The US is run by Incompetent Children with Credit Cards

At least that is what it looks like when the FED promises to raise rates and lies about it.. That's what it looks like when there's a DEBT CEILING  that is raised periodically. That is what it looks like when these incompetent children rack up debts that have to be paid by their parents (ie Taxpayers).

The FED has failed to raise the benchmark rate as promised ruining its already questionable credibility.   The consequences are financial instability.   The consequences are the FED will be downgraded in the eyes of investors as untrustworthy and the uttering of a recovery will be seen on deaf ears.  Because now the lie has been verified.

In a statement, the Fed said “recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term.”

As a result the USD weakened against other currencies.  The EUR/USD currency pair shot up in what was a lite trading week.  But thanks to the FED billions of wealth will shift out of American hands.  See chart:

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