Business

Now what?

Terrible news is great news again? Or is this front-running a panic-dove Yellen?

But for now FX and bonds ain't buying it...

Charts: Bloomberg

Submitted by Ron Paul via The Ron Paul Institute for Peace & Prosperity,

When previewing today's Janet Yellen speech, we first focus on BofA's chief economist Ethan Harris who looks not so much at today's event as at recent appearances by Yellen and various Fed governors and president, and is clearly getting more disenchanted by the Fed's ongoing flip-flopping, because as he says "it is fair to say that many clients are a bit confused and frustrated with Fed communication."He continues:

Economy... or Market?

That word "stimulate" - we don't think it means what you think it does...

But Lockhart didn't stop there:

• *LOCKHART: BUSINESS INVESTMENTS BEING IMPACTED BY UNCERTAINTY (right, Fed uncertainty!)
• *LOCKHART: A BREXIT LEAVE VOTE COULD CAUSE SPILLOVERS TO U.S. (which is the opposite of what they were saying a few months back)

Pure credibility crushing perfection.

Submitted by Charles Hugh-Smith of OfTwoMinds blog,

This is the market we have now: dominated by delusional, irrational central planners with unlimited powers to create money out of thin air to fund their manipulations.