Hey Peter Navarro here with this weekly market wrap from the Taking Back

Trump's America podcast and sub stack kind of a bearish scenario going on.

So here we go.

Peter Navarro's Market Rap,

protecting your wealth and job in Trumps America.

As I indicated last week, the American stock market is best summarized by the S&P 500 index

had reached the upper end of its trading range several weeks ago

and there is now more risk to the downside than rewards to the upside.

That bearish concern was certainly on display again this week,

as the S&B 500 had another down week losing over 2% while the NASDAQ lost over 1%.

Meanwhile, mega cap tech stocks hit their longest slump this year, three consecutive weeks of losses.

So let's ask yourself the question, what exactly is going on.

Up to a few weeks ago, an expansive and profligate

Biden fiscal policy,

with the sad help of Rhino Kevin McCarthy,

was overrunning contractionary monetary policy at the Federal Reserve,

feeding government-stimulated growth even as inflation appears to be moderated.

The script has, however, now flip as the Fed's interest rate bite is finally starting to draw some blood.

This is Joe Biden's biddenomics bear now. Take the housing

mark. The 30-year fixed-rate mortgage has soared to 7.09%, a far cry from the Trump days of 2%.

The double whammy here is that not only is it becoming a lot more

expensive to buy a home, existing homeowners with low fixed rates

...