Still bullish after all these years
There is a fight on at the Fed, with the non-financial-center governors wanting to fight inflation and the New York and San Fran guys wanting to lower rates. I think the Fed is going to try to con the markets by holding rates steady (or maybe down 50 bps from here) but then working with the Treasury to put lots of cash into banks. Maybe they will lower fractional banking reserve requirements. Whatever it is, the government HAS to do something, otherwise the banking system WILL freeze up. Whatever the government does, they need to pretend that (a) it does not favor one group over another [yeah right!]; and (b) it is not inflationary and does not weaken the U.S. dollar [yeah right!].
The necessity of action by the Fed is what keeps me bullish on oil and gold and bearish on the dollar.
The necessity of action by the Fed is what keeps me bullish on oil and gold and bearish on the dollar.
posted by Charlie at
3:46 PM
2 Comments:
Af corze stockmarket will go up,
...Because of inflation... :)
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