from USA Watchdog:
My top story is the economy, and I think the Fed and Congress just signaled that something is seriously wrong, and it’s going to get worse. First off, the Federal Reserve just came out and said that it was going to be “patient” when normalizing the monetary policy.
I know Wall Street is jubilant and the stock market spiked on the news, but I think this is really ominous, and it is nothing to be celebrated. To me, that means don’t expect the Fed to raise interest rates anytime soon because the economy is much worse than what they are telling you. Why else would Fed Head Janet Yellen come out and say the Fed was going to keep the easy money policies for a “considerable time.” If we did have a so called “recovery,” wouldn’t you be raising rates and pulling back on the juice? I think the Fed knows the economy will continue to sink, and if it lets off the money printing gasoline, the whole thing tanks. Economist John Williams says, “The great dollar calamity nears.” We are constantly told that the economy is in a so-called “recovery,” and yet, a large percentage of young people in their 20’s and 30’s are forced to live at home. Also, you don’t have a strong economy with nearly 93 million no longer counted in the work force. I think the Fed is scared and also knows the Christmas spending numbers are going to be the first big sign that the U.S. economy has a big problem.
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