Connect with us

Business

Stock Market Cheers Bad Economic News

Stock Market Cheers Bad Economic News

 


The Dow Jones gained more than 1,500 points in two days this week, after several weeks of steady decline. Why, because the news is so bad that Wall Street insiders consider it good. Namely, the global economy is heading into recession so quickly that the Federal Reserve whose policies are causing the recession might just cave in a little earlier than expected.

Well, don’t bet the farm on that. As of this writing, the stock market is down again.

What is pathetic is not just the federal government’s perverse policies, but the groupthink. The Fed is infamous for peer pressure to comply. The president has complete control over the staff, and the other governors do not have their own staff. New members tend to acculturate as soon as they take their place.

More Robert Kuttner

Unfortunately, President Bidens’ crop of Fed appointees is no exception. All three Fed rate hikes were approved without opposition. Lael Brainard, elevated to vice president, occasionally dissented on regulatory issues in her previous incarnation as the only Democrat in an all-Republican Fed.

But in her new role, Brainard seems intent on proving she’s more Catholic than the pope, with a ultra hawkish speech on inflation and interest rates after another. Monetary policy will need to be tight for some time to have confidence that inflation is returning to target, she said in a Sept. 30 speech. For these reasons, we undertake to avoid withdrawing prematurely.

No dissent was heard from other Bidens appointees, Lisa Cook, Philip Jefferson or Michael Barr.

The global economy is now in a self-deepening cycle where other central banks are raising rates defensively. The more expensive dollar is particularly damaging for the countries of the South. This is on top of more expensive energy and food, which has nothing to do with excessive demand, the usual justification for rate hikes.

The press was filled with scathing ridicule from British Prime Minister Liz Truss, who managed to sink the pound with a half-backed program of supply-side tax cuts. Truss was forced to back down.

Some of this ridicule should be directed at the Fed, which is demonstrating that it has far more ability to harm the global economy than the pitiful British Prime Minister.

Sources

1/ https://Google.com/

2/ https://prospect.org/blogs-and-newsletters/tap/stock-market-cheers-bad-economic-news/

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]