Rate Hikes, Recessions and the Death of Spiritual Boomerism, by Tom Luongo

As debt implodes and the economy collapses, many will make their acquaintance with reality for the first time. From Tom Luongo at tomloungo.me:

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4 responses to “Rate Hikes, Recessions and the Death of Spiritual Boomerism, by Tom Luongo

  1. Bottomline is that the market sets interest rates and the FED follows so to say that Powel is doing anything with his rate in increase other than follow the market is complete nonsense. Do not listen to anything this person says if they don’t know that.

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    • Uturn

      Congratulations, I believe you are the only other person on this site besides myself who has noted that “the market sets interest rates and the Fed follows.” That is entirely correct and I offer my twenty plus years as a successful bond trader as proof. I paid attention to markets, not the Fed, and it worked out well for me. Robert Prechter and his group at Elliott Wave International have done a lot of good work on this. An unseemly number of people get paid far more than they are worth to bloviate what the Fed will or will not do next, but almost always one can know what the Fed will do by watching short term interest rates. Luongo likes to bloviate. Sometimes I put up his articles; sometimes I ignore him. This one was a close call, and maybe I would have been better off ignoring it.

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      • I actually learned about the FED and market rates from Prechter.
        I’ve been following him for about 20 years.

        Luongo may not be wrong about everything but I haven’t found him to be the most inciteful commentator. It’s hard to take him seriously when you have already peeled a few layers beyond him.

        I like your site. Keep up the good work.

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