Fireworks
3/18/2015
By Charles Payne, CEO & Principal Analyst
I know all the world is focused on America's central bank and today's decision on interest rates, but all the fireworks, literally, happened at the European Central Bank (ECB).
There, police in Frankfurt had to arrest more than 350 people against austerity programs instituted in Europe since the onset of the Great Recession. I'm a proponent of austerity, but it's not a good look when you tell regular people they have to suck it up for a while and then build a billion dollar building.
 The target for protesters who call themselves Blockupy is the new $1.3 billion, 600 feet tall, tinted glass tower temple to house the ECB.
Protesters say it's a sign of capitalism which only enriches a few while impoverishing the masses.
Do they have a point? On my show, Making Money with Charles Payne -Fox Business, we'll demonstrate how the super-rich have gotten richer faster than anyone else.
While the ECB has no shame in their new, more physical presence, Janet Yellen is on a mission to make the Fed more incognito …at least when it comes to showing their hand.
The debate over "patient" language was missing the point that from here on out, the market won't be hooked on guidance because even the Fed will play it data point to data point.
Can those Wall Street babies handle this brave new world?
Hedge fund giant Ray Dalio penned a letter warning and begging the Fed to promise to either not knock over the apple cart or promise to pick it up when it does using 1937 as an example.
In 1937, the US economy took a massive nose-dive and many economist point the finger of blame at the Fed tightening the money supply beginning in 1936. The damage was so vast it took four years to rebound. While this has been a horrible recovery, the backdrop is different than 1937. I will say the turmoil was used to pass more government programs and extend the progressive agenda so everyone from Wall Street babies to conspiracy theorists are going to be upset if "patience" is removed from Federal Open Market Committee (FOMC) language.
Here's the betting:
Charles Payne
Wall Street Strategies
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