Even though the U.S. stock market is at the highest level in four years, we just found out today that fourth quarter GDP was actually negative ! The GDP number missed expectations by over a percent. Economists of course shrugged it off, as due to "one time factors". Same thing in Europe, the UK economy shrank by .3% in the fourth quarter, but the FTSE is at a four year high. German GDP shrank .5%, DAX at five year high...
On a similar note, last night Amazon, the world's largest online retailer missed on the top and bottom line. However, in response, the stock was up 8% (in after hours) on the news, hitting a new all time high. Let's see, Walmart and Dollar Store can't meet expectations anymore and neither can Amazon. Nothing to see here, move along...
Like I've said before. The party is over, and we are all just standing around waiting for Wall Street to realize the lights are on...
And notice how the entire media are only focused solely on what's happening on Wall Street and totally oblivious to the real economy. They are taking their cue from Wall Street to ignore the ever-widening disconnect between reality and fantasy.
This will go down as the first time in history that the economy led the stock market down versus the market leading the economy down. First time - EVER.
And notice how the entire media are only focused solely on what's happening on Wall Street and totally oblivious to the real economy. They are taking their cue from Wall Street to ignore the ever-widening disconnect between reality and fantasy.
This will go down as the first time in history that the economy led the stock market down versus the market leading the economy down. First time - EVER.
