. I mean, does this, you can just, you can see what’s happening here. The deceptions, the distractions. All this stuff that you and I have covered about mortgage demand continuing to drop.

I mean, it’s a terrible thing here. You know, talk to a, talk to a mortgage broker. How about Chuck Barone, my friend and yours? Chuck Barone, right. He’s a mortgage broker. I’m going to put a link to Chuck’s channel in the description of this video. Ask Chuck how the mortgage business is doing right now. It’s just part of the, the environment that we are in. People are being destroyed.

They’re being destroyed and they’re being destroyed by design. And look again, as I’ve been telling you, we must, must, must stay ahead of the curve on this. We have to, we have to look for every single opportunity to turn the tables on those that are seeking to destroy us. And that’s what this is all about. In my view, this channel is not about gloom and doom. It’s about understanding what’s happening and then saying, okay, what is our counter strategy to the problem? The ultimate counter strategy is betting against the debt.

Becoming your own central bank, holding hard assets, gain the exposure to commodities. I can’t stress this enough. This risk, this engineered risk on environment is going to change to risk off. And as you all know, cash doesn’t grow. Little cute money wings and flow fly away. To money heaven. It just moves from one reality into another. So you and I are putting ourselves in the right spots right now.

This is what we need to do. You understand? I hope you do people because I am trying my hardest here to make this easy for all of you and break this down anyway. So check out Chuck’s channel. Ask Chuck what it what it’s like right now if you don’t believe me. With regard to what’s happening here, with regard to mortgage demand and home affordability. Hitting a new record logan link in description of this video I want to thank all of you that helped me out with my Instagram.

I was just too followers away from hitting 2000. I got a couple hundred more. So I thank all of you for that. I hope you check out my Instagram again link below. A lot of fun stuff. Drag racing. The Robin Hood of Wall street goes drag racing. Lots of cool videos there for you. I hope you check that stuff out people. Look, I love all of you from the heart.

We got each other’s backs always and with that I will see all of you. 430 I’m sorry. 04:05 04:05 eastern time for for my live stream. I hope to see you there honestly. And until that time, take care of yourselves. Take care of each other. See you later. Bye. .

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