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Welcome to the "Wolf Creek Pass" School of Monetary Policy

I don’t know if you folks remember that hit ditty: a humorous tune about two truckers attempting to manhandle an out-of-control 1948 Peterbilt down the “other side” of Wolf Creek Pass – a death-taunting section of U.S. Highway 160 where the elevation drops a hefty 5,000 feet in a relatively short distance.

The song’s two characters – a truck driver named Earl and his brother, who’s his partner as well as the song’s narrator – are taking a flatbed load of chickens on a speedy trip down this winding, two-lane Colorado highway. After the narrator gives Earl the above-mentioned warning, the ancient semi’s brakes fail.

From there on down, the narrator tells us that the brothers’ trip “just wasn’t real pretty.” The truck careened around hairpins and switchbacks, and then raced at an uncontrolled 110 mph toward a tunnel with “clearance to the 12-foot line” – with chicken crates sadly “stacked to 13-9.”

The drivers and the runaway Peterbilt “went down and around and around and down ’til we run outta ground at the edge of town… and bashed into the side of the feed store – in downtown Pagosa Springs.”

Believe it or not, I started thinking about this funny old country tune the other night – right after I’d read a piece about QE3 and the U.S. Federal Reserve.

As zany as it first sounds, the parallels are striking.

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Michael A. Robinson- Money Morning - Only the News You Can Profit From.

Author Image for Michael A. RobinsonMichael A. Robinson
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Michael A. Robinson is a 34-year Silicon Valley veteran and one of the top technology financial analysts working today.

His work as a consultant, senior advisor and board member for Silicon Valley venture capital firms has placed him at the center of several major tech innovations including robotics used to revolutionize the auto industry... the $160 billion a year "Cloud Computing" industry... and the latest cyber military technologies.

He's also a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. It's no wonder that Silicon Valley defense publications vie for Michael's analysis. He's worked for Defense Media Network and Signal Magazine, as well as The New York Times, American Enterprise, and The Wall Street Journal.

His status as a leading tech analyst has garnered him rave reviews, too.

As editor of the financial newsletter American Wealth Underground, he amassed an amazing track record. The first analyst to uncover the rare earth mineral crisis, he amassed cumulative gains of 990% for his readers in just 16 months. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies - ones that have the power to sweep across the globe and change the very fabric of our lives - and profit opportunities they give rise to. He also explores "what's next" in the tech investing world at Strategic Tech Investor.com

Michael has an honors economics degree from the University of Missouri at Columbia. He's also a registered NRA Triple Distinguished Expert in shotgun, pistol, and rifle and one heck of a blues guitarist.