13 Black swans swirling above the US economy
David Haggith
TheGreatRecession.info
Mar. 3, 2016
The black swans are circling like vultures now. Dark economic events seem to be flying in out of nowhere for those who have vision to see them. Even dovish New York Fed President William Dudley, who cannot tell the difference between money and hot air, sees a lot of black in the skies now and says that he is less confident about the economy than he was when he and his Feddish partners voted to raise interest rates last December:
Dudley, a close ally of Fed Chair Janet Yellen and a permanent voter on U.S. monetary policy, suggested that the sharp global economic slowdown, stock-market sell-off and oil price slide since the beginning of the year may force the Fed to tighten monetary policy even more slowly…. With turbulence in global financial markets reflecting mixed economic signals, the risks appear to have increased. (NewsMax)
Yes, Dudley did wrong with perfect timing and voted to raise interest rates into a crashing economy. For some reason, he didn’t see the global slowdown coming, never mind that it had already begun last fall; but he sure sees it now. He could have read all about it right here for months before he took part in an ill-fated decision. Now he’s losing confidence. If he’s not confident in the recovery and he was one of the architects, why should you be?
US stock market cheerleader, Jim Cramer, is counting black swans, too
The Rest…HERE
