If you believe that central banks' "potent directors" carefully watch economic indicators and deftly adjust interest rates accordingly, this will come as a shock: Central banks are no more in control of interest rates than they are of the weather. Three examples prove this point.
The returns on cash and cash equivalents -- such as U.S. Treasury bills -- have been more than "minuscule." As Elliott Wave International's president Robert Prechter told Barron's in a recent interview, "Cash has been good. Today you can buy twice the house, twice the stock shares and twice the gasoline that you could a short while ago." And as for T-bills...
Announcing EWI's New eBook ...
In this exciting new 45-page eBook, Jeffrey Kennedy shows you – using fresh, real-life market examples – how you can use simple, yet powerful, chart reading techniques to improve your trading.
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