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Nasdaq futures are -45, which is practically up considering today’s -300 squall.
Watch the USD/CNY cross. Right now, nothing.
Here’s Trump making sure the Fed hikes again in order to maintain a semblance of independence.
“I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally.
“Actually, it’s a correction that we’ve been waiting for for a long time, but I really disagree with what the Fed is doing,” the President added.
I’ve always been against the Fed hikes, but they haven’t got in the way for two years — until now. There was never a reason to hike rates in terms of the economy — but that wasn’t why they were. The Fed was hiking rates in order to increase the returns of pension accounts nationally, those tethered to bonds, forced to abide by certain risk criteria. Zero interest rates was a curse and a pox upon pension managers. They need higher rates in order to keep their Ponzi schemes going, otherwise we were barreling towards perdition with GE being the poster child of corporate malfeasance.
In terms of inflation, the rich enjoy 15%+ inflation, YOY. Everyone else, nothing.
The NIKKEI is -3.3%, but the DAX is only indicating -0.9% now. If this holds up, I can assure you will be bounce in the morning and Le Fly would have won again, in a most admirable and respectable way.
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