Global markets are about to correct 10 to 20%
You heard it here first. 0nly 1/3 of Dodd Frank implemented. 1 out of 3 homez in foreclosure Total dollar amount is $4 trillion an this is reliable data. That's 25% of our GDP. Banks can't liquidate because GDP would go from 16 trillion to 12 trillion. US Debt is going to 22 trillion. If we go to 12 trillion with debt of 22 trillion we are a banana Republic. FED lost its equity of 55 billion two weeks ago an remains insolvent. Foreclosed properties rotting because there are no buyers an losses are only realized when the asset is sold. If JPM missed Dodd Frank will be enforced. Assets will be sold. US job market can't proceed unless we start building ghost towns an that's not happening. Lets see what Jamie Dimon Casino had to say tommorrow. Action from the pit says JPM goes to $46 next week. It's trading at $55 now. I wish I saw this today. I missed the trade
IDP, the refiners and VLO are going to take a good hit. If Q2 is not good based on what has been said what about Q3? It is not starting out to hot for the refiners either. Now the rest of your global statement I'm calling BS on that one. This market loves Ben's put too much and no serious tank is eminent. Just not gonna happen here. But the refiners are in trouble.