This Market Is a “Wheelbarrow of Dynamite” Waiting to Blow

[marmar]

This Market Is a “Wheelbarrow of Dynamite” Waiting to Blow
by Bill Bonner • August 28, 2015


DELRAY BEACH, Florida – It’s hot in Florida. Steamy hot. Hair curls and bodies go limp.

The “relief rally” continued yesterday. All over the world, stocks gained. So did oil and commodities. (More on that below in today’s Market Insight.) The Dow was up 369 points – a 2.3% move. Chinese stocks were up by about 5%. Why?

U.S. GDP numbers for the second quarter came out higher than expected. The economy grew by an annual rate of 3.7%. And influential New York Fed chief William Dudley said the argument for a rate increase in September was “less compelling.”

A Decline in Excess of 50%

Oh, ye of little faith… fear not! Things are happening just as they should. It is the end of summer. Markets are giving strong hints of things to come in the fall. Like Vesuvius, a plume of smoke rises… and a cloud of dust hangs over the markets. The economic earth rumbles… and animals take flight.

But in come the cronies to tell us not to worry about it.

And who knows what happens next? ...................(more)

http://wolfstreet.com/2015/08/28/this-market-is-a-wheelbarrow-of-dynamite-waiting-to-blow/