THE FED IS LOOKING AT THE WRONG DATA...THE DOLLAR AND OIL ARE WHERE THE REAL PROBLEMS ARE...
AND THERE IS NOTHING THE FED CAN DO ABOUT THE BAD CREDIT ISSUES...EXCEPT LET THEM FALL...
SO THE COMING RATE CUT WILL DO A LOT OF HARM...AND WILL REALLY HELP NO ONE IN THE LONG RUN...
AT SOME POINT THE FED HAS TO LEVEL WITH THE PUBLIC ABOUT THE "ODD" NATURE OF THE US MACROECONOMIC POSITION...
THE TRADE DEFICIT IS NOW STRUCTURAL...AND CAN'T BE CHANGED SHORT OF A CONSUMER DEPRESSION IN THE US...
THE US USED THE DOLLAR AS A SHIELD AGAINST LONG TERM SUSTAINABLE POLICY FOR TOO LONG...AND NOW IT'S TIME TO PAY UP...
CHINA WANTS THEIR MONEY...OR THEY WANT US ASSETS... DEAL WITH IT...
AND THE WEAK DOLLAR WILL CAUSE MORE TROUBLE THAN IT CURES...
