As we noted, we got it half wrong. Since “It’s the economy, stupid,” we had forecast that President Joe Biden would pressure the Federal Reserve not to raise interest rates 75 basis points last week to help boost the equity markets and voter sentiment prior the mid-term elections.
I have never known the Federal Reserve to make a good decision. Indeed, disastrous decisions are the Fed’s hallmark. There are many such disasters. Among them the Great Depression, the decade long consequence of the Federal Reserve Board’s failure to prevent the shrinkage of the U.S. money supply.
Welcome to the global freak show. What a sick, deadly joke. Ben Bernanke, the clown boy who played Fed Head prior to, during and following the “Panic of ’08” (the economic collapse forecast by Gerald Celente who took out the domain name in November 2007) was awarded the Nobel Prize in Economics last week.