When the Fed announced that rates will continue to be Zero, the stock market soared — for about an hour and then plunged. Today down another 200+points.
Why? Real simple — The Fed actually said that the world’s economy is so fragile that a meaningless rate increase of 0.25% was potentially a real problem. And I’ll give them credit for being right about this — had the Fed raised rates, the Dow probably would have been down 500 points instantaneously.
Someone sent me this picture a couple of days back — and if a picture is worth 1,000 words, this one is probably what weighted on the Fed.
This is downright depressing. In the last 7 years, food stamp use has soared, as has the federal debt, the amount of money printed, student loans (which are future losses) and health insurance costs. Obamacare reduces costs?? Really – don’t think so.