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Off the Cuff: The Fed's Increasing Impotence

Analyzing this week's "non-announcement" from the Fed
Wednesday, June 20, 2012, 7:04 PM
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In this week's Off the Cuff with Mish & Chris podcast, Mish and Chris address:

  • Fed Fizzle
    • Even if/when the Fed decides to inject more liquidity, it's increasingly questionable whether that will have any real impact
  • Europe's Choice: Uncertainty or Panic
    • The day of reckoning is approaching, but Europe is showing us we still have time left to act
  • Crisis Fatigue
    • Don't deviate from your convictions. Just because something is taking longer than you expect doesn't mean it won't happen

The Fed disappointed the herd hoping for more QE (i.e., thin-air money printing) to be announced this week. Asset prices are drifting lower as a result, increasing the already-growing tension in world markets. Meanwhile the contagion in Europe seems to grow worse by the day. Even though it may feel tiring to stay ever-vigilant for a market dislocation, the risk is still worryingly high, so continue to remain on the defensive as best you're able.

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