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-treasury yields have sailed off the edge of the market bull’s flat earth into a realm they have never before seen! Never before seen! The ten-year bond dropped to 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. (Remember how all the permabulls were going on about how this market had plenty of room to run?)
The superlatives go on and on.
Read the rest here: http://thegreatrecession.info/blog/market-is-a-bloodbath/