The FOMC bombshell wasn’t a complete surprise yesterday. I did mention in the morning that the Fed’s capability or courage to tighten policy was mainly theoretical, and it’s still mainly theoretical this morning. Of course the Fed have to walk a fine line between blowing up an asset bubble, and depressing the economy by removing the highly addictive stimulants that may be all that are maintaining the appearance of continuing economic vigor. The US is fortunate to have such a dedicated and highly qualified team operating the printing presses day and night, 365 days per year, and seemingly prepared to do so for the rest of time, or until the value of the US Dollar falls to zero, whichever comes sooner: (more…)
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
