I've said it before and I'll say it again: The Fed is not going to taper of its own accord. It will not taper on a boat, nor will it taper with a goat (apologies to Dr. Seuss). The FOMC meeting notes from July hint at a taper sometime between now and 2014, or whenever, depending on how much improvement they see in the macro numbers. Pfffffffttttt! That's me showing what I think of such baloney.
Every hint of a taper makes the US stock market sink. Consumers are still losing income and can't power a recovery through spending. Read what I wrote back in June about the BIS's finding that central bank monetary stimulus in the world's largest economies is the only thing moving stocks, bonds, and housing higher.
Bubbles are fun to ride on the way up. Timing the popping is impossible. I've avoided this mother of all bubbles and many of my peers in town have not.
Every hint of a taper makes the US stock market sink. Consumers are still losing income and can't power a recovery through spending. Read what I wrote back in June about the BIS's finding that central bank monetary stimulus in the world's largest economies is the only thing moving stocks, bonds, and housing higher.
Bubbles are fun to ride on the way up. Timing the popping is impossible. I've avoided this mother of all bubbles and many of my peers in town have not.
