The unease spread to Europe, where the Pan-European Stoxx index fell more than 2 percent in early trading, with every major market on the continent recording declines. Buffet now has 4% of all the US Treasuries that exist in a move out of Apple and going heavy on cash. Unemployment Friday reached a point high enough to signal the “Sahm Rule” which is a very simple never fail rule signaling when we are already in a recession. Politicians and pundits tell us we’re crazy and that we are making more money than ever and things are great. Investors are screaming at the Fed to lower rates, but this downturn was precipitated by unemployment numbers, not rates.

Source: New York Times August 05, 2024 17:43 UTC