World mkts tanking largely because the Fed has a sour outlook. Be careful with this one.
We were going through some old files the other day. Our report from Mar/30/1998, then observing the Fed’s attitude re developments in Asia, and a St commentary that, "The Fed is waiting around. They’re on hold until they have a better idea of what the impact of Asia is going to be." But key then and key now is that by the time these technocrats "have a better idea," the horse is out the barn. These people cannot sense change. They are incapable of doing so.
So the Fed implying we’ll be years slogging along doesn’t make it so. In fact, if we are right about America, and an enlightened electorate, they are dead wrong.
Robert Craven
We were going through some old files the other day. Our report from Mar/30/1998, then observing the Fed’s attitude re developments in Asia, and a St commentary that, "The Fed is waiting around. They’re on hold until they have a better idea of what the impact of Asia is going to be." But key then and key now is that by the time these technocrats "have a better idea," the horse is out the barn. These people cannot sense change. They are incapable of doing so.
So the Fed implying we’ll be years slogging along doesn’t make it so. In fact, if we are right about America, and an enlightened electorate, they are dead wrong.
Robert Craven
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