Markets are feeling the pain of a Fed that just can't make up its mind.

Earnings from retail - not so good.

Global warming is the reason for this all!

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Warm Up

- A quick apology to Hobby Lobby

- Inflation ticking up - CPI and PPI not what the market wanted

- Change up, this Zip Code - now most expensive in country

- Arctic melt is coming - Doomsday Glacier

- WHAT? Water BillFlation

- Announcing the Winner of the CTP !

Market Update

- Bullard and Mester - Not liking the markets euphoria (50bps talk coming back)

-- Ever since they opened their mouth - market been in a tailspin

- Bird Flu - expanding - watch out chicken and egg prices

- Tesla flying high - stock back in vogue

- All-time high's for this country's main stock market

- Earnings finishing off - mixed bag, but points to concerning quarters to come

Bad Bullard (H/T Bespoke)

Bullard Speaks

Continuing on....

- Worst day of the year today...

- S&P 500 Down 2%, DJIA off by 700pts (2%, NASDAQ down 2.5%

- 10-year climbing toward 4% again|

- Blame placed on unusual strength of the economy - turning better last several weeks.

Water Bill

- $1,578 this month at the house - that is inflation!

- Full Story - No Leaks

Hot Real Estate

- Miami’s Star Island is now the nation’s most expensive neighborhood while the number of New York City areas where buying a home would set you back at least $1 million is on the decline, according to a new survey.

- The average price of a single family home on Star Island, the man-made enclave off the coast of Miami Beach that is home to celebrities including Shaquille O’Neal, Gloria Estefan, and Rosie O’Donnell, was valued at an eye-popping $40.2 million as of December, according to Zillow.

- 71% increase over 3 years

- Star Island is now four times as expensive as Beverly Hills Gateway in Beverly Hills

- NY real estate not lagging behind by much

--- January average rent for Manhattan apartment - ALL TIME HIGH

Bird Flu

- Could bolster inflation (food) again

- Outbreaks of the virus have continued in North and South America, Europe, Asia and Africa

- Farmers thinking about vaccines - once unheard of

- A company farm in Weld County, Colorado, was infected twice within about six months, killing more than 3 million chickens, Rust said. He thinks wind blew the virus in from nearby fields where geese defecated.

Twitter

- The Taco Bell of social media - introducing a new product update almost daily

- Twitter said on Friday it will allow only paid subscribers to use text messages as a two-factor authentication (2FA) method to secure their accounts.

- The company believes phone-number-based 2FA is being abused by "bad actors,"

- Twitter owner Elon Musk tweeted "Yup" in reply to a user tweet that the company was changing policy "because Telcos Used Bot Accounts to Pump 2FA SMS," and that the company was losing $60 million a year "on scam SMS."

Glacier melting

- Antarctica's vast Thwaites Glacier - nicknamed the Doomsday Glacier - say warm water is seeping into its weak spots, worsening melting caused by rising temperatures

- Thwaites, which is roughly the size of Florida, represents more than half a meter (1.6 feet) of global sea level rise potential, and could destabilize neighboring glaciers that have the potential to cause a further three-meter (9.8-foot) rise.

- Is this concern all about the displacement of the above the line ice?

Brexit - Who Cares

- The FTSE 100 is at an all-time high.

- With all of the problems in Europe, world... ALL TIME HIGH

- Obviously the best decision England made was to leave the EU

Cisco Earnings