As an early Christmas present to the markets, Federal Reserve Chairman Jerome “Jay” Powell, hiked interest rates.
This is what (allegedly) sent the markets into a tailspin.
Now all the Wall Street gurus are screaming why Powell should be fired or even executed for taking away the punch bowl at the holiday party.
They try to compare our situation with the ECB (European Central Bank) who refuses to raise rates.
What they’re not saying is how the ECB is totally screwed and beyond the point of no return. They’re witnessing the slow death of the EURO.
Unfortunately, no politician ever admits they’re wrong so the ECB will continue to ride that donkey to the end.
Contrary to what Wall Streets presstitutes would have you believe, the rate hikes by the Fed have NOTHING to do with economic growth, inflation, or trying to stop a speculative bubble in stocks.
The Fed must deal with reality.
They need to NORMALIZE interest rates.
Lowering rates makes it cheaper ONLY for borrowers. It destroys the idea of saving for your retirement.
Let’s get personal…How much interest is your bank paying you?
Meanwhile, low interest rates are the main reason pension funds are going belly-up (Like fish swimming in lakes around Flint, Michigan).
Powell is not the boogey-man here.
He’s simply trying to undo the damage caused by the previous three Fed Chairmen (Greenspan “The Maestro”, Bernanke “The Bernank”, and Yellen “Dr. Evil” of the Austin Powers movies).
Those three stooges will go down in history as the architects of the mass destruction of our monetary system.
Here’s the unspoken truth.
The Fed must raise rates because when the next recession comes, the only tool they’ll have is to lower them.
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