Economy

Meat, poultry, fish and eggs hit record high prices. Electricity too.

Manhattan condo sells for record $100 million.

Venture funding for tech reaches dot.com levels.

The move by the Swiss central bank to stop supporting the euro instantly bankrupted lots of traders, and it doesn't bode well for the US economy.

"What is seen regularly in markets is that traders instead of understanding the fundamentals of a situation, trade as though current trends will continue forever. When those trends reverse, the losses are enormous. Because most markets are rigged by central bank manipulations. the potential for all kinds of reversals in trends is possible. Almost no trader believes these trends can be reversed quickly, but when everyone believes they can’t and the trend does reverse, and the shift is recognized, it happens very quickly and the losses are massive. Currently very few (I am in a very small minority who does) believe that the fundamentals will ultimately result in very rapid price inflation (5% plus) and much faster hikes in interest rates than almost all expect, sometime by the end of 2015..Because no one is expecting these things to occur, the bloodbaths will be as bad as the Swiss franc carry trade bloodbath we saw yesterday, if not much worse. The year 2015 will be the year of bloodbaths, The Fed and other central banks have simply pushed their manipulations to the edge and they will be forced to reverse direction because of market pressures in the same way that the SNB was forced to give up its propping up of the euro. When this occurs, and traders trading based on current trends have to unwind their positions, financial markets will be rocked to the core."

The laws of economics won't be denied.