Creative behavioral thinker working to expand the borders of the thought box.
Understanding Chaos
Before 1971 everything was priced in gold with the dollar as a substitute for convenience, but after Nixon permanently removing the implied ‘L’ on the back of every dollar printed, the strongest currency in the world was freely floating. This created havoc. Oil producing economies got crushed. The dollar (unofficially) needed a tether. It found one in the oil crisis of the 1970’s and the ensuing petrodollar system. Since then everything has been prices in energy (mainly but deminishingly oil)...
Understanding Chaos
Before 1971 everything was priced in gold with the dollar as a substitute for convenience, but after Nixon permanently removing the implied ‘L’ on the back of every dollar printed, the strongest currency in the world was freely floating. This created havoc. Oil producing economies got crushed. The dollar (unofficially) needed a tether. It found one in the oil crisis of the 1970’s and the ensuing petrodollar system. Since then everything has been prices in energy (mainly but deminishingly oil)...
Hubris maybe, Humility probably not...
With the S&P playing vertical ping pong, and the fed acquiescing that the economy is back on a two sided cliff, they are saying that the down side risk is back on the table and relatively equal to the dangers of inflation right now. I grew up with a lawyer mother that didn't mind using lawyer speak when she was wrong. That is about as good of a pivot that you will see from a lawyer in lawyer mode, eg. when they have been wrong about something. That doesn't mean that the fed was wron...
Hubris maybe, Humility probably not...
With the S&P playing vertical ping pong, and the fed acquiescing that the economy is back on a two sided cliff, they are saying that the down side risk is back on the table and relatively equal to the dangers of inflation right now. I grew up with a lawyer mother that didn't mind using lawyer speak when she was wrong. That is about as good of a pivot that you will see from a lawyer in lawyer mode, eg. when they have been wrong about something. That doesn't mean that the fed was wron...
