Friday, January 24, 2014

The Best Economic Freudian Slip of 2014

January 24, 2014
The stock market correction is finally here

Hammered by weak economic data in Asia, South American turmoil and a stream of weak earnings reports from blue chips like IBM (IBM) and McDonalds (MCD), the S&P 500 (^GSPC) is down sharply for the weak and off more than 1% in 2014.

Emphasis added.

I know it is only the 24th of January but I think we have a winner!


Cinco-X said...

It's still early...

Stagflationary Mark said...

Yeah, I'm taking a risk here.

The Economy Is Doing Bettor Than Expected

US Banks Have Razed More Than Enough Capital

Just over 11 months to go! Things happen. ;)

Mr Slippery said...

The second part of the that sentence is even more shocking. Off 1% is a correction? I thought a correction was 10%? Expectations are still at the top of Space Needle.

Stagflationary Mark said...

Mr Slippery,

The 1% "corrections" keep adding up. We actually ended up with two of them today.

Why don't we just call it what it is?

Chain Lightning Prosperity!