US equity markets are ramping higher (aside from Small Caps) this morning as it appears the word "uncertain" - uttered ubiquitously by Fed Chair Yellen in the last two days - has a different meaning in stock-land...
VIX hammered to a 9-handle, sending stocks soaring...
Oh, and decliners are outpacing advancers...
Headlines: Everything is awesome. pic.twitter.com/XH4Vg3V3D1
— Sven Henrich (@NorthmanTrader) July 13, 2017
Remember the 2007 Bubble?
Remember how everyone said that it really wasn’t that big of a bubble because stocks weren’t as expensive as they had been during the previous bubble (the Tech Bubble).
We all remember how that turned out: the bubble burst leading to the greatest financial crisis in 80 years.
Well, today’s bubble is WAY larger than that of 2007. And arguing that stocks are cheaper than they were during the Tech Bubble doesn’t hold water anymore either.
The following article by David Haggith was published first on The Great Recession Blog:
One of the kookiest moments last month came when Fed Chairwoman Yellen spoke about seeing no financial collapse in sight during our lifetimes
“Would I say there will never ever be another financial crisis? No. Probably that would be going a little too far, but I do think that we’re much safer, and I hope that it will not be in our lifetimes, and I don’t believe it will be.” (CNBC Play video for quote on next crisis.)
Authored by Mike Shedlock via MishTalk.com,
The Brookings Institute says Auto slowdown Flashes Caution Lights for Manufacturing Employment and Trump.
A switch to self-driving, trends towards electric, and a glut of used cars are all in the spotlight.
Authored by 720Global's Michael Lebowitz via RealInvestmentAdvice.com,
“I know you think you understand what you thought I said, but I’m not sure you realize that what you heard is not what I meant” – Alan Greenspan
On July 12, 2017 in her semiannual testimony to Congress, Janet Yellen stated the following: