War Plan Red
A historic bull market in hubris.
The Fed’s Preferred Inflation Target
This part sort of jumped out at me, from former NY Fed guy Joseph Wang (who’s cool.)
The Fed works for Wall Street. That's their constituency. Always has been.
Everything else is gaslighting.
“Consumer sentiment confirmed its early-month reading, rising for the fifth consecutive month and reaching its highest value since April 2024. Buying conditions exhibited a particularly strong 32% improvement, primarily due to a surge in consumers expecting future price increases for large purchases. The expectations index continued the post-election re-calibration that began last month, climbing for Republicans and declining for Democrats in December. Importantly, for Independents, expectations were essentially unchanged from the past month or so for personal finances, short-run business conditions, and long-run business conditions. Broadly speaking, consumers believe that the economy has improved considerably as inflation has slowed, but they do not feel that they are thriving; sentiment is currently about midway between the all-time low reached in June 2022 and pre-pandemic readings.”
“The current level of 74.0 is below the index's level at the start of 5 of the 6 recessions since the index's inception.”
Justin Sun eating $6.2 million banana. I think this summarizes the zeitgeist.
Note that I will probably not be posting again for a couple weeks. Plenty of things to chew on in the archives if you’re bored.
Merry Christmas, Happy Hanukkah, and Godspeed everyone (including the atheists and agnostics!)
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