Stock Market Cuts His Buddy Down
We used to play for silver Now we play for life One's for sport and one's for blood
https://www.zerohedge.com/markets/systems-self-destruct-sequence-cannot-be-turned—-Charles Hughes Smith
The market has no internal, intrinsic responsibility for the consequences of narrow self-interest nor any mechanism that looks beyond the present. The market is blind to future consequences, and imposes no responsibility to do so on any participant.
The only possible result of this system is self-destruction. Consider the Great Pacific Garbage Gyre, the poetic name for a floating mass of plastic and other waste generated by the "growth at any cost" global economy roughly the size of Texas. (See chart below.) This is not the only garbage patch in the planet's oceans; it's merely one of the biggest.
Gregory Mannarino https://substack.com/home/post/p-154142547
A show for the public is being set up… A fake “battle” between the Federal Reserve and Trump.
Trump is an outspoken advocate for low, and even negative rates. We know this first from his last Presidency when he called the Fed. “Boneheads” for not lowering rates to zero and even negative. More recently, during the campaign, he promised that if he was “elected” he would lower rates. (No president can lower rates. Presidents do not possess a printing press for dollars/central bank issued notes, nor can a President buy debt). With that, a President can work with a central bank to lower rates.
Here is the set up. The economic news will continue to be bad, and Trump is going to call on the Fed. To lower rates, (a campaign promise). The Fed. Will pretend to push-back saying, “we will lower rates as appropriate.” Of course the Fed. wants to lower rates! As every central bank does, as doing so allows them to inflate, which is the single goal of every central bank.
Eggy in the White House would be in improvement. At least they work well together. Throw in a few more good bands for backup. The White House is big.
Every government that can inflate does so. France with 68 million people has three times the debt of the continent of Africa which has 1.5 billion people. No country will ever repay its debt.
Under Bidenomics, government spending is 26% of GDP and the only reason the US has avoided a serious recession is this spending and a huge increase in government employment which has kept unemployment down along with total fabrication of the monthly jobs numbers.
More than 20,000 people work for the Federal Reserve including about 1,000 PhD economists, not to mention all the university and think tank economists who live on Fed grants and consulting contracts. This is a massive waste of resources on an institution that has no accountability to anyone and produces nothing of value.
The Fed should be abolished and the market should set interest rates.