- Defund Obama Care, Stock Market New Highs, Navy Yard Shooting & JP Morgan Fined $920 Million!
by Greg Hunter’s USAWatchdog.com
To taper or not to taper–that is the question, and we have an answer. The Fed is going to keep on printing $85 billion each and every month. All the speculation the Federal Reserve was going to cut back on the money printing went “poof.” The stock market spiked to new highs, but this is really just a “sugar high.” The Fed is showing it has no exit plan, and if it did cut back on bond buying, interest rates would have spiked even more than they already have. This is an ominous sign that the Fed has lost control of the bond market. Keep in mind, interest rates shot up more than 1%, and that was with the Fed buying $85 billion a month. They knew if they cut it back, rates would have shot up even more, and the economy would have tanked. The Fed is stuck, and as famed investor Jim Rogers told us here on USAWatchdog.com, “If the Fed stops money printing, it’s going to be a disaster. If the Fed keeps printing, it’s going to be a disaster. Either way, it’s going to be a disaster.” It’s only a matter of when.
The Republicans in the House are trying, once again, to defund Obama Care. Some say they are risking a government shutdown. I say “no way” they are going to shut down the government because they could also shut down the weak and fragile economy. I think this is just a way to mark out their political territory and to try to get the Obama Administration to negotiate cutting some spending. The Democrats are going to have a very tough time in the 2014 mid-term elections because of this job killing law that even some Democrats call a “train wreck.”