Marc thinks that the consensus for higher in the near term and over the course of this year is probably incorrect. He sees a marked correction and the possibility of finishing the year in negative territory. Of course I would concur with that sentiment and note yesterday’s breakdown from the current rising wedge formations together with last week’s VIX market sell signal could signal that such a correction has either started or may be on the way soon.
His long range outlook has not changed – he sees the eventual demise of our current dollar system. Of course anyone who owns a pocket calculator can figure that out, if only they are brave enough to face the mathematical truth. (ht Keith Hoops)
Economic News , Data & Views ( May 30 , 2016 ) Quick Hits On Memorial Day (US) ( 1. Markets & Market Moving News : ECB Having Difficulty Generating Inflation Despite Spending 1000 BN Since March Of 2015 ; German Import Prices Fall 6.6% In April In Biggest Drop Since 2009 , But Note May CPI + 0.1 Y/Y and + 0.3 M/M ; USD Bets Jump On Fed Signals ; WMPs Bringing Default Risks Higher In China - Iron Ore Futures Fall to 3 Month & Yuan Fix Set At Lowest Level Since Feb 2011 ; Abe Postpones Sales Tax , Nikkei Jumps 1.4% . 2. Greece News For Monday : Deal With Creditors Not Quite Completed , Hurdles Remain ; Economic Data For Monday. 3.Libya Updates For Monday. 4. Odds & Ends. )
16 minutes ago