It’s a Bloodbath, and There’s a Toaster in the Bathwater
By David Haggith
TheGreatRecession.info
February 28, 2020
It just can’t get bad enough, and I can ‘t write fast enough. The headlines at the end of the week are now stunning, so I’m going to share several of them along with some quotations from the bawling and dying market bulls. In just one week, this has become the fastest stock market plunge since the Great Depression! So, if you have a bull you love, save his bullish butt by nailing upper-story windows shut.
Over six-trillion dollars in market value has been shredded, and safe-haven US-treasuries have sailed off the edge of the bulls’ flat earth into nether realms bond yields have never before seen! Never before seen! The ten-year bond dropped to a nadir of 1.12% during the day on Friday. The two-year took the sharpest weekly plunge in yields it has taken since 9/11, ending below 1%.
It’s now the worst start to a year for stocks since 2009 … and best climb for safe-haven bond prices imaginable for those who moved to bond funds well ahead of the carnage. (Remember how all the permabulls were bellering just a few weeks ago about how this market had plenty of room to run?)
The superlatives for the sheer majesty of this market cliff go on and on.
Let me redraw the bath for you
The Rest…HERE
