Look at these god damned retail stocks. They're crashing I tell ya, crashing!
But no one really cares anymore. Investors know the risks associated with hiking rates into a weak economy, but are consciously choosing to ignore said risks in order to partake in the grand experiment of a centrally planned global economy. We need slave labor, lots of it, and plenty of open borders.
In spite of the most important part of the U.S. economy getting nailed today, after November's consumer spending came in must less than expected, the Dow is hardly down. Everything is just meh.
Incidentally, President elect Trump will have his hands full come January 20th, specifically with a central bank whose stated goal is now to hedge against any fiscal stimulus he enacts in office. Janet Yellen just wants to fight inflation. There's nothing political about it, naturally.
Since election night, the 10yr bond yield has risen from 1.75% to 2.55% on the premise of stronger than expected American GDP under Trump. Pray tell me, how will this occur is the Fed continues to hike rates into a very meek consumer spending environment, one hampered by rising oil prices rigged by OPEC?
You do the math.
You do the math.
Content originally generated at iBankCoin.com