Recession Fears Fading? ROFLMAO | WHAT REALLY HAPPENED


Recession Fears Fading? ROFLMAO

The news headlines explained the sudden jump in the S&P futures this morning by stating that “recession fears had faded.” Just like that. Overnight. I guess the fact that the housing starts report showed a 9% sequential drop in housing starts last month and and a year-over-year 10% plunge means that the housing market is no longer considered part of the economy.

That report was followed by a highly negative March consumer confidence report which included that largest drop in the “present situation” index since 2008. What’s stunning about this report is that consumer confidence usually is highly correlated with the directional movement of the S&P 500. Obviously this would have suggested that consumer confidence should be soaring.

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