Gregory Mannarino-Economic Data Shows Obama Peddling Fiction (Video)

Gregory Mannarino-Economic Data Shows Obama Peddling Fiction (Video)

 

Published on Feb 7, 2016

 

 

 

 

Financial analyst Gregory Mannarino says, “This is going to make the 2008 event look like child’s play. We are going to drop lower than we did before. The Federal Reserve is out of ammo. The Fed can go negative interest rate. Maybe it will put a temporary bottom in this market, but it’s going to hurt the people. There is no doubt about it, the economy of the world is slowing. The U.S. economy is slowing. You can look at metric after metric, Baltic Dry Index, GDP numbers just missed the mark and manufacturing numbers also missed the mark. You can just go on and on and on. I don’t know what kind of proof people need to say Obama is peddling fiction. We are slowing down, and people are going to get hurt here, and I mean hurt badly. It will be way worse than the last meltdown, and this event will not bounce back like it did last time.”

In closing, Mannarino warns, “Bond yields are screaming, and the bond market is warning every single one of us that something is very ugly, and it’s right around the corner. Everybody is going into bonds because it’s the safety play, but the debt is worthless, and at some point, even the bond market is going to price to fair market value. It’s a situation of extreme danger across every single asset class.”