Legendary Short Seller Says Former Fed Chairman Alan Greenspan Is A Financial War Criminal
KingWorldNews.com
September 27, 2017
Today a legendary short seller said former Chairman of the Federal Reserve, Alan Greenspan, is “a financial war criminal.” He also discussed the major markets and why the Fed is going to restart QE.
By Bill Fleckenstein President Of Fleckenstein Capital
September 27 (King World News) – The stock market bolted higher out of the starting gate over hype about the proposed tax reform plan. There obviously hasn’t been much time to analyze this proposal and, at this stage, it doesn’t mean that much because Congress is so dysfunctional, who knows what (if anything) might actually get passed. Thus, it is rather difficult to handicap what the final result will be…
Let’s Just Rate and See
On its face, it would appear the proposed plan makes computing taxes somewhat easier (although I will believe that when I see it). However, it may also amount to a tax hike on individuals in order to pay for corporate tax reform. Again, I don’t want to make too much out of a trial balloon, but it is pretty hard for me to believe that the stock market is where it is simply because of this plan, even as so many have used tax reform as the battle cry to justify buying stocks. At the end of the day, the market is where it is because of QE, aided and abetted by ETFs and algos, all of which has brought us to an environment where nothing really matters.
The Rest…HERE
