First Quarter GDP ex-deficit was downgraded to -1.1%
Fed governors pounded the table for a March rate hike
Trump promised to "rebuild" the largest military in world history by taking humanitarian foreign aid to zero, previously it was still a rounding error. Currently the U.S. is only spending 600% more on the military than the entire rest of the world, on a per capita basis. Not nearly enough for the draft dodger-in-chief to prove he has large hands.
Trump promised a "huge" tax cut for everyone, including those who pay no taxes because they have no income aka. the former "middle class". He will pay for it using Hegemonics, because every exceptional dunce knows that debt is "GDP".
Trump promised a "huge" infrastructure spending bill, and he pays no taxes, so really why not?
Oil dropped to the lowest level in three weeks finally succumbing to record oil and gas inventories, record speculation, and "news" that Russia was cheating on the production agreement. No one saw that coming.
Financial stocks enjoyed a blow-off top identical to September 2008, with financial asset positioning at the highest level ever
The most overvalued IPO since the Y2K peak was overpriced at $17/share and then rocketed 70% higher in 2 trading sessions
Warren Buffett gave sage advice at the peak of the largest bubble in human history, saying that stocks still look cheap relative to the amount of printed money. No one could argue with that logic.
Consumer ConnedFidence hit a 15 year high even as the entire retail sector imploded ex-Amazon,as the number of distressed retailers reached the highest level since the 2009 Great Recession
"Then they all agreed that no one was allowed to see it coming, because after all they didn't see it coming the last two times either. And they didn't want to break their unbroken streak of being serially conned dunces"
La la Land Wins!!! Just Kidding...
The chart of the week is Natural Gas, which shows how quickly mis-allocated capital can be wiped out, when greedy dunces realize they're greedy dunces...