He's not an idiot. He knows exactly what the consequences of his actions are. He lowered interest rates at a time that they normally wouldn't purely to help the Biden administration, and now they're doing the opposite to Trump because they want to hurt his administration.
Chris Martenson at Peak Prosperity likes to call Powell and Yellen "monetary vandals."
Honestly i think it’s far more nefarious than this. The fact is this is just a precursor of the massive housing surplus that will happen when boomers start passing away. Those 1 million dollar (overvalued) homes won’t sell and this will be used used as an excuse to mass immigrate again and those immigrants will receive low interest loans from the government to buy houses and “save” the market. Create the crisis and sell the solution.
The last time we gave browns mortgages to buy houses resulted in the Global Financial Crisis of 2008. Those toxic loans are still on the Fed's books, despite then-Chairman Ben Bernanke promising it's a "temporary" emergency measure and it would be sold on the open market "eventually".
don't knock the guy, he has no good option. they're stuck. they cant inflate further because it fucks with the social contract too much, and they can't inflate less because they need to pay the handouts (to both lower and upper strata), or they get a revolution.
the actual resource cost of bribing useless parasites into not blowing up moden society exceeds what said society can produce to such an extent that even borrowing against its kids' future isnt enough.
The Fed could start by ceasing their bailout programs of banks, MMFs, and even non-financial corporate entities. Currently we have a moral hazard where certain people can gamble with the economy and keep their jobs regardless of what happens, all in the name of "stability."
The gambling with other people’s money needs to stop. Honestly, with some of the moves these financial institutions make, I’d rather them play in a rigged mob casino because at least there would be a chance of winning something.
J Powell is a fucking idiot. That is all.
He's not an idiot. He knows exactly what the consequences of his actions are. He lowered interest rates at a time that they normally wouldn't purely to help the Biden administration, and now they're doing the opposite to Trump because they want to hurt his administration.
Chris Martenson at Peak Prosperity likes to call Powell and Yellen "monetary vandals."
I think it's an apt description.
Honestly i think it’s far more nefarious than this. The fact is this is just a precursor of the massive housing surplus that will happen when boomers start passing away. Those 1 million dollar (overvalued) homes won’t sell and this will be used used as an excuse to mass immigrate again and those immigrants will receive low interest loans from the government to buy houses and “save” the market. Create the crisis and sell the solution.
The last time we gave browns mortgages to buy houses resulted in the Global Financial Crisis of 2008. Those toxic loans are still on the Fed's books, despite then-Chairman Ben Bernanke promising it's a "temporary" emergency measure and it would be sold on the open market "eventually".
don't knock the guy, he has no good option. they're stuck. they cant inflate further because it fucks with the social contract too much, and they can't inflate less because they need to pay the handouts (to both lower and upper strata), or they get a revolution.
the actual resource cost of bribing useless parasites into not blowing up moden society exceeds what said society can produce to such an extent that even borrowing against its kids' future isnt enough.
there is no way to make this work.
The Fed could start by ceasing their bailout programs of banks, MMFs, and even non-financial corporate entities. Currently we have a moral hazard where certain people can gamble with the economy and keep their jobs regardless of what happens, all in the name of "stability."
The gambling with other people’s money needs to stop. Honestly, with some of the moves these financial institutions make, I’d rather them play in a rigged mob casino because at least there would be a chance of winning something.
that goes into my "upper strata handout" bin.
they can't stop funding parasites or they will get overthrown.
I don't know man, bullets are relatively cheap, especially when you buy at the scale the federal government would need to buy to put down the leeches.
There's a way to make it work. It's just not very nice, and involves a mountain of corpses.