The most important market to watch in terms of where we go next is in my opinion Germany...and it is stumbling...in addition, the US equity markets have essentially remained at the same prices as on the suspect Non-Farm Payrolls report.
The risk rally in the US has taken the indexes up substantially higher than most other equity markets. It has also created an atmosphere where Apple at $500 is not enough...where great financial risks no longer matter. Apparently, people are feeling that the best way to drive an old bus - brick wall dead ahead - is to floor it to 100 mph even though they know the wheels will fall off at 60. In their scenario, miraculously, they imagine that when they hit the wall, the momentum of the bus will keep it wholey intact yet obliterate the wall.
Michael Hudson: Trump is Obama’s Legacy. Will this Break up the Democratic Party? - The Democratic Party will keep losing as long as it remains the party of "no hope or change" for the 95%.
1 hour ago