If you are wisely skeptical, the calls to slow rate rises when we are barely above negative real rates should be telling you why stocks are vulnerable to a big decline. Last bubble peak rates were 5.25%. This time everything collapsing far, far lower b/ debt was the growth🤨 pic.twitter.com/Bycf933eh2
— M/1_LP (@MI_Investments) November 23, 2018
Stan Druckenmiller: We’re in the most economically disruptive period since the 1880s and there’s been no bankruptcies. As quantitative easing turns to quantitative tightening, all these zombies are going to be exposed. https://t.co/WG5hrUW33M pic.twitter.com/9bSwWmrhkX
— Jesse Felder (@jessefelder) November 21, 2018
Whether it’s oil crashing, not knowing if the momo tech unwind is over, GS hanging over entire financial group….I don’t know how you can be bullish outside of trying to time an oversold bounce.
— aubrey plaza accord (@selling_theta) November 23, 2018
Black Friday Sale in Tech Stocks, % Below 52-week High…$FB: -39%$AAPL: -25%$AMZN: -25%$NFLX: -38%$NVDA: -50%$GOOGL: -20%
— Charlie Bilello (@charliebilello) November 23, 2018
US Markit Manufacturing #PMI at 55.4 – resilient! pic.twitter.com/Z1Ka6d37xs
— jeroen blokland (@jsblokland) November 23, 2018
*U.S. IHS MARKIT NOV. MANUFACTURING PMI AT 55.4 VS 55.7 PRIOR
*U.S. NOV. COMPOSITE PMI AT 54.4 VS 54.9 LAST MONTH
*U.S. NOV. SERVICES PMI AT 54.4 VS 54.8 LAST MONTH— Teddy Vallee (@TeddyVallee) November 23, 2018
Are interest rates the problem, or is it a monumental increase in debt over 10 yrs that replaced organic growth by papering over structural problems? US $10T–>$21T in debt to buy 2% GDP growth and the saturation point of debt being reached globally? The debt was the growth 🤨 pic.twitter.com/FaLD0YtiA2
— M/1_LP (@MI_Investments) November 23, 2018
Sentiment….for what it's worth pic.twitter.com/Y9ZMeMMNhJ
— M/1_LP (@MI_Investments) November 23, 2018
Oil is getting obliterated.
Commodities destroyed.
Goodbye reflation trade pic.twitter.com/yGY00l94mP
— Daniel Lacalle (@dlacalle_IA) November 23, 2018
The credit contraction is starting and recession follows. See “Rates Roil Small Mortgage Firms” on the front page of the WSJ. The # of U.S. nonbank mortgage lenders has shrunk 3.5% from a year ago; over half of the $1.26 tln of mtg originations came from this group this year.
— David Rosenberg (@EconguyRosie) November 23, 2018