…not to mention a few thousand points on the Dow??
(disclaimer- I didn’t create the image on the right, so whoever actually did is free to take the credit. Everyone on the Internet already knows that I didn’t create the image on the left.)
With all the many topics that get debated these days- some of which are so trivial- it amazes me that one of the most important issues of our time goes untouched- Why do we allow one single person to control interest rates for the entire U.S. financial system? (Woodrow Wilson could not be reached for comment, on account of being dead for 94 years.)
Anyway, what the so-called “permabears” have been warning about for years, even decades, seems to finally be at hand. It’s still early, but that’s kind of the point- what happens when the wheels REALLY fall off this time? The Fed managed to put them back on twice already in this still-young century. Can they do it again, or has luck run out (FINALLY) for those who have put faith in this financial system’s ability to bounce back, from one Fed-induced crisis after another? As of now, current Fed chairman Jerome Powell doesn’t even seem interested in saving the system, but he likely doesn’t realize what danger it’s in, or just how fragile his predecessors- specifically Alan Greenspan, Ben Bernanke, and Janet Yellen- have set it up for him.