Money Market Disorder----Still More Evidence The Fed Is Clueless

But it’s not really EFF that they should be worried about. It is, in fact, all the other money rates that are all over the place. The unpredictability of money markets leads to hoarding liquidity among money dealers and then the spread of chaos into other markets and eventually the global economy. We are already in that position.

The monetary decay on display right at this very moment, to say nothing about economic slowing, is staggering. The lackluster, immaterial official response focused on EFF is par for the course. They really don’t know what they are doing.

David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.