The Fed’s Potemkin Village “We pretend to work and they pretend to pay us.” Anonymous Soviet Union “worker” Five Long Years in The Fed’s Potemkin QE Village The term Potemkin Village is derived from the account that Prince Grigory Potemkin once constructed a fake but lavish looking village along the banks of the Dnieper River … Read More →
“Markets can remain irrational longer than you can remain solvent.” John Maynard Keynes Today’s May reading of the Institute of Supply Management is just another in a series of underwhelming economic news. The reading showed a decline in manufacturing. But, no matter the markets rallied as they see it as a sign that the Fed … Read More →
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