Once again, the FOMC held interest rates steady, indicating that rates would rise gradually. They said that the labor conditions were improving, and for the economy, the short-term outlook was better. Of course, that makes one wonder what they think of the long-term outlook.

The Fed has got themselves into the proverbial "trick bag." If they raise raise rates, then the dollar will jump, risking a hit to the economy as US goods become more expensive. Also, if they raise rates, then they risk knocking down the facade, they created, with the stock market at all-time highs. Its that "wealth effect" thing; we spend more because we feel richer and that helps the economy. Of course, if they hold rates low, they indicate a weak economy, then scare everyone anyway. And then they have that credibility issue. I want to gag!  

They actually created this mess. Take it back to Alan Greenspan, who set off this worldwide trend of excessively low interest rates in attempt to stave off the dot.bomb crash in 2000 (Read Fleckenstein's book, "Greenspan's Bubble"). We'll then blame Clinton with "Affordable Housing" and the rest of the Elites who watch Fanny and Freddy create the housing bubble. We'll, we all know how that ended (or not ended yet). And the cycle of manipulated low rates continues. So much for taking care of us. 

I guess what really had me sending this note out was seeing the very old advertisement below. As the Fed is trying to fix the mess it created, It sent me spinning deep into my Libertarian core. I think you'll get it.