Loading ...
Jim Bianco Is Correct-But
While Jim Bianco in the attached piece on ZH is absolutely correct, there is something else that needs to be addressed after the immediate crisis subsides.(no idea when that will be) Jay Powell is guilty of not only being asleep at the switch, he basically “shouted fire in a crowded theater”. I have been criticizing him and the Biden administration for their bullshit narrative that the economy was hot, that inflation was out of control and the economic stats were pure fiction designed to support this ludicrous narrative. His bullshit testimony this week to Congress is what ignited the fire. The kindling and the gas were there, he lit the match. He needs to resign as soon as things quiet down.(if they ever do) https://www.zerohedge.com/markets/should-scare-hell-out-bankers-regulators-worldwide
Careful what you wish for Powell is the Good GUY here
next up Brainerd is a Full on Commie…
She is soon to be at the WH. A new FED chair would be nominated. Nothing proves Powell is “the good guy” I don’t buy into Luongo’s take. Inflation peaked last year(look it up). It isn’t acceptable but the money supply is tanking. Inflation isn’t going down if he continues to raise rates more from here. He just crashes the economy and financial system.(which is what he has done.)
Inflation Peaked ? Maybe it just stalled..officially its like 6% ( actually double that ) …Real Rates are still Negative.
Agree to disagree…Luongo has it right
I DON’T KNOW WHAT YOU ARE TALKING ABOUT CM…INFLATION IS RAMPANT AND IS GROSSLY UNDERSTATED…SEE SHADDOW INFLATION SITES.
NEVER MIND STATS…JUST GO TO THE SUPERMARKET…SHEESH
REMOVE POWELL AND YOU GET A DOVE WHO WOULD LOWER RATES TO ZERO = DOLLAR CRASH HYPERINFLATION
THAT WOULD BE GREAT FOR GOLD AND YOUR BOOK ON PAPER…BUT NOT FOR ALL OF US !
It took 12-18 months for inflation to peak after all the covid money was created. It always rises and falls with lags. It is coming downfrom the highs but it isn’t going away, it will gradually come down but continuing to raise rates while also doing QT is crashing the economy.
I am not the only one. This just out from ZH. “Translation: the Fed’s hiking cycle is dead and buried, and here comes the next round of massive liquidity injections. It also means that the Fed, Treasury and FDIC have just experienced the most devastating humiliation in recent history – just 4 days ago Powell was telling Congress he could hike 50bps and here we are now using taxpayer funds to bail out banks that have collapsed because they couldn’t even handle 4.75% and somehow the Fed has no idea!” And “As we said earlier on twitter, “this is a regulatory failure of historic proportions by both the Fed and Treasury. Instead of preventing billions in losses, the Fed was worrying about board diversity and Yellen was flying to Ukraine. Everyone should be sacked immediately.”