Authored by John Mauldin via MauldinEconomics.com,
Since the 2008 financial crisis, there’s been a growing number of ridiculous, inane, and otherwise nonsensical economic interventions from our central bankers that fill the daily economic headlines.
I have gone from the occasional smile to scratching my head now and then to "WTF" moments.
The Conference Board's survey of Americans' Consumer Confidence surged to its highest since November 2000 in November, with both current and furture expectations spiking.
In th epast 50 years, Americans have - apparently - seldom been more confident than they are now...
Does that sound right?
Additionally, confidence in a soaring stock market is back near record highs...
WTF!
While other 'soft' survey data has been disappointing recently, The Richmond Fed Manufacturing Outlook did not... in fact, against expectations of a 14 print, following a 12 print in October, November printed 30! - 16 standard deviations above expectations.
This is an all-time record high for the survey...
Just two weeks after President Donald Trump announced that Fed Governor Jerome “Jay” Powell would be his pick to succeed Janet Yellen as chairman of the Federal Reserve, he is appearing today before the Senate Banking committee in a confirmation hearing that’s viewed as a virtual certainty.
The hearing begins at 10 am ET. Watch it live below:
//www.c-span.org/video/standalone/
Right on time, a heavy volume seller struck the precious metals complex right as the US equity market opened...
Of course the real driver of this is the JPY-pair that is pumped higher to juice the equity open...
And Silver was slammed back below $17.00...