Michael L

Look Out Below

Anybody know what he said?

While Iran Threat Keeps Oil Elevated, U.S. Stocks and Dollar Slip

The world is a high tension place, and what is happening to the dollar?
Spiking sharply higher as uncertainty would have caused it to do in the past? No. It's slipping. Thanks, Ben, for continuing on the same course as the catatonic, sleep-walker who preceded you, Greenspan, and for keeping America on the fast track to third-world status.

Absurd Accounting Rules and $5 Trillion Off Bank Balance Sheets

Not to worry. The Fed will find a way to insure this trifling 5 trillion and thereby "save the economy". God forbid we should ever have a cleansing of the financial system if it means recession.

In the meantime, I will dust off the wheelbarrow so that I might carry some dollars to the grocer and get a nice loaf of bread to go with my glass of water.