Wow. For three weeks markets have simply ignored all bad news. Lots of it.
Today, in a stunning turnaround, equity markets are actually trading down based on bad news. This type of behavior hasn't been seen since the beginning of QE2. It is truly bizarre to watch markets actually behave according to news and data. Media types now asking if this is a double dip recession.
Nope. It's the same old one- minus the secret loans and FED counterfeiting. After 4 years, you'd think folks would catch on...but maybe not. http://money.cnn.com/2011/06/01/markets/markets_newyork/index.htm