Manufacturers Bet on Reflation While Consumers Become Savers

In today’s show, you will learn why I’m confused about the economic data as the money supply is rising likely due to stimulus and the manufacturing sector is bristling with activity, but consumers are turning into savers and not spending. You’ll also learn about this week’s unemployment report, what’s going on with the Philly Fed Manufacturing sector, how bank credit conditions continue to worsen, how commercial hedgers are preparing for lower Treasury yields, and why stocks are massively overextended.