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Fed holds rates steady, warns of higher for longer

Translation: We're all totally fucked...

Lets face it, nobody wants this, Premiers are begging the BOC to stop, and we have no choice but to follow the US down this slippery slope to impending doom. If we don't, our dollar turns to shit, and we cant have that. We owe too much money, and that would balloon the National Debt figure, as we pay it back in Canadian Dollars.

We are now between an Asteroid, and a bed of molten lava.

Stocks have taken the hint that, there is no relief in sight, yes even safe haven oil is now plummeting based on the remarks of the Fed Today, why?

The Fed's announcement was accompanied by its Summary Economic Projections (SEP) and dot plot, which sees an additional 25 basis point rate hike this year, peaking in the 5.50%-5.75% range. The SEP projections also called for 50 basis points of rate cuts next year.

Well that might have something to do with it. Remember markets are forward thinking, or futures leaning, its not what it costs today, but what we think it will be worth tomorrow that affects stock prices. But in 2022, they got it all wrong... the crash was suppose to be 2023... it didn't happen, so in they went, pushing everything up again, with the Nasdaq leading the way which it always does. But what comes up must come down. And if you've been reading along, you realized none of this is good news. Interest rates up 2000%, Banks Hording cash, defaults doubling to rates not seen since 2008, and Mortgage holders standing in line at soup kitchens trying to make ends meet.

This is old news now, I wrote this about a week ago, and now everything has changed, inflation dropped in the weeks that followed, and now a rate hike is off the table. Really? The people that are leading our country are just making it up as they go along, with no real vision of a path forward. I think a 5 year old has as much chance of getting it right as these experts, screwing with our lives, pushing interest rates, making policy etc.

Water will find its own level, no mater how many buckets you have, and how much you bail. All we can do now is wait and see how badly the BOC and Fed have screwed up...

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