Thanks GB, but am not sure how this relates to the post WW2 empirical statement re Fed hikes which I made above.
As you will recall, I lived in US from 1983 , start of the mother of all bulls after systemic inflation had been consciously purged by Reagan and Volcker once and for all with 18, 19% rates - same in OZ too..old folks will remember it well - (tho there was a minor recession early 90's for which Bush Snr will never forgive G/span for hiking, but that is not the reason he lost the Election of 1992...it was spoiler Ross Perot) thru 2009, so am familiar with the most recent recessions. I am also familiar generally with US (economic) history, and we can go back to Alexander Hamilton, if so desired (and the first National Bank), and even Jackson's Second National Bank. There has always been a suspicion in US of "bigness", to this very day, to this current Electoral cycle. Indeed, it's all about "bigness" (Trump and Sanders, most especially the latter). See The New Yorker March 28, 2016 Nicholas Lemann (no relation to the bank).
Goes way back to Hamilton vs Jefferson...I cannot upload pdf file.
It's also useful to recall long time (the longest, actually) Fed Chair William McChesney Martin's famous statement:" The Federal Reserve, as one writer put it, after the recent increase in the discount rate, is in the position of the chaperone who has ordered the punch bowl removed just when the party was really warming up."
Whether the party is in fact just getting started - let alone "warming up" is of course, open to debate.
In fact, it's full time job for many (nice work if you can get it)
This is referred to repetitively, over and over:
copyright link/finance/financialcrisis/10135834/The-Fed-wants-to-take-away-the-punch-bowl-before-the-party-has-even-started.html
Separately, not long ago, you went out of your way to identify your favorite golds (such as RSG, TRY, others). You mentioned you had sold out a couple of weeks ago, and I think just said you were now short RSG now.
I assume the prior statement was valid when made, but circumstances have since changed (and of course when the facts change, so one should change with them). Is that a reasonable assessment?
Speaking of parties, I wish someone would invite me to one (esp. on a Sat night!) And leave the punch bowl! There's a song about that, I believe.
