Cynical Realpolitik 220612

The selloff late last week put an end to what could have been a three-week recovery.  Stocks started to collapsed ahead of the May inflation report, which was “higher than expected”.  Expectations are much like “policy”, both can change very abruptly.  I’m less concerned about inflation than most, because I believe that the current inflationContinue reading “Cynical Realpolitik 220612”

THANKFUL for the Federal Reserve

During this season of thanksgiving, I’d like to publicly acknowledge my gratitude for the Federal Reserve. I know the FED has its haters and detractors, but I’m not one of them.  Of all the government and quasi-government institutions, I hate the Federal Reserve the least.  In fact, my admiration for the FED is even greaterContinue reading “THANKFUL for the Federal Reserve”