“I’ve seen things you people wouldn’t believe… Attack ships on fire off the shoulder of Odessa. I watched broken dreams of effervescent markets glitter in the dark near the gates of the Eccles Building. All those moments will be lost in time…. like tears in rain…. Time to die…”
I meant to post a comprehensive market update today but then decided to just put together a video. Bottom line: Nobody is going to come to save us this time around and I foresee much ugliness looming ahead. After more than a decade of QE the Fed’s hands are basically tied and it had to make a choice: Keep elevating equities or destroy consumption and save the U.S. Dollar (whatever’s left of it) and its reserve currency status.
Okay let’s start with the BAD news first and then top it off with some GOOD news. We certainly could use more of the latter these days. First up the financial markets as a whole are royally screwed. Only exception perhaps would be energy and commodities right now (later down the line they’ll crash as well, but we’re not there yet).
If you’re feeling a wee bit overwhelmed by the non-stop doom & gloom and the depressing news that seems to be saturating the mediascape these days then you’re certainly not alone. Given the increasing chaos that inches ever closer to home it’s easy to find yourself stuck in a rut or to fall prey to a sense of hopelessness and fear of the future. My personal remedy to weather through what I call the ‘age of despair’ (you heard it here first) is very simple.