THE POST SAYS

Well, now it's really official. We philistines have received the vaunted imprimiture of that noted MSM scribe, the Washington Post, the media outlet that nailed the Watergate scandal all those murky years ago.

Slow down your heart rate and heave a couple of heavy sighs of relief. We can all relax now, the news is out and the truth all over town: "The Federal Reserve may have made a huge mistake."

In traditional journalistic style the Post sort of, kind of hedges a bit. But no matter. This is the Washington Post, the property of the Omaha Scold and the once snooty enclave of those journalistic giants, the Bradley's. Genuflecting is gauche. But we understand. Control yourself. It's not the lottery, but it ranks right up there. From this moment forth we will all surely know what to do: Cancel your subscription. The Fed got it wrong.

Markets sure seem to think that the Federal Reserve has made a big mistake.

It hasn't just been stocks selling off 10 percent to start the year. It has also been bonds saying that they don't think the Fed will come close to hitting its target of 2 percent annual inflation anytime in the next 10 years. Markets, in other words, have done everything short of holding a boom box outside of Fed Chair Janet Yellen's window to beg her not to raise interest rates any more after the Fed hiked them in December for the first time in nearly a decade. And it just might work. After all, there's no such thing as an atheist in a foxhole or an inflation hawk in a stock market crash, especially when prices were barely rising to begin with.

Why is that? Well, the stock market might be the worst way to tell the future, except for all the others. So even if, as the old joke goes, it's predicted nine out of the last five recessions, that's a still better than predicting zero out of the last 220. That, as Larry Summers points out, is how many the International Monetary Fund has seen coming at least a year in advance. The fact, then, that the S&P 500 seems to be saying that the recovery is falling apart should make even the most committed inflation-fighter wonder whether there is actually anything to fight.

It's generally not a good thing when the stock market says you might have to start cutting rates right after you started raising them.More:

washingtonpost.com/news/wonk/wp/2016/01/26/the-federal-reserve-may-have-made-a-huge-mistake.

This is a akin to turning on one of your own kind, not an unheard of event in the daffy world of MSM. Surely, there's at least a trace of anti-feminism here, one that another staunch feminist will most likely pick up on the campaign trail, pointing the finger of blame at one of her boisterous opponents.

Meanwhile, back in the real world many of Wall Street's high and mighty along with MSM are scratching their graying pates trying to figure out why there's so much anger afloat today around the globe.

Huh!