Losing Patience Does Not Mean the Fed has Lost Patience

Published: March 19, 2015, 2:12 a.m.


\n\t* The Fed released long-awaited FOMC official statement
\n\t* Indicating they will be more patient without the word "patient" than when they were officially patient
\n\t* Why take the word away in the first place?
\n\t* The Fed wants to appear to be moving closer to a destination to which it has no intention of arriving
\n\t* The Fed is clearly more concerned about the economy today; they reduced growth estimates
\n\t* Janet Yellen said she will not raise rates until she sees improvement in the labor market
\n\t* The Fed not satisfied with 5-1/2% unemployment
\n\t* The jobs number is the outlier and will turn around
\n\t* Housing starts collapsed in February; biggest in 8 years
\n\t* Economic Surprise Index is most negative in memory
\n\t* It doesn't matter what the unemployment rate is; the Fed can't raise rates without creating a financial crisis worse than 2008
\n\t* The minute the Fed went down the path of QE, they sealed our fate
\n\t* There is now so much debt that we need QE more than ever
\n\t* The dollar had a huge rise in anticipation of rate hikes
\n\t* The Fed is more likely to launch QE4 than to raise interest rates
\n\t* The Fed is not going to raise interest rates until there is a currency crisis
\n\t* When the dollar turns, commodity prices will surge in all currencies
\n\t* The fact that the day of reckoning has been delayed with increased debt means a bigger payday for Euro Pacific Capital investment strategy
\n\t* It will be better to restructure and default on some of our debt that to deflate it away
\n\t* Understand the end game, ride it out and have the last laugh
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