With rate hike odds for March plunging from over 55% a week ago to just 38% now, it appears faith in The Fed has utterly failed. WTI traded down to $30.97 - the lowest ssince Dec 2003.
Fed #Fail...
WTI punched lower to a $30 handle for the first time since December 2003..
and that has dragged stocks back into the red...
In late 2014 and early 2015, we tried to warn anyone who cared to listen time and time and time again that crashing crude prices are unambiguously bad for the economy and the market, contrary to what every Keynesian hack, tenured economist, Larry Kudlow and, naturally, central banker repeated - like a broken - record day after day: that the glorious benefits of the "gas savings tax cut" would unveil themselves any minute now, and unleash a new golden ago economic prosperity and push the US economy into 3%+ growth.
Submitted by David Stockman via Contra Corner blog,
Here’s a newsflash that CNBC didn’t mention. According to the BLS, the US economy generated a miniscule 11,000 jobs in the month of December.
Submitted by David Stockman via Contra Corner blog,
During the 150 days since August 4th, Chipotle’s share price has plunged by 45%. Nearly $11 billion of market cap has been obliterated——including $4 billion in the last three weeks.
Accordingly, its market value has now retraced back to March 2012 levels. The hyperventilating CMG bulls who rampaged for 1250 days in the interim have now been taken out back and summarily shot.
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When The U.S. Dollar No Longer Exists
Written By Jeff Nielson (CLICK FOR ORIGINAL)