China In A Bull Shop!


China In A Bull Shop

Friday morning’s DOW futures are heavily in the red, and it does not portend well for the stock market. We’ve seen a 10-year bull market and some were saying the market could never go down, especially with the endless quantitative easing. Some said there was no other viable place for money to go, so the market would go up ad infinitum. A new paradigm of sorts. When you hear talk like that, it usually means the market has topped, but this bull just kept running up further no matter what.

Nothing could touch the Teflon market bubble. It’s a bubble that showcases unreasonable valuations (Tesla, for example), but the bubble kept inflating no matter what. Those that shorted it quickly turned into losers and were forced to cover—thus adding more fuel to a perma-bull market on fire.

It took China’s coronavirus to change all that. Now it’s a matter of just how much damage will be done. I’ve become accustomed to seeing the market always turn bright green after a few red days. Will Friday be the turnaround day? It remains to be seen and my crystal ball broke a long time ago, but it strikes me now that this market may not be just another buying opportunity.

Caution is advised.

—Ben Garrison

 

Dancing With the Devil


Ray DiLorenzo image

By  —— Bio and ArchivesFebruary 29, 2020

Re-Posted from The Canada Free Press

Dancing With the Devil

“When you dance with the devil, you don’t get to pick the tune.”Sherrilyn Kenyon

All you Democrats…you entertained the hard left, beckoned them, invited them in to your ‘big tent’. You thought you could use them, manipulate them, and control them. You thought they cared. You thought you were so cool, playing world-class politics, having a slick answer for everything.

You have been had and you deserve it.

You are about to be taken over by hard-core communists, led by a ne’er-do-well, odious, atheist, corrupt politician

You are about to be taken over by hard-core communists, led by a ne’er-do-well, odious, atheist, corrupt politician, having never had a steady private-sector job in his life. He spent much of his pre-political career collecting unemployment checks, thrown out of a hippie commune for not pulling his weight… had a brief stint as a porn writer, and voted against a crackdown on pedophiles and internet child porn as late as 2003.

He managed to convince the city of Burlington, to hire him as their mayor at the age of 39. In the state of Vermont yet, the ‘Freedom and Unity’ state. Doesn’t say much for mottos anymore.

He was more honest than you were. He never pretended to be anything else. He honeymooned in the Soviet Union, was smitten by Fidel Castro, and you still wanted him…or was it his supporters you wanted? To add insult to your injury, he is not even a Democrat. But, he says he is now. He is defining your party with every other Democrat candidate now trying to deny their socialist leanings except maybe Bloomberg whose comfort zone is to just pay cash for the office and get a receipt. I’m not that sure you disagree with the senator all that much, it’s just his candor you hate. A fine mess you’ve gotten into.

You Democrats have much to answer for, a chance to remedy past sins…slavery, Jim Crow laws, segregation…de jour and de facto, KKK lynchings, voting rights for blacks and women, voter fraud, a lousy education system, unrestricted abortion, open borders, free speech restrictions, the erasing of your history, fake dossiers. You enticed the poor and blacks with free stuff, absolving black fathers of any responsibility. It was never about people, was it? It was about votes and power. You beguiled many and kept them right where you wanted them…dependent on you in exchange for votes.

You are now scrambling to get rid of him, not the fictional Democratic Socialist, but the Marxist Communist sicko that you know he is. You danced with him and now you want to call it a night. The hard left he leads is aroused, smelling victory, and you think you can just dismiss them out of hand. Think again. It just might be too late. Your priorities for too long have been misplaced and you are now reaping the whirlwind

You’re in a panic and it shows

You will try desperately to attempt the ‘it’s not you, it’s me’ routine. But, the Devil will not let you go so fast. He will blow the trumpet to his supporters, of which they are now legion, and they will hear the charge. I will bet that you will continue your out-of-step dance lest you lose a large segment of your tent. You will play all sides, hoping for the best, leaving a nation wondering what you stand for. The dance could easily take you over the cliff.

