RE:RE:Goodbye $13 it was fun while it lasted
Yes the company lost 30 million, no surprise. They actually made money on currency exchange this quarter. Stocks are dropping because of the yield curve inverting. "The collapse in global yields has been a theme since October of 2018 with the US 10 year dropping to 1.6% from its October 2018 high of 3.25%, but only now that the 2 year/10 year yield curve has inverted are the official recession alarm bells ringing. Why? Because every single recession in the past 45 years has seen a 2 year/10year yield curve inversion preceding it" The problem is the European Central Bank and Bank of Japan are still a zero rates from the last recession?!?! How can they juice the system when they can't cut anymore? They have no ammo. The last two recessions the Fed had over 500 base points to cut. At this point they have only 200 base points. That's it. That won't be enough liquidity to juice the system. Liquidity is the only thing that is holding the markets up.