Shipping rates are crashing again, crude crashed, bitcoin crashed, stocks crashed last month, commodities are in turmoil, etc… Why is all happening in "the greatest economy ever." Could markets be at a turning point? I think that is a high probability pic.twitter.com/OYr95g7kOh
— Alastair Williamson (@StockBoardAsset) November 15, 2018
Sure looks like the posture of the S&P 500 is super charged attack position time to catch down to the rest of the world mode. May not be scientific, but that is an aggressive downside stance. $SPX $DJI pic.twitter.com/Pzfpb4585n
— hks55 (@hks55) November 14, 2018
Philly and NY Fed manufacturing surveys had these in common: weaker orders, jumping inventories (unintended), soft backlogs and margin crimp from prices-received/prices-paid divergence. Poor backdrop for Q4 GDP.
— David Rosenberg (@EconguyRosie) November 15, 2018
What really stood out in the retail sales data were restaurants, a classic leading indicator. Sales here fell 0.2% MoM in October, the 3rd straight drop, and at nearly a 7% SAAR. This hasn't happened since December 2000, three months before the recession that nobody saw coming.
— David Rosenberg (@EconguyRosie) November 15, 2018
Oct.'s gain in retails sales was due to consumers paying higher prices for the things that they bought, not buying more stuff. Higher gas prices in particular, as well as a .5% jump in import prices, are obvious culprits. Don't be fooled by inflation. The economy is weakening.
— Peter Schiff (@PeterSchiff) November 15, 2018
Greenspan Says US May Be Seeing the First Signs of Inflation
Bloomberg–5 hours ago
Former Federal Reserve Chairman Alan Greenspan said a rising U.S. debt … raising concern the country’s debt load of more than $21.7 trillion will grow out of …
US government posts $100 billion deficit in October