- The #1 overwhelming reason I personally became so incredibly bearish in 2015, was the belief that the FED was not the “knight in shining armor” the “Don’t Worry, Be Happy” crowd on Wall Street bought into – hook, line and sinker. It was mine, and a small number of others, who actually believed FED policy was going to be the lead cause to the worse economic period ever in America’s history.
In the last week, I’ve been truly “blown away” by the public admittance of one former and one current FED official. The “mind-boggling admission here by Richard Fischer even stunned the TOUT-TV (CNBC) crew during his interview.
Another “false hope” the FED had many buy into was the great benefits Americans would reap from the collapsing oil prices. Well now FED President John Williams openly says the FED got it wrong on oil. Fonzie would tip his hat to these two!