Submitted by Charles Hugh-Smith of OfTwoMinds blog,
We tend to assume our system for understanding the cause of failure must be sound, because we've experienced Roaring Success for so long.
Rip-Roaring Success is a funny thing: we assume it's the goal of every person, household, enterprise and nation, but we overlook that rip-roaring success can be as destabilizing as failure.
Rip-Roaring Success can destabilize in a number of ways.
Following the Fed's disappointing "dovish, but not dovish enough" statement which effectively admitted Yellen had committed policy error by hiking just as the US economy "was slowing down" which in turn lowered the odds of a March rate hike to just 18%, it was up to oil to pick up the correlation torch, and so it did, rising in an otherwise mixed session which has seen European stocks slide on continued weakness surrounding Italian banks, many of which have been halted limit down, while Asia was unable to pick a direction after the resignation of Japan’s "Abenomics" minister Akira Amari to
On Tuesday, the People’s Daily laughed at George Soros.
Literally.
On the heels of comments Soros made in Davos last week about China’s “hard landing,” the Party mouthpiece ran an "op-ed" that carried the title “Declaring War On China’s Currency? Ha, Ha.”
Submitted by Raul Ilargi Meijer via The Automatic Earth blog,
As readers will recall, one of the bullish catalysts that pushed the market off its August 24 ETFlash Crash lows was an email sent by Tim Cook to Jim Cramer of all people (one which still hasn't been 8-K'ed), in which AAPL's CEO said the following: