There is nothing in the market’s way right now. While stocks travel the path of least resistance, how soon will the Dow Jones Industrial Average hit 18,000 and beyond? Shah talked with Stuart Varney on Fox Business on Monday about a year-end rally – and the one stock that will profit the most from these peak prices.
Talk about putting your foot in your mouth. This would be funny if it wasn’t sickening.
During congressional questioning on Friday, Sen. Elizabeth Warren (D. Mass.) commented that the U.S. Federal Reserve‘s job is like that of “a cop on the beat.”
And that’s when New York Fed President William Dudley inserted a foot in his big mouth.
He responded, “I don’t think our primary purpose as supervisors is a cop on the beat, it’s more like a fire warden; make sure that the institution is well run so that, you know, it’s not going to catch on fire and burn down. And managed in a way that if the institution is stressed that it doesn’t collapse and threaten the rest of the financial system.”
In other words, there’s no “policing” going on.
Dudley said it – not me.
- Science Finally Proves What We Already Knew About Bankers
- Looking for Signs of a “Toppy” Market
- Why Sleazy Auto Lenders Are the Nation’s Most Reckless Drivers
- The Case for a 2014 Year-End Rally
- Shah Takes on Two Heavyweight Prizefighters: Amazon.com and Alibaba
- Unemployment May Be Down, but Our Future Looks Like a Disaster
- To Win the Money Game, You Must Learn to Trust Yourself
- The Universal Truth of Trading