Powell’s Black Hole

Unwittingly or not, The Fed has created a black hole of rising nominal rates and a rising POSX and this beast is now consuming nearly all “markets”.

I’m a little late getting started because I spent some time this morning watching a press conference where some astronomers and astrophysicists declared that they had finally found and proven the existence of the black hole at the center of our Milky Way galaxy. Einstein had told us we’d find it there and, it turns out, he was correct. The computer simulated picture of the black hole is your blog image today.

And that black…

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