Stocks almost erase 2016 losses as bulls charge... https://t.co/Idlg08tnPm— DRUDGE REPORT (@DRUDGE_REPORT) March 6, 2016
The idea that a minuscule 25 basis points December hike in interest rates was going to send the Fed manipulated boom crashing was always absurd. The rate hike is not going to be reversed and there are many more to come.
From the Reuters report linked by Drudge:
[U]pbeat reports in recent weeks have eased fears the United States may be headed for a recession.
Friday's jobs report was the latest signal that those worries were overblown, with February U.S. payrolls surging more than expected.
The S&P 500 has gained in 10 out of 15 sessions since its Feb. 11 low, and on Friday closed above its 100-day moving average for first time in 2016. Half of 10 S&P sectors - including energy, which had been severely beaten down - are now positive for the year...
"If you were pricing this thing for a recession, you've got to take it back out," said Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis. He added that the S&P 500 could test its high from May 2015, when it closed at a record 2,130.82.Austrian-lites really need to go back to the books and understand what Austrian business cycle theory is really all about.