One Step Closer to Recession
by Jeff Opdyke
The Sovereign Investor
And so our year commences with a quick dive.
Stocks tanked on Monday on fears (yet again, though still misplaced) that China’s tumbling stock market portends an ill wind for the world. By the way, that’s wrong, but that’s a topic for another day.
I was looking elsewhere on Monday — namely at beautiful snow drifting down upon farmlands in western Virginia as I was driving back to Louisiana from a short stay in New York. I caught wind of the rout on Wall Street. I heard it was because of China. Seemed plausible; investors regularly wet themselves when they perceive bad news from China. The more likely villain was a recognition that, whoops, maybe Yellen and her henchmen were a tad premature in raising interest rates…
A key gauge of manufacturing in America — the so-called Institute of Supply Management (ISM) Index — fell for the sixth consecutive month in December.
Continue Reading at TheSovereignInvestor.com…
Source: http://financialsurvivalnetwork.com/2016/01/one-step-closer-to-recession/?utm_source=rss&utm_medium=rss&utm_campaign=one-step-closer-to-recession
