What The Fed Did Not Do
Submitted by Eugen von Bawerk via Bawerk.net,
We will not spend much time discussing what the FOMC did as tons of ink have been spilled on that already. We will rather spend more time on what the FOMC did not do.
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Business
OPEC Members In Jeopardy, How Long Can They Hold Out?
Submitted by Colin Chilcoat via OilPrice.com,
Where’s the floor? Is this the new normal? Answers have proven elusive and predictions unreliable as the oil market continues to lurch to and fro, though mostly down; oil is at an 11-year low.
For Caterpillar, The Depression Just Turned Three: CAT Hasn't Had A Sales Increase In 36 Consecutive Months
Earlier today Caterpillar reported its latest monthly retail sales statistics, and the numbers continue their deplorable trend: Asia/Pacific (mostly China) was down -17%,EAME dropping -5%, Latin America down -37%, the US down -5%, and global sales continuing their double digit decline for one more month down -11% in November.
Trannies Trounced To 20-Month Lows, Bear Market Builds
"Unequivocally terrible."
Back below Black Monday lows...
Remember when low oil prices were bullish... yeah, nope!
Our "Star Wars" Economy: The Fed-Farce Awakens
Submitted by Charles Hugh-Smith of OfTwoMinds,
The Fed's hubris has led it to the Dark Side.
It's not just a movie, it's real life: the Fed-Farce awakens. Now that the Federal Reserve has finally voted to "restore order to the galaxy" with a tiny .25% rate increase, the true measure of our travesty of a mockery of a sham economy--in a phrase, The Fed-Farce--has been revealed.