If Wall Street’s overpaid finest – and paid with taxpayer largesse, I might add – wants to figure out when the Fed will “taper,” then they should spend their time figuring out what it will take to get unemployment below 6.5%. Here’s my call: we won’t see that number in our lifetime.
Follow the f#cking money!
Given the response reflected by the media and the fact that 100% of Wall Street’s brain trust expected a $10-15 billion “taper,” I’d say that every single Wall Street economist is brain damaged. What the hell are they getting paid for when they get their forecasts so egregiously wrong every dam* week? Seriously.
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About Dave Kranzler
I spent many years working in various analytic jobs and trading on Wall Street. For nine of those years, I traded junk bonds for a large bank. I have an MBA from the University of Chicago, with a concentration in accounting and finance. Currently I co-manage a precious metals and mining stock investment fund in Denver. My goal is to help people understand and analyze what is really going on in our financial system and economy. You can follow my work and contact me via my blog, “The Golden Truth” and Seeking Alpha.