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Time for the Fed to Stop
"In matters of style swim with the current, in matters of principle-stand like a rock"
-Thomas Jefferson
Someone famous once said "Invest in inflation. It's the only thing that is going up" and you know what- I could not agree more. In this world of fiat money one thing is guaranteed - your money will be worth less tomorrow than today. As you might have guessed from my previous posts I am not a great believer in politicians' abilities to guide/understand the economy in general, and definitely get extremely irritated when some of the most vocal and most popular of them try to give advice to the Fed. This advice usually says something like this:" I can't believe you have not reduced rates yet... What the hell is taking you so long-my constituents are suffering and you are doing nothing about it... etc." I think there should be a prize of some sort that is awarded annually to a politician that actually asks to increase rates for once- the only problem is - this prize could go unclaimed for years...
I've posted my opinion on the subject of Fed's rate cuts many times in the past and instead of reinventing the wheel will just repost some of my previous thoughts as I think they have not yet lost their relevance...
Get the rest of Vad's thoughts on the Fed's action in his most recent post here.
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