The glass is half full. Or at least, that’s what Federal Reserve Chairman Janet Yellen seems to think.
Market Roundup
At a speech before The World Affairs Council of Philadelphia this afternoon, Yellen had an opportunity to clarify her views on the economy. She chose to come off as neither extremely hawkish nor extremely dovish. But she did admit to being “cautiously optimistic” and said right off the bat that her “message will be largely favorable.”
And she added: “I continue to think that the federal funds rate will probably need to rise gradually over time to ensure price stability and maximum sustainable employment in the longer run.”
Drilling down to the specifics, Yellen said the “news from the labor market over the past year has been generally good” and that “we are now close to eliminating the slack that has weighed on the labor market since the recession.”
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| Fed chief Janet Yellen: “Cautiously optimistic.” |
She did reference the weakness in the Friday jobs report and called it “disappointing.” But she also downplayed it somewhat by saying “one should never attach too much significant to any single monthly report.”
In Yellen’s view, the four main potential threats we face are
1) A possible weakening in domestic demand
2) Future turmoil emanating from China and Europe
3) A slowing in U.S. productivity growth and
4) Stubbornly low inflation.
But she said that the rebound in oil prices, stabilization in the dollar’s exchange rate, and the easing of Chinese tensions should win out. And she summarized her view by saying:
[Read More – The Consequences of Reckless Lending – Mike Larson]
“I see good reasons to expect that the positive forces supporting employment growth and higher inflation will continue to outweigh the negative ones. As a result, I expect the economic expansion to continue, with the labor market improving further and GDP growing moderately.”
| “The Yellen Fed is much more than a day late and a buck short.” |
So is Yellen right? Should we all be “cautiously optimistic” about the outlook for the economy and the markets?
Or will this go down as Yellen’s equivalent of Ben Bernanke’s and Henry Paulson’s “Subprime is contained” talk? Or going back further, Alan Greenspan’s early-2000 speech about the “revolution in information technology” and all of its glorious wonders … within a few weeks of the start of the dot-com crash.
I’m very curious to hear what you think. But my take, based on my reading of the economic and cycle data, is that the Yellen Fed is much more than a day late and a buck short in addressing market risks and getting policy right.
They should have started normalizing policy a lot sooner than they did. They should have done a lot more, a lot sooner, to push back at the multiple bubbles that their policies (and policies of foreign central banks) helped create. But they didn’t. So I believe we could be facing some of the most troubling, volatile months ahead, a direct result of all the imbalances, malinvestment, and mispricing that wildly easy policy has caused.
[Read More – Yet ANOTHER Billionaire Warns About Coming Chaos – Mike Larson]
As a result, my “long” recommendations are largely focused on “safe yielders” – companies that are less economically sensitive, less volatile, and that offer nice yields that are actually sustainable. My “short” positions are in companies with exposure to the large, unsustainable bubbles that built up over the last few years in sectors I have referenced repeatedly here in Money and Markets.
Agree? Disagree? Anything else you’d add here, now that Yellen has voiced her opinions? Then hit up the comment section below and let me hear your thoughts.
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Last week offered up a huge serving of economic data, most of it showing an economy that’s fraying around the edges. So what did you have to say about it?
Reader Rick brought up the disconnect between the data and the markets, saying: “I am just befuddled. No matter how bad things are, with Kudlow and you reeling off stats about how bad business is, the market just goes up and up and up.”
Reader Monica responded by saying: “To a huge extent, psychology and emotion – rather than business fundamentals – drive the markets these days. How else would you explain all of the money poured into companies that aren’t profitable but are ‘popular’?
“People are gleefully investing because the market has been going up and the powers that be are telling them that everything is fine, as in: ‘Move along, nothing to see here.’ People don’t want to know the truth about the economy, and the government also doesn’t want them to know the real situation because there would be rioting in the streets.”
Reader Vinman added: “Maybe we have the Zimbabwe effect going on. Zimbabwe printed money so fast, and inflation was so furious, that everybody put their money into the stock market and drove their market into the zillions. But other factors may be at play, too. Many companies borrowed money in the first quarter to buy back shares and this is probably why the markets bounced back.”
As for what’s happening on the ground, Reader Larry offered this observation: “I’m in western N.C. where I own several businesses. Our primary business is construction and we have enjoyed steady growth for the past five years or so.
