It’s been one of those weeks in financial markets. After months and months of genial drifts upwards, global stock and bonds markets angrily erupted over the past few days, with bonds plunging of fears that the US economy – held in check by a stern Federal Reserve hellbent on pushing inflation back to 2% - was on the verge of a recession and a new wave of joblessness.
I am continually amazed at the confidence people have for the Fed to be able to control the economy. The Fed is run by idiots who created the economic problems and then pretends it can fix them. Show me anyone who actually believes anything the Fed says and I'll show you a fool.
I am continually amazed at the confidence people have for the Fed to be able to control the economy. The Fed is run by idiots who created the economic problems and then pretends it can fix them. Show me anyone who actually believes anything the Fed says and I'll show you a fool.