I tend to agree with you. This feels like the start of the dot com crash and the start of our troubles in 2007. The move from no volatility to 900 points a day is a sure sign that the machines don’t know what is happening.
Sure there is 4% unemployment. But I know my company is tightening its belt going into the next year. Debt is getting more expensive and that is sucking cash out of our business.
A one week rally is not going to fix all this.
I’ve been searching to see how the Bank for International Settlements is doing today, but nothing’s really coming up. I’ll have to check in the morning.