Wednesday, September 18, 2013
Bernanke dumps bottle of vodka into the punch bowl
The Federal Reserve on Wednesday stuck to its massive bond-buying strategy, citing softer U.S. growth in a move that stunned financial markets.
By a 9-to-1 vote, the Fed chose to keep buying $85 billion a month in debt and said it would wait for more evidence of economic progress.
And the stock market and bond prices took off, the dollar tanked, and gold soared. Good job Federal Reserve, you have made it impossible to get out of this bubble without another several months/years of rampant speculation which will ultimately lead to financial disaster. But why should Ben Bernanke care? He only has to survive the next few months. I almost feel sorry for Janet Yellen.