Icahn said he does not believe in earnings of most corporations. They are financial engineering. He went into energy/commodities because it will make a lot of money for investors over 2 yrs. When others figure that out money will flow in commodities because at the end of the day there are real assets backing these companies.
If the fed raises interest rates before EMs have stabilized, USD will lose its reserve status.
They are blaming china. They are afraid of a fed rate hike which would put US on the list of countries entering recession.
The market was complaining about the spread between long and short term. Raising rates will cut that spread. It has nothing to do with GDP. GDP growth was fueled by inventory buildup which needs to be consumed or we are going to enter recession.
China should not interfere in their markets. This problem was created because of cheap money in US that funded losing projects overseas. Now all the debtors overseas are insolvent. This is not any different than the financial crisis. You will see a QE4-7
As long as everyone is publishing articles doubting this crash there is a good chance we will close at lows.