Tuesday, July 8, 2014

What A Bubble Looks Like!

While Janet Yellen can continue in denial, just as her predecessors have done, in perpetuity, just about any reasonable person would look at this chart of the current S&P 500 stock index and see a market priced in bubble territory.

Dose of Reality Hits Wall St?!

This morning, as the National Federation of Independent Business released its survey showing that 6 of the NFIB's 10 indicators decreased, with about half of the decline in the overall index due to less confidence in future business conditions, perhaps a dose of reality is hitting Wall St.
We're now in the 2nd half of 2014, and for the first six months, Wall St has been bidding up the stock market in expectation of a break-out higher for the global economy. This morning may be the first of a forced dose of reality for the Fed-pumped delusions of Wall St. It's not going to happen!

Sunday, July 6, 2014