Fed Statement: Not Dovish, Not Hawkish—-Just Gibberish

David Stockman   By David Stockman – Re-Blogged From http://davidstockmanscontracorner.com

Call it 529 words of gibberish and be done!

All of the FOMC’s platitudes about the economy “expanding at a solid pace”, labor market conditions which have “improved further”, household spending which is “rising moderately” and business fixed investment which is “expanding” are not simply untruthful nonsense; they are a smokescreen for the Fed’s actual intention. Namely, to keep the Wall Street gamblers in free money in the delusional hope that ever rising stock prices will generate a trickle down of “wealth effects” in the main street economy.

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What Price Oil?

cropped-bob-shapiro.jpg   By Bob Shapiro

I just read an analysis of the crude oil market which laid out some facts which sound reasonable to me, followed by a $200 per barrel forecast for the black stuff in a couple of years. I find that to be less than likely.

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ECB Head Calls for More Inflation in Europe

In the “Stupid is as Stupid does” category, the European Central Bank President, Mario Draghi, says that Inflation is too low in Europe. He says it’s critical that the ECB act quickly and decisively to raise Inflation.

Forest Gump

I would expect that he didn’t bother asking Europeans buying groceries, and all else they need from their local retail stores, if they agreed that prices should rise more quickly than they have been rising.

This would be funny, except that we Americans are suffering from the same kind of insanity coming out of our Central Bank, the Federal Reserve (FED).