Letter: FED is putting U.S. in poor position - Ahwatukee Foothills News: Letters To The Editor

Letter: FED is putting U.S. in poor position

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Posted: Wednesday, January 8, 2014 5:45 am | Updated: 7:18 am, Mon Jan 13, 2014.

Our Federal Reserve is putting the U.S. in a very poor position. It seems that the stock market reacts to the FEDs’ QEs: Every time the FED indicates that they will start a QE the market jumps 25 percent, every time they announce tapering the market retracts 20 percent.

So, the stock market is controlled by the FED, making it impossible to predict your investments. It is easy for the FED to do these things, but the hard part is how to get out of this quandary. Once the country has tasted the good times, where the economy has prospered, people don’t understand why things should change. It has to change because the FED cannot sustain QEs forever. You can summarize this by saying that the government has taken over the market. So, instead of the market dictating what happens, the government has been the decision maker. We don’t have free market capitalism anymore, we just have an intrusive and interventionist government that thinks that they know more than the market, and they think that they can navigate our economy through the turmoil of FED activism. Our FED has a bunch of intellectual idiots that like the power of the FED, and are going to lead America to the poor house if allowed to keep going.

Don Crook

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