Every week has brought even higher more ridiculous valuations and even fewer participants. This era will be filed in the history books under the chapters “clear and present danger” and “monetary policy gone mad”.
Source: Cory Venable, CMT, Venable Park Investment Counsel Inc.
Marc Faber explains why present conditions are reminiscent of those before the 1987 market crash. Here is a direct video link.
During an annual fishing retreat in Maine, financial world attendees share their thoughts with Reuters on when the Fed will start to taper. Here is a direct video link.
The Fed has always been hopelessly bad at forecasting economic downside–they are eternally optimistic. As they now desperately look for a good excuse to cut back on their unsustainable QE purchases, insisting the economy is getting stronger is one way to back out without admitting they were wrong on their growth assessment.
The fallout from a necessary reduction (never mind cessation) of QE is already hitting emergency markets hard and the ripple effects are spreading. See: India’s ruppee hits record low
The world’s largest civilian hospital ship travels the west African coast, restoring sight to thousands and bringing smiles to faces once disfigured by tumors. Here is a direct video link.
Cory’s Chart Corner
