Do you need more proof that the Federal Reserve and every central bank on the planet have only one purpose? To enrich their owners and impoverish the rest of us. This is why I smile every time I read a story about a banker jumping off a building. Make me smile Jamie, Jon and Lloyd.
Gotta say, ‘Jump you fuckers’ seems to enter my thought stream automatically. Then someone else will say, ‘how sad….’, and well I just can’t get there.
It looks like I am back just in time to comment on the beginnings of the next deflationary scare. I am no longer an ultimate doomer — we are most likely on the edge of a serious down wave, but not THE down wave. Not yet my friends — perhaps not in my remaining lifetime.
Bernanke bought us some time. Love him or hate him, that is what he did. He pulled it off, to some degree that remains to be seen. As I have discussed here before, he did it by replacing money that was in the process of vaporizing — so little inflation to show for all of QE up to now. However, the Fed has gotten cocky, the banks are feeling fat, and we are set up for a NASTY recession that Yellen will have trouble buying our way out of.
As always, I recommend keeping your eye on long-term interest rates — the key to solvency for various levels of the economy. In the meantime, society as we know it continues, while the edges of geo-politics fray…
@Bob: Enjoy your time left with the debt is a good thing. When you can’t get any more water from the well, drink dirt.
I say BUY MORE AMMO