What happened to the fear of net neutrality, Y2k or the idea of the Fed even changing its language to suggest that MAYBE just MAYBE they might taper bond purchases?
Since 2008 it was an unthinkable option for the Fed to hike 100bps in a single meeting. Such an egregious act of war upon the markets would be met with 10,000 Dow points down. It would mean the end of the world. But here we are CLAMORING for 100bps because “OMG INFLATION IS SOOOO SCARY” — but nothing has changed. Oil is less than $100 and gas prices have been at or around these levels since 2007. The fear mongering has abated and so the slave cattle are now agreeing with the prevailing wisdom — which is to HIKE RATES sky fucking high in order to SAVE the economy. That’s right, we are SAVING the economy by slowing it down.
Tomorrow the official GDP numbers come out and Barclay’s is looking for a contraction of 0.6%. They are now calling it a “technical recession” on Bloomberg — because you know — it’s not a REAL fucking recession — two consecutive quarters of GDP declines — because this one is being sponsored by Vlad Putin.
It’s very hard to separate market bias from the idiots who control policy. You see and hear these people and just want to sell it short. But then you realize — it’s all bullish and a casino for rich people to rig numbers in their favor.
We embark on the Fed decision inside the hour and it’s likely we will rise — because markets seem to only want higher prices after Fed meetings.If you enjoy the content at iBankCoin, please follow us on Twitter