This does not fit the narrative... ignore it!
Americans’ outlook for the U.S. economy fell in December to match the weakest for the year and a weekly measure of confidence cooled to a two-month low, even as both gauges remain high by historical standards, the Bloomberg Consumer Comfort Index showed Thursday.
In the most ironic story of the day, the company that makes the paper that Swiss banknotes are printed on was just bailed out by the money-printing, stock-purchasing, plunge-protecting, savior-of-global equities...Swiss National Bank.
While The SNB has a long and checkered history of buying shares in companies... as we have detailed numerous times, it is no stranger to pumping money into companies all over the world...
Including Apple, Alphabet, and Microsoft...
Authored by Charles Hugh Smith via OfTwoMinds blog,
Everyone who believes risk has disappeared has fallen for the con.
Now that it is abundantly clear that for a stock to explode higher, all that is necessary - and sufficient - is a press release mentioning the company's name and throwing in the word "blockchain" in the same sentence (see Riot Blockchain, LongFin Corp, Net Element, and Nova Lifestyle), other public microcaps have decided that if that's all it takes, then by all means they will gladly take investors' money.
Before...
After...
The Long Island Iced Tea company was doing just over $1 million in revenues per quarter, bleeding out cash, losing money for shareholders hand over fist -- down 42% for the year. So they managed to take a short cut around all of those issues and simply rename the company to Long Blockchain Corp. and this has resulted in shares rising over 500% in pre market chicanery.