by David Kranzler
Investment Research Dynamics
“Pressures are already building on the financial stability front that will make the next economic downturn messier than anticipated.” – Bill Dudley, former President of the NY Fed
I get irritated when I see mainstream media and alternative mainstream media parroting the propaganda used to cover up the truth. This morning Zerohedge echo’d the “corporate tax payments liquidity squeeze” narrative first used back in September to justify the re-start of the repo QE program. I would have thought that idiotic excuse would have been proved wrong after this: