Imagine ... Its Not Easy To Do
Chris Belchamber
Managing Partner at CB Investment Management, Registered Investment Advisor, Amazon Bestselling Author of "Invest Like The Best", IRMAA Certified Planner, Managing Partner at CCB Tax Pros, Comprehensive Wealth Management
John Hussman does a great job of explaining the astonishing series of policy errors that have led to the most extreme and unstable economic and market conditions in history. Two decades ago it might have seemed impossible that policy would have travelled down the road it has. Even now it is difficult enough to imagine, even though much of it has already happened!
Rather than admit their errors and address the fragility of the current predicament, central banks continue to press on, even as their narrative becomes ever more absurd and erratic.
The Federal Reserve is now simply living in fear of blowing up the asset bubble they themselves created. The Federal Reserve is just left with verbal contortions and inconsistent rationalizations. This week's testimonies from Fed chair Janet Yellen demonstrated once again that this is where we are.
The video below points out that we are clearly all dreaming if this is an acceptable risk management process for global economic policy.
And is Janet Yellen now even unable to admit the truth about her own labor market indicator?