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Train to Catastrophe Junction- Professional Edition

The Fed announced a discount rate increase after the close today, but said it wasn’t a tightening. Who are they kidding? The markets didn’t get the joke. So the Fed remains hellbent on committing the greatest blunder in central banking history, an inevitable result of the cumulative series of blunders which began when Alan Greenspan first took the reins of the Fed and continued under the current academic lunatic.

Meanwhile, the Treasury will be selling $112 billion in new Treasury paper next week, $12 billion more than estimated by the TBAC. Once again, we were right. They were wrong. As I have been harping on for the past several months, the assumptions on which the government is basing its projections are dead wrong. Tax collections continue to collapse. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.

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