Tuesday, May 02, 2006

Fleckenstein on the Fed

An article from Bill Fleckenstein's MSN Money column, entitled, "Does the Fed really 'know' what's going on?". Here's a taste:

Current Fed members have left an enormous paper trail of their thoughts, almost none of which inspires confidence. Yet, confidence has been conferred on them. It's confidence in the Fed that underpins the stock market, the economy and the dollar. That confidence is going to be shattered at some point, unleashing enormous damage to all three. The clock is ticking. We just don't know exactly when the end-game will start.

Read the whole article (and some of his past articles) to find out why Bill feels the way he does. By the way, the above article link came from Safehaven.com.