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Michael Michaud
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Michael Michaud is the founder of Invest2Success.com (http://www.invest2success.com/) and the Invest2Success Blog (http://invest2success.blogspot.com/). He has been investing and trading in the financial markets since 1989. He founded Invest2Success.com to empower individual institutional... More
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  • Is The USA Really Having A Economic Recovery? 0 comments
    Sep 19, 2013 10:01 PM

    Is the USA Really Having a Economic Recovery? by Market Authority

    We're not recovering.

    We never were.

    It's why the Fed refrained from tapering yesterday, opting to keep monthly buying at $85 billion. They now need to see "conclusive" evidence that the recovery can be sustained.

    It's become apparent our "brilliant" Fed is very afraid of something.

    This garbage that "we're recovering" has gotten quite old. Something has to give.

    This isn't sustainable at triple top resistance either.

    Dow Jones Industrial Average Chart

    We're at record highs because of the Fed.

    The rose-colored glasses can only be worn for so long.

    "The forecasts also highlight the complex economic environment that Fed Chairman Ben Bernanke confronts. Fed officials, who have been consistently disappointed by economic growth, nudged down their growth forecast for this year and next year, projecting growth between 2% and 2.3% in 2013 and between 2.9% and 3.1% in 2014. Yet Fed officials' view of unemployment hasn't changed much. They expect the jobless rate to keep falling to between 7.1% and 7.3% by the end of next year, which is little changed from their June projections," according to The Wall Street Journal.

    In short, the Fed - which has been wrong about everything - will continue to be wrong about everything. I'm sure this will end very well for us all.

    If you thought the subprime fiasco that sparked a sell-off to Dow 6,500 was bad, just wait until this fiasco unravels.

    The sad part of this - only 27% of US adults actually know what quantitative easing really is, according to Reuters.

    The Fed's $2.8 trillion "quantitative easing" program has, among other things, lifted stock prices to record highs, driven interest rates to record lows… Yet barely a quarter of Americans even know what it is.

    A poll leading up to the Fed's pivotal decision, expected Wednesday afternoon, found just 27 percent of U.S. adults could pick the correct definition of quantitative easing from among five possible answers.

    Twelve percent of respondents thought QE was a computer-assisted program that the Fed uses to manipulate the dollar. Another 11 percent thought it was part of the Dodd-Frank Wall Street reform legislation enacted following the crisis.

    Sad but true…

    I need a drink.

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