The Worst Is Coming

The economy's weaker than the jobs report would suggest. The fed is going to still be aggress ive, and we still have the risk that they're going to put us into a recession by being as aggressive as they say they are going to be ok. I'm working on a fen at 50 basis points on the next hyke, and 25 after that. I think they're looking at commodities rolling over. We've never had a recession when we printed this much money before it.