Tuesday, October 04, 2016

The "Blind" FED
Is Going To Trigger Another Brutal Recession
"Federal Reserve head Janet Yellen is keeping alive the tradition of her predecessors, Alan Greenspan and Ben Bernanke, by showing she is equally as blind-sighted to the bubbles central banks are blowing in the bond and equity markets .. Can it really be the case that the woman who holds a dictatorship on the cost of money, which is the most important price signal in an economy, is unaware that the stock market is at a level that is virtually the most overvalued in history? The median price-to-earnings, price-to-sales and total-market-cap-to-GDP ratios all show that the equity bubble is about as far detached from economic reality than at any other time in history .. Our perpetually bubble-blind Fed will get that opportunity to purchase a humongous amount of securities in order to reflate the bubble once again — which the Fed still won't admit its culpability in, let alone acknowledge."
- Michael Pento
LINK HERE to the essay

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