By Paul B. Farrell, MarketWatch
SAN LUIS OBISPO, Calif. (MarketWatch) — We need new blood, because something’s very wrong. Bear’s growling. Commodities tanking. Speculation. Inflation fears. Confidence weak. Negative yields.
Soon Fed Chairman Ben Bernanke will be forced to raise interest rates, confirming Ned Davis Research’s February forecast of an S&P 500 mid-year peak. Yes, “the midyear peak could mark the end of the cyclical bull market that began in March 2009 and the start of a new cyclical bear market,” chipping away at the 50% returns stockholders are praying would continue for two more years. Sorry, game over.
Worse, today’s wealth-income gap is soaring at levels not seen since the days before the 1929 Crash. Reasonable minds outside the political bubble are quietly praying for new leadership before the inevitable happens, before America’s bumbling political and financial leaders trigger the Mother of all Meltdowns and Depressions.
Yes, I’m talking about stopping the damage inflicted on America by the Bernanke Money Printing Company … by Treasury Secretary Timothy Geithner and his ol’ buddies in the too-greedy-to-fail Wall Street banks … by the 261,000 lobbyists creating a Soulless Anarchy of the Super Rich.
Yes, they’re all leveraging a self-destructive Reaganomics ideology that’s tearing down a few centuries of capitalism in one generation. America needs new leaders who can reset our moral compass, stop the destruction.
Continue here: Bill Gross: The leader Treasury, Fed needs Paul B. Farrell – MarketWatch.
