Stocks Plunge Sharply

There was a rally, but in the end, stocks closely sharply lower -- Dow down 291 points.

Stocks Leap on ECB Plan to Monetize More Debt

Stocks rise 275 points based on nothing but the announcement of central bankers to print even MORE money to monetize European government debt!
This is the new entitlement for the super rich on Wall St. Free money for Wall St!

After all, if you can create money out of thin air to monetize debt and create asset bubbles ad infinitum, then why not? Who cares if all those bubbles eventually crash?

Who needs an economy? Who needs jobs? Who even needs reality? We have PRINTED prosperity now!

 

What Are the Bond/Debt/Credit Markets Telling Us?

This chart shows the US 10-year treasury futures for the past 15 months. The steady rise is one that depicts worry -- lots of it! Savvy investors buy bonds as a place of refuge when they're worried. The huge spike at the far right suggests that big money investors are gravely concerned about the safety of their money. That's why they buy what they view as a "safe bet" investment.

The message here? Be afraid! Be very, very afraid!

Stocks Crash Following Jobs Report

Stocks Sink!

So Which Economy Is It?

It's the Obamalaise Economy! Perpetual malaise! Even while the Propaganda Press tells us it's all great!

More news you WON'T hear in the Propaganda Press!

This morning, the US Bureau of Labor Statistics told us that job growth last month was the most in almost 3 years. Not so fast! Look at the jobs created! Low-wage, temporary, retail! Ie., SUBSISTENCE jobs, not breadwinner jobs!
We should always remember that payrolls are one of the MOST lagging of indicators. Often payrolls rise at the start of a recession. Payrolls typically only crash months after a recession begins.

"But, but, but payrolls data was awesome!! /He was saying that in satire./ US Factory Orders tumbled 0.7% in October (missing 0.0% expectations) for the 3rd month in a row (for the first time since June 2012). Rather notably, the only other time we had 3 straight months of factory orders declines was in the recession..." Tyler Durden @ Zero Hedge.

Gold Soars As US Government Prints Money

from Sputnik Int'l:
“We have seen a lot of the physical gold go from the West to the East and I’m sure that the central banks do not have anywhere near the gold they should have,” Egon von Greyerz said, explaining that China has been one of the largest buyers of gold recently, and asked for a physical delivery.
“It will be significantly high, definitely,” he said commenting on the price of gold in the future. “And the wise countries in the world, which is Russia, China, India – they understand this and they accumulate gold and buy more. Russia is continuously buying more, they understand what is happening.”

Gold has soared $67/oz today off it's lows! Wow! 

Wheat Soars

from Reuters:

"...wheat hovered near three-months highs, supported by concerns over
potential supply disruptions from Russia."

from Agrimoney:

"Wheat futures soared to $6 a bushel for the first time since June, boosted by concerns of a squeeze on Russian exports, and stealing
thunder from a Rabobank recommendation of the grain as a bullish bet." 

Tumbling Treasuries

This will NOT help the weak housing market!

Wall St Sees Cheap Labor

...and Obama sees 5 million new marxists -- er, I mean Democrats! The pink line is yesterday's close!

Is This a Bubble?

The last two stock market crashes since the year 2000 were bubbles. Yet today, we're told that this isn't a bubble. Despite that during both previous stock market rallies, the US economy was much stronger than it is today, we're being told that this is no bubble today! Those who tell us this are part of the cheerleader group, which itself is a sign of a bubble!

Crude Oil Collapses

As the world economy stagnates, demand declines, and production produces a glut, the price of crude oil is collapsing.

Wall St Plunges On Global Growth Concerns

from Fox News:

Crude Crushed, Corn Clobbered

Corn hit multi-year lows today. I believe this is the lowest price for corn I've seen in two years!

Crude oil declined $3 today. That's a sizeable drop!

Record Corn, Soybean Crops Crush Prices

from Yahoo Finance:

New York (AFP) - US corn and soybean crops could break records this year, but for farmers the bounty has a dark side: falling prices and a logistics nightmare getting crops to market...

" The US Department of Agriculture is forecasting record crops this year for corn and soybeans, the two largest US crops in terms of production. Unless there is a devastating freeze or torrential rains before the harvest ends, corn production is projected at 366 million tonnes and soybeans at 106.5 million tonnes."

Corn:

 Soybeans:

Crude Spikes on OPEC Threat to Restrict Production

from Business Recorder:

NEW YORK: Brent and US crude futures rose more than a dollar on Tuesday on the prospect of a possible OPEC production cut and on news that Libya curbed output after rockets hit an area near a refinery.
Oil prices received more lift when Russia said deploying troops in Crimea, which Russia annexed from Ukraine in March, was a top priority with NATO holding military exercises in the Ukraine near its border with Poland.

Weak Economic Data Suppress Crude Prices

And this, despite bellicose talk and acts from Russia.

Fin24:
New York - Brent crude fell below $100 a barrel on Monday, the first time in nearly 15 months, before returning to close in three-digit territory but down on the day as fear of Opec output cuts helped the market recover from weak Chinese and US data.
Slower-than-expected growth in the world's top oil consumers, and ample supply, has pushed prices down from a high for the year above $115 in June, complicating central banks' efforts to ward off deflation.

Global Weakness Collapses Copper Prices

Copper tends to be a bellwether commodity because prices tend to reflect overall supply and demand. Here is the headline from FT yesterday:

This chart doesn't show broad-based weakness, at least not yet!

Corn Continues Weak

Bloomberg:
Corn extended a slump to trade near the lowest level in four years on speculation yields in the U.S., the biggest grower, will be bigger than the government estimated last month. Soybeans and wheat also declined.

Sugar Prices to Go Higher

CNBC:
Cutbacks in the world's largest sugar producer could end a multi-year supply glut, sending prices higher next year, according to traders.

 But there is no sign of a price shift yet in this chart!