Jim Rogers tells it like it is here. He’s a man after my own heart who is up front. Asked about suspending market trading, he correctly said this would not help and in fact would defer an economic and market recovery. Jim summarized the official Fed and Treasury thinking as follows: “Nobody has liquidity. Nobody will lend any money. Nobody has any money.” The official thinking is confused. And there are lots of people with the same idea, and so they are helpless in saying what is wrong with the Fed’s money pumping. The Fed has this argument, wrong though … Continue reading Liquidity revisited