Here’s an ugly quote to start your day:
"Our long-held conviction that the economy can’t sustain rapidly rising interest rates remains intact. The main reason for this is the sheer amount of debt in the system and the average consumer’s undesirable financial situation … if the economy starts showing signs of weakness, then the question begins whether the Fed will continue tightening monetary policy. If it stops and we try again to artificially induce growth, then excessive speculation will remain the only game in town, eventually leading to a spectacular collapse of the financial system."
-Elliot Gue, Ivan Martchev and Yiannis Mostrous, WSW
More on this later . . .