Jerome Powell says there’s no inflation, so he’s got to keep interest rates at zero. What a moron. Look over there, you corrupt, self-serving bureaucratic, billionaire-loving parasite:
Look Over There, JP
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Screaming and Shrieking
The molly-coddled, wet-nursed bulls who can’t take one iota of pain and demand a government bailout at the slightest loss are running around in a panic this morning, as they can’t understand their their stonks aren’t going up all the time like mommy promised.
Gemini
In honor of Powell doing yet another 60 Minutes spot tonight, here is as chart of the SPY fund and the total assets held by the darlings at the Federal Reserve. The correlation has changed tremendously over time, but it’s pretty clear equities have “caught up” nicely with the trillions of dollars of Fed Bux.
The Awful Experiment
Fed Targets
Of all the “help” the federal government provided last year, perhaps the most distasteful was to have gobbled up ETFs from the good, honest people at Blackstone led by this decent, honest, and generous man. Here are some of the ETFs that the Fed bought with freshly-printed dollars. I offer these as more supporting evidence about how the interest rate world is turning, because they’re all turning south as these interest-sensitive instruments erode. It doesn’t matter that they’re declining. The Fed can always print up more trillions to cover any losses.
