4400 points in 2 Days?
I wouldn't bet on it at this point. But it sure as hell is as crazy as I have ever seen it.
Ex Fed Governors and John Bogle saying this is the most challenging periord since WWII? That was the Depression folks for those not old enough. You have a publicly traded homebuilder issue a going concern warning and the stock price goes UP!!!!! The fed says rising inflation is becoming more uncertain and it cuts interest rates 25%? The treasury secretary warns that the economy is slowing rapidly and the market goes up over 400 points?
Let's think about this for a second, rapidly slowing economy and rising inflation sets the foundation for what? How about a falling dollar, rising oil prices, and now companies reducing by the tens of thousands. Today Delta offered voluntary retirement to 30,000. What if they don't voluntarily retire?
Balance sheets around the country are contracting as defaults continue to rise. I am not sure how cutting rates will resolve an insolvency crisis. All I know is that based on my conversations with multiple bankers and accountants, many have never seen anything like this........ever.