➡ President Trump has increased tariffs on India by 25%, making it a total of 50%, due to India’s oil purchases from Russia. This move is seen as hypocritical as Trump is also sending billions of dollars to Ukraine. Additionally, a potential $600 billion investment pledge from the EU to the US is falling apart as it’s based on voluntary commitments from private companies, not enforceable mandates. The author also encourages readers to join the ‘freedom platform’, a community dedicated to making a positive difference in the world.

Okay. Here we go, everybody. It’s me, Gregory Mannarino. Wednesday, August 6th, 2020. Post-market wrap-up. And we’re going to do that. Let’s start off with this market, man. I hate talking about it. I really do. Because it’s another clown show. Another segment of it. Every freaking day, the disconnect between reality and anything else just keeps getting more extreme. The promise of easy money, currency devaluation, and economy, and free fall, fake trade deals and things you can’t even imagine are going onto the surface. I mean, you wouldn’t know it if you followed a single mainstream media outlet. They’re going to tell you how great we are, especially if you listen to a Fed chair or a person out of the Fed or the President of the United States.

We couldn’t be doing any better. Fact of the matter is, you know what? Let’s just cut right to it. With regard to the market, a relatively flat day. Some gains for the major indices. Okay, nothing you want to go crazy about. It’s a 10-year yield, which is the tell. It ain’t going nowhere. You’ve got the Fed buying it all. You’ve got the Treasury buying back their own debt with a main line to the follow-up. It’s a vast debt expansion. The market could continue higher as long as they keep rates suppressed. It looks like they’re going to kill the currency, which means you are going to deal with a much, much higher cost of living moving forward as they foster the greatest wealth transfer scheme the world has ever seen.

And we’re talking about the Cantilon effect, and this is the real reason why you’re hearing calls for a weaker dollar in artificially-suppressed rates. It has nothing to do with trade. First of all, we can’t even pay the interest on the debt anymore. And what are they doing? Instead of finding ways to cut, we get something like a big, beautiful bill, which is going to add now not $3.6 trillion to the debt, but $4.1. The initial math was a little off. But the revision is always revised. It turns out to be more of a nightmare. And if you think those are the real numbers, well, I guess you’re really disconnected from reality as much as this freaking stock market is.

With regards to the dollar lower today, cryptocurrencies are catching a bit. Gold and silver aren’t doing too much. Crude oil down about a percent and change is nothing major going on at all. But look, I want to cover this because we’re seeing a phenomenon here that, again, it’s turned on CNBC, Fox Business, Bloomberg, nothing. The silence is deafening because here’s the deal. Now that President Trump fired the head of the BLS for reporting on abysmal economic news, which was the way it was presented was way better than it actually was. If the numbers weren’t fake to the upside, you can only imagine.

So you’re not going to hear from anything. I mean, I can’t only imagine how this is going to play out moving forward. You got Fox Business, CNBC, Bloomberg. They’re all afraid to talk about the numbers because President Trump may censor it all. Again, MAGA people, you don’t like censorship. You like free speech, right? OK, even if it’s fake to look good. Where are you? You got your thumb in your ass. Sorry. OK, that’s a fact. Pull it out because it’s disgusting. And you got to get with the program. I’m calling you out and calling you in.

So this is this is this was yesterday. And I want to talk about this in more detail because we are getting broad based losses with regard to unemployment here. But that’s that’s not even the kicker. The kicker is the standouts. And I did a full breakdown on this for you. And I want to cover that. So this is the headline here. U.S. services industries employment. U.S. service industries employment still declining amid weakening jobs market. It goes on to say services saw service industry. So decline of employment for the second straight month in July. It’s been declining for longer than that.

But now we’ve just broken below 50 and below 50 with regard to the ISM is contraction. We are now you’re not even this number is abysmal. Forty six point four. So lies. Basically what this means is we’re not even the oldest recession talk. It’s a joke. We’re already there. What we’re moving into is something yet to be defined. Now I want to cover this with you in a few more things. So here we go. Lines economic indicators report. There’s almost not enough room here. The accommodation and food services industry saw the biggest decline in employment last month followed by mining company management support services educational services construction.

Public administration agriculture forestry fishing and hunting professional scientific technical service health care and social assistance. I say pretty much that’s everything. But the standouts here is what you need to pay attention to. There are there are several and I break down why. So let’s do this. So let’s break this down. U.S. service employment is now officially in decline. The ISM service employment index for July is forty six point four. As you already know anything under 50 equal contraction. That means the industry is contraction contracting along now with our industrial engine of factories or manufacturing. They’re dead dead.

