by Gary Christenson
Breaking news: The Wall Street casino created another all-time high for the Dow during the week ending February 14. Then it fell 35% in March.
The “pickle” description is explained below. Stay tuned.
The Federal Reserve is monetizing bonds—directly funding the federal deficit because congress and the administration spend more than their revenues. The coming recession will increase the shortfall, expand debt and force more monetization. Stagflation anyone?
Corporations, individuals and governments can ill afford higher interest rates. Expect the Fed to monetize at low interest rates to fund government expenditures. QE4ever is happening because it must.