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Events
finance
No Rally Today
Tough way to end the week in the markets.
The DOW is off almost 300 points as I write this and the dollar has sunk to historical lows. I am amazed listening to CNBC and other MSM at how much credence they give the Goldilocks stuff and how surprised and skeptical they seem about the Roubini-type scenarios playing out.
I've been expecting this and much worse for over a year now. For anyone paying attention, there have been plenty of accurate predictions about how several concurrent events -- the bursting of the housing bubble, the repatriation of the yen carry trade, the ascension of China, the repercussions of so much liquidity injection by the Fed -- would likely play out. The rest remains to be seen, but so far the decline is consistent with stuff I've been reading for quite some time now.