Now the biggest declines in employment. I wrote here the standouts. If you do sub to the freedom platform this is in your inbox right now. By the way just real quick I’m only going to cover with these videos the headlines. I’m going to break them down for you shed light on them. But with regard to for example this is something that you didn’t get. You’re not going to get here either. It’s exclusive now to the freedom platform. There are going to all my work except for the headline stuff which I’m going to tell you what’s really happening with regard to YouTube videos is only going to be addressing headlines and stuff like that.

Like I used to do. So I really hope to see you guys over on the freedom platform moving forward. Link in the description of this video. So here are the standouts and why they’re I can’t I can’t just we’re across the board here with regard to declining employment and weakening jobs market but the standouts there’s only a few here. They’re the ones we need to watch. Now for those of you out here that study the economy you already know what I’m going to say which particular sectors are important. So let’s start off with the first one accommodation and food services.

This is the canary in the coal mine. Don’t take my word for anything I’m saying here. Greg could be lying to you could be making it up. Now why why is accommodation and food services the canary in the coal mine. These are the first ones to get hit go back as far as you want to go when an economy is moving into recession or whatever we’re at right now get to be defined moving forward. That’s number one. Number two mining and support services. This is tied to energy demand industrial investment weakness here suggests slowing production based activity.

OK that’s number two three educational services. This is alarming. Education jobs tend to be recession resistant. OK so this something’s going on here weakness here local and state budget pressure declining. Enrollment and hiring freezes. So that’s just three we’ve got a couple more for construction and indication that manufacturing which you know already overall is slowing another clear pre recession signal. Health care and social assistance when health care jobs fall. This used to be recession proof. OK it means deep structural weakness not just consumer tightening. Now public administration agriculture. This is interesting budget constraint. We all know that showing that even the farming industry is tightening its belt.

What have we known since forever. They’re going to weaponize the food and we haven’t seen anything yet. So we go on to say lions this data and that’s just these are the standouts. I couldn’t go over them all because it took pages and pages and pages but the standouts here tell us all that where we’re going is going to make a recession like a walk through Central Park eating an ice cream cone on a nice spring day. Lions this data confirms the slow motion unraveling of the real U.S. labor market despite manipulated fake government jobs reports fake to the upside but you’ll get fired for that.

That show low unemployment even with the the faking the core engine of service based employment is failing. This it’s not a recession that’s coming people. It’s something much worse. Sound about right you is Greg just making it all up. Read through the comments because some people are going to say Greg is just making it all up. Now let’s move forward here. We’ve got a few things going on here. As we know President Trump’s blanket tariffs are about to hit tomorrow pretty much across the board. This is due to failed the ability to not achieve his goals.

We were supposed to get one deal every day. We haven’t even gotten one comprehensive deal with regard to EU. You guys are going to say wait a minute. What about the EU. That’s falling apart. The deal is falling apart and I’m going to prove it to you right freaking now. So with regard to India this is very interesting and there’s a reason why I mean this is going to be across the board but there’s a reason why India is important. Trump raises India tires to 50 percent over Russian oil purchases. Now I wrote cannot have it both ways.

So this is why President Trump just hit India with 25 percent more tariffs. They were paying 25 percent. Now they’re paying another 25 bringing it to 50. So this is a report by CNBC. This is their words not mine. Trump raises India tires to 50 percent over Russian oil purchases. OK. President Trump implemented the additional 25 percent tariff on India days after he already imposed a 25 percent levy on the major trading partner. President Trump’s words. I find that the government of India is currently directly or indirectly importing Russian Federation oil. Trump goes on to say an executive order.

That he would be raising tariffs on India very substantially over the next 24 hours because they are buying Russian oil and he goes on to say are you ready for the kicker. They’re fueling the war machine. OK. But do remember that President Trump you don’t want this. I don’t want this. Nobody wants this is sending hundreds of billions of dollars of taxpayer money. Yeah yours to Ukraine. How does that work. So he’s President Trump is fueling the war machine. That’s OK. India buys oil from Russia fueling the war machine. That’s not OK. Very interesting. So let’s let’s look at this and I wrote briefly.

