Beware the Hidden MessageMay 04, 2010 Posted by: Joe Morgan, CFA
It's just a jump to the left
And then a step to the right
With your hands on your hips
You bring your knees in tight
But it's the pelvic thrust
That really drives you insane
Let's do the Time Warp again!
- Riff Raff from the Rocky Horror Picture Show
Howdy and salutations from your future self!
I wanted to write to test the new iSend software we just installed, which allows the user to send a fax back in time. (Yes, in addition to a fax machine, we also still have a VCR, a gasoline-powered truck, and a cell phone!)
Going for maximum effect, I am sending this note to myself some 20 years past. Incredible though it may seem, this is not a joke taken from an episode of The Office, but is truly a wonder in time travel.
To prove this is from the future, I hope you will analyze the writing style and, of course, recognize the song quote above from one of your favorite movies. Who else knows you were an RHPS fanatic?
Now, among the several guidelines instituted by the Department of Time Bending Message Transference is the rule that I cannot communicate any information useful for speculation in the markets or information that will potentially disrupt life today. We are pretty happy here and we want to keep it that way!
I guess that's good news to you with all the uncertainty that existed in 2010.
Why, just take a look at the Federal Reserve's Open Market Committee statement released last week (your time!). Once again, phrasing was added to Thomas Hoenig's dissenting statement. This time, it was suggested that retaining the phrase "extended period" with regard to keeping interest rates low could limit "the Committee's flexibility to begin raising rates modestly."
Now, I don't have to tell you how thoroughly this statement is scrutinized before being released to the public and that there is nothing left to chance in its phrasing. So, what do you think this means?
I know you currently believe the Fed will hold off on increasing rates until at least the fourth quarter if not 2011, but don't turn a blind eye towards such signals — they may...Read More