Skip navigation

Except for the stock market, which soared on news of another rate cut, the US economy looks worse and worse–deflation, unemployment, and the lowest Federal Funds Rate ever.

Consumer prices fell at the fastest rate on record in November, while home construction skidded nearly 20 percent to its lowest levels in 50 years, according to government data released Tuesday.

Maybe I am overly pessimistic, but I don’t even expect stock prices to stay high. Tomorrow will likely be dominated by cautious profit-taking.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: