"It’s Worse Than it Looks: Beneath the Surface the Bottom
is Falling Out, and People are Jumping Out of Windows" (Excerpt)
by David Haggith
Excerpt: "Surveying just the news that started this year in The Daily Doom, things look bad for the US economy. Worse still, if you dig beneath the few rosy headlines that did greet the year in lighter tones, the bottom falls out quickly, as it does when stepping out of a high-rise window.
This weekend, for example, I’m going to be working on a deep dive in one of my special posts for patrons into the confusing swirl of conflicting employment news that sent stocks soaring skyward today. It was really far shakier than the market wants to believe it heard. (Later this month, I’ll be giving my predictions for the upcoming year in another Patron Post.)
With the ghost of Christmas past, the Santa Clause rally fizzled into what looked like stocks were simply trying to edge upward. Stocks, finally, took a leap today; but that bolt upward was expected by many prognosticators I read on the unsustainable basis that there were a lot of losses intentionally captured during December by investors who had plenty of losses to capture from last year’s stock-market crash in order to, at least, benefit from the tax write-offs. That usually results in a quick, albeit short, rebound as the surface recoils to normal after the losses have been taken off."
Full , highly recommended, article is here:
o
Related:
No comments:
Post a Comment