And I Didn’t Even Mention Greece, the End of the Euro or Evil Russia!! Yikes!
This is a screen shot from my iPhone about a week ago. And really this says it all. Breaking news is highlighting the all time highs again while the underlying economic news is negative across the board. No other time in history could the economy be in such dire straits and have the market completely apathetic to it. Whether it’s total debt, Consumer debt, retail sales, housing, productivity, inventories, full time jobs, GDP, wages, just about any indicator it is negative.
And if we put it in the context of having such extreme monetary policies with the sole intent toward all of these moving in a highly positive direction the above indications aren’t just terrible they are frightening. It’s kind of like when you’re in a fight and you’ve just hit the other guy with your best punch and he doesn’t flinch. You start to think this ain’t going to end very well. I expect the Fed folks are suffering from a case of the ‘oh shit that was the best I got’ syndrome.
Our nation’s ‘best and brightest’ economists and financial ‘experts’ have created policies that are their best ideas to generate economic growth and these policies have failed completely. The only thing preventing this nation from a full on collapse is an all time high stock market. And that is the only reason the market is at all time highs. Volume is sparse, institutional money is on the sidelines and every damn metric you can think of is falling apart yet markets are at all time highs, thanks to the Fed.
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