Submitted by David Stockman via Contra Corner blog,
That Hillary Clinton has - unaccountably - stood by her man for 40 years is her particular foible. But now she wants 320 million Americans to stand by him, too, by electing her President so she can make Bill the nation’s economic czar:
Another roller-coaster day... "you're a crook, and a cheat, and a swindler..."
Today's melt-ups (pre-FOMC Minutes) were all thanks to broken markets
But after FOMC, things went south in everything (except the Dollar)...
Over seven years since we first said it, and nearly eight years since the Fed unleashed ZIRP, Bill Gross seems to finally find a trace of logic in what the Fed is doing.
Gross: So the Fed sort of gets it. Low rates destroy business models and sap economic potential.
— Janus Capital (@JanusCapital) May 18, 2016
From Bloomberg News to George Soros to the Houston Chronicle, suddenly gold and the gold standard is hot in the news. Have the elites finally begun to understand real money…or is something else at play?
Today's steep selloff was launched by the latest jawboning by Lockhart and Williams who, now that the S&P 500 is back comfortably above 2000, once again hinted that a June rate hike is back on the table. Incidentally, the dynamic of the Fed responding to the market, and the market responding to the Fed, has been the only one worth paying attention to in recent months.
Confused? Don't be. Here is an explanation from none other than Bank of America.