This Market Is a “Wheelbarrow of Dynamite” Waiting to Blow
This Market Is a Wheelbarrow of Dynamite Waiting to Blow
by Bill Bonner August 28, 2015
DELRAY BEACH, Florida Its hot in Florida. Steamy hot. Hair curls and bodies go limp.
The relief rally continued yesterday. All over the world, stocks gained. So did oil and commodities. (More on that below in todays Market Insight.) The Dow was up 369 points a 2.3% move. Chinese stocks were up by about 5%. Why?
U.S. GDP numbers for the second quarter came out higher than expected. The economy grew by an annual rate of 3.7%. And influential New York Fed chief William Dudley said the argument for a rate increase in September was less compelling.
A Decline in Excess of 50%
Oh, ye of little faith
fear not! Things are happening just as they should. It is the end of summer. Markets are giving strong hints of things to come in the fall. Like Vesuvius, a plume of smoke rises
and a cloud of dust hangs over the markets. The economic earth rumbles
and animals take flight.
But in come the cronies to tell us not to worry about it.
And who knows what happens next? ...................(more)
http://wolfstreet.com/2015/08/28/this-market-is-a-wheelbarrow-of-dynamite-waiting-to-blow/