The Establishment defined

It’s Foggy Out There or is it the FED Cloud ?

This week feels like a strange week, maybe for a lack of a better descriptor, foggy.

  1. We do have the NH Primary today and the question keeps being asked by known Establishment figures, what is the Establishment?  It would seem simple to me, anyone who doesn’t like Trump or Sanders fits for me.
  2. The FED Chair, Janet Yellen, goes before Congress Wednesday and Thursday.  The establishment, see I am using the word already, hopes that she says that    she is going to put further rate hikes on hold.  For reasons that we have outlined  over the past couple of weeks, I do not expect her to put things on hold.  More  than likely she will say that the recent market volatility is what markets do and  then try to keep the language muddy.

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