Step Right Up, Place Your Bets
Guest Post by Dennis Miller at Miller On The Money
Fed Chairman Powell is caught in a trap; high inflation, interest on the national debt, a stock market bubble about to burst, while “too big to fail” banks are ready to tumble. Powell is desperately trying to manipulate interest rates to keep everything from falling apart.
Powell said Congress needs, “an adult conversation among elected officials about getting the federal government back on a sustainable fiscal path?“
No matter who is elected, forget “an adult conversation.” The cries for the Fed to “do something” will be overwhelming. No matter what Powell does, we’re all going to feel the brunt of decades of irresponsible government.
I subscribe to Richard J. Maybury’s U.S. & World Early Warning Report. Richard explains:
“The Federal Reserve says their decisions are ‘data dependent.’ The term is an admission that they do not act, they react – because they don’t know what they are doing. They are forever being blindsided by their own decisions. See it this way: they do not know what their decisions will cause until they see it.
…. Everybody is always trying to figure out what these people are afraid of at any given moment, so we can get ready for their actions against it.”
Rich Checkan at Asset Strategies Inc. tells us:
“Regardless of whether the Fed cuts, raises, or keeps rates, it doesn’t matter when bad fiscal policy in the long run continues to erode the spending power of the U.S. dollar.”
The result of “bad fiscal policy” is generally a currency and stock market collapse, hyperinflation, government default – and who knows what else.
“The people” must fend for ourselves.
Fend for ourselves??
Citizens must protect our accumulated wealth, lifestyle, and standard of living; despite what is going on around us. Using the available data, we must anticipate what the Fed will do, so we can prepare our strategy.
Friend and expert Chuck Butler constantly warns us in his letter, The Daily Pfennig. He is the best “Fed watcher” I know; his predictions have been very accurate.
DENNIS: Chuck, thank you for your time to help our readers.
I want to unpack the Maybury quote about “data dependent,” speculate on what we should expect from the Fed, and then how we can improve our odds while “fending for ourselves.”
The accuracy of government data is suspect. Maybury adds:
“I have been studying economics for a half century, and can tell you for a fact that he who trusts government statistics shall be known as a fool. Again, all governments lie, always have and probably always will.”
No he’s not, it’s all theater. TPTB are just waiting for when the script dictates for them to pull the lever and shut it all down.
Pull it
.
.
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I have already placed my bets: in Gold, a little Platinum, and Rubles.
Don’t forget lead!
Rubles??? What a cool idea. Russia is clearly on the way up so why not hitch a ride.
You live in Canada M?
Last time I shopped for Rubles by phone or email. I forget, the Canadian bank said they were all out of rubles. I thought BS. Where’d you find yours,M?
m is in Russia
Affirmative, I emigrated there 10 months ago.
As I had already mentioned once before, I just entered a 6 mo term deposit with a cool 15.6% interest rate (annualized). Even if inflation here is close to 10%, that’s a decent return.And you can take your money out at any time, under penalty of losing all accrued (term) interest.
(The funny thing is longer term deposits [than 6 mo.] offer less yield. Because they expect Russian Central Bank to lower their current 16% rate, in the medium term. But if it doesn’t get lowered, I can roll my money for similar terms, 6 months from now.)
Whateva their OWNER’s/BOSS’s say, goes.