Larry Levins (Trading Advantage) comments this morning so much echo my thoughts, I thought , why not just post them here.
Larry’s Morning Commentary
|The Chair of the FOMC was on TV again today explaining the FEDs rigging of the financial markets once again. Like all of the other times, she lied well enough to keep all of the jackals in CONgess happy.
SO what exactly did she day? Well, let’s read a few of the headlines from the speech to the aforementioned ignoramuses in to see what she said. (Why do I spell CONgress this way? Because 90% of the losers in Congress are playing a CON game…against the rest of us).
But what about RIGHT NOW??? No worries mate…
So if the outlook worsens, NEGATIVE rates will fix what ails us? ARE YOU SERIOUS?? So…ZERO right now isn’t good enough I guess, eh?
My problem with this line of thinking is two-fold: Negative interest rate will not flow to the consumer, and negative interest rates will KILL (literally) the elderly in this country. With negative interest rates, the elderly will starve to death as their savings dwindle to zero in favor of the bankster class. Moreover, saving for the future by anyone will cease to exist.
So let’s get ready for this negative interest rates by asking the bankster class a question or two; When the FED makes iRates less than zero – will my loan rate be negative as well? Said another way: Will you PAY ME to take out a loan? (ya, didn’t think so) How many elderly food & clothing collection locations will you open? How often will you be hosting free hot lunch/dinner services for the elderly?
So Janet Yellen…you banking scum have been WRONG about everything…E V E R Y T H I N G…so how about this: Shut your collective mouths and let the market work us out of this!
The negative interest rate BS won’t help a bit.