Futures Rise, Drop, Then Rise (And Fall) Again In Illiquid Session After China Promises More Stimulus
It has been a seesaw session with U.S.
It has been a seesaw session with U.S.
by Keith Weiner
On Wednesday Dec 16, Federal Reserve Chair Janet Yellen announced that the Fed was raising the federal funds rate by 25 basis points.
Let’s get one thing out of the way. This is not a move towards free markets. Whether the Fed sets interest lower, or whether it sets interest higher, we still have central planning. We still have price fixing of interest rates.
Huge mega-mergers. Anemic hedge fund returns. Billion-dollar venture capital deals. Bloomberg breaks down 2015's record highs and lows.
The Stock Market...
The Bond Market...
Deals...
Venture Capital...
Jobs...
Ups & Downs...
Read more here at Bloomberg.com
Back in June, this website first "solved" the "mystery" behind America's missing inflation, when we showed that a record number of US renters are unable to afford housing, suggesting that record amounts of "disposable income" were being diverted for use as a shelter "tax" instead of being spent on true discretionary goods and services, leading (together with the Obamacare tax) to the broad and distressing decline in not only traditional retail sales and moribund consumer spending, and the "secular" economic slowdown observed over the past several years.
The prospect of higher interest rates in the United States and economic weakness elsewhere has caused the dollar to rise against most other currencies. This makes our goods and services less competitive in the world economy. The Fed should be much more concerned about the economy's continuing weakness than the prospect its strength will lead to spiraling inflation.