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Richard's Remarks

 

I listened very carefully to Chairman Bernanke's talk yesterday before the crowd of news men and women.

 

I thought Bernanke did well but was confused by the information given to him by his own Fed members. The future, out to 2015, was reported to be dull and in serious question, according to the Fed's members. The Fed's own economists did not appear optimistic about the US economy -- the stock market sold off on the Bernanke talk. It was obvious that the stock market wanted another round of QE3, rather than Operation Twist.

 

The Russell view -- The Fed and all central banks are fighting the implacable forces of global deflation. This is really the primary bear trend that I've been writing about. It's the result of a fundamental change in the world markets. Suddenly, within the space of a few years, Asia has entered the global economy. The world is now producing ... Log in or subscribe to continue reading.


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