Yes, you did have a brief shining moment, but it was a long time ago, and it has since been another downhill slide. You have long squandered any trust you had as a viable political party in this country. You need a winner and you finally realize it is not him, nor any other candidate you have to offer. You’re in a panic and it shows.

You have a choice…keep on your present course and face oblivion, or stop the nonsense, show the nation your loyalty is first to your country, and everything it stands for and come back home to the country you say you love.

Ready or Not, Hillary Clinton, Newest Newsie Coming Down the Pike


Judi McLeod imageBy  —— Bio and ArchivesFebruary 28, 2020

Re-Posted from The Canada Free Press

Hillary Clinton, coming podcastsGet ready for Hillary Clinton, ‘The Newest Newsie’.

Ever-insidious Hillary Clinton has found what she thinks is a new way to get in the public’s face in time for the run-up to Election 2020.

Proving that she got as much know-how as she did donations from convicted sexual predator movie mogul Harvey Weinstein, she’s getting ready to hit radio airwaves in late spring.

According to Politico, “The former first lady and 2016 candidate, known for her deep distrust of the media, is about to become the media herself.” (Politico, Feb. 27, 2020)

But not mentioned in the Politico account, some 95 percent of the media were in the tank for Clinton when she ran in 2016.  Not just mainstream support, including the New York Times and Washington Post, but social media Google and Facebook who tried but failed to push her over the finish line.

Hillary Clinton was “the media herself” long before seeking new relevancy with podcasts.

“The yet-to-be-titled show will be co-produced by audio giant iHeartMedia, which produces original content such as Will Ferrell’s “The Ron Burgundy Podcast,” and, through iHeartRadio, is also a major distributor for the biggest names in conservative talk radio.(Politico)

“They include a who’s who of right-wing commentators who have pilloried Clinton and her family over the years: Rush Limbaugh, Mark Levin, Glenn Beck, Ben Shapiro, and Sean Hannity.”

Only an arrogant Hillary Clinton, cheered on by feminists ‘You go, girl!’ chants” would think she could be a bigger listener draw that Limbaugh, Levin et al.

“But it was Clinton’s recent experience with two other famous interviewers that influenced the kind of show she wanted to create. Last fall, Clinton and her daughter Chelsea recorded an episode of Conan O’Brien’s audio show, “Conan O’Brien Needs a Friend.” They were promoting The Book of Gutsy Women, their co-authored collection of stories about women who have inspired them. (Politico)

According to “someone close to Clinton”, this is the coming show’s format:

“She wants to try to have a wider-ranging conversation that will be lasting, so you can listen to it in a year or you can listen to it tomorrow and it will be interesting. And then of course she’ll do some ranting and raving about news of the day.”

What about all of those who can only tolerate Hillary in small doses?

Fresh from the Believe it or Not Department:

“The other radio personality who influenced the format and style of the new Hillary Clinton show was even more unusual: Howard Stern.

“Clinton had avoided Stern for decades when she was in the White House, Senate, Obama administration and as a presidential candidate. She finally agreed to appear on Stern’s show late last year during her promotional book tour. It was scheduled to be an hourlong session, but Clinton quickly succumbed to Stern’s well-known skills at getting his guests to open up with a mix of flattery, empathy and emotional mirroring.

“Stern and Clinton ended up recording for almost 2½ hours, producing Stern’s longest interview for a non-musician in the show’s history.

“Clinton was unfiltered.”

“She joked that she “likes men” despite “what you may have heard,” discussed how Sen. Lindsey Graham may have suffered a “brain snatch,” complained that Bernie Sanders’ delayed endorsement in 2016 “hurt me,” and recalled that, when she phoned Trump to concede the election, “he was so shocked he could barely talk.”

“There is some irony that Clinton has gravitated to doing a podcast. As Stern repeatedly shows, what makes for a great interview is when a subject opens up and offers windows into character, motivation, relationships — the very things that Clinton the candidate was often unwilling to do. Her guardedness led critics to regard her as “inauthentic,” which arguably harmed her two presidential campaigns.

