How convenient for the Fed that a new covid variant "suddenly appears" right before the month they talked about tightening?
Money printer will never not go brrr. They just need an excuse for the public.
Yep, of the 100 variants over the last few months, they decided to use this one for their media attack dogs. They know they can't taper, infact, they know that they must keep increasing the brrrr. Just needed that excuse to save face.
I think they've already seen the early retail data coming out, and realize that hardly anyone is buying anything anymore, for Christmas or otherwise. They already know that this shopping season is going to be a bloodbath of red.
The whole world is deflating, and they know it. So this is all a smokescreen cover for a controlled demolition of the world economy. Mass layoffs, lockdowns, and firings (due to non-compliance with a certain mandate) is not just a byproduct of all this, they are actively seeking a shakeout of tens of millions of people from worldwide employment. They need small businesses to fail and close permanently. They NEED it to maintain big corp profitability and to get more cheap debt fuel from the Fed.
A quick look at the falling labor participation rate proves this. Jobs that are permanently lost and never coming back.
Sadly this is pretty much the only working explaination that makes sence anymore.
They are crashing the markets over a long weekend in the US when they are either closed to the public, or only open 3.5 hours and they intend to take as much out of Joe Public's savings as possible.
Occams razor.
But one little light of solace.
Wonder why people like Hillary Clinton are out in the news chirping about the evil Bitcoin?
Because it is NOT a part of this long laid out plan. And they are beginning to see it is going to be trouble.
I hope President Bukele survives all this... I would imagine people are talking about "sending a message".