I certainly believe that the $75 to $85 Billion dollars a month the Fed has been printing up for the last 6 years to buy treasury notes and Mortgage Backed Securities has been like crack to the NYSE. It is going to be interesting to see what happens when they have to go cold turkey.
Well Yellen announced last night that is exactly what she is doing NOW.
“I certainly believe that the $75 to $85 Billion dollars a month the Fed has been printing up for the last 6 years to buy treasury notes and Mortgage Backed Securities has been like crack to the NYSE. It is going to be interesting to see what happens when they have to go cold turkey.”
Cold Turkey! Are you predicting a post Thanksgiving demise?
I totally agree with your comment. I’m amazed with the manipulation that has occurred ever since Clinton changed the computation of the Cost of Living Index in 1992 and played all the games with gold futures and the currency stabilization fund.
I did not foresee the ability to keep the balloon inflated by fooling all of the people all of the time. If the senior citizens ever found out that their Social Security benefits would be double what they are today if Slick Willie had not cheated them by changing the benefit increase computation, they would be furious.