A late cycle fiscal expansion, accelerating global monetary liquidity take back. A first order man-boy fantasy by a first order Idiocracy...
No society in human history was dumb enough to attempt fiscal expansion at the end of the cycle, when it would merely have self-destructing impact. But don't take my word for it...
"You've got late stage in the expansion where you've got tightening monetary policy. But you've got stimulative fiscal policy concurrent with that. That's not only rare, that's almost unheard of"
"That kind of one foot on the gas [and] one foot on the brake concurrently is going to make for a unique market"
Allow me to explain a unique market. For the benefit of Billy Gross and Jeffrey Gundlach. A unique market is one in which bond yields explode violently skywards, until such hour late on Friday as the Dow is down ~700 points in one day.
That's "unique".
"There is going to be an opportunity to buy the dip"
Indeed.
Fed member Esther George:
"The aim of the Fed’s purchases over the past decade was to boost asset prices...there could be a “symmetric reaction” once the assets roll off."
Fed member Esther George:
"The aim of the Fed’s purchases over the past decade was to boost asset prices...there could be a “symmetric reaction” once the assets roll off."
