"...The Board of Governors of the Federal Reserve System voted unanimously to raise the interest rate paid on required and excess reserve balances to 0.50 percent, effective December 17, 2015."
"ARGENTINA ENDS FX CONTROLS: FINANCE MINISTER PRAT-GAY
ARGENTINA LIFTS CURRENCY CONTROLS AS VALUE OF PESO SEEN FALLING
For those interested in a case study of what happens after a dramatic devaluation, you now have front row seats for what is likely to be a 25-30% peso plunge. “It’s not a process devoid of risk but there’s also significant risk in doing this in several installments," Goldman's Alberto Ramos says."
Grab the popcorn."
Greensboro's News and Record, owned by Warren Buffett;
"Stocks jump after Fed finally raises interest rates
NEW YORK (AP) -- Stocks climbed Wednesday after the Federal Reserve raised interest rates, a long-expected vote of confidence in the U.S. economy. At the same time investors were encouraged that the Fed emphasized that further increases will be gradual.
...The market finished higher for the third day in a row, something that hadn't happened in almost two months.
Regular readers of our local paper of record
are kept as dumb as a sack of rocks
...Paul Christopher, head global market strategist at Wells Fargo Investment Institute, said investors think big dividend payers might pay even more out to shareholders and buy back more stock because as interest rates rise, they'll be reluctant to spend a lot of money on equipment.
Warren Buffett is Wells Fargo's largest shareholder
...Stephen Freedman, senior investment strategist at UBS Wealth Management Americas, said the Fed is "taking off the Band-Aid" because the economy has healed substantially."
If you believe what you're told,
all is well.