Tuesday, August 23, 2016
BOOM, BOOM: Austrian-Lites Nuked
Just a few short months after the December 2015 Federal Reserve rate hike, when Austrian-lites claimed the hike wouldn't hold and that the Fed would have to reverse the hike because it would send the economy into crash mode, the latest numbers out and stock market activity show the exact opposite.
All 10 sectors of the S&P 500 were up this morning trading and the NASDAQ hit a new all-time high.
Meanwhile, new home sales climbed to the highest level in nearly nine years.
The Commerce Department said that new home sales surged 12.4 percent to a seasonally adjusted annual rate of 654,000 units last month, the highest level since October 2007.
This is not what a recession looks like.
at 11:49:00 AM