Some additional thoughts after my post yesterday about the FED almost always getting it wrong. Despite the fact that trying to manage the economy and monetary policy is hard to do, the main reason the FED almost always gets it wrong, is that they have political and other agendas that they are trying to accomplish that don’t necessarily correlate with what they are trying to do as far as either stopping inflation or keeping unemployment low or any other stated goal. We know they almost always goose the economy in presidential election years by lowering interest rates for example. This time around I believe there was a nefarious plan to first purposely allow inflation to run hot by not taking away the punchbowl last year, as I and many others suggested and warned, and then went bat shit crazy in aggressively raising interest rates at the fastest, steepest pace in history. The reason, they wanted a quick, sharp drop in not only asset prices to cool down inflation, which they have largely achieved, but they also wanted another crisis, like Lehman Brothers, Bear Stearns etc, because they need cover for they and the administration to introduce a CBDC. Voila, FTX and the coming crypto collapse. No one is going to go along with the implementation of a CBDC if things are fine or even just a little bit bad. They want a temporary collapse in GDP and employment to pave the way for their CBDC and calls for the need to implement UBI. In fact, as much as the govt. is highly incompetent in administering programs, I believe they purposely slow walked the stimulus checks to people over a few months at a time during Covid because one of the arguments for a CBDC is going to be the speed and efficiency that the FED can get the money to people right away. Of course this is nonsense, since most people have a paycheck or Social Security or a pension direct deposited now, so that is a false argument but one you will hear none the less.