Sounds like it’ll be raining jobs, growth and profit across the U.S. for the foreseeable future, if White House trade adviser Peter Navarro has it right.

“I can tell you with certainty... we’re going to have a strong economy through 2020 and beyond with a bull market,” he told ABC News in an interview on Sunday morning^[1]. “The Fed will be lowering rates. The ECB will be engaging in monetary stimulus. China will be engaging in fiscal stimulus.”

Yes, cheap money at home and abroad. Easy, right?

‘Without intervention, without stimulus, without artificial help markets fall apart. If the Fed doesn’t cut rates in September markets plunge.’

Don’t be fooled, people, it’s all “a giant con game,” according to the Northman Trader blog’s Sven Henrich. In our call of the day, he warns that, without the steady injections from central banks, a global recession would already be here, with a U.S. recession not far behind.

“Confidence must be maintained under all circumstances. This has been the game for 10 years and hence any market drops that would add pressure to confidence must be averted,” he wrote in a post over the weekend^[2].

Navarro’s rosy outlook exists only with the understanding that rates will be dropping, but, in reality, there’s a shelf-life here.

“If the Fed doesn’t cut rates in September, markets plunge,” Henrich wrote.

This isn’t unique to the U.S., either, he pointed out. If the European Central Bank doesn’t cut rates — ouch. If China and Switzerland don’t — ouch. ...