The Fed Is Not Owning the Market

i think it was a wilful abdication, an attempt to wash our hands, to distance themselves from owning the market. And that's something that investors are having hard times coming to grips with. It could be 19 38, 19 37, 38 all over again. Because this is yoyo. Say, how does it affect us? With what's going on in china? It's a wave of devaluations. It's a deflationary spiral, which is just bad. What it finally does is, i think, it cripples, maybe in a systemic, permanent way, global trade. and it's going to hit us like a ton of bricks.