“Overall the project is guided by the spirit of Clinton’s recent media blitz: the Stern podcast, a recent podcast with David Plouffe in which she suggested that Tulsi Gabbard was being groomed by the Russians, and an interview with The Hollywood Reporter to promote a new Hulu documentary series in which she says of Sanders, “Nobody likes him, nobody wants to work with him, he got nothing done.”

“The show also continues the trend of former major political leaders, especially Democrats, becoming media entrepreneurs. After he lost the 2000 election, Al Gore created his own TV network and starred in an important documentary about climate change. Upon leaving office, the Obamas created Higher Ground, a multimedia production company whose first documentary, “American Factory,” just won an Oscar. If Trump had lost in 2016, he was reportedly prepared to start his own conservative media organization.”

But the fact that Clinton has never been able to believe is that Trump didn’t lose the 2016 election but won it.

“Another focus of the show for Clinton is to use the podcast to share good news about problems that are actually being solved rather than produce yet another regular conversation strictly about how the world is going to hell.” (Politico)

She’ll have to dig deep in order “to share good news about problems that are actually being solved” with Desperado, do-nothing Dems now running Congress where no problems are actually getting solved.

Meanwhile, the best thing about Hillary’s upcoming podcasts is that they cannot take you by surprise.  Like all podcasts, viewers have to specifically log in.

In other words, the best thing about Hillary Clinton’s coming podcasts is you don’t have to tune in on them.

Hillary When Asked If She Will Run Has a New Reply


 

The ECM & the Market Crash


QUESTION #1: Hi Mr. Armstrong,
Might the current correction be the set up for the long awaited slingshot move?
Regards,
BE

COMMENT #1: I just wanted to say thank you. I sold out on the ECM and bought puts on the market. You just paid off my mortgage.

God bless you!

HJ

COMMENT #2: Marty, you are the only person who has the guts to make forecasts in the middle of a panic up or down. Your calls are beyond belief. No wonder the big boys call you.

KE

COMMENT #3: Hi Martin. Do you think the Fed and other Central Banks will cut rates due to the coronavirus and/or the market decline?
Socrates really helped me avoid this correction and even make some money.

Thank you.
AG

COMMENT #4: Hi Martin,
I don’t recall you ever commenting on the NYSE Composite Index. Just in case you don’t know. The all time high for the NYSE Comp Index is January 17, 2020. Right in sync with the ECM turn on Saturday Jan. 18. Most peoples focus is on the indexes that are tradable. So it is understandable that most people do not know the NYSE Comp index synced up perfectly with the ECM.
Perhaps you could mention this on your blog when commenting on the US stock market monthly closing today.
This weeks BIG down move will only increase your legendary status as the worlds top financial adviser.
Thank you so much for the private blog post last Sunday giving everyone a big warning of what was about to happen this week. The high for the week in the SP500 futures was last Sunday night at the 6 pm open.
Big Time Move Martin. Thank you from the bottom on my heart.
Sincerely,
DP

REPLY: The #1 golden rule is simple: What goes up, also comes down! Experience is something we gain through life. It is not easily acquired. We must make mistakes in order to gain knowledge. If someone wants to become an analyst, you must be in the game a long time to learn the twists the markets will always throw at you.

In the New Yorker Article on me back in October 2009, they wrote: “Armstrong remembers him coming out of his office in September 1998, two months after he’d got short in front of the ruble crisis. Monica Lewinsky was on TV. ‘My oscillators just turned,’ Armstrong announced. He booked his profits, pulled out of the market, and went to his beach house, on the Jersey Shore.” The 1998 turn saw the S&P 500 peak the very day of the ECM. That warned me that there would be a serious crisis and that became the Long-Term Capital Management debacle when the Fed bailed out a hedge fund.  The currencies peaked 8/17 and the games began in September.

Here we had the NYSE, and even the Dow peaked on the ECM, but the Dow followed the NASDAQ into its high which was due in February. Our Panic Cycles were due this week into March. What I have learned over the years is the real opponent is not the market — it is yourself! People always want to blame someone else for their loss. They will be the sort of people who are incapable of ever mastering the markets because they are incapable of ever learning from their mistakes. Always remember, you are battling against your own emotions.

