"It is sometimes an appropriate response to reality to go insane," wrote Philip K. Dick. Is that why the Fed has lost the plot? As the reality of its balance sheet and the growing debt induced junk bond bubble hits, will the Fed continue to hike? Or is it hiking only so that it has room to cut when the crash inevitably comes?
Either way, there is a recession coming: Who will get the blame? They also discuss whether or not the yield curve needs to invert before a recession can happen? Or can the Fed fight the inversion as the Bank of Japan has successfully done? Can one person stand up and control the markets? And, regarding the junk bond bubble, is not paying back debt with more debt is the height of craziness? Double Down asks Mish Shedlock of MishTalk.com all these questions and more. Tune in to hear his answers!
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