Richard Russell – Central Banks Worried As Investors Around The World Frantically Bid Up Prices Of All Tangible Items To Unimaginable Levels
KingWorldNews.com
June 16, 2015
As people continue to digest breaking news out of Greece and around the world, the Godfather of newsletter writers, 90-year-old Richard Russell, warned that central banks are worried as investors around the world are frantically bidding up all tangible items.
Richard Russell: “Economically, the big picture is that the world has turned to correcting the inflation and leveraging that has taken place since the end of WWII. The politicians in power will not tolerate economic contraction; thus the pressure on the Fed to hold the corrective decline.
We Should Have Cleaned Out The Corruption – Instead We Have Fed Anguish
Personally, I would have preferred that the bear market that began in 2008 had continued to conclusion. This would have cleaned out the corruption and given us a clean slate. The following bull market might have given the world another 20 or 30 years of good times and improving business. But central banks, under pressure from the politicians, decided that they could halt the decline.
The Fed reasoned that the public would accumulate some of the new wealth and spend it as a way of continuing the good times. But to the Fed’s anguish, the public has chosen to save and cut down on its debt. Thus the Fed has been frustrated in its attempt to keep the good times rolling.
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