“However, I do see things pulling back a bit as you suggested. We do commercial and industrial construction and do a fair amount of development for ourselves. The development side has picked up a bit as the demand has been present. We are selective in what we do.”
What about autos? Reader Bob weighed in there by saying: “I am here in Detroit auto land. May 2016 car sales were not all bad as May 2015 had two fewer selling days. Yes, carmakers are turning to more leases and subprime loans with higher incentives to move iron.
“But the good news is the average age of the U.S. car fleet is still over 11 years and the car-driving population in the U.S. keeps increasing. So I see good car sales for another two years or so before the next big downturn.”
Finally, Reader Stu said: “I just don’t see this economy doing anything other than struggling. An overbearing government that engineers numbers … a Fed that prints trillions of worthless dollars … and millennials graduating with huge debt and degrees that don’t translate into good jobs. An improving economy and a government committed to making hard choices to get spending under control could let us start making headway against our unsustainable debt.”
Thanks for sharing your thoughts about where things stand – particularly your on-the-ground observations of business conditions. It should be pretty clear where I stand on the economic cycle, and I trust you’ve taken protective steps to help your portfolio thrive in this environment. If you have any other comments, though, please do share them online.
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Chinese and U.S. policymakers continued their verbal sparring over a host of issues over the weekend, from territorial claims in the South China sea to overcapacity and subsidies for Chinese manufacturing firms. The bickering comes as U.S. Secretary of State John Kerry and Secretary of the Treasury Jack Lew meet with their government counterparts in China.
The march toward the investment gutter continues in global bond markets, with a benchmark sovereign bond yield index compiled by Bloomberg sinking to 0.62% in the wake of the jobs report. Australian 10-year yields hit an all-time low, while Japanese bond yields got within a basis point of them and the U.S. Plus, U.S. 10s are closing in on very important technical support just below 1.7%.
U.K. voters will soon decide whether to split from the European Union or remain in the economic bloc. The June 23 referendum could lead to significant economic and market turmoil, and the latest British polls suggest the “Leave” campaign is gaining momentum.
Private firms like Elon Musk’s SpaceX are increasingly looking to pick up where governments have left off – exploring moons, planets, and asteroids, according to the Wall Street Journal. The latest entrant is a Cape Canaveral, Florida-based firm called Moon Express. It’s seeking to land a suite of scientific instruments on the moon via a rocket launch from New Zealand.
Do you think the U.S.-China talks will lead to anything productive, or just more sparring over security and economics? What are your thoughts on the ongoing declines in global bond yields, or the upcoming “Brexit” vote? Should we be encouraged that private firms are increasingly looking to space exploration, or should that largely remain the job of U.S. and foreign governments? Let me know your thoughts in the comment section.
Until next time,
Mike Larson
{ 53 comments }
Yellen calls the economic glass half full because her head is half empty. To much DC Kool Aid over too long a period. She obviously refuses to allow herself to be confused by the facts.
She will do anything necessary to keep the stock market high regardless of fundamentals of the country or corporations until the election is over. Then watch out for an overvalued stock market to do what it should have done a long time ago…. trade at true value.
As far as what Yellen had to say, it was as I suspected, just more of the same old same old… threatening to raise rates (still pretending they have some amount of control) but hawkishly dovish as they continue to review “the data.â€â€¦â€¦â€¦â€¦â€¦â€¦.
The old “song and dance†of the central bankers……ie: “Whatever it takes†……will, at some point, not have any affect on the markets, because it will be recognized by everyone that it’s only just so much hot air………
I still believe that, once the markets start falling in earnest, gold with go down with them! I predict that the markets’ move will be breathtaking, shocking!! Not even the doomsayers will be expecting what actually happens!
No one can borrow their way out of debt!! The U.S. along with many other economies of the world, are in severe “credit card troubleâ€â€¦..in other words, too much “revolving debt”…with NO collateral and absolutely NO hope of paying that debt off!! This if further complicated by the extreme “entitlement mindset,” wherein many believe they are owed something they have not worked for………These things simply cannot go on forever!
To think that any central control agency can indeed keep the economy from going whichever direction the economic under currents direct is foolishness. It is like an animal trainer trying to convince an elephant which did not want to go in a prescribed direction to follow his lead. Not going to happen.
We all know in advance what she has to say.
So, why worry……
just save your self from this ‘phony ‘market..
