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Yellen Sinks Stocks, Craters Credit

Yellen Sinks Stocks, Craters Credit

Damn It, Janet!

Yellen’s testimony Wed. “was not dovish relative to market expectations,” and didn’t take March off table, Morgan Stanley strategists Matthew Hornbach, Chirag Mirani, Guneet Dhingra write in note.

 

She “qualified most of the downside risks to the economic outlook with a positive spin,” while implying that tighter financial conditions need to persist in order for Fed’s economic outlook to change

 

Could Gasoline Drop Below $1 Per Gallon?

Submitted by Charles Kennedy via OilPrice.com,

Retail gasoline prices have dipped below $2 per gallon across the United States. But gas might drop below $1 per gallon soon in some places of the country.

Aside from the financial crisis, when gasoline prices dropped below $2 per gallon for just a few months, retail gasoline prices have not been below $2 since 2004. Gas prices are at their lowest levels in many years.

Charlie Munger On Trump As President: "Anyone Who Makes Money Running A Casino Isn't Morally Qualified"

Charlie Munger On Trump As President: "Anyone Who Makes Money Running A Casino Isn't Morally Qualified"

It's amazing, but nearly a year into the Trump campaign the pundits still don't get it: the louder established members of the broken, crony capitalist status quo rail against Trump, the higher his popularity. And there are few more entrenched crony capitalists than the partner of Barack Obama's "tax advisor", the person who singlehandedly crushed the Keystone XL pipeline project so it would generate more profits for his oil trains, Hillary's number one supporter (perhaps tied with Lloyd Blankfein), Warren Buffet's sidekick Charlie Munger.

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