Submitted by Charles Hugh-Smith of OfTwoMinds blog,
The inescapable conclusion is that Fed policies have effectively crashed the velocity of money.
That the velocity of money has been crashing while the money supply has been exploding doesn't seem to bother the mainstream pundits. There is always a fancy-footwork explanation of why whatever is crashing no longer matters.
Via Dana Lyons' Tumblr,
Micro-cap stocks have suffered a key breakdown relative to mega-cap stocks, suggesting a “risk-off” shift on the part of investors.
The “most hated man in America” just got arrested for securities fraud.
"Pharmaceutical entrepreneur Martin Shkreli was arrested by the FBI on Thursday," Reuters, whose reporters apparently witnessed the arrest, says.
Heading into the Fed's first "dovish" rate hike in nearly a decade, the consensus was two-fold: as a result of relentless telegraphing of the Fed's intentions, the hike is priced in, and it will be a "dovish" hike, with the Fed lowering its forecast for the number of hikes over the next year.
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Economic Disaster
Posted with permission and written by Rory Hall of The Daily Coin (CLICK FOR ORIGINAL)