Powell Wednesday: We're not in a recession NOW
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POWELL: “NO RECESSION”
Tag: Jerome Powell is a wimp
America’s Most Dangerous Unknown Man
Guest Post by Ron Paul
The US Senate will soon vote on Federal Reserve Chairman Jerome Powell’s nomination to a second term. One of the senators opposing Powell is Elizabeth Warren. I don’t often agree with Senator Warren, but I do agree with her assessment that Powell is “dangerous.” However, Warren actually doesn’t understand what makes Powell, or any Fed chairman, intrinsically dangerous to liberty and prosperity.
Warren thinks Powell is dangerous because she thinks he will not be supportive enough of imposing her desired new regulations on banks and other financial institutions. Senator Warren, like most progressives, clings to a fantastical notion that regulations benefit workers, consumers, and small businesses. The truth is most regulations benefit large corporations by imposing costs that big businesses can easily absorb, but that their smaller competitors cannot.
FOURTH TURNING 2022 – BAD MOON RISING (PART 2)
In Part 1 of this article I laid out how the global elite have used this covid flu to manipulate the weak minded into a fear induced mass psychosis as a key element in their Great Reset plan to control the world and keep you technologically enslaved under lock and key. Now I will try to decipher how this mass hysteria might play out over the course of 2022 and beyond.
“Americans today fear that linearism (alias the American Dream) has run its course. Many would welcome some enlightenment about history’s patterns and rhythms, but today’s intellectual elites offer little that’s useful. Caught between the entropy of the chaoticists and the hubris of the linearists, the American people have lost their moorings.” – Strauss & Howe – The Fourth Turning
“The most effective way to destroy people is to deny and obliterate their own understanding of their history.” ― George Orwell
The American Dream, where all Americans, no matter the circumstances of their birth, had a legitimate opportunity to live a better life than their parents, based upon their own intelligence, work ethic, and good fortune, is an illusion in today’s world. The ruling elite have stolen the wealth of the nation and its citizens. This was not an accident, but a plan implemented over many decades, accelerating after Nixon closed the gold window and opened the door to unlimited amounts of debt being created out of thin air and backed by nothing.
Continue reading “FOURTH TURNING 2022 – BAD MOON RISING (PART 2)”
Here’s Why We Desperately Need a One-Handed Economist
From Birch Gold Group
Speaking at a meeting of central bankers at Jackson Hole, Wyoming, Federal Reserve Chairman Jerome Powell said a lot of words without exactly saying anything.
The Fed “doublespeak” was picked up by the American Institute for Economic Research (AIER):
What they got is what Harry Truman complained about when hearing from his economic advisors: “On the one hand, this, but on the other hand, that.” Truman said that he desperately wanted a one-handed economist.
It’s easy to see Truman’s point if you listened to the Jackson Hole speech. (Don’t worry, we did so you don’t have to.)
Continue reading “Here’s Why We Desperately Need a One-Handed Economist”
PERFECT STORMS
Guest Post by John Mauldin
Having been Puerto Rico residents for almost three years now, Shane and I have learned a few things about living in the tropics. In Dallas, we didn’t often think about hurricanes, though we did have tornadoes and severe thunderstorms. Ditto for earthquakes. North Texas is pretty stable, geologically speaking.
Now hurricanes and earthquakes are part of normal life. We expect them to happen, and indeed they have happened since we came here. They weren’t too bad but could have been much worse. So, we have plans and precautions to deal with them, as does everyone else here. Last year, a hurricane came through and decided to drench the eastern part of the island and simply miss us. We had no wind or rain. But we were prepared, as were our neighbors. It’s just part of life. But then that same storm tragically devastated the Bahamas.
I was thinking about this in connection with my Sandpile letter, which we again reposted recently. Like those fingers of instability, our ability to predict the weather is far less than perfect. Technology can tell us when hurricanes/tropical storms are out there and the general direction they are moving. It’s still far from certain exactly where they will make landfall, and how strong they will be at the time. They can leave one corner of this small island devastated and the rest untouched.
So, the prudent course is to prepare for the worst, hope for the best—a trite saying but in this case it’s true. We would rather be overprepared than caught by surprise.
Investors face hurricanes, too, with even more uncertainty. The storm could hit someone else, or go back out to sea and dissipate. Do you bet everything that it will? I don’t.
Right now, several potentially big storms are brewing. They could be minor annoyances or catastrophic disasters, or anywhere in between. I truly hope they all resolve with minimal fuss. But they may not. They could even combine into a perfect storm of even greater magnitude… so now is the time to prepare.
THERE ARE NO SOLUTIONS (PART TWO)
In Part One of this article I described the circumstances which make it impossible to change the system from within. The past year should put the final nail in that coffin. Now on to what is in our control.
“Experts agree that it is only a matter of time before one of these epidemics becomes global—a pandemic with potentially catastrophic consequences.” – Center for Health Security – October 2019
The boldness and extremeness of their actions since the Fall of 2019 seem out of character with their usual shrouded machinations behind the scenes, where the public is ignorant of their actions. Something broke within the debt saturated financial system and Powell was ordered to restart QE and start reducing interest rates to fend off disaster. In a fascinating coincidence, Event 201, a pandemic simulation, was conducted on October 18 in New York City, jointly run by The Johns Hopkins Center for Health Security, World Economic Forum, and Bill & Melinda Gates Foundation. The four-year coup attempt by the Deep State against Trump was floundering, with their pathetic last gasp impeachment farce in January 2020.
