From 2009 - 2021 the Fed pumped up the equity bubble. Anyone who “followed the Fed” and brrrt during that time had an easy time. Contrarians were crushed over and over again.
Those days are over, until the Fed restores the Greenspan Put (which will happen, because the Fed will not allow international capital to to suffer). Same as it ever was, until it’s not.
https://www.bloomberg.com/news/articles/2022-12-17/pension-wealth-funds-dump-100-billion-of-stocks-in-quarter-end-rebalancing?srnd=premium
The world’s biggest money managers are set to unload up to $100 billion of stocks in the final few weeks of the year, adding to a selloff that’s snowballed since Jerome Powell’s unequivocal message that policymakers will press on with aggressive tightening at the risk of job cuts and a recession.
Notwithstanding their losses this week, equities gained over the quarter, driving up their value relative to other asset classes and forcing managers with strict allocation mandates to sell them to meet targets. Bonds are the likely beneficiaries of sales by sovereign wealth, pension and balanced mutual funds looking to replenish their fixed-income holdings, according to JPMorgan Chase & Co. and StoneX Financial Inc.
Some have a longer time horizon and see value at these levels. I agree with your conclusions. The Fed is using the “laws” of the Phillips Curve as a crude sledgehammer to crush inflation. They see unemployment as the simplest method of achieving demand destruction. Recession does not worry them.
The Fed promised pain—and intends to deliver. Services inflation remains sticky. I see another leg down; capitulation isn’t here yet.
The arrest warrant gives his attorneys plenty of space to mount a defense. And If she is recanting (as some have reported), he may see the charges dropped.
As for his job, that’s a PR/political/marketing issue. It doesn’t look good for him. The fact he went to her bedroom after she acted as the initial aggressor was a mistake in judgment that may be fatal for his career at Texas.
Happy for BG and her family/friends
As the son of military officer who did not wear a uniform when working in hostile nations, I can sense some of the pain the Whelan family must feel when these prisoner swaps occur and Whelan is left behind.
With clandestine work, the family is part of the team. They know the risk. That doesn’t take away the grief, but it is part of the pride one has in serving a nation.
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Doesn’t look like a surge in Dem voters so far. Warnock needs metro Atlanta to have shown up and be counted. A lot of rain down this way today, which may have dampened turnout.
it shouldn’t be this close.
Services wages too hot for the Fed (even if below inflation rate).
The Fed is reliant on killing jobs to fight inflation.
Employers want resiliency in their workforce and willing to pay for a deep bench.
Quite a few of us expected this ruling. There are no special rules for individual criminal defendants (equal protection and due process). An exception for one would be an exception for all — and the judicial branch knows that would wreck the criminal justice system.
Judge Cannon needs an ethics investigation. Horrible misuse of her equitable powers.
Good decision by the Eleventh Circuit.