Regular readers of this blog know I don’t believe in the Plunge Protection team.
Exhibit A has always been the Nasdaq’s 78% plunge from March 2000 to October 2002. If the PPT couldn’t stop that runaway train, what can you expect them to accomplish here, other than delaying the obvious and inevitable conclusion to a market drunk on cheap money and an economy driven by ultra low rates?
However, I do not believe the Fed or the White House are going to sit on their hands in an election year as the whole house of cards collapses around them. (this is true, regardless of which party is in the WH).
So let me open this up to the assembled multitudes: What is the likeliest course of intervention?
No answer too outrageous will be mocked. . .
What say ye?
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.