Consider

Consider:

• Volatility spiked to its highest level in over 2 years.
• Global equities are in negative territory this year, led by Europe’s 10% decline.
• US 10-year Treasury yields fell more than 30 basis points intra-day yesterday.

Consider, too:

• Mortgage rates are down 100 basis points over the past year
• Jobless claims are at their lowest levels in 15 years
• Housing prices nationally are up 7% in the past year
• Gasoline prices are off 20% this year

I have no idea where the bottom is, or when we will get there. But if you believe the US economy remains reasonably robust and global growth, while slowing, will remain positive, take the recent market convulsions as a periodic regurgitation meant to damage complacent speculators rather than a harbinger of civilization’s collapse. Of course, holding a month’s supply of canned goods and ammo is a good idea, too.

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