I have come to LEARN that the harder it is to do a trade, the more likely it is absolutely correct. That statement in the New Yorker that I went to the beach after closing my short positions was not a celebration. It was discipline, for it was very hard to cover shorts and flip to a long position emotionally when the entire world says there will be no tomorrow.

 

The entire purpose of the Reversal System is to provide definitive levels in a market that is NOTdependent upon human emotion — mine or yours!

It does not matter if we are looking at 1987, 1998, 2007, or 2020. The numbers are the numbers. In the case of the 2007 ECM, the very day of the panic began on February 27, 2007. I have explained many times that I discovered the frequency from a list of international panics between 1683 and 1907 spanning 224 years with 26 events. The high in 2007 came intraday on October 11, 2007, which was 26.2 intervals of 8.6 days, or in other words it was fractal. However, the highest daily closing was two days before on 10/09, which made it precisely 224 days.

There are people who are so desperate to discredit the Economic Confidence Model and that remains a mystery to me. Are they the Flat Earth types that simply refuse to consider anything? Or are they paid for by “The Club” who are desperate to make money trading against the people and manipulating them at will? I really do not know. All I can do is say, “Hey look at the interesting order!” This proves the world is not just random chaos. There is a Secret Cycle or hidden order behind the curtain.

 

Insofar as the pressure on the Federal Reserve, we can see that pressure has been building in the form of the Repo Crisis into February. There is a Directional Change here with February and we should expect higher volatility in April/May where we have a turning point and a Directional Change. The entire Repo Crisis may begin to cause a severe crisis of confidence by the time we reach May/June.

Yes, this appears to be the beginning of a slingshot move

Corporate Profits to Decline into 2021?


QUESTION: You posted that there should be a recessionary trend starting here in 2020 even in the United States. Does that mean corporate profits will decline which impacts the stock market?

JB

ANSWER: Yes. I warned at the WEC that we were approaching a point where we could see a correction unfold in US equities. Corporate earnings should have peaked after a 19-year rally in 2019. There was a major spike rally into 2018-2019 that has been impacted by the Trump tax cuts and the corporate buy-backs so earnings rise in proportion to outstanding shares. There should be a two-year correction into 2021.

Our correlation models show that since we actually have global cooling, despite all the desperate manipulation of the data to create an average that is rising, temperatures have been declining where people actually live. This is serious for as the real temperature declines, the flu season gets worse. The last major flu epidemic was 1968 and that became a pandemic that killed more than 1 million people. The overreaction to this coronavirus may be an intentional manipulation of the economy as it undermining the economy. Cyclically, this is right on target. We have a Directional Change in 2021 and that is the next turning point. so I would expect we have seen the high in corporate profits and we have that correction unfolding into 2021

Devin Nunes Reacts to Ratcliffe DNI Nomination – And New Ukraine Investigation…


House Intelligence Committee ranking member Devin Nunes appears on Fox News to discuss his outlook on the nomination of John Ratcliffe as Director of National Intelligence.

Additionally, Nunes discusses how the Democrats are attempting to weaponize the Coronavirus scare and information about a new Ukrainian investigation into Joe and Hunter Biden and their corrupt influence scheme surrounding Burisma.

Epic Matthews – MSNBC Host Chris Matthews Confuses Senator Tim Scott With Jamie Harrison…


During a broadcast segment on MSNBC Chris Matthews is discussing 2020 politics while a monitor displays the live broadcast of the Trump rally in South Carolina. Then things get really squirly, uncomfortable and weird.  Cringeworthy.

Matthews has Democrat senate candidate Jamie Harrison on satellite feed to participate in the interview and somehow confuses Senator Tim Scott on the monitor with Jamie Harrison because, well, apparently… all black guys look alike, or something.  WATCH:

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President Trump Nominates John Ratcliffe for Director of National Intelligence – Ramifications…


Quite a bit to unpack here, and most of it is very good news.  First, this re-nomination was almost predictable when you look at the totality of the landscape:

President Trump needed to generate an official DNI nomination in order to retain the current acting DNI authorities for Richard “Ric” Grenell; so that’s one aspect.

