The central bank madmen are raging.
The incredibly ballooning balance sheet that no one can match (in one chart).
The bloodletting will go on until the money dries up.
The middle classes – aka “the voters” – expressed themselves last week. They have been sorely used and they know it.
“Hey… you want a wealth effect? I’ll give you a wealth effect!”
But it performs miracles on corporate profits.
“Not the Fed’s job to rescue reckless investors from the errors of their ways.” Now they tell us!
On the day when QE ended: Taxpayer were put on hook for a direct subsidy to banks.
There are many losers when a currency gets smashed.
It all boils down to consumers in an economy that is so dependent on them.