Anything Else Is Just Noise

Monday, August 24, 2015

What a wild ride!  The Dow has shed 1674 points (9.5%) over the last week with 1119 points of this coming from just the last two days.  The Chinese stock bubble continued to pop, and commodities continued their sell off as well.  People rushed back into the Yen, Euro and Pound as a flight to safety.  This upset is global and broad based.

An interesting observation is that almost all global stock markets have taken a big hit over the last two days.  This shows just how interconnected all of these stock markets are.

2014 Global Economic Growth

FFC's estimate of global economic growth for 2014 is 0.9%, down from 1.8% in 2013.  U.S. economic growth for 2014 is estimated at 1.1%.  China's growth for 2014 is estimated at 2.6%, down from 3.7% in 2013.

Global economic growth continues to slow as China and the China Complex continues to slow.

As you may notice, these growth numbers are much lower than the GDP growth rates published elsewhere.

2nd Quarter U.S. GDP Growth

U.S. second quarter GDP growth rate was revised up from 2.3% to 2.7% (year over year).

FFC's own, internal measure of real economic growth puts the U.S. real economic growth rate at 0% (zero) in the second quarter of 2015.

S&P 500 Stock Index Forecast

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Current Economic Indicators

August 31, 2015 (Close of Day)



S&P 500 1,972.18
US GDP Growth, % 2.66
US Inflation Rate, % 0.17
US Unemployment Rate, % 5.3
Gold Price, $/oz 1,134.70
WTI Oil Price, $/bbl 49.20
US 10 Yr Treasury, % 2.21

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