However, beyond the procedural move there’s the larger background of the FISA reauthorization; and, in my opinion, that larger dynamic is the majority consideration.

The FISA reauthorization and the need for President Trump to support any type of reauthorization that eventually gets through the complex political dynamics within congress; and considering Senate Majority Leader Mitch McConnell traveled to the White House to discuss this issue yesterday; the outcome is considerable leverage for Trump.

On July 28, 2019, President Trump first nominated John Ratcliffe for the ODNI position to replace former DNI Dan Coats.  However, the Senate Select Committee on Intelligence headed by Chairman Richard Burr and Vice-Chairman Mark Warner, informed the White House they would not support Ratcliffe.  Burr and Warner would not have made such a bold statement to undercut the nomination without approval from Mitch McConnell.

The epicenter of the deepest defensive mechanism of the Deep State is the Senate Select Committee on Intelligence (SSCI).  The SSCI is the bunker, the intelligence manipulation operations headquarters. The SSCI is where the political nuclear weapons (black files and IC gathered political surveillance research) are housed.  As a direct consequence the SSCI is the most corrupt and manipulative committee in all of congress.  The SSCI also controls all nominations within the intelligence community (DNI, CIA, NSA, DOJ-NSD, etc).

As a result of Senator Burr and Senator Warner undermining Ratcliffe, on August 2, 2019, the Ratcliffe nomination was reluctantly withdrawn.

After the Ratcliffe nomination was withdrawn, President Trump was then dragged into the House impeachment effort.  In hindsight it is clear the SSCI position of Burr and Warner was partly due to their desire to watch and see whether the impeachment effort would be successful.   [August ’19 through February ’20 the impeachment effort was tried.]

Representative John Ratcliffe was/is a key member of the House who has investigated the details of the DOJ and FBI intelligence abuse during the 2016 election. Factually, Ratcliffe is one of only four high-clearance House members who had seen all of the unredacted and classified documents associated with the DOJ and FBI activity. [Ratcliffe, Gowdy, Goodlatte and Schiff]

In November of 2019 buried deep in the congressional budget Continuing Resolution (CR) was a short-term extension to reauthorize the FISA “business records provision”, the “roving wiretap” provision, the “lone wolf” provision, and the more controversial bulk metadata provisions [Call Detail Records (CDR)], all parts of the Patriot Act.  As a result of the FISA CR inclusion the terminal deadline was pushed to March 15, 2020.

On December 9, 2019, the DOJ Inspector General report on FISA abuse was released to the public.  Within the IG FISA report the prior statements of John Ratcliffe about the FISA abuse scandal were proven to be exactly correct.  Additionally, the severity of the FISA abuse, including the intentional manipulation of evidence by the FBI, was far more serious and substantive than anyone thought.

While the FISA issues were being investigated congress punted the reauthorization of FISA to March 15. There is a current debate on whether those FISA authorities should be reauthorized.

Representatives requesting FISA reform prior to renewal include: Mark Meadows, Jim Jordan, Doug Collins, Jody Rice, Devin Nunes and Steve Scalise. Additionally, Senator Mike Lee and Senator Rand Paul are trying to force reform or let the current version expire. However, Lindsey Graham and Mitch McConnell, along with AG Bill Barr, want a clean FISA renewal without public hearings….

It is into this debate where President Trump’s support becomes critical.  Yesterday:

Within the overall dynamic we can see where President Trump would gain leverage on Senate Leader Mitch McConnell over the FISA reauthorization issue.  McConnell wants FISA reauthorized… President Trump wants John Ratcliffe as ODNI.

With that in mind, CTH presented the possibility:

Should Trump cut a deal with McConnell: Support for FISA reauthorization in exchange for Ratcliffe as ODNI?  As you can see from our poll opinions were split with a slight advantage toward making the deal.

