July Archive

Something went wrong in July

[Skip to the end] Something went wrong in July. Most of the charts look like this: It might have been the fall off of the q2 fiscal adjustment, the Olympics, the Lehman collapse, and/or, of course, the GMIL (Great Masters Inventory Liquidation). And inventories also took a dive, from not all that ...Read More

What happened in July?

[Skip to the end] Through Q2 08 GDP was muddling through with modestly positive numbers. Then it hit the wall in July as crude oil and the commodities in general broke down courtesy of Mike Masters and Joe Lieberman. Soon afterward the main street credit crunch intensified. What I now suspect happened ...Read More