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Yes folks today was the day we've been waiting on for a week. Today was the day Janet Yellen and her band of cronies at the "oh so criminal" Federal Reserve were going to meet and discuss their views on interest rates. Our view was that yes, absolutely she was going to hike rates and at 2 pm. we got that hike.
In our last free investing newsletter, we said that we felt that the market would probably reward a rate hike. In all reality, for decades the idea of rising rates was a negative to the market. But today the narrative on negatives has changed. When Brexit was coming they told us the markets would crash. Instead it lit the fire of an all time high rally. When Trump got elected they said the market would crash. We ran to all time highs. So we figured that the market would reward this hike. They did, the DOW gained 112 and the S&P about 19.
However... something wicked this way comes. The commentary section of the free investing newsletter speaks about the global debts that cannot be paid. The problems we face. We are in way over our head, with debt to Gross National product at over 14 to 1. This has never been seen in history and I assure you...debts that cannot be paid...will not be paid. It's worth a ponder.