As I will explain in a subsequent post, the ongoing crash in world markets should, if properly managed, only be a blip. However, confidence is everything in the markets, and our government’s response will fall to: a gasbag huckster who ran a bunch of Atlantic City casinos into the ground; a plutocrat with no relevant experience in dealing with these situations; and a completely brand new Fed chairman.
If they succeed in screwing this up, they could turn a forgettable market correction into a big, beautiful bear market and a recession. It’ll be amazing. Believe me. Believe me.