Why Yellen Can Never Normalize Interest Rates

by Bill Bonner
Daily Reckoning

BALTIMORE – Yesterday, the Dow sold off – down 133 points. Oil traded in the $36 range.

And Donald J. Trump lost the Wisconsin primary to Ted Cruz.

Overall, world stocks have held up well, despite cascading evidence of impending doom.

U.S. corporate profits have been in decline since the second quarter of 2015.

Globally, 36 corporate bond issues have defaulted so far this year – up from 25 during the same period of 2015.

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