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Richard's Remarks

 

I have already stated that in my opinion, the world is in a deleveraging and deflationary state, a situation that I have labeled as an ongoing depression.

 

A primary bear market began in October, 2007. This bear market carried into 2008 and 2009. At the lows of 2009, the market was severely oversold. At the same time a panic-stricken Fed stepped in with quantitative easing, thereby spurring the bear market (which was already about to rebound). Following the crash, the market was severely oversold. From this oversold condition and with the Fed's huge monetary infusions, the market headed steadily higher. Since then, the Fed has continued with its serial infusions of currency, while at the same time the Fed kept has short rates near zero (ZIRP).

 

Throughout the months since the 2009 low, The Fed continued to battle the global forces of deleveraging and deflation. In the meantime, the bear forces in the ... Log in or subscribe to continue reading.


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