Just because a big break has not happened along the way doesn’t mean that it won’t. Timing the ending of markets that have been kited higher by easy money is impossible. It couldn’t be done during the stock bubble that ended in early 2000, the bond bubble that ended in 2008, and it can’t in this bubble either (especially given the epic size of QE). But it will occur. The question then becomes at what point will the stock market start to sink, and when will expectations for it, the economy, and the dollar all change? As noted, we can’t know that in advance, we can only react to change once it occurs.
Fed officials’ forecasts of how high rates will be at year’s end for 2015, 2016 and 2017 all fell compared to where they were in December. They marked down their forecast for economic growth and inflation for all three years, implying that the nation’s economic challenge is tougher and inflation risks more distant than they had seemed a few months ago.
A spokesman for the Blockupy movement said the troika was responsible for austerity measures which have pushed many into poverty.
Police set up a cordon of barbed wire outside the bank’s new 185m (600ft) double-tower skyscraper, next to the River Main.
One place where the resumption in dollar strength, however, has promptly manifested itself, is the price of crude, which soared yesterday as EURUSD rate differentials sent it soaring, At last check, WTI had fallen back to $43/bbl as focus returns to U.S. supply glut that saw prices fall to 6-yr low yday before FOMC policy statement gave prices a boost in U.S. afternoon. Yesterday’s gain ended a six-day losing streak. Today, Brent futures down less, allowing premium to WTI to widen toward $10. U.S.
ISIS And The Destruction Of History (jdargis)
All around the Middle East, archeological treasures of the ancient world have been stripped of their original glory—often, of what some call graven images. ISIS’s fanatics do so hatefully, as if to spite all others, but they are not the only perpetrators. Muslim extremists have long sought to destroy the physical evidence that any other faith worth valuing existed before their own. In March, 2001, the Afghan Taliban announced to the world that they would destroy the ancient, giant Buddhas of Bamiyan, and then, using explosives and artillery, proceeded to do just that. In the last decade, the Saudis, as the keepers of the Muslim holy places, have razed hundreds of historic sites in the cities of Mecca and Medina to make way for new construction, including shopping malls and hotels.
Workplace Suicide Rates Rise Sharply (jdargis)
Why do some people choose the workplace to take their lives? Researchers don’t know for sure but suggest that it could be an effort by some to protect family and friends from discovering their deceased body.
Sweating The Small Stuff (jdargis)
Political campaigns are growing more timid, and ideological purists are growing more precise with their purity tests. At the same time, social media is making us more reckless and honest in public. These two things cannot continue. Or they can continue, and campaigns will simply make the screen through which any comment or staffer must pass full of the tiniest holes. Unless you were fed on a constant diet of pablum from birth and promise to dispense the same, you won’t make the cut.
OPEC is contradicting both its own previous oil market report, and a similar report by the EIA by claiming that US shale could very well see declines by the end of this year.
Gold & Silver
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