When Jim Chanos said earlier this week that days ago that sub-Saharan Africa is facing a severe cash shortage (mostly as a result of their collapsing oil export revenue) he probably did not have the economic basket case of Zimbabwe in mind, and yet this is the country which, after years of monetary and economic collapse "problems", including the occasional bout of hyperinflation, finds itself in the most dire situation.
Seriously...
http://www.youtube.com/watch?v=FsqJFIJ5lLs
First things first - it's payrolls day so stock ramp no matter what... But gold topped stocks post-payrolls and bonds were sold as crude rallied most...
It's been a volatile week...
Submitted by Lance Roberts via RealInvestmentAdvice.com,
It has been interesting as of late reading the numerous views espousing the value of “indexing” and lamenting the short-term underperformance of some fund manager. What is more interesting is a large majority of these individuals have only been involved in the markets post-financial crisis. In other words, many of these individuals have never lived through a 2000 or 2008 type financial market event.
While one of the recurring complaints about the US consumer has been the willingness to dig into their savings which recent matched the highest level since 2012, something unexpected was revealed today when the March Consumer Credit data showed that not only did total consumer credit soar by $29.7 billion, or almost double the $16 billion expected, and the highest in series history...
BofAML's Mike Cantopoulos' distaste for corporate fundamentals, displeasure with the efficacy of QE and easy monetary policy on spurring growth and inflation, and concerns that a further deterioration in credit conditions will create deeper economic troubles not appreciated by many have left credit markets with poor default adjusted valuations and little room to absorb a negative shock. He highlights nine key reasons below why BofAML believes this rally won't last (and in fact may have already seen its end).