The Fed Will Hike Until Something Breaks? Where have you been?
The Fed broke the American economy years ago.
When you’re in a hole, quit digging: U.S. Financial Accounts Show More Borrowing, Including Every Major Sector. Not surprising, since everything the Fed has done for most of this century has been designed to get everyone into more nonproductive debt.
I believe I’ve heard the phrase, “The Fed Will Hike Until Something Breaks” roughly 8 million times in the past couple months. Sounds a lot like, “The beatings will continue until morale improves.”
Anyway, someone should tell our clueless millionaire FOMC that they’ve already broken many things, especially the American middle-class:
I heard a smart guy talking today about the “hawkish” ECB press release, saying that “they mean business now” (but they "left themselves a loophole”!)
I’m sorry - possibly hiking from -0.5% to -0.25% a month from now while Eurozone PPI is 37.2% is serious? Do you people even hear yourselves?
The ECB pundits are just like the ones talking all year about a “hawkish Fed.” Heck, the Fed bid on $3.6 billion of T-Bills on Thursday! It’s a joke. (I know, the June 15th QT is coming. Not sure what year, but any day now. That’ll be just another dog and pony show.)
“We should be happier to have a job than to have our savings protected.”
- Christine Lagarde, October 2019
Come on, Marie.
As I wrote at the time: “They are not even pretending anymore. They intend to destroy the currencies, to try to save themselves. We've been warned.”
Here’s 51 years of 30-year mortgage rates. Spot the aberration.
30-year mortgage rates only went below where they are now (at least since 1971) in 2009. What else happened in 2009? The Fed started buying monetizing massive amounts of MBS.
Get these clowns out of price-fixing, market manipulation, and picking winners and losers!
To add insult to injury, can you believe scumbag Citadel Ben has the nerve to continue to opine in public? No shame at all with this guy:
Bernanke Says Fed Can Sidestep Big Recession in Inflation Fight
Jeff Druckenmiller at the Sohn Conference the other day.
No one ever said "the Fed will experiment with ZIRP and QE until the top 1% own more than the 50th to 90th percentile."
Rudy do you ever get tired of spotlighting corruption and deceit? There has to be something that drives you to do this - Mark Cohodes talks about what drives his relentlessness and I'm wondering what drives yours.