"It was a bad time to be a reality skeptic"
The selling will continue until shit breaks. At which point it will accelerate. Until everything breaks.
The post-2008 "strategy" of bailing out lenders by giving borrowers more money, is ending asymmetrically aka. instantaneously. The way everything the Idiocracy does ends. Bad ideas continue just long enough to convince everyone they will go on forever, so they can leverage themselves 100% to the impossible. And then Black Swan dive into pavement.
There wasn't just one Bernie Madoff on Wall Street, there is an entire generation of Madoffs on Wall Street...
In the context of the Dow giving back 20 months of gains...
Aug. 21, 2015: Barry Ritholtz:
Is the bull dead? [Of course not. Don't be asinine]
"The primary upside to the U.S. economy has been job creation, housing and demand for capital."
The Non Sequitur...
This inexplicably is a chart of jobs he posts separately the exact same day:
My Comments: There were 11 million new McJobs created during the "recovery", but the population of the U.S. increased by 20 million since 2007 i.e. the population of Australia:
Aug. 22, 2015 Barrons
Emerging Markets Are Leading The Plunge In Global Markets. Why It Will Get Worse
To paraphrase:
Unfortunately the Wall Street fantasy of the U.S. "decoupling" from the rest of the world when it comes to market risk, was a fantasy.
China's economic slowdown is worse than anyone expected, with economic activity now at 2009 levels.
Emerging Market economies are in a vise between high debts and slowing economies. Lowering interest rates will stoke inflation and further tank their currencies. While fiscal stimulus is not an option.
Is the Bull Dead? Blind men want to know...
Change from 52 week high (A Bear market is -20%):
Oil (WTIC): -62%
Russia: -45%
Shanghai (China) - 32%
Brazil: -26%
Taiwan: -23%
Hang Seng (Hong Kong): -21%
Apple: -20%
German Dax: -18%
Malaysia: -17%
Singapore: - 16%
Thailand: -15%
U.S. IPO Index: -14%
Canadian Dow: -13.8%
Australia: -12%
Russell 2000: -10.7%
U.S. Dow: -10%
The latest generation of leveraged Etraders: -100%
The U.S. IPO market died this week:
"Is the bull dead?"
As always, wrong question.
2015: The year the Idiocracy swan dived into the abyss. With some assistance of course
Copper with global growth (to be revised shortly):