It is too bad you even have to give her inclusion in you writings. It’s all garbage. Take for instance inflation. Take teach out and the real numbers for the things we survive on are running well over 10%. Is that really too slow/low for her? Get out of the ivory castle and in amongst the people. You’ve given enough instances of what it means when their lips are moving.
Ever since the Fed decided, in the summer of 2000, to continue to enforce its dual mandate of full employment at low inflation indefinitely into the future, even after the mandate expired in the summer of 2000, we were doomed and condemned to this sort of situation and this kind of talk. If the Fed is supposed to keep the economy going forever, one can only expect net positive, happy-sappy talk from the Fed. That is the only way to keep the positive psychology going longer, and they know it. Their job is to keep things TALKED UP. That is why when it finally does not work anymore it is such a disaster. But there is another element. Economists in America are inherently super-positively oriented to begin with. They simply WANT things to work out. That is why they are as blindsided as most other Americans when things finally do not work out. And that is why the decision to continue to enforce the dual mandate forever, when it expired in the summer of 2000, will lead to such disaster in the end. They will simply push the system until it can’t be pushed anymore – and then we will get the opposite of what they intended.
Above correctionThat take tech out of inflation calcs.
Yellen will not raise rates until december. She desperately needs to give crooked hilary every advantage to win the election. After the election, if the “data” allows, she’ll raise and push the economy into recession!
Until then, load up on liquid assets, wall streets gonna party like its 1999.
Fedral Reserve are bankers who are looking out for bankers, their business customers and wallstreet at the expense of the little guy, especially retirees who need some interest income.
Anyway, banks and wallstreet are counting on being bailed out again by the Fed.
No matter what, so stocks will keep climbing.
Even if it means to double down on today’s federal debt, Federal Reserve and Our corrupt Government will take care of their own.
I THINK YELLEN IS YELLOW !!! SHE MUST GIVE CLEARER DEFINITIONS TO THE MARKET ! THEREFORE I THINK SHE IS BAD.(SHE IS HIDING THE REAL TRUTH) I THINK IT IS ALL GOING TO HIT THE FAN SOONER THAN LATER. I AM LONG AND STRONG GOLD AND SILVER (DOING QUITE WELL PRESENTLY)…..I EXPECT SOME WILD SWINGS….I HOLDING STRONG REGARDLESS !!!
PS. WE NEED A VERY SERIOUS SHAKE-UP IN WASHINGTON !!!….EVEN THOUGH I DO NOT LIKE SOME OF THE THINGS HE SAYS…..IT APPEARS TRUMP IS BY FAR THE STRONGEST TURK AVAILABLE TO REALLY GET AT LEAST SOME OF THE MANY CHANGES THAT NEED TO BE MADE IN WASHINGTON.
AS IS !!
I think Yellen must be smoking some pretty good stuff! All the numbers that the government puts out are manufactured or bogus; from unemployment, GDP, inflation, etc. Like most of the readers here, I think it’s going to end very badly (we just don’t know when all the bubbles are going to pop)!
It ceases to amaze me how easily the mainstream media and, public in general, are fooled into seeing sunshine when in reality the clouds are grey and cause for concern. Consider just a couple of years ago the government re-calibrated the way they figure GDP growth by including items that never before were included. Movie and book royalties paid, R&D, just to name a couple. The net effect of these (false productive units) items and more, added about 1/2% to the published GDP figure. Unemployment. Beginning in 1970’s (recession) and the 1980 Congress pressured the BLS to re-calibrate how they figure non-farm unemployment. This again had the effect of making things appear better than reality. My last item for thought is the nearly $4 trillion the Fed printed money. Where is it? Historically, this amount money pumped out of the printing presses meant for stimulus should nearly of us driving expensive foreign imports and instead of cleaning up balance sheets. For meaningful growth GDP needs to be in the 3 to 3.5% range. We are not even close. So how does the Fed and the Administration say we doing well. I say we are not. We have been stuck in first gear since the fall of 2008. Remember when 90% was the line to cross for an A. Now’s it’s 86-88%.
$4 trillion the Fed printed money. Where is it?
It’s everywhere. It’s in F-35 fighters, stealth destroyers, welfare checks, income tax refunds, teachers’ paychecks, doctors’ reimbursements from Medicaid, broker loans for speculators. We Americans, all of us, consume more than we produce. We are loath to pay taxes so we borrow and print the difference. Washington is very good at handing out tax cuts, welfare and MIC boondoggles anything to please 50.1% of the voters so the charade can continue.
