Bull Market is Over
Whether it is the Euro Stoxx 600 or the S&P 500, this bull market is unraveling because it was built on easy money with interest rates at near zero percent for years. This artificial situation resulted in reckless speculation on a multi-trillion dollar scale. In fact, the Russell 2000 index, which feels economic problems before the giant companies, has been in a clear downtrend since June.
Fed Facade Fails
From a financial market psychology standpoint, it is very important that central bankers don’t appear clueless; however, after receiving the umpteenth excuse as to why interest rates still cannot be raised, the Fed is in danger of losing whatever “credibility” it has left. When the facade finally fails, will we find out that polices have been made from Ouija boards and chicken entrails?
The global economy sliding…
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