Forbes: “Stocks sold off hard on Friday after the Fed’s Rosengren, who’s been dovish, changed his stance and made the case for a rate hike at the September meeting.
It’s not just the Fed that spooked markets but nearly every other major central bank in the world has disappointed investors since the Fed’s Jackson Hole symposium.
On Thursday, the European Central Bank (ECB) held rates steady and did not extend or increase QE. The Bank of Japan (BOJ) didn’t announce more “easy money” and that disappointed the market. The Bank of Canada (BOC) held rates steady and we can go on but we trust our point is made. Remember, central banks are still printing nearly $200 billion dollars every month to juice markets. Eventually, this big experiment will not end well.”
Opinion: Notice the last two paragraphs: Fed, ECB, BOJ and BOC are central bankers. The markets no longer work on fundamentals, they are controlled by bankers and have been for almost a decade.
We have been warning about Keynesian central bankers for years. The stimulus packages they keep trying are experimental. Translation: They have no idea what they are doing and so far the only thing they’ve accomplished is to create ultra wealth for the ultra wealthy.
“Do not harm the oil and wine” Rev.6:6. In ancient times, only the rich could afford oil and wine. John’s prophecy is that when the big financial collapse comes, the rich will be the last to feel it. And that is coming true right before our eyes.
The economy has been in a slump since 2007, except for the very wealthy.
The ultra-rich do not earn W-2 income, but they do earn dividends and capital gains that are taxed at much lower rates. Obama and Hillary’s mantra that they will tax the rich to solve economic problems is a lie. The rich, according to prophecy, will keep getting richer.
The middle class and poor will keep getting poorer. That is the plan.
The reason the central bankers want to raise interest rates is because if/when a recession hits, they will need to lower rates to stimulate the economy.
None of it will work.
When the rapture occurs, the economic shock will be enough to collapse the global economy. Until then strap yourselves in – it will get bumpy.