Personally, inasmuch as I hate-hate-hate the thought of FISA being renewed in its current context, I am cautiously okay with a deal because I trust current CIA Director Gina Haspel, current ICIG Michael Atkinson, current DoS Secretary Mike Pompeo and current DoD Joint Chief’s Chair Mark Milley, about as far as I can spit while facing a hurricane.

Having John Ratcliffe as ODNI at least provides President Donald Trump with control at the intelligence hub.  If DNI Ratcliffe can then help to remove corrupt schemer Michael Atkinson (ICIG), even better.

The position of DNI is critical within the intelligence community.  Essentially the Office of the Director of National Intelligence is the boss of the CIA Director and NSA Director; and the ODNI handles the flow of classified intelligence; and, importantly, the declassification of information to provide public sunlight.

In the position of DNI John Ratcliffe would have the ability to reach out into any intelligence compartment, retrieve and then declassify any/all documents that might be used to show the gross abuses of power by prior intelligence officials.  [Acting DNI Ric Grenell also has that current authority.]  The information within reach is the risk SSCI Chairman Senator Burr and Vice-Chair Warner have attempted to control.

It is likely President Trump would NOT be nominating John Ratcliffe today if he did not have the support of Mitch McConnell; and McConnell’s assurances the SSCI would not attempt to block the nomination this time.

Yes, it is possible President Trump would make the nomination without McConnell’s nod.  However, that approach would mean Trump is about to enter an all-out war against Republicans in the Senate….. not terribly likely in an election year.

What is most likely is that President Trump used the leverage he carries within the FISA authorization issue to get McConnell to agree to the deal:  FISA for Ratcliffe.

Now we wait to see the details; whether it’s a short-term FISA reauthorization, and what are the changed terms -if any- within the authority.

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President Trump Impromptu Presser Departing White House – Video and Transcript…


Chopper pressers are the best pressers.  Departing the White House for a rally in South Carolina, the president stopped to answer questions from the press pool.  [Video and Transcript below]

.

[Transcript] – THE PRESIDENT: Hello, everybody. I’m going to South Carolina, a big rally. A lot of people — thousands of people outside and it’s going to be very exciting. We have a big day tomorrow, in terms of the Democrats watching. See what happens. And then, on Tuesday, you have a very big day, so it will be interesting to see.

We’re at the same number. A lot of people are getting better. Very much better. The 15 number. Plus we took in, as you know — from Japan, we took in some great American people and citizens and they’re getting better very rapidly. They’re doing very well. All of them are doing well.

The 15 people, likewise, we have them down to a much lower number. They’re in good shape. Most of them are in really good shape. One of the people is — I wouldn’t say “not doing well,” but it’s very — she’s very sick. But she’s hopefully getting better.

But we’re at the same number. We’ve only — so, it — essentially, we’ve only had 15. And a lot of that is because we called it early. We — we were — we made a decision very early to close up our borders to certain areas of the world and we did that. And so we are hopefully getting lower from that number, but let’s see what happens into the future.

Some countries are doing well; some countries are not doing well. You can see that for yourself. And a lot of things are happening. We’re very well organized. We have great talent, great doctors, great — great everyone. There’s tremendous spirit. A lot of spirit.

And, as you know, with the flu, on average, we lose from 26,000 to 78,000 people a year — even more than that, in some cases, some years. We haven’t lost anybody yet. And hopefully, we can keep that intact. We — there have been no deaths in the United States at all. A lot of that is attributable to the fact that we closed the border very early. Otherwise, it could be a different story.

So we’ll — we’ll just keep doing a good job. We’re ordering a lot of supplies. We’re ordering a lot of — a lot of elements that, frankly, we wouldn’t be ordering unless it was something like this. But we’re ordering a lot of different elements of medical. We are working on cures and we’re getting some very good results.

As you know, they’re working as rapidly as they can on a vaccine for the future. And, with that, I think I can head out.

Q Mr. President, what can your administration do to limit the risk of an economic recession?

Q This is the worst week for stocks since the financial crisis. Is this more of an economic or public health crisis?

THE PRESIDENT: Well, I think it’s just people don’t know. It’s the unknown. You know, they look at it and they say, “How long will this last?” I think they’re not very happy with the Democrat candidates, when they see them. I think that has an impact.

And we think — we think we’re going to win. We think we’re going to win easily, but you never know. It’s an election. I don’t think that’s helping.

But I think that, basically, it’s the unknown a little bit. But I feel very confident and our people are doing a fantastic job.

And again, we haven’t seen an increase and people are getting better. Almost everybody that we see is getting better. And it could be everybody, too.

Q (Inaudible) it is a crisis? And how much time are you spending on it?

THE PRESIDENT: No, I — well, I’m spending a lot of time on it, just in coordination. Mike Tence [sic] — Pence is doing a great job. Dr. Fauci — Dr. Fauci is great. They’re all doing, really, a fanta- — Alex Azar is right on top of it. We’re all watching it very closely. We don’t want any bad surprises.

Q Sir, on Syria — on Syria, do you think NATO should help Turkey in Syria to protect Turkish soldiers in Syria or not?

THE PRESIDENT: What is it?

Q Should NATO be involved in protec- — helping Turkey to protect its soldiers in Syria?

THE PRESIDENT: You’re going to have to speak up. This thing is —

Q Mr. President, will you expand the travel ban to the countries that aren’t allowed in — for example, from Italy?

THE PRESIDENT: Well, we’re looking at that right now and we’re looking at a couple of countries — a few countries that have a little bit disproportionately high number. And we’re going to make that decision very soon.

Q And then, is this a hoax? Your Chief of Staff seemed to suggest that our coverage of this was a hoax. Do you think this is a hoax?

THE PRESIDENT: Well, I think that the media is — yes, I think that CNN is a very disreputable network. I think they’re doing everything they can to instill fear in people and I think it’s ridiculous. And I think they’re very disreputable.

And some of the Democrats are doing it the way it should be, but some of them are trying to gain political favor by saying a lot of untruths.

The fact is, I made one decision that was a very important decision and that was to close our country to a certain area of the world that was relatively heavily infected. And because of that, we’re talking about 15 — who seem to all be getting better. One is questionable.

And, had that decision not been made, it could be a much different story. So, some people are giving us credit —

Q (Inaudible) the CDC has overestimated the risk?

THE PRESIDENT: Quiet. Some people are giving us credit for that, and some people aren’t. But the only ones that aren’t, they don’t mean it; it’s political. It’s politics.

So, speaking of politics, I’m going to South Carolina. I think we’re going to do fantastically there and it will be very interesting to see what happens tomorrow.

Thank you.

Q Are you talking to CEOs about the stock market, sir?

THE PRESIDENT: Say it?

Q Are you talking to CEOs about the stock market, sir? What are they telling you, the business community?

THE PRESIDENT: Well, I think the stock market is a reflection of this, plus I also think the people are not happy when they look at what’s running on the other side. You know, it is an election and I think we’re going to do very well in the election, but it still is an election and I don’t think people are very inspired when they see the people running on the other side.

But we’re going to win and that’ll solve that problem. And after we win, you’ll see a rise in the stock market like you haven’t seen before.

Q Have you talked to the Fed about intervening or doing something?

THE PRESIDENT: Well, I hope the Fed gets involved. You know, I’m not a big fan of the Fed. You know that. I think they make a lot of mistakes. They’ve made a lot of mistakes. But I hope the Fed gets involved and I hope they get involved soon.

If you look at Germany, they’re putting in a lot of money and they’re probably lowering rates still further. You look at other countries; they’re all stuffing the till. They’re all going in there. They’re putting a lot of money. And our Fed sits there, doesn’t do what they’re supposed to be doing. But that’s up to them. That’s up to them. They’re independent. But they’ve done this country a great disservice.

Thank you very much.

END 4:37 P.M. EST