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John P. Hussman
The greatest risk of a Fed “policy error” is way, way behind us, and the Fed already made it. The result was a carnival of yield seeking speculation and accompanying low-grade debt issuance far broader than the mortgage bubble. Nothing was learned, so we’ll learn it again.
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Reed 21 Nov 18
Replying to @hussmanjp
I am thankful for your posts. Have a wonderful holiday.
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The CNBC Drinking Game 21 Nov 18
Replying to @hussmanjp
This is soooooo important. The mistake has already been made. It happened years ago. There was never an exit strategy. Now we have a date with destiny. The only question left to ask is, now that the hole is 10x bigger, will the Fed finally learn?!
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Gubb 21 Nov 18
Replying to @hussmanjp
The Fed endorses a martingale betting policy for economics: keep doubling down until you win.. lol
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Lawrence Lepard 21 Nov 18
Replying to @hussmanjp
“so we’ll learn it again” or not. This time I think we’ll learn why fiat always fails.
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Dom Flanagan 21 Nov 18
Not sure who the ‘we’ are. Most people have zero control of the financial world. But the financial world is an insatiably greedy one and learning is not high on its agenda 🤷‍♂️
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Sam Thomas 21 Nov 18
It is more likely that any lesson learned is likely to be the wrong one. The dislocations and economic hardship visited on the American people may be blamed on “capitalism” and not on the Fed and the machinations of the financial elites. Socialism, centralization the result?
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david 22 Nov 18
That is very insightful. Unfortunately more than likely true
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Turonni 21 Nov 18
Replying to @hussmanjp
This unfortunately is probably the way it will go
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Joseph Karl, CFA 21 Nov 18
Replying to @hussmanjp
I agree that we’re going to experience a situation we haven’t seen before. Where the Fed finds it difficult to return to normal, where yields move higher, spreads widen, and equities correct frequently. Doesn’t mean equities can’t outperform fixed income in the coming yrs.
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Tully Guy 22 Nov 18
Replying to @hussmanjp
At what point do we start to see distress in the high yield market?
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