THEY'RE STILL SNIFFING

When you read MSM paragraphs like this one, it makes you want to go do you know what.

We especially like the one: Fed policymakers are widely seen raising interest rates for the first time in almost a decade at their next meeting on Dec. 15-16, but they continue to parse data and trends carefully given the uneven nature of the U.S. recovery. 

Today, speaking before Congress the good lady noted that even after a hike in rates, the Fed will remain accomodative. That's about as politically correct Fed speak as you can get. It's a warped twist on: "We're from the government and we're here to help you."

That they continue to parse data and trends carefully given the uneven nature of the economic recovery is laughable, to say the least. This is the largest group of economic data parsers this side of the ECB. The only thing uneven is the members of the FOMC.

That's essentially how they get appointed. They send out fliers to all economists saying: "If you!re really uneven, we might have a job for you." These are the one-handed, other-handed folks President Truman called out more than half a century ago.

Nothing new under the sun, the Good Book says. Then you have Yellen saying she's looking forward to the first rate hike in years because it will show the economy is recovering. A testament to that. Wow!

These economists remind me of my little dog on a cold, wintry night trying to decide the perfect place to do his business. Raises his leg here, raises his leg there, sniffs there, sniffs here, on the one hand this is the right place, on the other, nope! it's over here. Two or three frost bitten cheeks later....he's still sniffing.