- Near 300 point drop in the Dow
- NASDAQ down 118
- S&P down 30 points
- $1.50 gain in oil and oil stocks up
- No significant economic news that would trigger this move
- Dollar was not down much lower on day
- The 110 level is holding back the euro
- Expectations that the euro will roll over on higher U.S. interest rates kept the dollar up
- A weak stock market is bad for the dollar and good for gold because the Fed is likely to not raise interest rates or launch QE4
- The only way the Fed can prevent a correction from turning into a bear market is by launching QE4
- The Fed has built this “recovery” on asset bubbles
- Launching QE3 guarantees QE4
- The only thing that will stop perpetual stimulus is a currency crisis
- Durable Goods Orders were estimated at .7% gain
- Actual number came in at a 1.4% decline
- Five consecutive monthly declines in Durable Goods X Transportation
- The last time that happened was during the months surrounding the 2008 financial crisis
- The U.S. economy today is the weakest it has been since the depth of the 2008 financial crisis
- The final revisions to Q4 GDP due on Friday are estimated to go down
- There’s a good chance the number will be lower than 2%
- Pundits are making excuses, saying that the “First quarter
s always weak” or “It’s the weather” - They don’t want to come to terms with reality
Podcast: Download
