John Rubino is amazed how easy it has become for the Fed to have it’s way with the markets. They just have to lift their pinky and the markets respond in spades. How did it get this way and how long will it stay? Once upon a time the markets’ primary purpose was price discovery and allocation of capital. No more, now they’re more a billboard for the government to manage expectations and to demonstrate to the sheeple that all is well, but is it?
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