Hey Peter Navarro here with the latest sub-stack and podcast.

Communist China takes a big Huawei bite out of Tim Cook's rotten apple and Bears win another Wall Street week.

Hey, Peter Navarro here with my weekly Economy and Market Rap

for the week ending September 8, 2023.

As loyal readers know, for the last month I've seen risk more to the downside than up in the stock market based on the ongoing battle between two opposing forces.

On the foe bullish side, we have a profligate Biden-induced Keynes-In over-stimulus

driving artificial growth in the U.S. economy while hurting us towards a fiscal cliff.

On the real bearish side, we have a Biden-induced bearish inflation driving up interest

and mortgage rates and choking off both capital investment and activity in

interest-sensitive sectors like housing.

To understand these two opposing forces is to understand it is only a matter of time

before the Bears mall the Bulls.

From an historical perspective, my bearish leaning stem from the fact that I am old enough to have

been an adult in the 1970s, and I know at both a visceral and

analytical level that Biden's stimulus is driving us into a prolonged 1970

stagflation scenario.

The next stage of this scenario already unfolding

is a wage price spiral that will make it very difficult for the Federal Reserve to cut interest rates

anytime soon.

Of course, American workers will be the biggest casualties.

So it was this week that SPXU, the leveraged extrins, traded fund that shorts the S&P 500,

gained once again for the third out of four weeks in a row.

...