Re <<And Biden, pfft, he moves his lips when he reads.>>
come on, not yet 2022 :0) save energy.
Re <<IOW, we are screwed. Policymakers have no clue.>>
Let me fix your sentence for you,
Policymakers know exactly what they are doing, and why, and that is why we are screwed better?
In the meantime from Martin, he might be going off a bit, and if so, likely because he knows
ask-socrates.com
Blog
Major central banks are meeting this week where the press assumes this is to assess risks from inflation and the new Omicron variant in the face of reducing emergency measures that have now been in place for nearly two years. The Federal Reserve convened for its two-day meeting concluding new monetary policy statements today. The European Central Bank and the Bank of England convene on Thursday, and the Bank of Japan on Friday. These coordinated sessions are not as harmonious as the press portrays.
It is true that all are facing the same dilemma of inflation and the crisis of low-interest rates combined with central bank asset purchases in the face of a collapse in demand for sovereign debt. They will not publicly discuss this and the press does not provide investigative analysis - just report the obvious.
The entire Keynesian Economic Model has collapsed. When it was first proposed, aside from also using the tax code to lower taxes to stimulate which governments hate to ever give back any money, the problem was that back then governments were NOT the biggest borrower in the market. Raising interest rates to reduce demand was seen ONLY from the consumer perspective. It now increases the deficits for raising interest rates will not cause politicians to spend less. So the whole model has collapsed and this is what central banks will NEVER say publicly. Yet this is the real crisis! The goldbugs always bash the Fed and ignore fiscal policy entirely. The Fed cannot control the spending of Congress and manipulating interest rates has no impact on any government other than state and local.
The crisis here is that the ECB is trapped and if it raises inflation, they will not just destroy their own portfolio putting at risk their own solvency, but they will blow up the government budgets throughout Europe. This is what the Great Reset is all about. I have been on the opposite side of the table from Schwab. He has been pushing his Marxist agenda and has strategically infiltrated every key position to force his agenda through.
When he portrays that you will own nothing and be happy, it is really just a front. The governments have lost it. They can no longer continue this socialist agenda borrowing every year with no intention of paying anything back. So in saying they will forgive all your debts, they are making it sound that they are doing this for you when in fact the government must default. The ECB still has everything they ever bought and has to roll the previous QE positions in addition to adding more. The Federal Reserve never went NEGATIVE so it is NOT in the same position. He has allowed past bond purchases to mature and not rolled them over.
So while there are people still trashing the dollar and focusing on the US debt, they are oblivious to the facts outside the USA. The Fed is not trapped and it can reduce its QE without imploding the economy. That is not true in Europe or Japan. Europe is going insane with COVID to crush its economy and prevent civil uprisings for they are fully on board with Schwab. Secret deals were cut with the vaccines companies who understand that they are being used for political purposes. The deals struck are being hidden by the government for the entire purpose is to suppress the people to make the transition to the Great Reset.
Inflation and labor markets have been seriously disrupted and the link between the virus and economic outlook varies with Europe in full possession of Schwab and is going for 1984. This meeting of central bankers is across the major economies is anything but unified. There is a sharp divide between central banks because of this political agendas differ. This goes beyond what the press is reporting insofar as their management of the coming stage of the pandemic.
The Bank of England has been more inclined to raise interest rates because of inflation, but the ECB has been groveling on its needs not to. They are now claiming Omicron's fast spread will require more lockdowns and restrictions so raising rates should not be considered. The ECB has no intention of raising rates and cannot stop buying sovereign debt for they have destroyed the European bonds market and economy. The Bank of Japan was to reduce its bond purchases at least on the margin and they too are not likely to raise rates where inflation has been less driven outside energy.
Consequently, the Fed is the odd-man-out. The Fed is not inclined to sell the country out for Schwab and there is questionable support for the Biden Agenda. The Democrats are desperate to blame Trump for what they insist on calling an insurrection with arms, and they are doing this solely to make it the issue for the 2022 election in hopes that this will inspire Democrats to vote for them ignoring the economic and political; agenda along with the rising fuel costs and inflation due to shortages of everything including truth. |
