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A Tale Of Two Streets: Main Street Lagging, Wall Street Booming

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The most important number in today’s GDP revisions for Q4 was $16.20 trillion. That’s the annualized constant dollar (2009 $) value of final sales during the quarter and, naturally, it was not mentioned in any of the media reports. But its important because the final sales figures strains out the noise of quarterly inventory fluctuations, and thereby provides a reasonable benchmark for where…

Jesse Felder’s Beard Has Spoken

I’ve written plenty about the markets over the past six months since I started growing the correction beard. But I regularly get questions related to one post or the other that I’ve already answered somewhere else. So I thought I’d try to write a more comprehensive view aggregating much of what I’ve written over that time […]

The Bottom’s Not In——Why This Market Is Dumber Than A Mule

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They were trying to put in a bottom—–again! The sell-off earlier this week amounted to the sixth sizeable “dip” since November 20—-so the market’s ingrained reflex was back at work all afternoon, trying to scoop up the “bargains”. But the roundtrip to the flat-line shown below is not a classic wall of worry and its not a “bottom” that’s being put in. This market is dumber than…