jessescrossroadscafe.blogspot.com / 15 MARCH 2017
The Fed did what was entirely expected today, and did it with a pedestrian view towards the future increases. Slow and steady.
And so the markets were ‘surprised’, the dollar dumped hard, stocks rallied, and gold and silver got some legs higher.
Today was more a ‘technical event’ than anything else. In other words, it had all the looks of a setup designed to skin the buy side.
This is what the financiers do when the real economy is lagging badly, and they have little incentive to make productive, long term commercial and industrial loans.
Their preferred methods of making fat profits are centered on collecting more consumer fees and finagling financial assets up and down in a series of bubbles.
Until the banking system is reformed, there will be no sustainable recovery.
We are still in the first one hundred days of Trump’s presidency, so I am trying to restrain making any strong forecasts based on his performance. But it does seem like an administration with a split personality, saying one thing and setting up to do others. And if I had any hopes for the outcome, it is fading rapidly.
If and when failure comes, the blame game and paranoia is going to get almost unbelievable.
Speaking of inept leadership, in a recent poll the Democratic establishment (party leaders) were rated LOWER than Trump, Pence, and the mainstream media. They were roughly on par with the GOP.