Faith in the competency of central banks should have ended when this statement was proven to be completely and utterly wrong: ‘We do not expect significant spillovers from the subprime market to the rest of the economy.’ Chairman Ben Bernanke, US Federal Reserve, May 2007 Those who trusted Bernanke (the most powerful banker in the […]
The feds and the educated elite are putting on such a great show…such a rollicking, frolicking display; every day is a laugh fest! A great Carnival of Claptrap. A Jamboree of Jackassery.
The first six months of the year were almost unbelievably bad. Stocks and bonds went down. Cryptos vanished. A traditional, balanced portfolio — 60% stocks, 40% bonds — had never had such a bad time of it. And a recession began.
What now? Uncontrolled inflation? Or a hard landing? Which will it be? Our guess: both. A hard landing…and then uncontrolled inflation.
Caesar was an able, energetic commander at the head of a victorious army. The FBI is very different; it hasn’t exactly covered itself in glory over the last few years.
What if this actually weakens the US economy…frightens foreigners…and causes potential enemies to ‘gun up’ themselves? Terrorists…Chinese…Russians — aren’t we pushing them to find new forms of money…new weapons…new friends?
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