It is always good to have a statement from the coroner when pronouncing death as I did on May 19, 2020. That is when I gave time of death and pronounced “The Fed is Dead.” You especially want the second opinion when you’re talking about Feddie Krueger, who has more extra lives than a cat … a really bad cat.
Zero Hedge’s adopted motto from The Fight Club is “On a long enough time line the survival rate of everyone drops to zero.” Apparently, ZH thought Feddie’s time line had been long enough. Today Zero Hedge stepped in as coroner.
It’s proclamation is a long article, so I’ll distill the applicable parts of it below, but if you want to read the whole piece, with formulas for interest rates, etc., you can find it at “The Biggest Credit Impulse In History Leads To Some Very Awkward Questions.”
Back in June of last year, I only had the courage to ask “Is the Fed Dead?” It seemed likely to me that Feddie was nearly dead. So, I kicked him a few times and raised the question. This year, when the Fed’s heartbeat (the stock market) didn’t start ticking, even after injected with massive QEpinephrine, it