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b'Recorded July 2, 2019
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\\nSee Peter at the Las Vegas Freedom Fest \\u2013 July 17-20
\\nhttps://www.freedomfest.com/
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\\nMarkets Worried About Slowing Domestic Economy
\\nIf you just looked at the U.S. stock market averages, you would conclude that not much happened today, but you would be wrong. Even though the S&P and the Dow and the NASDAQ were only up about a quarter of a percent, or maybe .3% - pretty small days.\\xa0 Although, as has been typical recently the Russell 2000 was down .6% and the Dow Transports down .8%.\\xa0 So the market, contrary to all the hoopla that\\xa0 you hear about how great the U.S. economy is, the markets are more worried about the slowing domestic economy than they are the global economy.
\\nStrongest Economy in U.S. History?
\\nIn fact, the Cheerleader-In-Chief, for how strong the U.S. economy is, of course, is Donald Trump. He is constantly up there tweeting about how strong the U.S economy is.\\xa0 In fact, today, he proclaims that we currently have the strongest U.S. economy in history.\\xa0 Now, I remember, when he used to tweet about h0w strong the economy was, that we had the strongest economy in history, he would say, "Oh it\'s probably the strongest economy in history\\u2026" I mean he would qualify it a little bit.\\xa0 But now, no more qualifiers.\\xa0 He is emphatic. Without a doubt, this is the strongest economy is U.S. history.
\\nFake News
\\nOf course, I don\'t like hypocrites.\\xa0 One of the things that Trump does, is he calls out the media for spreading fake news. The problem, is, he spreads fake news, too. When he is talking about how we have the strongest economy ever, that\'s fake news! So you can\'t live in a glass house and then throw stones and that\'s what the President does.
\\nMore Weak Numbers
\\nIn fact, if you look at the economic data that came out this week, the data was weak!\\xa0 The ISM manufacturing number and the PMI number were weak . In fact they weren\'t as weak as they were expecting, but they were expecting weak numbers and we got weak numbers. Just not quite as weak. Although, the construction spending number that came out yesterday was considerably weaker than had been expected. Now, the Atlanta Fed is still at 1.54% .
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