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So there will also be blood in the casino like never before. Once the Fed is exposed as flat-out paralyzed, rent with public disagreements and out of dry powder, the gamblers and 1 percenters will not only desperately dump their “risk assets” in the mother of all meltdowns; they will also come to detest and loath the FOMC—-thereby setting the stage for show trials on Capitol Hill where the Keynesian posse responsible for fueling Wall Street’s stupendous gambling spree will hopefully feel the wrath of the nation’s awakened sleepwalkers and their currently clueless representatives.
Indeed, if you don’t think the financial markets are headed for a big spot of trouble, please click-on to Janet Yellen’s press conference. Yes, it’s painful to listen to and even worse to watch, but the exercise will make one thing abundantly clear. Namely, that the most powerful economic agent in the world is naïve, superficial, paint-by-the-numbers Keynesian bathtub plumber who has no clue about the incendiary forces that the Fed and other central banks have unleashed in the global financial system.