Stocks tried to rally today, but slumped quickly, falling to fresh closing lows.

Wash and rinse.

The Dollar rallied in a flight risk from other currencies primarily, particularly the Sterling, the Euro, and the Yen.

I have included a longer term Dollar chart showing how the DX index peaked at levels like this in the crash of 2001 and 1987.

VIX was flat, but remains elevated.

 Now that the latest wealth transfer bubble has burst, one would expect that the very wise and important will be calling for austerity, and for the common person to pay the price for this folly.

The wiseguys are already setting their agenda for Medicare, Veteran's Benefits, and Social Security.  

Same old, same old.

Have a pleasant weekend.

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