The chart of the day shows the velocity of money (data courtesy the St. Louis Fed) since 1959. It shows that the velocity of money is below levels observed in 1959. The velocity of money typically rises during periods of growth and falls during recessionary periods. So the recent plunge to new lows suggests that QE's from global central banks have really not worked and a major recession may just be lurking around the corner.
Oversold Rally — 0r More?
-
A strong oversold rally, aided by some earnings reports, has carried $SPX
back up to its 20-day moving average. It remains to be seen, though, if it
can fo...
20 minutes ago
No comments:
Post a Comment