You might think I am getting a little philosophical but I am not sure if this ever happened to you. You’re living your life doing the things that you normally do as if it comes to you as second nature. Like taking a walk in the park, out of nowhere, you meet someone. This person takes an interest in you and you in them. Pleasantries are extended and slowly you find that your common interests equate. Usually making you have to pinch yourself or remain in awe, somewhat breathless, asking yourself, is this really happening ro me? 

All of a sudden, you think, wow this is amazing and from underneath you, the proverbial rug is pulled, like an idiot you stand there wondering WTF, just happened. Be it a friendship, infatuation or something genuine, you grasp for answers and pick straws, then drink your favourite bourbon through it. Then the voice of reason follows, whispering in your deaf ear, “Just be and let things flow it will happen but if you’re too eager, you may scare people away”.

My daughters tell me I am a projector and people come to me for guidance or to be the leader they need. I cannot express to you the number of times within the last few weeks I have been approached for sound advice, guidance or an opinion.  It is empowering but at the same time burdensome.  Yet, there is nothing more disturbing than witnessing the debauchery of the financial system. 

The expected happened yesterday when the Bank of Canada (BOC) cut rates aggressively, for the second time in a row by 0.50 basis points. This brings the bank rate to 3.75%.  Expect rates to continue to slide toward the 2.25-3.25% range as the BOC strays away from a restrictive monetary policy. As they are desperately trying to avoid the pending mortgage renewal crisis by year-end. 

It’s incredible to witness when bankers control the media and narrative. They can actually convince the sheep that they are doing a great job. In reality, even though the BOC has mismanaged the predicament we as a country find ourselves in, they continue to profit at the expense of everyone else. 

Nonetheless, focus now shifts to the Federal Reserve and the USA election. Uncertainty reigns supreme and a flight to safety is occurring as the USD Index explodes above the 104.0 level. Expect the unexpected to occur, just don’t be surprised if the election gets delayed or cancelled. Nothing will surprise me to see desperation by those who want to retain the power corrupted by greed. Conflicts globally fan the flames of hatred and war. People profit while others die needlessly. Shameful!

The European Central Bank (ECB) boasted about inflationary numbers claiming they are reassuring. This morning, they also cut rates by 0.25% as Christine Lagarde, the ECB President sips on a Mimosa. A Trump victory could force the ECB and Fed to cut rates even more aggressively. The question is what harm did they do in the meantime to achieve the problem they created?  They continue to print excess money and profit from those who are paying the price through every penny earned and spent. Inflation has been absorbed, the numbers now are coming down because the equilibrium of people’s abilities has reached a point of no return. It’s like after Thanksgiving, how much Turkey leftovers can one take? 

Middle East tensions cause a flight to safety as the USD Index climbs aggressively above the 104.0 level. Distractions will be plentiful before the US election. Hold on to your hats and stay away from large gatherings if possible. Timing is everything as economic data improves, Jobless Claims come in at 227k vs expected (242k) while Composite PMI rises to 54.3 vs (54) seeing an improvement in both Mfg and Service sectors.