“No doubt that the PPT has gamed and modelled an event like this and was ready to dump money to control it. The Fed is largely responsible for this mess and they are still in the driver’s seat.”
Casino owners have long known that variable interval reinforcement will suck a gambler into continuing their play until they lose all their money. In other words, the more fluctuations that occur (alternating wins and losses with variable intervals) prior to the big collapse the more suckers will ride it to the bottom.
That’s why there is chance that our next president will be a casino owner who takes advantage of the poor suckers.
I see the PPT has been busy this morning.
People who make a nice living manipulating things, data, and the perceptions of other people will continue doing what they do. I mean, what else would all those Fed number crunchers and paper pushers do if they didn’t have jobs where they could print money, prop up stocks, spin economic weakness with “data dependent” verbiage, and generally keep the wealth effect game going? Its a comfy gig and they’re not going to give it up even if they have to work overtime now and then to protect their institution.