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Keep the Good Times Rolling

By Richard Russell

 

Economically, the big picture is that the world has turned to correcting the inflation and leveraging that has taken place since the end of WWII. The politicians in power will not tolerate economic contraction; thus the pressure on the Fed to hold the corrective decline.

 

Personally, I would have preferred that the bear market that began in 2008 had continued to conclusion. This would have cleaned out the corruption and given us a clean slate. The following bull market might have given the world another 20 or 30 years of good times and improving business. But central banks, under pressure from the politicians, decided that they could halt the decline.

 

The Fed reasoned that the public would accumulate some of the new wealth and spend it as a way of continuing the good times. But to the Fed's anguish, the public has chosen to save and cut down on its debt. Thus the Fed has ... Log in or subscribe to continue reading.


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