Nobel Laureate and economist Milton Friedman stated that the growth of the monetary base must be close to the historic growth of the economy and we always pay a high price for any aberrations. In his view, expressed in this speech from his Free To Choose PBS TV series, too much tightening caused the Great Depression, as the Fed shrunk the monetary base by 30% in the early 1930s. Thus the Fed did exactly the wrong thing at the wrong time.
Now the Fed is doing the extreme opposite, which Friedman also warned against in his speech.
Short-Term Window of Opportunity
Despite the long-term dangers, I am setting price alerts on bullish chart setups and looking to capitalize on what's running. I think that traders may have a short-term window to make money while the cat's away on vacation.At the time of publication, the author held no positions in any of the stocks mentioned. This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.