That's what the Fed gave us today.
This is what happens when your bankroll is dwindling and the economy sits on the brink of collapse. The Fed has just about run out of options.
Their plan of stimulating the economy until the "real" economy can heal itself has failed. How long can they keep this zero interest rate game going without destroying the dollar? My guess is the Fed runs out of money before the economy heals.
The damage has already been done when it comes to the economy. The Fed's "tourniquet" is no longer working. The patient(the economy) is about to bleed out.
I am very tempted to get short right now although I didn't put any positions on today. My spidey sense is telling me that investors are on the brink of realizing that Rome is still burning.
I have seen some horrifying evidence of this anecdotally when I talk to friends involved in banking. Companies are panicking in reaction to this crisis and don't know what to do. They are trying to make 10 workers do the work of 30. Their ability to lend their way through this crisis has dried up.
They have run out of options!
Bill Gross from PIMCO(who I think is a genius) has consistently talked about the new "normal" of our economy which is low to zero growth.
Many businesses are still leveraged up hoping that a gigantic recovery can save them from blowing up.
This ain't happenin folks no matter how bad CNBC wants it too. Welcome to the modern version of The Great Depression.
You think it's bad now? IMO you ain't seen nothing yet.