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.
Good summary of why the housing market is frozen - (almost every seller is paying a low interest rate and every buyer will be paying a massive one)
https://youtu.be/T8J-IjF8IsM
J Powell is a fucking idiot. That is all.
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.