In this week's Off the Cuff podcast, Chris and Mish discuss:
- All Hail the Mighty Fed!
- It's proven it wields more financial influence than the world thought
- The Economy vs. The Markets
- Despite its goal to influence the former, it only can influence the latter
- A Congress of Millionaires
- The rich are indeed running the show
- The (Un)Affordable Care Act
- Is anyone saving money under this plan?
Oh, well; a new year – but the same market action (so far). It seems stocks are still not allowed to suffer more than a single day's worth of downward action, despite an ever-growing litany of reasons they should.
In today's podcast, Chris and Mish reflect on how the Fed has kept the punchbowl spiked and the party raging for much longer than anyone (even the bulls) predicted. So: ALL HAIL THE MIGHTY FED!!
Now, for the key question: How much will this party cost us?
The drastic actions that the Fed has undertaken since 2008 have not managed to put the economy solidly back on its feet. In fact, the $75 billion per month in liquidity programs would be easily identified as "extreme emergency measures" if we weren't so numb to them by now.
The boost in risk assets has benefited the already-wealthy; no doubt about that. In fact, Chris and Mish note that for the first time in history, the majority of members of the U.S. Congress are millionaires. If you have assets and political connections, what's not to like about
by kennethpollinger 