I AGREE WITH sTEVE
Given the amount of Debt we are facing,How The Yellen can say what she is saying is beyond simple principals. Does she ever mention the 90 plus million no longer looking for work ?.My thought is she is looking out for Wall St.and not Main street.Better to prepare for the worst and be wrong,than the other way around.Did she read of the Seattle employees that want their hours cut so they can still get all the free stuff. Hang On.
Fed and other government officials have to sound positive lest the public and markets will panic. Therefore, there is nothing new hear.
Short term rates should be normalized once economic conditions return to normal. Growth of around 2%, inflation of less than 2% is not normal and REAL unemployment of much more than 5% is not normal either.
So, there is a long time before rate normalization should take place.
Judging by the economic and labor market performance since the last rate increase in Dec. of last year proved to be a mistake, but one should not expect the Fed to admit to it, since they never do.
in the last 7 years this market has struggled from 6,000 to 18,000. maybe it’s time it did take a break???
Ms Yellen,
Is either incompetent or needs to take Economics 101 again. The unemployment (real) rate is probably closer to 20% than 5%. Raising the interest rate to even 5% with a debt of more than $18 Trillion dollars would make the interest on that debt unpayable. We are being led by a complete bunch liars or morons. You Pick ONE!!!
I think Yellen is the type person that cannot tell the hard truth but is soft shoeing her comments so that everyone will “feel good”.
i think we are all focusing in the feds’ judgment when we need to pay attention to its relevance.
In other words Yellen spewed crock.
It’s always easy to second guess the fed, but I dsagree with you that the fed should have started raising rates long ago. First, higher interest rates imply a stronger dollar, making our goods more expensive to foreign buyers. Those high prices would reduce demand, and thus corporate earnings and employment. Higher interest rate might also have threatened what modest recovery we have seen in housing, the sector that traditionally helps the economy recover from recession. Reduced demand for housing would reduce demand for construction labor. And finally, and perhaps most important, higher interest would dampen inflation even more. We have already been dangerously close to deflation, which makes dealing with inflation seems like child’s play. If we get into a downward price spiral we can be in for a long ride down, and it won’t be fun.
The fed has a tough job in balancing monetary policy with inflation and the general economy. If you look around at how other countries have fared since the recession I think it’s fair to say that we have done pretty well by comparison. I don’t know what’s gonna happen in the years ahead, but so far it looks like the fed has done a pretty decent job.
Declining employment numbers – especially in breadwinner jobs. Substantial declines in trucking, rail and Baltic Dry Index tell the real tale. The US economy is slowing and the decline is picking up speed. Every day the US economy is more and more vulnerable to the sudden emergence of a black swan. China? US stk. mkt? Saudi?
This is a brave new world, it would seem. With the BoE, BoJ, the ECB and the Feds printing money with abandon not seen since the Weimar Republic (and other smaller places since), what is it exactly that is holding up the inevitable consequences of an over-abundance of money? Are the rules different when such a significant share of the global economy is involved or is inertia alone enough to simply delay what would seem inevitable?
Monica, I totally agree. It is like the government is trying the JEDI mind trick
on us citizens. “These aren’t the facts you are looking for.”
Our gov’t has manipulated itself into a corner with out of control so called
“monetary policy”, fabricated unemployment statistics, have been sneakily
destroying Social Security and Medicare (not to mention the $80 BILLION
Medicare fraud they cannot seem to prevent), now threaten our IRA’s, 401K’s
and any other retirement vehicle you have created for your future.
They tell the news stations the economy is strong and so many ‘sheep’ are
believing it.
Last item.
If I told you I could guarantee if you gave me $6.00, I would give back $1.00
and that it would exemplify our GDP together as a strong economy,
would you invest with me. Hell no.
This is where the US GDP is now.
My opinions:
China/US Tango: While both countries need each other economically, the geo-political tensions will evolve as China furthers its 50 year (or whatever long range time line they have) plan to further develop its sphere of influence in the Pacific and beyond. China doesn’t compromise and relent…they just defer its long term intentions or ignore / circumvent any agreement. The talks about currency manipulation, subsidies, product dumping, intellectual property theft, and computer espionage will only be settled to the satisfaction of the US when reciprocity and/or products are denied access to American markets becomes the standard US reaction to China’s actual actions.
