The Market Ticker
Commentary on The Capital Markets- Category [Federal Reserve]

It'll have as much impact as your alleged "stimulus" and "whatever it takes."

Sure, you can boost asset prices.  For a while.  

But Union Pacific, which reported "earnings" today, showed what's going on.  Carloads of rail traffic are an objective measurement and as I've pointed out, as is the Baltic Dry Index, show that things are not moving, and things are what make an economy strong.

Not two people cutting each other's hair in exchange for a screw (ok, that's only legal in certain counties in Nevada.)

If eight years -- literally -- of "lower rates" and "whatever it takes", including policy rates at zero, have done nothing more than jack up financial engineering and leverage (read: asset prices, P/Es, etc) while actual production of things continue to go in the toilet then all you have done is impoverish the common man who can no longer afford a house or to "invest" and try to outrun your intentional acts of currency depreciation.

In other words you're stealing from the common man so the fat-cat jackasses in New York and London don't have to face the reality: They made a bunch of bad bets and are bankrupt.

Put bluntly you're robbing the common man to "make good" those bad bets.

What does a just society do with robbers, especially armed robbers?

And don't pull this crap about said robbery not being armed, until and unless you can show me one government involved in this crap that doesn't have cops that carry weapons.

PS: Hi Yellen.  You need to be imprisoned too, along with Shalom.

PPS: The markets have woken up to the fact that this crap won't work.  I give the futures bounce that Draghi speechifying generated a half-life of a few hours -- maybe.

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