I was on BNN Bloomberg’s MarketCall yesterday. Lots of stocks covered from a technical analysis view.
Here is the video from the show yesterday
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Does anyone under 52 years old, recall or is educated or knowlegeable of Paul Volker, in May 1981, Chair of the Federal Reserve. about the Funds borrowing rate having had to be raised to 20% ? Ot hovered for 3 years over 10%. It revisited again to 10% in 1989-1990… this is really about lack of discipline in balancing budgets. History repeats itself when politicians and public servants are either corrupt, ignorant or both.
Great point Mike–I have been suggesting in many of my blogs that the Fed is aware of the 1970’s even if most investors are not. As such, one must hope that they are going to hold rates high to keep the pressure on inflation for a few more months, allow the “pain cycle” (see my blog of that title) to complete itself, and run the classic expansion/contraction cycle as it should occur.