Saturday, September 21, 2013

Taper Talk 101

In response to this article where Federal Reserve Bank of St. Louis President James Bullard says tapering was a “close call”: http://www.bloomberg.com/news/2013-09-20/bullard-says-weaker-data-prompted-borderline-fomc-taper-delay.html

Tapering was a close call? Are you kidding me? 9 voted against tapering and only ONE voted for it, and of the 9 Bullard was one of them.  That's like saying I nearly failed my exam when I got a 90% on it.  The market reacted violently on Friday to what Bullard said, with a huge sell-off in gold and gold-mining stocks among other commodities.  Why is the market reacting to what any of the Federal Reserve members say? This is yet another demonstration that they are bold-faced liars.

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