(Compilation -- posted Monday afternoon, August 5, 2019)
In one sense, this new correction for stocks since new highs were reached a mere two weeks ago is not that remarkable yet. Through Monday afternoon, the S&P 500 was down but 6% from those highs. Bulls and other "buy the dippers" concede we may yet again have a fast, sharp 10%+ pull back. . .but that soon after things will right themselves. . .Trump and China will make a deal so as not to risk more misery. . .and all will be well again.
Not so fast.
A LOT more is wrong now. . .and can go wrong still. . .than what presaged those sharp pull backs at both ends of 2018. Over the weekend and again today I spoke to these things; everything from the Fed being late to the easing party, some of the Trump team and their shockingly ignorant understanding of currency markets. . .a supposed "currency war" with China turning into a currency CRISIS. . .and more.'
For those who have missed any or all of the below, here are two podcast links and two commentaries/market reports just since last Friday, the 2nd:
- Last Friday's market wrap podcast, discussing the Fed, Trump's threats to pull off an "assisted suicide" for the US Dollar (or try to), tariff threats and more.
2. Saturday morning's distributed market comments:
3. This (Monday) morning's comments on the SHOCKING turn of events within the Trump White House, showing who now is more in charge of his China strategy!
4. This morning's podcast, discussing the markets and the rapidly escalating chances of a currency and financial crisis starting in Hong Kong and/or China. . .and spreading.
As always, if you have any questions/comments e-mail me at firstname.lastname@example.org !