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  • Soon Comes The Deluge [David Stockman's Corner - The Market]

    01/20/2016 9:01:18 AM PST · by amorphous · 27 replies
    David Stockman's ContraCorner ^ | 19 Jan 2015 | Cavide Stockman
    The robo-machines are now having a grand old time hazing the August lows at 1870 on the S&P, and may succeed in ginning up another dead-cat bounce or two. But this market is going down for the count owing to a perfect storm. To wit, the global and US economies are heading into an extended deflationary recession; S&P earnings peaked at $106 per share more than a year ago and are already at $90, heading much lower; and the central banks of the world are out of dry powder after a 20-year binge of balance sheet expansion. The latter is...