Global Markets Recap
MESTER: FED LEGALLY BARRED FROM EQUITY BUYING, DOESN’T SEE FED BUYING STOCKS
Let’s examine this logic from a different perspective.
COLLEGE STUDENT LEGALLY BARRED FROM BEER BUYING, DOESN’T SEE FRAT HOUSE BUYING KEGS
It’s not a tremendous leap of faith to assume illegal activities won’t be publicly pursued. Have we mentioned that buying debt of companies in corporate America is a perfectly legitimate enterprise? This is why all NYSE & Nasdaq companies are scrambling as fast as humanly possible to issue corporate bonds against the permanent Federal Reserve backdrop & safety net. Quick, serious question: how many libertarian, conservative, capitalist business titans & tycoons have you heard from in recent days that all roads lead to government safety, munificence & largesse. By my math from the beach in Florida, I count 0. Ah, socialism. I’m stealing this line from an unknown author but there are no atheists in foxholes & no capitalists in a global pandemic.
At any rate, the Fed’s singlehandedly propping up the U.S. & world economy with its purchases of all legal things that can be purchased – and nothing more. It’s like my Dad once said: “Not a foot past Gossage Grill.” As he sent a handful of college kids out past midnight to pick up a few burgers for their friends.