Of course, nobody will volunteer to take any portion of the blame.

Yet fingers will most assuredly be pointing.

• Trump will blame the Fed for hiking too fast.
• The Fed will blame Trump for starting a trade war.

Scarcely anyone will blame fractional reserve lending, lack of a gold standard, Congressional stupidity, or central bank cheap money and their bubble blowing tactics.

It is a given that mainstream media will not remotely come close to pointing a finger in the proper direction.

Mike “Mish” Shedlock