Reuters Writes: Fed’s Evans: Optimistic 2014 will be the year economy takes off
CORALVILLE, Iowa, Jan 15 (Reuters) – Chicago Federal Reserve President Charles Evans on Wednesday said he’s optimistic that 2014 will finally be the year the economy “takes off,” adding that monetary policy must remain accommodative for it to do so.
Wait a second. The economy hasn’t “Taken Off” yet? I am confused. If you listen to the financial media “propaganda machine”, most investment advisors and money managers, even our own president, the economy is doing great. The stock market is up over 100% in the last 5 years and everyone is getting rich.
Of course, such statements are viewed as fallacy on the main street. For most people, things haven’t improved. If anything, they have gotten a lot worse. The reason you are seeing “perceived” improvements has nothing to do with the real economic growth and everything to do with speculation and corruption.
Yes, corruption. If you want someone to blame, there is only one place you need to point your finger. At the US Government and the FED. They have pumped our economy full of hot air in the form of credit and speculation.
That is not without cost. Eventually, our economy and our capital markets will have to readjust themselves. When they do, there will be hell to pay. As my earlier posts indicate, the bear market is about to start and when it does, we shall once again see who is swimming naked.
At least for me, only one mystery remains. Are the FED officials (as above) good liars or are they just plain stupid. Judging on what they did to the economy thus far, I am leaning towards the later.
Did you enjoy this article? If so, please share our blog with your friends as we try to get traction. Gratitude!!!
FED Economists…Stupid, Liars or Stupid Liars?