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Ep. 173 Brexit Not The Reason Fed Won T …hike in june

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This is the week of the June FOMC meeting, although it's really going to be a dud
For a while there was speculation that the Fed was going to pull the trigger and increase interest rates for the second in almost 10 years - for the first time this year
I don't know if anybody expects the Fed to raise rates on Wednesday - it's a 2 day meeting, it gets started tomorrow and we get the announcement on Wednesday afternoon
Brexit was one of the things they were concerned about
Now the polls are showing that a British exit of the EU is becoming more and more likely and that was one of the things supposedly the Fed was concerned about
I think all that is an excuse - they're really concerned about the U.S. bubble economy and domestic problems
But they don't want to acknowledge that so they want to rationalize their decisions with problems abroad
That vote is looking like it may go the wrong way as far as the powers that be are concerned
I've already mentioned on this podcast that if I were in Britain, I would vote to go
It's not because I'm anti free trade, I'm for free trade - it's just that the EU is no longer about free trade
That was its initial pretext and it might have been a good idea, but no idea that involves more government can ever be good
The problem with government is that it grows and grows and grows
Like the camel getting its nose under the tent
That's what happening in the EU and the British are finally saying we've had enough
It's too bad the British don't have enough with their own big government, but they don't want big government imposed from Brussels
Whatever benefits member nations got in the beginning from freer trade, they've lost from regulations, taxation and micro-management coming out of the EU
As I said before, the only reason there was a need for the EU is because governments impose too many tariffs and regulation and theoretically the solution was to let some other entity circumvent all the other government regulation
And they made the deal with the devil and it didn't work out

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