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Registered Investment Adviser Caleb Lawrence

 

Decent early market action gives way again to mediocrity entering the final hour. Since Monday the Standard and Poors 500 Index has lost 30 points or 1.3% while the NASDAQ has given up 61 points or 1%. An interesting week that saw Trump rubber hit the road, trouble is there wasn’t much of it.

February Durable Goods Orders gained 1.7% slightly ahead of expectations on strength in volatile transportation orders. The proxy for business spending non-defense capital goods ex-aircraft remained weak slipping .1%. Again, national level indexes fail to confirm the significant strength seen in the regional Fed manufacturing reports.

One of the most surprising trends of the last 20-years or so is how spectacularly wrong and wide of the mark central banksters and mainstream economists have been. Oblivious to the perils of debt and easy money they missed the Dot-Com crisis, overreacted creating the real estate and financial crisis, that they also missed. Went on to reward the criminogenic control fraud banksters with bailouts in the aftermath of the last crisis using taxpayer funds to boot. Worse they responded to the last crisis, that was largely created through a lack of enforcement of existing rules, as per the financial crisis task force, with the creation of even more rules and yet less enforcement. In turn setting up a 3rd consecutive debt fueled asset bubble that makes the last 2 look like practice runs apparently convinced that it’s possible to borrow one’s way to prosperity. I hope to god its different time I really do as their policy responses will be primarily limited to printing money and throwing it out of helicopters if the wheels come off again.

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