Axel G Merk's picture

Bailouts appear to be the established substitute for sustainable policy. In that spirit, Brazil last week announced a $60 billion program to shore up its currency. India has been introducing capital controls.

Michael Shedlock's picture

Secretary of State John Kerry says the use of chemical weapons in Syria is "a moral obscenity".

Sheraz Mian's picture

Syria jitters have added to the perennial Fed Taper issue for the market, though the Syria situation is unlikely to morph into become a full-blown war any time soon.

Clif Droke's picture

A key financial market barometer suggests another military intervention could be imminent. Plus an update on gold.

Jeffrey D Saut's picture

On October 10, 2008, with the S&P 500 (SPX/1663.50) at 839.80, the bottoming process began when 92.6% of all stocks traded on the NYSE made new annual lows. That’s a six standard deviation event, which is supposed to occur only twice in a lifetime.

Marc Chandler's picture

Considerably weaker than expected durable goods orders in July cast doubts on the momentum of the US economy in early Q3 as market contemplates Fed tapering.

John Mauldin's picture

Recently there have been a spate of horrific train wrecks in the news. Almost inevitably we find out there was human error involved.

Chris Puplava's picture

We’ve likely seen a short-term bottom as many indicators are deeply oversold like the percent of daily MACD BUY signals on the S&P 500, and with sentiment numbers reaching bearish extremes we may not be that far off from an intermediate low; time will tell.

Charles Hugh Smith's picture

An unprecedented tsunami of state-borrowed and Fed-printed money has failed to fix the systemic crisis.

Michael Shedlock's picture

Here's the deal: The Fed can inflate money supply, but it cannot control where the money goes. And typically monetary inflation goes into asset bubbles...