Reality is finally settling in. Natural laws of supply and demand are back in action. Stocks are sliding, banks are finally slimming down, and oil’s getting crushed.
The market at large has proved its innate vulnerability despite the Fed’s best efforts to distort the real macroeconomic picture at play.
Economists are (finally) admitting that central bankers have run out of ammunition to sustain the illusion of the Fed as our knight in shining armor.
It’s incredible how many traditional fairytale parallels have been cited when referring to a very real financial experiment gone very wrong.
Ed Yardeni cited “The Wizard of Oz.” International Monetary Fund Managing Director Christine Lagarde went with both “Alice in Wonderland” and Harry Potter. Stephen King — the HSBC Holdings Plc chief economist, not the author — trolled the fantasy aisle.
- CHINA & RUSSIA HAVE BEEN DUMPING U.S. DOLLARS SINCE 2010: TAKES SEVERAL YEARS FOR IMPACT ~ ITS NOW 2014.