Something is not right, and the drastically divergent messages from Powell and his cronies at the Fed over the last month and a half con firm this suspicion. It does remind me of September 2019 when the repo market revealed the underlying mechanisms within the financial system were malfunctioning and were about to lead to another massive financial crisis. Powell restarted QE and “luckily” the covid scamdemic was rolled out, so Powell and and our corrupt political class could pump trillions into the system and keep it alive.
Powell and his fellow tough guys at the Fed had increased rates to 5.3% and have talked tough about keeping rates up until inflation got back to their 2% target. With GDP supposedly accelerating at 5.2%, unemployment still near all-time lows, and corporate profits still booming, there should be no fear about rates being too high by Powell and his sycophants. But suddenly this week Powell and these economic “rocket scientists” now are saying they will be cutting rates soon and more than anyone expected.
The Fed Since November 1st:
1. Nov. 1: Getting inflation to 2% “has a long way to go”
2. Nov. 21: “No indication of rate cuts at last meeting”
3. Dec. 1: Talks about rate cuts are “premature”
4. Dec. 1: “We are prepared to tighten policy further” if needed
5. Dec. 13: Rates…
Remember the rules- when (not if) collapse happens- DO NOT help those who contributed to it. Your NPR listening cat lady neighbor is beyond help, anyway.
An election is coming and they have to be able to say look how we cut inflation!
Could we stop with the unemployment numbers! I would bet that the real number is around 30%. The housing projects are full of people that could be and should be working. We don’t need any immigration until. The projects are empty. They live better than working people and turn out angry young thugs as their main product.
Return to the gold backed dollar. End fractional reserve banking. Dismantle the federal reserve.