<< Return to page 1 - Déjà vu All Over Again
In the late 1970s Paul Volcker turned the screws on markets
and inflation by raising interest rates until inflation was crushed.
This Fed is faced with different problems and
is lowering interest rates to save the banking/financial industries.
They know the inflation Kool Aid they’re
putting out is junk and may feel constrained to cut interest rates further,
fearing throwing gas on the fire while at the same time trashing the dollar
I don’t envy Bernanke but I’d
appreciate a more honest effort regarding true inflation data.
Thursday I met with ProShares, Friday Rydex and yesterday Van
All the meetings were informative
and we had an interesting exchange of ideas and suggestions.
Today I have a morning meeting with the US
representative of the FTSE of London followed by a very late afternoon TV
interview with the Canadian Business News Network which I understand will be
Therefore, don’t expect a posting
unless something dramatic happens in markets.
Have a pleasant day.
Disclaimer: The ETF Digest maintains positions in SLX, MOO, XLB, XLE and ILF.