Name:   MartiniMan - Subject:   Powell tanks the market Date:   8/29/2022 11:12:14 AM

Well if anyone thought his 10-minute speech would be dovish they were sadly mistaken and the markets responded as expected.  Because of massive printing of money to satiate Democrats and their socialist wet dream we have that pesky "transitory" inflation to deal with.  The only arrow in the Fed's quiver to combat inflation is Volcker's approach....tighten the money supply, raise interest rates and send the country into a recession.  And investors know that higher interest rates will provide a safer haven of their investment dollars (i.e., equities are no longer competing with 0.1% interest on bank deposits) and a recession means lower profits, layoffs, etc. which will drive down the value of equities.  The housing market is totally in the tank and a recent poll indicated that 50% of corporations are going to or already have laid off employees. 

So buckle up because we have in the course of less than 2 years gone from roaring back from the plandemic to negative GDP growth, recession, high interest rates and the like......Penaut Farmer 2.0 stagflation....because Democrats not only do not know history they always think it will be different this time because "they" are in charge.....not the Democrats that did this to us the last time.