It’s time for the Overnight Open Thread.

There is no doubt in my mind that the globalist elites are trying to wreck the economy by talking it down. Endless bad news wherever they can find and then this happens. OOOPS! no one told the businessmen and factory managers that they weren’t supposed to hire anyone because ORANGE MAN BAD!!!

Hiring is a forward looking, leading indicator. The boots on the ground aren’t listening because GREED IS GOOD. We may soon run out of workers tho, as the pool of available workers shrinks. It’s been shrinking for almost 3 years now.

And then, they forgot to tell the consumers about the DOOOMMM!!!! Meanwhil, the consumers (workers) are taking home more money.

Consumer sentiment remained unchanged in late July from the mid-month reading, with all component questions showing only small and offsetting changes. Economic confidence has been remarkably stable since the start of 2017, despite ongoing trade uncertainties. The resilience displayed has been primarily due to a renewed sense of personal financial optimism. Indeed, recent surveys have recorded the most favorable net personal financial expectations since May 2003 (see the chart). Positive job and income prospects, gains in net household wealth, and low inflation have bolstered optimism. At present, consumers do not anticipate a rapid acceleration in income growth rates, nor do they expect significant changes in inflation and unemployment rates. Consumers have not ignored mounting policy uncertainties as they have begun to take precautionary measures to increase savings and reduce debt. Favorable buying attitudes toward homes and vehicles have significantly receded from their cyclical peaks despite declining interest rates. A key issue is whether the recently announced tariffs on Chinese imports, covering more commonly purchased consumer items, will spark an even more cautious outlook. Aside from its direct impact on spending, the much more important issue is how much it lessens overall consumer confidence.

PMI is still positive.

All of the news is about the stock market and esoteric yield curves. There is some academic thought that the yield curve inversion won’t hold up in low interest rates. but I won’t bore yinz to tears with that. Also, this is driven by foreign demand for US dollars. The US economy is seen as the best bet in the whole world.

The overnight pre-markets are all positive as of right now. I didn’t touch any of my investments becasue I simply do not beleive that we are headed for a recession..2 consecutive quarters of negative GDP growth. This is the big bet…retirement money.