Bill Bonner: Why the Fed’s ‘Taper’ Won’t Work

Bill-Bonner2

“The Fed had little choice. It has to pretend to go straight at least for a month or two more. Otherwise, it won’t have a shred of credibility left. And so far, so good. It looks like stocks will close the month of January down only 3%. Not catastrophic.  The Fed will continue attending its Counterfeiters Anonymous meetings – until the market really cracks. Then it will roll up its sleeves and get out the paper and ink. Janet Yellen will not want to preside over a crashing market any more than Ben Bernanke did.  Yes, the Fed has broken the US economy and its markets. Now, it owns them.  It can no longer permit the stock and bond markets to do what comes naturally to them – correct their mistakes.”

http://www.bonnerandpartners.com/why-the-feds-taper-wont-work/

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