On Monday morning, I was thumbing through the Wall Street Journal, and their featured editorial insisted that Powell heed Trump’s demands and stop raising interest rates. It was interesting to see how they described the bailout from the financial crisis of 2008:
Just look at those words – – “novel” – – “response tool” – – “stocked away for safekeeping.” Sounds sensible, prudent, logical, and conservative, doesn’t it? What a load of crap.
You would just as easily and honestly have described the actions that took place as “destroying the future in exchange for a brief period of artificial prosperity“, but when one reads anything, he must consider the source.
The two who wrote the editorial were Federal Reserve lackeys whose minds were already poisoned by the narrative trotted out by the Board of Governors. It’s just a good example that whether you’re watching Fox News, or Al Jazeera, or BBC, or reading The Guardian – – whoever is doing the writing has an agenda.