Fat guys in red suits aren’t needed; not when we have a Federal Reserve and a conflicted bond market. Which combined this week to press stocks and bonds around like seldom happens. Gold down, bonds up? Come on, man!
Next week, we shall see how it will work out since imbalances in the fundamentals don’t often hang around for long.
That said, we have papered-over economic collapse from the onset of the plandemic to what would be the modern analog of December 23, 1930 in our work. The shout-out to the elves of the Fed is well-deserved.
Sadly, we have to away Monday to see who gets the lumps of coal as the typical summer high passes.
First, a few headlines and some buckshot at the news scanner. To be followed by some thoughts on how to learn “Economics Backwards.”