Wow. It's only Monday and the markets are getting creamed. The SPYs are down 4.34%, the QQQQs are down 3.65% and the IWMs are down 4.75%. The bottom line is the markets are not happy with the way things are going. And there is plenty of reason to be unhappy. First, let's take a look the economy. What follows is a piece from my blog from earlier today titled, "If It Walks Like a Recession and Talks Like a Recession": The standard press definition of recession is two consecutive quarters of negative GDP growth. However, the National Bureau of Economic Research -- the organization that officially dates recessions -- uses a broader definition: The committee places particular emphasis on two monthly measures of activity across the entire economy: (1) personal income less transfer payments, in real terms and (2) employment. In...
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