KINGSTON, NY, 26 SEPTEMBER 2018—Business news reporting has dumbed down to juvenile, non-journalistic stupidity. Each day they give one simplistic reason for markets moving up or down.
For most of the year it's been trade war and tariff fears. Earlier it was North Korea, and just this past Monday they blamed the equity market decline over concerns Deputy Attorney General Rod Rosenstein will be fired by President Donald Trump.
Who would follow these simplistic explanations in making financial investment decisions while discounting core market fundamentals, such as earnings, P/E ratios, Gross Domestic Product forecasts, real estate trends, retail sales, industrial production, etc.?
But while the media obsessed with false flags, we have repeatedly warned of alarming developments that could trigger sustained downward trending in equities should they continue to intensify: Spiking oil prices and rising U.S. interest rates.
On the oil front, Brent Crude hit $82 a barrel on Tuesday, its highest mark since 2014.
OIL RISES AS ECONOMIES WEAKEN