“I Have Bills to Pay,” Or Why the Fed Really Cut Interest Rates
What if we could have eavesdropped on a conversation between Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen? It might have gone as follows....
What if we could have eavesdropped on a conversation between Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen? It might have gone as follows....
Home prices continue to rise as the government tries to further intervene into the housing markets, all in the name of the “American Dream.” However, remember that these massive increases in housing prices began when the government decided to make housing more “affordable.”
As monetary authorities continue to inflate the money supply, they inflict more and more damage upon the currency. Unfortunately, as the economy falters under the inflationary regime, the “solution” always is to ramp up inflation.
Governing elites believe that the fiat money system is the height of “sophisticated” finance. In reality, fiat money sucks the life out of the economy like a vampire.
Watching the Federal Reserve's inflationary “strategy” of enacting repeated “stimulus” and creating asset bubbles, one is reminded of the “Cargo Cult” in the South Pacific after the end of World War II.
The more things change, the more they remain the same. In our present age of inflation, we are reminded of how Diocletian and other Roman authorities ordered price controls and other measures to hold down prices. None of these edicts were successful in bringing down prices.
If the government really believed you would be better off and more prosperous with their policies, they would encourage free speech because everyone would value their welfare improvements. They need to limit free speech because they know they will make you poorer.
The Federal Reserve seems to have finally committed to, but has not yet begun its “rate cutting cycle” of lower interest rates, specifically the Federal Funds Rate, or policy rate.
Harris’ economic plan is not aiming to reduce inflation but to perpetuate it. Indeed, this economic policy mirrors Argentina’s 21st-century socialism, and it threatens the US dollar’s status as the world’s reserve currency.
A few years ago, the leftist publication The Intercept claimed that inflation only hurts the “one percent,” but is “good” for everyone else. The truth is much different, as the Fed’s inflationary policies have benefited the politically-connected crony class.