The Market Is A Red Herring… Distracting Us From The Reality Of The Economy

Wednesday, February 25, 2015
By Paul Martin

by Thad Beversdorf

Janet Yellen once again repeats that the economy is “looking stronger” although still it has yet to manifest into actual strength. In fact, it is still so weak that the Fed cannot even suggest that rates will raise anytime over the next several FOMC meetings. In short, the economy is still very sick. The Pundits (Liesman) are suggesting Janet feels the economy is strong but that the “data just isn’t cooperating”. What does that even mean?? The market is a red herring of sorts keeping our attention away from the reality of the economy. And so, to give up the market strength would be synonymous to removing the one remaining support holding up that 100 storey building that is otherwise completely rotted. Only when the economy is able to withstand a market repricing will the Fed allow the market to reprice.

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