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We are now seeing the most euphoric stock stock market in history — a market as precariously perched as the one I laid out last January. “Market Euphoria Surpasses Dot Com Levels” says one headline. There is another way of putting it: extreme euphoria.
The major knock-on effects of the COVID shutdown are now starting to stack against each other, pushing city centers into the dust. Here are some of the big moves that are as characteristic of the US as they are of the world overall.
I mentioned in a recent article that the weird thing about this recession is that it is the only one in which personal income has gone up during a recession. That, of course, is because of government assistance, which is making it so we don’t have to feel the pain of a recession that the […]
Try to remember the kind of September, When life was slow and oh so mellow. Try to remember the kind of September When grass was green and grain was yellow. Try to remember the kind of September When you were a tender and callow fellow…. –Tom Jones
Elliott Wave charts are the stock market’s horoscope. Some advocates of Elliott Wave Theory even believe the stock market only collapses due to EW alignments. Even the least faithful Elliott acolytes believe the market is eternally fated to match up over time with the probabilities the charts have revealed.
One of my reasons I started this website years ago was to counter all the denial that I saw in the mainstream media about how long and deep the problems from the Great Financial Crisis would be and about how we were failing in every way to resolve the greed, decay and especially faulty thinking […]
Measured by the common man (or common girl), we’re on the road to ruin. The US has been in decline for decades, but you can’t see that by looking at stocks. You can’t tell it from those who lie about the economy to make their living, but look at longterm real numbers, and you see […]
These pictures are worth thousands of words:
The coronavirus pandemic inflicted a “swift and massive shock” that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said.… “This is a deeply sobering outlook, with the crisis likely to leave long-lasting scars and pose major global challenges,” said World Bank Group Vice President for […]
We are nearing that mid-point in July when I said we would start to see the news turn from euphoria-inducing reopening positives to depression-developing realism. Speaking of stock-market bulls who are stampeding uphill on the euphoria side, I wrote, Right now the farce is with them — reopening has arrived! And these stupid people will […]
There is no excerpt because this is a protected post.
The troubles listed here in my 2020 economic predictions are so severe and so likely to get even worse that it’s more difficult to imagine they won’t get worse than to believe they will. Just a few of these misfortunes would be enough to plunge us into an abyss of social and financial catastrophes.
It is always good to have a statement from the coroner when pronouncing death as I did on May 19, 2020. That is when I gave time of death and pronounced “The Fed is Dead.” You especially want the second opinion when you’re talking about Feddie Krueger, who has more extra lives than a cat […]
Jerome Powell burst the stock market bubble by publicly acknowledging there will not likely be a “V”-shaped economic recovery. He indicated that it will take years for the economy to return to the recent levels … we experienced just a mere four months ago. —Seeking Alpha