Perhaps you’ve heard of the way to make God laugh: tell him your plans. I suspect the treasonous fool Jerome Powell fits in that category. Behold the four charts below.
Making God Laugh
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Fed Panics. Tim Cheers.
Oh. My. God. This is so awesome.
I have spent the weekend beating myself up for not being totally short. I watched with chagrin as the weekend indications showed the Dow dropping 1100 points at the opening bell on Monday. And yet, God bless ’em, the Federal Reserve and its timorous chairman, Jerome Powell, have absolutely panicked. As described over on ZeroHedge, the measures they took include:
(more…)Federal Preserves
With the Fed’s absolutely laughable failure today, I thought it would be appropriate to do a post specifically about this malignant cesspool.
Allow me to present to you the roster of that most sinister of organizations, the Federal Reserve. Click on it so you can read it. The key point is that it has 18,000 employees. Eighteen. Thousand.
Abnormal
The darlings at the Federal Reserve did, for a little while, attempt a feeble effort at “normalization” by selling off some of their trillions of dollars of assets, but of course the weak-willed and utterly amoral Jerome Powell abandoned that effort. Take careful note of this chart. As you can see, the assets held will soon cross into new record territory.
Pivot Point
Any time I look at a long-term chart of economic data from the U.S., there seems to be an important inflection point at 1979. For example, wealth equality seemed to reach its peak then, but then it “V-bottomed” and has never looked back.
I thought of this recently when I was messing around in the economic database within SlopeCharts and looked at the debt-to-GDP ratio. Look at what was going on from about 1965 to 1979:
“We Will Use Those Tools”
Today from Fed Chairman Powell…
Powell says Fed will aggressively use QE to fight next recession
Federal Reserve Chairman Jerome Powell said Wednesday the central bank would fight the next economic downturn by buying large amounts of government debt to drive down long-term interest rates, a strategy that has been dubbed quantitative easing, or QE.
Of course they will. The fix is always in, isn’t it? Wouldn’t want to let a system and associated economy so far out on a brittle limb weighed down by exponential debt leverage go it on its own, now would we? Wouldn’t want anything like a naturally functioning economy because until an utter and complete crash and clean out, there can be no such thing. So more debt manipulation it is!
(more…)The Breaks
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