In this week's Off The Cuff podcast, Chris and Mike "Mish" Shedlock discuss:
- The Fed's Faulty Fears
- The people running it are concerned about the wrong things
- Are We At A Market Top?
- Hard to call it, but it sure feel so
- Europe's Woes Are Worsening
- Capital is fleeing, while debts grow
- Our ""Markets"
- Nobody but central banks and bots buying these days
This week, Mike returns from a trip to Iceland with fresh perspective on the situation in Europe.
He sees Europe's woes as worsening (and Chris agrees). The Greece situation is in no way improving, at least in terms of the heavy lifting that going to be needed to address that country's debt obligations and implement much-needed reforms. The recent calm due to the latest negotiated agreement by no means "fixes" anything.
Meanwhile, on this side of the Atlantic, the Fed continues to pontificate and bloviate without revealing any shred of insight for how it's going to navigate out of the mess it has created. Mish sees it as still fixed on inflation, which seems crazy given all of the very visible signs that deflation is increasingly wining the day.
And speaking of deflation, both Chris and Mish feel that we are seeing a plethora of signs that the market may indeed be topping out.
by troika