The only question is, how long before FED raises rates? How far down do the markets have to go before FED figures it out? Think of it. There's no one in the world who agrees with me about raising the fed funds rate. No one. Apply contrary opinion. Voila. I can show validly why FED should raise fed funds rate, and everyone else can only and wrongly argue they should lower them. Think of it! Raise fed funds rate! Am I daft? One might say that that's easy enough to glibly say, but I wouldn't do that if I had the Chair. Oh yeah? Bang, done.
What would happen? First, the stock market would drop 1000 points in 1 minute as everyone GOT OUT. Good riddance to that vermin. Next, every pol would be calling telling how they will do this to me and that to me unless I stopped my insanity. I would have to leave the Fed building under armed guard. Then the bond market would jerk this way and that way threatening, "we'll throw a depression if you don't start giving us what we want". Then a long line of experts and university types would want to come to show me the error of my ways. However, when I got finished with them, they would put their tails between their legs and scamper off to their dens. After all these people and markets threatened and begged, "oh please, can't we have some more", they would realize I ain't budging, and I'd raise rates again, lots of rates, and lots more.
When the dust settled and the beggars had given up, people would see things getting better. Oil would be dropping rapidly, the dollar would be rising rapidly, nothing whatsoever would happen to the economy, except all the idiots, flim flam men, hot shot manipulators, con artists, and all the rest of the junk people who so dominate a poverty stricken society in the midst of the appearance of wealth, would suddenly disappear. They'd no longer be able to get something for nothing. Trust and integrity would be restored. When people can't trust money they can't trust anything, not in this materialist world. Raise rates and you get integrity put back in the money and back in the people. |
