So far third quarter earnings for the S&P are remarkable for their disappointment. But as one of the guests in this clip points out, the good news is the Fed is still doing QE right, so no one has to worry about downside in outrageously valued stock prices. Sure, sure the Fed protected everyone so brilliantly in the 2000 and 20007 cycles as well. Don’t worry be happy. Here is a direct video link.
The big picture is captured poignantly in this chart courtesy of Zerohedge. Behold the gaping hole of capital risk.
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Cory’s Chart Corner
Load MoreMany will focus the blame of market drawdowns on the tariffs and ignore the fact the SP500 (only a few weeks ago) was trading at 4 std devs above its historical mean…valuation also matters.
BREAKING: The European Union is preparing further counter measures against newly announced US tariffs of 20%, per CNBC.
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