Jim Cramer was an outpoken critic of the Fed and Chairman Powell's push to "normalize". He felt this was wrong and was vocal about it.
It is no surprise that Cramer praised the Fed Chairman for the decision to pull back on that stance. The Fed said it was stopping the unloading of the balance sheet while rate hikes would cease.
The only problem is this creates a riskier situation. The Fed made the decision because we are in for a hard landing. QE does not work, something the Chinese know. The Fed is acting in an effort to keep things propped up when there are speculative bubbles all over the place.
Cheap credit never ends well. After a decade of it, we are only going to see more.
Click on image to read full story.
Cheap credit doesn’t just not work, it’s also highly dangerous. It promotes irrational spending and investment that ultimately lead to ever-inflated bubbles.
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