RE:Tomorrow could be goodTodays ongoing slaughter should bring on a snide smirk on Powell's face. But not
so fast. Wasn't it him and fellow asscocates who kept insisting inflation was transitory
and kept low rates in place for much longer than necessary.? Now they are in panic
mode and H ell bent on hammering everything that isn't glued or nailed down in this
economy. Under react or over react, but never get it right.
I'm seeing overcorrecting for their mistake which is going to lead to another disaster.
This could lead to a massive credit crunch shades of 08-09 if they keep this up. That would be a catastrophe for the system and the markets as well. The positive thing
is oil & gas companies have conservatively managed their companies so should weather the storm way better than last time. Most have paid down debt and are flush
with cash, a direct opposite to where they were a few years ago.