After 2 years of talking about raising rates, the Fed couldn’t even ‘risk’ a .25 increase. The markets are selling off on the revelation that central banks are out of ideas and the global economy is sinking. The German Dax (Europe’s ‘power house’ economy) is off another 3% today, taking its decline since April to just under 20%. Leading indicator?
Bill Fleckenstein, Fleckenstein Capital, analyzes what he believes is the problem with the Fed and provides his own market outlook. Here is a direct video link.