So, everyone knows that the economies around the world are slowing. Are we currently in a recession? I say yes, this second quarter will be the official start, but you won’t know it officially for six or more months.

Yet, through it all, the Fed Heads and the ECB Members talk about pending Monetary Accommodation if necessary. What does that mean? That the FED will by more bonds, perhaps Mortgage paper.

HOW DOES THAT HELP THE ECONOMY? Does it make housing more attractive. Not a chance.

It helps only the holders of the shitty mortgage paper. And who might that be? Why the fucked up, LIBOR-lying, cheating, fraudulent Banks, of course. Plus it makes sure the Government gets the month to month funding it needs to function.

And that Monetary accommodation will NEVER leak into the real economy. It cannot because it would create real dollar debasement and runaway inflation, a la the Wiemar Republic, and that can never be allowed to happen. And the FED can do this whenever it wants and for whatever amount it sees fit.

So the markets continue to muddle through without much movement outside the trading range. It’s going to be a long summer.