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If Not-QE Is QE, then is Not-a-Blowoff-Top a Blowoff Top?If Not-QE Is QE, then is Not-a-Blowoff-Top a Blowoff Top?By Charles Hugh Smith OfTwoMinds.com November 19, 2019 When is “Not-QE” QE? When Federal Reserve Chairperson Jerome Powell declares QE is not QE. We can constructively recall the story that Abraham Lincoln famously recounted in 1862: ‘If I should call a sheep’s tail a leg, how many legs would it have?’ ‘Five.’ ‘No, only four; for my calling the tail a leg would not make it so.’ Calling QE not-QE doesn’t make it different than QE, but it does communicate the Fed’s panicky desire to mask its stupendous injection of financial cocaine into the financial system. The Fed’s level of panic is noteworthy, as is the absurd transparency of its laughable attempt to conceal its panic In the same fashion, the financial media is loudly declaring the current blowoff top in stocks is not a blowoff top. The delicious irony here is these denials are reliable markers of blowoff tops: the louder the denials, the greater the odds that this is in fact the blowoff top that many pundits have been expecting for some time, but always in the future. READ MORE AT THE LINK |
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Msg # | Subject | Author | Recs | Date Posted |
211148 | Re: If Not-QE Is QE, then is Not-a-Blowoff-Top a Blowoff Top? | eagle76 | 2 | 11/19/2019 6:45:13 AM |
211149 | Re: If Not-QE Is QE, then is Not-a-Blowoff-Top a Blowoff Top? | jblogos | 9 | 11/19/2019 8:45:54 AM |