Brexit: Recent polls would seem to indicate Cameron is not trusted by many voters and many of the benefits of the EU are discounted or not sufficient for people to decide to remain in the EU. If they leave, I think the dollar will strengthen in the short-term as there will there be a flight to the perceived stability of the US financial markets….so the DOW-S&P-Nasdaq should see a boost during the summer as the dust settles across the Atlantic. Precious metals should also see a nice gain as the flight to safety and fear of imminent inflation and some economic instability occurs during the dissolution process.
I assume the Central Banks and the IMF will continue their attempts to stimulate the world markets and address economic crises with easy access to capital or loan forgiveness. The Fed will probably do a token 1/4 rate increase before the election because it’s been all but promised and the economy is still showing mixed signals as to its overall strength.
I think you are correct that a recession is in the cards, but you may be several months ahead of an actual decline in the financial markets. Just a guess, but I think last QTR, 2016 or first QTR 2017 seem more likely periods for a significant decline in the averages.
Another question to ask about government spending is when are the significant infrastructure deficiencies in the United States going to be addressed in a rational and significant way. Watching Congress ignore this essential component to a healthy and thriving economy is like observing a disaster occur in slow motion.
Buckle up prepare for Hard Landing and False Flags plus unwanted wars . .
pray for AMERICA to return to GOD
Hi Mike
For our friends in Britain, there are compelling issues to consider as part of remaining in the European Union. Why did they join in the first place? Has it been the predicted success most were hoping for? Did they realize that an unelected bureaucracy in Brussels would be making decisions about their rights for self-government and rule of law? The German chancellor famously invited the people smugglers to massively increase the flow of refugees without any reference to the other nation states. An invitation from Germany, where travel between the other union borders is unrestricted. It needs to be asked after so many years what has been the true impact on Britain’s economy, jobs and finances. Most of the arguments so far have been self-serving for one side or another. What are the financial implications for staying in? Britain like so many other free trading countries around the world has a long and proud history of open world trade. The battle for Britain this time has long running consequences for their self-determination and future hopes for independence if tied to the damaged financial malaise which is the E.U. This is their one chance to leave or stay and their views won’t be sought again for many years to come.
My son-in-law is British. Born, raised, lived and worked in England. Many of his family were farmers and fishermen. Joining the EU utterly wiped out some of them. He says it was nearly the worst event in the history of the UK. He immigrated to US two years ago. He could hardly wait to get out because the country is going down the loo (his words) but he can still vote in UK and will certainly be voting to leave the EU.
Janet Yellen is either a liar or incompetent. It is certain that big banks and big business control most of our corrupt government, so don’t believe anything they say.
Is the debt of the USA 250% of GDP? If so, Hello Japan we have come to join you. If the Fed is to be believed we are 104% of our GDP. Yellen and cronies will continue to QE America into the greatest depression ever seen with the whole world falling like domino’s. If Japan can squeeze out debt to GDP we will do the same until the black hole is filled with the worlds economy trashed and IMF in control.
I think its great that private corporations are leading us back into Space Exploration . I especially like to see them exploring the moon again ! Maybe someday we will be able to mine it economically for metals like platinum which lunar probes have picked up in there scans of the moon . Also maybe the Holy Grail of Helium 3 which is an element so light it cannot penetrate our atmosphere but it is in abundance on the moon . Scientists say Helium 3 may be used for Fusion reactors which could power our planet for the next ten thousand years . Wow now that would be a great achievement if our scientists and private corporations could pull it off !
The slack is almost out of the jobs situation because hundreds of thousands have quit looking for work and have gone on social security, disability, welfare or just living off their relatives. Time to shut down the big money printing machine.
IF YOU BUY FED SPEAK I HAVE A BEAUTIFUL BRIDGE IN BROOKLYN THAT YOU CAN BUY RIGHT NOW!
Who was the one who appointed Her? —- Do you think She’s going to tell us anything different than what She’s being told to say—– Just another puppet and that’s why we look to the Weiss group to give us the right information…capeesh?
she is delusional and clueless. Just like Hayek said: the worst people rise to the top.
interest should have been increased long ago., instead of the euro surviving they could look how well asia isdoing
international capital flows are pushing this market higher.
