Source. One year chart.
I
don't know. This is the only thing I can see today. I was pretty amused to read
articles about the dollar "slumping" today over yesterday. You see, yesterday
the dollar was at 99.21. Today - 98.85. I can't even believe I regularly check
the dollar now. It's ridiculous, but it's really hurting our companies.
I
started watching it over the summer when it was at 98.50ish. The latest run up
from 94.ish started right after the Fed insisted they were going to raise rates
in Dec. All I know is there is pretty nice rental in my city that has been on
the market for over 100 days. That is unusually soft for the rental market. It
isn't hard to rent nice places. It's
hard to rent crappy places.
One
of those brand new houses someone made into a rental has been on the market
almost 60 days now. I told you - buying a new house for a rental is weird, and
those people might be shitting their pants. 2 months without income after you
just bought a brand new effing house? Average rental time now looks to be
approaching 30 days.
When
the rental market starts becoming soft - you better hold on. Even through the
whole recession it didn't fluctuate that much.
Deflation
is fully working it's way through the economy now. The end of the year could get
interesting. The Fed incessantly insisting they are going to raise rates making
the dollar stronger. Which makes oil get weaker. Someone is going to go
bankrupt.
Not
to mention we haven't really had any tax selling for a few years. I read over 44% of
all stocks are down at least 10% YTD; only 32% are positive for the year;
another 77% are either flat or down more than 10%; the Dow Jones Transports
index is down 10% YTD; utilities down 3.5%; the Russell 2000 down 2.5%; biotechs
are down 18% since late August.
I
think the economy hit an iceberg a couple of months ago. We are in that Wile Coyote phase right now. Just waiting to realize we are floating in air.
10 year chart.
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