Stocks dove late in Wednesday’s session on news that the minutes from the January FOMC meeting were more than a little hawkish. From where we were sitting, the selloff looked like a brazen shakedown. It amounted to a 475-point reversal in the Dow, but that’s the kind of plunge that Wall Street’s thimble-riggers engineer whenever they are hungry for shares at bargain prices. For their part, the Fed governors seem convinced that U.S. economic growth is strong enough to handle who-knows-how-many more rate hikes without trouble. The Masters of the Universe no longer seem to care about dosage levels, but it seems predictable that this attitude will be validated shortly when stocks reverse after having fallen on news that was all too obviously ‘bad’. When observing the ceaseless, criminally manipulated ups and downs of stocks, it is wise to keep Oscar Wilde’s famous quote in mind: “One must have a heart of stone to read the death of little Nell without laughing.” Similarly, one must be an imbecile to think that the spectacle of stocks falling on ‘bad’ news is bearish.
Stocks Plunge on Word of Little Nell’s Death
- February 22, 2018, 7:08 am
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February 22, 2018, 6:51 am
“When Donald Trump was a candidate for president, he said that the unemployment numbers were phony. They were fake. They were a fraud. They were a con. He said the real unemployment rate is 30%, 40%. Now, every time there is an unemployment number that comes out, he’s tweeting about how great it is we have this record low unemployment and we should all give him credit for it.”
News is what one makes of it, “There is no truth. There is only perception.”
Have a great day today Rick.
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February 22, 2018, 12:01 am
Lunacy is the new normal, LOL!
I saw one poll that showed 80% of those responding thought the Russians actually interfered in our election!
In another arena, China is more and more seen as a military and economic threat to the USA by our Federal Government!
Of course, this ignores the fact that China as a military and economic threat to the USA is entirely a result of US Policy since Nixon’s visit there back in the day!The Fed is now, at long last, worried about staggering levels of American debt!
Once again, this problem is almost entirely the creation of the Federal Reserve/Federal Government Policy since Reagan ran Volcker out of town on a rail!And the US Army, faced by the fact that their current crop of Cannon Fodder is too weak to throw a hand grenade very far, will just skip that requirement in the future!
I got a million of em, folks, and I’m here all week!
LOL!
High yield liquidation has started the capitulation of the ZB market ‘spiking high in yield’ suggest that a high volatility market is dead ahead.
The projected DXY index for the coming days and weeks ahead move towards a further 24% decline in value from the recent low point of last months low, near about the DXY 66.100 level.