Trump’s tariffs on India now 50 percent over Russian oil purchase for supporting the war machine. OK. The obvious hypocrisy. Trump is funneling billions billions of taxpayer funds into weapons ammo drones and satellite intel for Ukraine. MAGA people. MAGA. Is anyone home. Are you home. Hello. Anyone in there. Again not calling you out calling you in. Speak out man. Come on. Last thing I want to talk to you about. This is about this EU deal. Well there was no deal. OK. The United United States anything imported here to the United States. You have to pay the tariff.

OK. They’re not paid by the nation’s President Trump wants you to believe that it’s a lie. They’re paid by the importers and those that’s passed on to you as an import tax period. But products going out to the EU. No tariffs. You really believe that EU is going to want our products. They’re going to jump for joy for U.S. products. You really believe that now. Honestly really. There’s no way you believe that. There’s no way anyone believes that people. The nation don’t want our dollar. They don’t want our debt. They don’t want our products. They don’t even want our president.

He gets booed when he goes overseas. Oh yeah. Have you noticed that. Anyway let’s talk about this this thing here. Trump is hailing the EU 600 billion investment pledge. Nothing was ever signed but it might never happen. It’s not going to happen and I’m going to tell you why. EU 600 billion pledge to invest in U.S. is already coming apart. Let me read this to you. Lions the EU officials are now stating that the 600 billion figure for potential investment in the United States as part of a trade deal is loosely aggregated from private companies. Stated intentions not enforceable mandates.

This isn’t Gregory Mannarino. OK. This is the article. These have no legal obligation. Government directive only. Or mechanism behind it. The commitments are entirely voluntary not controlled or guaranteed by any authority. I had a back and forth with one of you out here who were saying Greg doesn’t want to talk about this great deal with the EU that President Trump just he signed the deal to get us 600 billion in investment. It was all a lie. I told you it was a lie. It was a pledge. It means zero. Let’s move forward. Moreover there is no clarity on a timeline sectors or enforcement.

It’s coming apart right now. So what do we actually have here. We have this. We have nothing. We have zero. Yeah. Well we have actually we have one thing. I’m sorry. We have optics and we can go. We have a deal and I’m going to get sick. I have a pledge. A pledge. People in your life you couldn’t make this stuff up. That’s what we got here. Period. MAGA people. Where are you man. Where are you. Where are you man. You see Gregory Mannarino has no dog in the fight. I am neither a Republican nor a Democrat.

That’s why I beat the living hell out of Biden creature. And Trump is even worse. Even worse. The only thing he’s done was secure the border. The rest of it we are in an economic meltdown that makes anything else before it. Look just fine and dandy. Yeah. You can’t argue it because the reality is what it is. Period the freaking end. All right guys this in this kind of it. So that’s the story people. I hope to hear from you in the comments here and just wait. Wait till the trolls the bots the gamers. I do apologize for these commercials here.

I know they’re very distracting. Come on over to the freedom platform. No commercials. No AI screening. No censorship. No bots. No scammers. Just a unified community dedicated to something. And we are making a positive difference in this world. People cross me on this. This week alone. We are supporting two more organizations with very generous donations. I don’t want to talk about it too much here. Because it should be between you and God what you do. And we’re doing this together with the freedom platform. And I’m very very proud of every single one of you who are a part of that.

And not even talking about the year end party that we’re going to have. It’s all done. It’s all scheduled. You all know that. All you got to do. Join the freedom platform. One time. And you could earn points towards free subscriptions for life. But you guys stay here on YouTube. You’re going to miss out on so much. Like this one here. Look at this headline. Host reality system. Historical market and economic trends are no longer working. Several pages. I put out a few things like this every day. And I’m not covering it here anymore. This is exclusive now to the freedom platform.

Like I’ve been done. You guys can stay outside or you can come inside. Sometimes things require a commitment. Even if it means you’re going to be helping others by doing so. By paying it forward. Because that is the core of who I am. Paying forward people. Always. And if you’re given the opportunity to do something for someone else. Take it. Okay. Because that’s the source. Crying out. To you saying you know it’s time for you to take action. Anyway. Love you guys. I’ll see you in the morning. If you do sub to the freedom platform. Otherwise I’ll see you tomorrow night.

And I’m looking forward to getting more of you over on the freedom platform. Honestly we have something here. That’s beautiful. And I really want you to be a part of the people. Honestly. That’s it. All right. Let’s see. [tr:trw].

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