Considering that the 8/1 open market meeting issued a very disappointing statement about the prospects for easing, and the market went down about 2 % from the announcement to other next day, you would think that there could have been a more balanced release that stated how many members were waiting in the wings to be accommodative at the sign of the first easing. Let us hope that the sensibilities of any flexions were not discommoded by this decoy as much as the public.

Steve Ellison writes:

It seems most of the investing public was driven out by the 2000-2002 dot com crash, and the survivors were decimated in 2008. In this respect, the upside down man's pronouncements seem like piling on. I know he wants people to buy bonds instead of stocks, but he has already triumphed completely in this regard. How could anybody reviewing the past 12 years not conclude that "gentlemen prefer bonds"?


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