We have no idea how to even comment on this latest observation by “world-renowned”, if allegedly dead now that oil is again well above $44, commodity expert Dennis Gartman, who in his latest letter writes that World War III “has begun in earnest:”…
Why now? Perhaps the markets are indeed concerned that the Federal Reserve Bank may pass on raising rates at its meetings this week, but will be moved to raise rates at a later time.
Or perhaps the markets are concerned that global economic growth does indeed seem to be waning and that a global recession lurks around the economic corner?
Or perhaps the world is concerned about the vote in the UK next week which is swiftly moving toward the UK leaving the European Union and thus the likelihood of other members of the Union at the periphery choosing to follow London’s lead.
Or perhaps the world is finally awakening to the fact that World War III has begun in earnest; that the Islamic World and the Judeo-Christian world are now truly at war in the aftermath of the murders in Orlando over the weekend. We are of the latter school of thought. We are convinced now that even the Obama Administration can no longer avoid the facts of the age; that Islam and the West are at enmity one with the other and in this light equity investment is wholly ill-advised. Add to that the concerns about the Fed. Add to that the concerns about global recession. Add to that the concerns about the UK and the European Union and one has the makings of serious equity market weakness.
Full article: Gartman: “The World Is Finally Awakening To The Fact That World War III Has Begun In Earnest” (Zero Hedge)