by Peter Coyne
“Yes, Janet Yellen is a bit worried about her meeting with Joe Biden today” announced one Twitter onlooker this morning. The attached image spoke for itself…
[…] Everything seems just peachy this morning. Stocks, gold and oil are all in the green.
The S&P 500 is at 2,054, just about where it was 18 months ago. There’s been some fun dips and outbursts along the way. Meanwhile, the real economy’s continued to deteriorate.
“Earnings have been falling sharply and macroeconomic headwinds have been intensifying dramatically,” explains our colleague David Stockman. He has more details at his ContraCorner if you’re interested.