History is repeating. Again. And it can cost you big.

Equity markets cheered the Fed's position, major stock indices surging to record highs when policymakers confirmed they were open to rate cuts. The punchbowl, Goldilocks, the Greenspan put. Nah. The last hurrah before much harsher reality set in. There is no punchbowl and curves told everyone exposing the Fed's fraud.