Yellen speaks? but is the world of investors really listening. Well the stock market is it went up expecting another financial handout. Financial sweetmeats have turned into financial crumbs over the last few years. Yes the Wicked Witch of the West is still riding high on her broomstick trying to scatter fairy dust far and wide. I watch the gold market and it takes a dip every time this harpy speaks. She and her ilk who suffer hoof and mouth disease are more and more speaking out dovish hawkish yo yoing markets trying to create a pie in the sky economy. Half full or half empty gee I think it is bone dry.
PS if you check the Asian markets on the right hand side of the page you will see it mirrors the American market. Its nothing but a follow the leader world of finance.
I agree with reader Rick in the article above . In spite of all the headwinds the market keeps going up.
Yes John Kerry go to China and try and enforce trade deals that the Chinese signed “in good faith” China does as it darn well pleases regarding trade the value of the yen and of course the April fool figures it spouts out from time to time. Your dealing with a country that has no scruples and a herded populous. They also know that America is weak when it comes to enforcing trade deals unless they are going to bat for the greedy Pharma’s. America has cried “Wolf” to many times without a big stick behind its back. Given enough time the Chinese will have the bigger stick.
Here in the UK we have Brexit fever the stay in Europe camp are saying we will go down the pan, wages and house prices will crumble, My view is that wages are allready on the way down due to the influx of cheap labour, house prices are top heavy and young first time buyers need 6Xannual salary risk to get a mortgage, Our social services are at breaking point we need to take back control of our borders, if the only way to do that is to leave Europe then we should take a step back as Europe cannot take on huge numbers of immigrants and control the huge amount of debt that they carry, the numbers do not add up
France at the moment is allways on strike and is just being used as a transit camp for immigrants to have a stepping stone to the UK.
The Europe model is finished and it is time the UK took a stand against the threats of Merkel and the rest of Europe, and when the Boss of J.P Morgan starts telling the UK what to do you know it is time to leave, or perhaps he wants the UK to have as much debt and exposure as J.P. Morgan. It is time to pull up the drawbridge close the channel tunnel and ride out the storm. Perhaps the idiot that runs J.P.Morgan has forgotten about the little $12 BILLION bail out they took in 2008. If any one in the UK was daft enough to tell the US how to run it’s country there would be more than a few tea bags floating in Boston Harbour !
Keep up the good work Mike it’s good to read how it is not how it might be.
God save the Queen, God Bless America, and Au Revoir Eorope
Ms. Yellen will not need to make a decision on rates this year if she can keep talking in circles through June and July. September would be to political for a rate change.
George Orwell, in his book 1984, nailed it. We get closer and closer every day.
“The glass is half full.”
The question is half full of what?
Actually, it is a statement with no meaning, or side stepping.
Stubbornly low inflation ??? LOL . Has Yellen ever bought any of her own groceries ???
I’m just a regular girl that came to this article hoping that Yellen would say something truthful about our economy. Lies, is all I get. I’m so sick of this government. The US can stop the spending, we can pay off the debt the Fraud in our White House has doubled over his occupancy in the President’s office, but only if the spending is stopped.
The only person wanting to address our economy and jobs is Mr. Trump! Mr. Donald Trump will stop the mess the fraud’s created! Trump for President 2016!
Ms Yellen is the biggest pocket of natural gas in the USA. She is holding hands with Obama
to try and hold the money market together till they both can bail.
Low inflation? I guess she doesn’t buy groceries or pay for electric bills, car care, or fresh veggies!
From one who is slipping out of the middle class.
We have to get rid of the unfortunately outright dishonest and do-nothing freeloaders in our government who we enabled to line their pockets with our money, Unfortunately, we have also allowed our government to be controlled by powerful financial interests.— The private e-mail server is part of the scheme We have laws to protect us against the misdeeds of people in public office liike Hillary Clinton, but for some strange reason, they are not enforced. The Federal Law Tile 18, Section 2071 specifically provides in a lengthy wordy way that what Hillary Clinton did with her government e-mails violates that law, was criminal and provides for a fine or imprisonment not to exceed 3 years and be disqualified from holding any office under the United States. Why is she still out of jail and running for public office ? ?
The system is rigged in favor of Clinton; secret meetings with the FBI director and the attorney general smell of misdeeds. We need to get rid of dishonest Government people
which we clearly have unfortunately in control of this country. They control Hillary and she will not make decisions (if she is in the white house) which will be be good for our citizens.
Stop the control of specila interesl in our government ! !