In a speech on Friday, Boston Federal Reserve Bank President Eric Rosengren wants Congress to change the laws so the Federal Reserve is legally allowed (legal cover) to buy any assets it wants to prevent asset prices from falling.
Rosengren Says Fed Should Consider a Wider Range of Assets https://finance.yahoo.com/news/roseng…
Anyone who is a longtime listener to the WS4MS podcast should not be surprised at all by the Boston Fed President’s comments. In fact, it is very common throughout history for governments, especially empires in peril, to start changing the rules frequently, when the government’s finances get in trouble towards the end of an empire.
The 3 Most Important Rules of Investing In This “New Normal”
1. Politicians and governments can and will change the rules anytime they want, perhaps on a daily basis (moving the goal posts, retroactive rules, moving targets)
2. Because of rule #1 people should not go “all in” on investing in any one asset class or investing in only one country or company. At least some real diversification is important to protect against known unknowns or unknown unknowns.
3. People should focus on creating as many possible income streams and inflation hedges as they can from owning different investments and businesses to protect themselves to survive and thrive whatever is coming in the future thanks to the myopic stupidity and rent seeking behavior of parasitical central planners, politicians, bankers, government bureaucrats, corporate executives, etc. This is becoming anti-fragile in a “stagflate and tax and lie” environment.
It’s Time to Really Fret, Says Manager Who Beat 98% of Peers https://finance.yahoo.com/news/time-r…
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