from King World News
With stocks tumbling and bonds rallying, despite volatility expect higher gold, silver and and inflation, plus no sense of urgency and stimulus is failing.
No Sense Of Urgency
September 17 (King World News) – Peter Boockvar: Two more things post Powell presser. The Fed Chair said that three years of no rates hikes in their estimates, assuming all else equal, is essentially forward guidance and he expressed his view that this is a “powerful” stimulus. I’ll express again my belief that it is actually the exact opposite. The whole point of stimulus is to stimulate economic behavior to happen today instead of waiting until tomorrow. Telling us that rates will stay low seemingly forever creates NO sense of urgency to act now. Thus, it is an economic depressant instead. Just look at the experiments of the BoJ, ECB and the US under Bernanke and Yellen and the anemic growth rates seen under the same monetary thesis.