Can you believe that the big tickle for stocks on financial television today was whether or not the Fed would raise rates at the next meeting?
OMG these jokers are so infantile I could just throw up.
Supposedly the Fed 'shocked' the market by doing nothing last week and so now traders are jittery that the economy is so bad that it cannot take a 25 basis point rate increase.
US equities were selling off today. The Fed's Bullard, a lone dissenter and a hawk, was telling everyone who asked for the Fed to restrain themselves to 'shut up' from the IMF to Larry Summers.
Dennis Lockhart, also of the Fed, came out and suggested that traders ought not to worry because the Fed will be raising rates sometime this year and so stocks took back some of their losses.
Yes, I believe that the economy is weak, and could be heading into a recession. And yes, I think the Fed can raise 25 basis points because their 'QE' is a trickle down policy error subsidizing asset bubbles and not improving much for the real economy, so they can rates just to quiet down the insatiable crying babies of Wall Street.
The real problem the US faces is an individual balance sheet recession, and the Fed and the government are doing almost NOTHING, not one thing, to help the individual person get back up on their feet. They are too busy enabled new ways for their wealthy friends and donors to cheat the public and skin them with fees, hidden expenses, growing monopolies, and substandard healthcare plans. And this is killing aggregate demand.
But the moneyed interests are getting their way.. winning. They have destroyed the middle class and created a nation of renters. And the rents are going to be squeezed.
And the people are getting sick of it.
Have a pleasant evening.