“HEY SAVERS…GO SCREW YOURSELF!”

By Gary Kaltbaum- June 21,2016

We have been talking and writing about the sickening Fed policy that for years, has completely ripped off savers, completely destroyed the riskless income investment, completely forcing these saved dollars into risky income investments and for that matter, into the markets.

This morning, Mrs. Bubble was asked by Rep Jeb Hensarling about the Fed’s legal authority to go to negative rates.

” WE DO HAVE A LEGAL BASIS TO PURSUE NEGATIVE RATES!”

Granted, Mrs. Bubble then went on to say that it was not in their plans but then again, several weeks ago, she just about assured the world that a rate hike was coming in June.

That answer is Mrs. Bubble again trying to goose markets with even more easier money. As we have stated forever, their only goal is to keep markets up because if markets crater, the curtains come down on their enabling of massive debts and deficits around the globe which will continue to block the potential for any economy to get going and reach its full potential.

So to the saver…Mrs. Bubble is again telling you to go screw yourself! Just because they have taken any riskless income investment away from you and gave your money away to the good folks at the banks and lenders…don’t worry because as the main culprit, Mr Bubble Bernanke said…any income not made by savers will be made up by a better economy. Yes…this maniac did say that.

We expect that eventually, this maniacal Fed will enter the negative rate zone even though negative rates around the globe have done nothing to help the cause. These maniacs are addicted. There is no number too high to print and no number to low to go on rates. (We actually believed they could not go below 0%) We had better never, ever, ever get to the point where their easy, easier and easiest money talk does not move markets up and instead sends them down. It will be at this time where as Mr Buffett said, “It’s only when the tide goes out that you learn who has been swimming naked!”

Depending on what abacus you are using, there has been $15-20 trillion of printed money, $10 trillion of negative rates, 0% rates for almost 8 years, the outright buying up of markets and who knows what else…all the while telling us they are in control and everything will be fine. But all this has only enabled the highest leverage and debt in history, government (taxpayer) deficits that will never be paid back and the continued centralized power in just a few hands with no accountability. And the Knicks still suck!