Jim Kramer here to share with you a sample of my take on the market from today's

CMEC Investing Club morning meeting.

And I was telling Carl this morning, there's not much happening right now.

There's not a lot of earnings other than Tate to Interactive, a company like Doximity, ZipRecruiter,

and these are all secondary companies, and that's why we

have basically nothing going on. But how much does the macro then? I know we have a big CPI reading

tomorrow. We've got numbers from China overnight. Their CPI was down year over a year. The first time

since 2020, their CPI is dangerous. I mean, most people don't understand that a deflationary spiral is as difficult to break as an inflationary spiral.

People seem to think, oh, well, it's deflation, isn't that great.

They can't break it because no one, in a deflation spiral, no one invests. Because you know that the moment you invests is worth less than what you put in.

So they are, unless the government sponsors it, there's no way you can build anything.

Hence why you have these giant defaults.

We've talked about this country garden.

They didn't pay their bond on, they didn't pay their coupon on Monday.

And if you go back, I mean, there's people often think that the Nazis, I hate to mention

them, but the Nazis came to power during inflation.

They came to power during deflation because there was no growth in the country.

So be aware that deflation is something that the Chinese

government has not been able to break. So I mentioned U.S. CPI tomorrow. If you go back to the last

CPI in July where it was cooler than expected 3% year over year, you've actually had energy

as the top outperformer since then. And if you look at what's happening today, it's energy outperforming today.

You have oil hitting the high of the year,

...