To his credit, John Rubino, writing for Dollar Collapse, has focused on the actual economic portion of the news, and recently concluded that the past few weeks have been ‘strange’. As he writes, “The list of ominous events and trends has suddenly grown a lot longer.” Yet, the various real estate and financial markets continue in many respects to zoom higher.It’s been a strange couple of weeks. US stocks are not far from all-time records, both nominally and adjusted for inflation. Home prices are soaring – up 33% y-o-y in the Bay Area, to take just one of many possible examples. A casual observer might assume that things are going great.
But one level down on the headline ladder it’s a very different story. The list of ominous events and trends has suddenly grown a lot longer. Among the bombs that went off last week:
- Detroit Declares Bankruptcy
- Corporate Revenue Growth Stalls
- Portugal & Spain Descend into Chaos
