On a daily basis the market jerks around like a jumbled mess. But on a bigger plan, there is a theme in play and that theme puts pressure on policy makers.
This market has more to do with the cult of policy making than it does with natural or organic growth and productivity. If the deceleration and deflationary whiff become bad enough and when the timing (timing is complicated with the election cycle) is right I think we have a pretty good idea what will lay ahead.
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