The PPI (Producer Price Index) this morning was shockingly negative.  

And so stocks rallied, on the basis that since we are seeing so many deflationary indications the Fed would not be raising rates anytime soon.

Again I would like to reiterate the Le Café view that the Fed never had any economically based intentions of raising rates at any time in the recent past.   

They would like to add a few basis points of upside for their own policy purposes, to get off ZIRP so that they can cut rates in the future when The Recovery™ they and the government have been touting is exposed as a fraud.

And so our standing forecast of a symbolic raise of maybe fifty points, in two steps, will be it, and unless we see some genuine signs of recovery which we have certainly not seen yet, that will be it until the next financial crisis comes probably as a result of the collapse of this current financial asset bubble in stocks and bonds and Dollars.

It was almost funny to see a price manipulation hoax perpetrated on the stock of Avon today using the sec website to propagate a phony takeover offer from a fake private equity firm. Well, that is how things are in bubble land. Buy first and ask valuation questions never if you can keep the momentum going.  Just look at Shake Shack.

Bloomberg TV has been slavering all over Kim Kardashian and her new phone app games all day. I think the whole thing is emblematic of our culture and the one percent. Someone asked if I have nothing good to say about Bloomberg TV these days.   

I do think Alexis Steele's new haircut is really cute.

Have a pleasant evening.