Add to this Consumer sentiment dropped again even with large market rally. And do you have the climate, the underpinnings of anything sustainable?
If this IS a Bear market rally (and it is IMHO) there is a very good chance the lows will not be the lows.
We got Manny, Moe and Jack trying to take us out of this nose dive....
Inflation FREAKS are wrong. Billions sit atop the FED REserve Banking system, but they aren't going anywhere. and demand for loans and risk are dampened. And Banks are cutting credit lines in HALF for those who might use it to stim economy.
Does in the above chart the decline in durable goods look like just a small correction? This has the makings of the most severe recession in history bar one, the Great Depression, the data bears this out. Thats why Im cautious, am not taking risks, and do not believe the hype.
D
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