The Fed Today, Yellen asks for Patience, How Ironic
The only people needing patience are those like me who are waiting for this FED fiasco to melt down. An instant 300 points up in the Dow on her comments doesn’t seem like a patient reaction.
Go back to my comments in 2008 and 2009, I was pushing for a stabilization of the meltdown effects including a base for manufacturing jobs in the auto industry, and infrastructure investment. To me QE I was enough, I thought anybody with half a brain would see the writing on the wall and deleverage, but no, cheap funny money was created and now we have something that is 10 times worse than what we saw in 2008.
The last time this made sense to me was maybe September 2010, that was after QE 1 and a time when the Global economy could have settled into a restructure process that was needed after the 1997-2000 and 2005-2008 bubble excesses . This would have required a Global effort led by our FED, it didn’t happen and a price will unfortunately be paid for this eventually. Patience.