Mad Men With Hammers, Part 1

We are now seeing the fetid fruits from 30-years of the Fed’s relentless coddling of Wall Street. Swings of 1,000 Dow points intra-day, day-after-day and sub-1% yields on nearly the entire Treasury curve bespeak of a financial market that is completely broken. Kaput! To be sure, there probably should be 1,000 Dow point moves, but […]
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