Entering text into the input field will update the search result below

We Will All Bear Witness

Mark J. Grant profile picture
Mark J. Grant

At some point this afternoon the anointment will be made. President Trump will officially crown the next "Master of the Universe." I assert, that any person that is given the right to create money from the flick of his wrist, or a few monosyllables mumbled to a clerk, has achieved the "Crown of Creation." We will all bear witness, great power is about to be passed on, once again.

With the election of the American President comes pomp and ceremony and well-rehearsed dramas that have been sculpted over the decades. There is no such public regalia that will be put on display for the next Fed Chairman. "Best to leave the citizenry alone," seems to be the words found in the Fed's orchestrated playbook. Yet, behind closed doors, there will be bowing and scraping and the titans of Wall Street will, once again, present themselves for an audience.

The gods of the marketplace will be standing at attention. The dot plots, of old, will reek with a history that has passed. What was before, will not be again. The timeline, will, one more time, be broken. We are setting off on a new adventure now and the recognition of this event, and its significance, should be a point of focus, for us all.

Some volatility is unavoidable, and indeed is a necessary part of the process by which markets and the economy adjust to incoming information … I want to emphasize the importance of data over date … The path of [bond] purchases is in no way predetermined; we will monitor economic data and adjust our purchases as appropriate.

- Jerome Powell, June 2013

Today, our economy continues to recover from the effects of the global financial crisis, unevenly and at a frustratingly slow pace. The task for monetary policy will be to

This article was written by

Mark J. Grant profile picture
Mark J. Grant is the Chief Global Strategist at Colliers Securities, LLC. The highlights of a 48-year career in the financial services industry include positions as President of an investment bank, head of Capital Markets for four investment banks, and serving on the Board of Directors of four investment banks. He has been designated as a Bloomberg Prophet, one of only 15 globally. Mark is one of the longest serving guests on CNBC’s “Squawk Box”, is frequently interviewed on Fox Business and Bloomberg TV, and is regularly quoted in the Wall Street Journal, Barron’s, MarketWatch and other business publications. His commentary, “Out of the Box,” is subscribed to by over 5,000 money managers and financial institutions in more than 46 countries. He is also the author of a book titled “Out of the Box and onto Wall Street.” While Mark’s institutional clients include some of the largest money managers in the world, he also works with high-net worth individual investors. His unique investment strategy is especially useful for people who need yield and monthly cash flows. He employs carefully chosen closed-end funds and exchange traded funds and notes to produce monthly income for his clients, currently he is able to provide yields are 10%+, however current performance is no guarantee of future results. For additional information, email Mark at Markjgrant@Bloomberg.net.

Recommended For You

Comments (7)

EK1949 profile picture
"My fear is that no-one really knows how this ends."

How do you know there is something to fear if no one can tell you what it is?
EK1949 profile picture
Why do people think markets end? It's the darnedest thing and I can't figure out where it comes from. There's nothing in all the ups and downs that predicts a final something, or even a good explanation of what that thing might be.

"At some point it ends badly... and the lessons that each generation must learn first hand, having disdained reading about or hearing from their elders of the past excesses, will shape their lives going forward."

Each generation is as bad at learning as the previous one. We build and grow too little, not too much. No wonder each generation must unlearn the dumb things the previous generation taught. The end is nigh, don't build the future, it wastes dollars we'll need for the coffin we'll bury the economy in.
Should Tax Reform pass congress and become law, the new Fed Chair would be the most important person on the planet.

More US Debt would be created to finance another bailout for US Billionaires.

US Government Tax revenues would be "cut again" and drive the US deficit toward $40 Trillion Dollars by 2027 or sooner.

Putin's Puppet has created more chaos for the rest of us to have to deal with in the near future, as Medicare and Social Security funding are in jeopardy ....
My fear is that no-one really knows how this ends. Thank you as always, for your intelligent insight.
At some point it ends badly... and the lessons that each generation must learn first hand, having disdained reading about or hearing from their elders of the past excesses, will shape their lives going forward.

But of course that will not be 'the end' but rather a new beginning, and the world will continue, the markets recover, and new 'geniuses' who bought at the bottom will once again repeat the cycle.
"Then the Gods of the Market tumbled, and their smooth-tongued wizards withdrew
And the hearts of the meanest were humbled and began to believe it was true
That All is not Gold that Glitters, and Two and Two make Four —
And the Gods of the Copybook Headings limped up to explain it once more".

Rudyard Kipling
Mark, like a leading member of the congregation, pickup the script and preach. let's hear what you would do with the crown in hand. Who knows, you might have influence and it would nice to have a non-technocrat enlighten the pointy headed.
Disagree with this article? Submit your own. To report a factual error in this article, . Your feedback matters to us!
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.