Wednesday Is Fantasy Day for the Fed’s True Believers

With the Fed scheduled to make its usual, momentous announcement on Wednesday afternoon, we should expect the stock-market to slow down even more between now and then, if such a thing were possible. It is astounding that the “tightening” hoax the Fed has conned pundits, economists and the hacks who invent the news into believing all these years still has any power over these yo-yos. For my part, I will return to a mantra that I repeated for more than a decade without ever being contradicted by fact: Significant tightening is about as likely as a Martian invasion. The Fed’s ‘inflation-is-lurking-around-the-corner’ carny schpiel is one of the dumbest lies ever swallowed by the masses. Fade it and bet on the unwind with T-Bonds or dollar instruments if you want to win big — and purge from your brain any notion about the return of inflation or of a heated economic recovery anywhere on the planet. Ain’t gonna happen.