He basically said, We screwed up and the current stock market levels are baloney.
No big deal. It’s only the Fed. It’s only the WORLD economy which has been inflated and which you are now warning us must deflate to correct for the Fed’s mistakes. I mean it’s not like 2008 was created by the Fed or anything. So “watch out below” is the message huh? Thanks for the heads up.
It is interesting that Fisher makes reference to the junk bond problems of a few weeks ago. He says that that market is a leading indicator of where markets generally are likely to go. We (and others) said the same thing at the time.
The man made storm continues to roll toward the coast.