Friday, June 17, 2016

The Federal Reserve Has Just Lost 
ALL Credibility?
"The Fed failed to raise rates… again .. It’s pretty incredible if you step back and think about it. Here were are, years into a supposed recovery, and the Fed’s actions tell us the economy cannot handle rates higher than 0.5% (the overnight benchmark rate fluctuates between 0.25% and 0.5%). Rates of 0.5% (and lower) and the word 'recovery' do not belong together. The Fed is currently maintaining rates at levels usually reserved for dealing with Crises, NOT recoveries. Heck, the Fed kept rates higher than current levels during the recession following the TECH BUST. Put another way, years into this 'recovery' the Fed views the economy as weaker than it was after the Tech Bubble burst in 2002 .. At this point, after years of ZIRP and $3.5 trillion in QE, shouldn’t we consider alternatives? Maybe we might want to let some other people try running the economy for a change? After all, if you spent $3.5 trillion and the best you can garner is a recovery that is weaker than the 2001 recession… maybe you’re not cut out for the job of 'fixing' the economy .. The Fed didn’t just fail to hike rates. It also lowered its rate hike forecast to just one rate hike this year (down from two) and possibly three rate hikes next year (down from four). Despite these dovish developments, stocks cratered. We may have reached the point at which the Fed has lost all credibility .. The global Central Banks have literally bet the financial system that their theories will work. They haven’t. All they’ve done is set the stage for an even worse crisis in which entire countries will go bankrupt."
- Graham Summers
LINK HERE to the essay


Anonymous said...

FDA too............
Tune in to this Friday's VICE on HBO at 11PM and visit to learn more.

Anonymous said...

Tear Down This Wall!
Saturday, June 18, 2016
___(Your Name Here)___, Tear Down This Wall!
It's a "now" moment for each of us. Yes, you. The stars are aligning and we must seize this moment.

We finally have some considerable focus on the huge protective wall between people with quickly fatal, untreatable diseases and experimental drugs. We need to punch some holes in that wall. Now. Today. We can do it. We must.

For a little over a year, a grassroots group of people fighting ALS became an informed activist group pressing the FDA, legislators, and drug developers. They are smart. They are full of energy. They are fearless and nimble. Many of them are dying. They experience the pain and understand the flaws of the status quo. They are and they are on the FDA"s radar.

A few months ago we saw some considerable activity from another small group, . They proposed three pieces of legislation to punch some holes in the big wall between people dying of ALS and investigational drugs. Their rally on Capitol Hill drew national attention on Thursday. We stood in visible solidarity with advocates representing other terminal, unmet-need diseases. Finally.

And last night, we saw a Vice feature, "Die Trying," on HBO that said it all, thanks to Angelina Fanous, a talented Vice writer/reporter with ALS. Follow her @notsovanilla on twitter. You will learn a lot. And watch the Vice piece.
Ep. 416 Debrief (4:53)