COMMENT: Hello Mr. Armstrong,
Thank you very much for all you do for us little people. I am a Basic member just trying to move my 401K in and out of the markets to try to make a little extra for retirement. Unfortunately I can only make a move once a month.
Here is today’s temperature in the oil fields of the North Slope of Alaska. We have been in cold weather shutdown for about 2 weeks. I have been here 20 years and have not seen a cold snap like this.
REPLY: Even the data that the entire CO2 crowd argues that in 1850s CO2 was only 240ppm was derived from ice cor samples – not actual testing. They are so gullible it is beyond belief. The CO2 measurements from ice core samples is by no means accurate for it represents more of an average. It does not show the spikes that take place with war when it surged above 400 during World War II. Moreover, they are using a period which was a 5000 year low into the ice age.
What we face is more of the impact of this upon agriculture and food going forward not to mention disease. The flu season takes place during the WINTER not summer. Global cooling is far more dangerous on so many levels.
When we look at markets, Wheat elected TWO Yearly Bullish Reversals at the end of 2019. The major resistance begin at the 800 level and our minimum target would be 860 by the top of this Economic Confidence Model come 2024. The markets are reflecting global cooling is on its way – not global warming.