SP 500 and NDX Futures Daily Charts – There Goes The Recovery Again, Receding Into the Future

Jon Blogosphere, Economy, Fiscal Policies, Market Commentary

‘Victorians, Victorians, who never learned to weep.
Who sowed the bitter harvest that your children go to reap.”
F. Scott Fitzgerald, This Side of Paradise
Ah, the vagaries of empire, and the New American Century. O brave new world, that has such wieners in it.
The Fed had to ask for ‘a mulligan’ on its forecasts from just a few months ago, and reflected that in their FOMC statement today.
They reduced the forecasts for growth and inflation for this year, and suggested they would not be raising rates quite so confidently.
And for all this they seemed to blame ‘global developments.’ As if.
Anyone with open eyes and an intermediate education in macroeconomics knows that the Fed is raising rates not for any benefits to the real economy, but to provide themselves some policy room to cut rates without going negative when their latest financial asset bubbles begin to collapse.

This post was published at Jesses Crossroads Cafe on 16 MARCH 2016.