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Lee Rogers
Daily Stormer
December 22, 2018
Earlier in the week, the Federal Reserve announced that they would be hiking interest rates and that they would be doing more interest rate hikes in the future. This announcement has caused a fairly significant crash in the stock market.
CNBC:
Stocks plunged again on Friday, bringing the Dow Jones Industrial Average’s losses for the week to 7 percent, putting it on track for its worst week since the financial crisis in 2008. The Nasdaq Composite Index fell into a bear market.
The Federal Reserve’s rate hike on Wednesday drove the losses this week and fears of an extended government shutdown only added to the pain on Friday.
The Dow Jones Industrial Average fell 400 points in turbulent trading that sent the blue-chip index up as much as 300 points earlier in the day, only to trade in negative territory less than one hour later. The initial tick upward came as Federal Reserve Bank of New York President John Williams said that the central bank could reassess its interest rate policy and balance sheet reduction in the new year if the economy slows. But those gains slowly disappeared as investors used that short-term pop as a chance to sell more. The broader S&P 500 fell 2.1 percent on Friday, while the tech-heavy Nasdaq Composite shed more than 3 percent.
This was not difficult to predict. When the Fed raises interest rates they are effectively tightening the supply of money and discouraging borrowing. Generally speaking, if someone has to pay a higher interest rate, there is less of a chance that someone will go ahead and borrow money. This means less economic activity and growth.
There’s been a series of .25 percent interest rate hikes during Donald Trump’s presidency. This might not seem like a big deal, but this comes after nearly eight years of zero percent interest rates. The Fed created an enormous bubble with an easy monetary policy and they seem to be hiking interest rates too aggressively considering the situation.
The Fed and all these other central banks have far too much power. The fact that a central authority which has no accountability to the people is able to engineer economic booms and busts at a whim is completely insane. And even if you assume that the people at these institutions are trying to do the right thing, there is nobody in the world who is smart enough to fix the value of money. It’s no different than having an institution trying to centrally fix the price of oil or other commodities.
You’ll notice that the Jew-run media constantly talks about how important it is for the Fed to have “independence.” In other words, the Jews don’t want the Fed to be accountable to anyone. That’s why they fought like crazy when there were proposals in Congress to audit the Fed.
And speaking of a Fed audit, Dr. Ron Paul did an interview with the Jew Larry King where he discussed the current situation. He bashed the Fed and warned of further economic problems.
Without going into details, Dr. Paul basically thinks we are all doomed and everything is fucked. And there’s probably a 50/50 chance that he is right. Of course, nobody knows for sure. At this point, it is best just to stay out of debt and let the chips fall where they may.
None of us have any control over what’s going to happen but whatever happens is going to happen.
