Saturday, November 23, 2013

Stock Market Stratosphere

Both the S&P 500 and Dow closed in new record territory today. This looks more and more like a bubble with each day that passes.

If This Isn't a Bubble, What Is?

Friday, November 22, 2013


Thursday, November 21, 2013

More Bubble Proof

The stock market vs. macroeconomic data! The great divergence!

Stocks Rocket 109 Points Even As Goldman GLI Slows

Another sign of a bubble!

Bubbles Abound!

Fox Business headline today:

This headline on Fox Business today. Despite this, stocks are UP 100+ points today! I ran across an interesting quote the other day. A Wall St analyst said that all of Wall St now knows that they are "playing a game of musical chairs". He admitted that they acknowledge that when the next financial crisis trigger occurs, and the music stops, there will be a panic and a mad rush for the exits. But only the lucky first few will get through the theater exit doors safely when the shout of "Fire!" is heard. Everyone else will get burned. But on Wall St, EVERYONE believes that THEY will be one of the lucky few.

Philly Fed, Bad; Stocks Rise Faster

Stocks Leap Still More

A mixed bag of economic news has sent stocks scrambling even higher during the overnight hours. Improved news on unemployment claims would suggest a QE taper sooner rather than later, but weaker wholesale inflation gives the Fed room to do even more QE. Here is the result:

Stocks Leap Overnight

Wednesday, November 20, 2013

Bernanke Doubles Down on Debt Roulette

Stocks Stall

Tuesday, November 19, 2013

Monday, November 18, 2013

Foreign Investors -- Running For the Exits

This chart shows the 12-month moving average of TIC (Treasury International Capital) flows. This is a troubling sign, because it suggests that foreign investors don't feel their money is safe in the United States. What writing do they see on the wall, that Wall St doesn't?

The US Economy In One Simple Cartoon