MCViewPoint

Opinion from a Libertarian ViewPoint

Fed+ WSJ = Drivel

Posted by Martin C. Fox on August 19, 2015

The War Wall Street Journal, as it is wont to do, gives us things to look for in the July FED meeting notes.

I don’t pretend to fully understand the goings on but I do understand BS.

Nothing has been decided,” Fed governor Jerome Powell said two weeks ago. While the Fed wants to avoid any surprises that could unsettle financial markets, it also may seek to retain flexibility and keep its options open.

They have no idea. It is anybody’s guess but they have to seem as though they are actually figuring something out.

…it wanted to see “some further improvement” in the labor market instead of simply “further improvement.”

Employment data is fake, much worse than they are telling us and it’s not getting better.

They use creative wordsmithing to hide the fact the Fed has no control and has made things worse.

Fed’s 2% annual target for more than three years and market expectations for inflation appear to be dropping. But Federal Reserve Bank of Atlanta President Dennis Lockhart told the Journal this month there are some signs that price gains “seem to be firming” in recent months.

Fed apparently doesn’t do food shopping. You want inflation?  Wait until all the fiat money the banks are holding onto gets out. Think Weimar republic.

…“indicated a readiness” to raise rates “but also expressed a willingness to wait another meeting or two for additional data.”

They have no idea. If they wait maybe a miracle will happen.

Printing money is the only thing the Fed knows. The $trillions printed so far have created housing and college debt bubbles. Again.

What to do? Keep blowing up the bubbles until they burst (again) or raise interest rates and crush the economy (again).

The WSJ expects us to buy this drivel when they know it is the equivalent of Barney Fife trying to convince us he won’t let the prisoner escape. Again.

The WSJ likes the Fed. Central banking pays for wars. War is good for business. War Is A Racket.

Yet another Goldman Sachs alumnus has just been added to the Fed board of governors. That should be a big help. Ever wonder why Lehman Brothers and Bear Stearns were made to take the gas pipe and Goldman Sachs came out smelling like rose?

I must admit www.garynorth.com is my inspiration for this installment. He occasionally provides his translation of Fed announcements. 

Be seeing you

Sorry about the messed up fonts.  A wordpress thing I can’t figure out.

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