What’s The Frequency Janet?
Once again, in spectacular fashion, the financial ‘markets’ have miraculously rebounded from the aptly moniker’d ‘Bullard Bottom’ and without pause has traversed in a near vertical assent to recapture the levels where all the uncertainties began. In other words, after all the gyrations over the last 14 months we are once again only back to the levels (as scored by the U. S. financial markets e.g., Dow, S&P, et al) where the Fed stood confidently in their economic policy acumen.
Remember those confident proclamations during that time? (paraphrasing) ‘The economy has recovered quite admirably as to allow the QE (quantitative easing) program to end.’ That was a good one, no? Remember what happened next? Nothing, as in the ‘markets’ basically went nowhere up, nor down for months on end.
Sure there were some great headlines made of this path to nowhere as the market screamed sideways in a pattern much like a cardiac reading with blips and spikes that allowed headlines such as ‘New Never Before Seen In The History Of Mankind Highs!’ on a near weekly basis. Yet, although those headlines were true, all they did was mask the fragile, ever deteriorating economy those ‘meters’ were hooked to.
This post was published at Zero Hedge on 03/20/2016.