Mr. Markct doesn’t seem happy with the latest news or the Fed’s actions.
He should stop complaining. The European Central Bank has lowered “interest rates” (read: fees) from negative 0.2% to negative 0.3%.
We wrote “negative,” because when we saw the news we couldn’t believe our eyes. “Does that say ‘-0.2$’? Do they really mean ‘minus’ 0.2%?” Yep, they did. News reports wasted hundreds of words on the action of the bankers, never mentioning that this “rate” was effectively forcing member banks to pay the ECB to hold their money.
Meanwhile, on the political/Islamic terrorism front, we get idiotic headlines about the San Bernadino massacre from the WSJ and others like this: Shooters Leave Trail of Clues but No Clear Motive. What????
So, IEDs, bombs, long guns, piles of ammo, Go-Pro cameras strapped to heads, camo clothing, trip to Saudi Arabia, growing beard, suspicious cell phone calls, etc. does not leave a clue??? Oh, right, their friends were surprised. “He was so quiet.”
Actually this kind of misdirection and deliberate misunderstanding makes us want to run to our refrigerator and get out our tin foil hat again. What? You don’t keep yours in the fridge?
IFOs last post was on Sept. 18. We thank all of our faithful readers who have clearly been checking back from time to time, since our readership as measured by WordPress has continued almost unabated.
We’ll try to be more consistent.