Wednesday, January 14, 2015

Today's "Disaster Scenario" Not Even Preview of Things To Come

Today's 'disaster scenario' will look like child's play when safe havens like US Treasury Bonds are challenged by the wolf pack. October 19, 1929. "Gentlemen prefer bonds," said Andrew Mellon (1855-1937), wealthy American financier, banker, and U.S. Treasury Secretary. Those that heeded this advice with action were crushed by the invisible hand by 1932.

Headline: "Disaster scenario" comes into focus as stocks, commodities slump

Slumping commodity prices, a disappointing U.S. retail sales number and the World Bank's cut to its 2015 global growth forecast triggered a flight from "risk" assets Wednesday morning. In recent trading, the Dow was down nearly 1% while commodity prices hit a 12-year low as copper suffered its biggest drop in six years. On the flip side, U.S. Treasury yields fell to record levels and gold prices rose as traders searched for "safe havens."



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