This isn’t a random attack upon a Canadian asset manager, as some of you will assuredly accuse me of doing. This has nothing to do with the fact that his people burned down the White House, or was founded and constructed by traitors of the American Revolution. I promise you, this man is a moron based solely on his opinions alone.
In a quick take by Bloomberg, Dick Fogler, manager of $1 billion (allegedly), says our Federal Reserve should hike rates now…so that we could lower them later.
The fuck.
Learned men do not act out of fear. They make the best decisions that will meld into the present conditions most optimally. To preempt a recession by hiking rates now, “to give us ammo later”, is equal to shooting ourselves in the head now, based on the assumption that eventually someone in our decrepit housing tenement will do it later.
I do not intend to ever shoot myself in the head, good Sir. Mind your pees and cues, regarding American monetary policy.
Good day to you and God Bless America.
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Canadian Lurch
I am truly baffled by this line of thinking as well. It’s analogous to burning down your home to justify the fire department.
I thought that was Grandma Yellin’s rationale anyway – but to hear it from a goddamn Canadian….
It is called Boom Bust. How do the kids raise kids without the cycle? We are not fucking boomers. Who actually were not that bad til right now.
Unless I’ve misunderstood, I agree with ironbird’s point. That is, it is a manipulated boom-bust cycle. This, and ongoing debasement of the dollar is the financial management plan of the US government.
NymphONymph, I agree a bit of a tenuous night. What are the limits or reversals on Draghi moves? Uk vote can impede. What else.
I guess he is saying that because he is short. Just talking his book, like so many others.
He’s a Wharton man don’t you know.
Businesses should raise wages now so they can cut them later; governments should raise taxes now so they can cut them later; companies should issue more stock so they can do buybacks later! Yeah, like, I can see how his approach makes, like, total sense to teenaged girls, like.
Please give me a big payraise and promotion today and
down the road when you try and lower it ,I will find another job
at my new payscale and position.