Multiple finance/econ articles lately insisting "the fundamentals are sound" and that video of the guy blowing his top saying the Fed NEEDS [!!!!] to open the "discount window."
Someone showed me a YouTube vid that translated some of this language of the trade, and it seemed like the Fed opening "the discount window" was just a nice way to say "bail out the rich" -- or is that wrong? Too simplistic -- or maybe more honest?
Also, why would anyone NEED to add "the fundamentals are sound"? It sounds like a really ideologically-loaded thing to insist to someone. I'm not privy to the culture of econo-speak every day, like some of you lucky, lucky people.
For example, see this excerpt from an article on MarketWatch:
"The Fed's move bolstered U.S. stocks. The Dow Jones Industrial ended the session up 233 points, a day after substantially paring back losses to finish modestly lower. But the blue-chip index ended the week with a decline of 1.2%
"'While we remain confident on [corporate] fundamentals and on local macroeconomic environment, we believe the uncertainties of the current international scenario should continue to keep volatility at high levels,' said UBS in an equity strategy note about Brazil.
Okay, so what are "the fundamentals," and when or why would they not be "sound"? Any examples of when the fundamentals weren't sound? What are they -- the fundamentals, that is?
-B.