by Craig Hemke, Sprott Money:

In our 2022 macrocast, it was stated that the only thing predictable about the year ahead would be its unpredictable nature and wild volatility. Well, at least we got that right.

So, one year ends and a new year begins. The year 2022 unfolded in a manner similar to years past when The Fed was allowed to pretend and promote the idea of responsibility, prudence and balance sheet reduction. You might have thought that, collectively, the markets would have learned by now to see through this nonsense and, in a way, it appears they have.