Central banks have lost their aura of omnipotence.
Default Rate Highest since 2009, US Distress Ratio Soars.
The goods-based economy swoons.
A terrible deterioration.
CEOs, Wall Street are furiously making hay while the storm moves in.
"This will most likely drive a drawdown much like the one we saw in 2009 and 2010."
Now it’s getting serious.
This comes at the totally wrong time.
This trade has become blood-soaked.
But what’s different this time?
And monetary policies will be “ineffective”: Natixis
Businesses get “crunched” in the Oil Patch, consumers lose it, indexes hit Financial Crisis levels.
“Maybe this isn’t a great indication of the state of the economy.”
And it's far from over.
Just the tip of the iceberg?