The weaponization of the Chinese bio-weapon lab virus into a global pandemic narrative accomplished numerous objectives for the Deep State. It provided cover for the Federal Reserve to funnel trillions into the pockets of the criminal Wall Street cabal and their billionaire clientele. It provided the means for Democrat governors and mayors to use it as an excuse to allow mass mail-in voting in order to fraudulently steal the election. Destroying the economy through unnecessary worthless lockdowns and blaming it on Trump gave the Democrats a further impetus to steal the election.
THIS WAS A TEST, AND WE FAILED
“The Truth, when you finally chase it down, is almost always far worse than your darkest visions and fears.” ~ Hunter S. Thompson
I think Hunter S. Thompson is being proven right by revelations becoming obvious daily. I’m a natural skeptic, so I rarely believe anything I’m told without verifying facts, analyzing data and understanding the motivation of those making declarations and assertions. For most of my life I thought I generally understood how the world worked.
Doubts about my understanding began to creep into my mind between 2000 and 2008, as I watched my government cover-up the truth about 9-11, use it to institute an Orwellian surveillance state through the Patriot Act, invade Iraq based upon a false narrative of WMD and links to 9/11, and watching those controlling the Federal Reserve create the dot.com bubble and follow it up with a housing bubble – all done to benefit Wall Street banks, billionaires, connected politicians, and Deep State apparatchiks.
Yellen Challenges Powell’s Unlimited Control of the Markets
From Birch Gold Group
The Fed attempts to maintain control of various rates (including inflation, unemployment and long-term interest rates) through its monetary policy decisions. In the past, poor choices arguably led to both the dot-com bubble and the Great Recession. But that’s old news.
Today, Fed Chairman Jerome Powell is trying to get the U.S. economy moving. A combination of near-zero interest rates and “quantitative easing,” which means buying bonds directly. Both these interventions increase the amount of money in circulation. Ultimately, this would lead to inflation, as you’d expect.
Continue reading “Yellen Challenges Powell’s Unlimited Control of the Markets”
The Hazards of 4 More Years of Jerome Powell
From Birch Gold Group
Whether Trump or Biden is elected in November, they will have to decide whether or not to appoint Federal Reserve Chair Jerome Powell to another term.
And if he is appointed again, the way he continues to handle the continuing ripple effects of the COVID-19 “shutdown” economy will be critical.
So let’s examine why the decision to reappoint him is important, then take a quick tour of some of Powell’s recent performance.
A piece from Paul R. La Monica provides a take on the importance of Powell’s re-appointment, beginning with the response to the market’s plummet earlier this year:
Continue reading “The Hazards of 4 More Years of Jerome Powell”
THE ONLY THING SYSTEMATIC IS THE DESTRUCTION OF AMERICA – PART 2
In Part 1 of this article I detailed the purposeful systematic destruction of global economies, with a bad flu as the catalyst, as part of a plan by the Davos elite to reconstruct the world in a manner most beneficial to these evil men and detrimental to you and me. The fight remains to be fought. Orwell’s worst fears are coming to fruition.
The masking of the masses has been, and continues to be, about despotic politicians and arrogant bureaucrats demanding obedience as a mechanism to judge their ability to shame the masses into submission. It has nothing to do with health or protecting others. The health “experts” like Fauci, the Surgeon General and CDC director actually told the truth back in March when they told everyone masks didn’t protect you from viruses. When the powers that be decided this flu needed to be hyped and blown out of all proportion, mask wearing was used as the symbol of fear necessary to panic the public into submission.
Continue reading “THE ONLY THING SYSTEMATIC IS THE DESTRUCTION OF AMERICA – PART 2”
THE ONLY THING SYSTEMATIC IS THE DESTRUCTION OF AMERICA
“It is difficult to get a man to understand something, when his salary depends upon his not understanding it!” – Upton Sinclair
Upton Sinclair was describing willful ignorance based upon who butters your bread. The rampant corruption of our society, as power has been consolidated into fewer and fewer hands, has resulted in our political, financial, cultural and economic systems being captured by a billionaire class who use their wealth to dictate the path we are forced to follow – or lose everything.
The sociopath class include the Silicon Valley social media titans, the billionaires running the six mainstream media companies, the rogue billionaires like Soros and Bloomberg who fund chaos and foment insurrection, the Deep State surveillance agency operatives like Clapper, Brennan, Comey and Mueller doing the bidding of the oligarchy, Wall Street criminals like Dimon, Paulson, and Blankfein doing god’s work, and last but certainly not least – Powell, Yellen, Bernanke and slimy Kashkari priming the pump for the never ending systematic pillaging of the nation’s wealth.
Continue reading “THE ONLY THING SYSTEMATIC IS THE DESTRUCTION OF AMERICA”
The Fed Just Announced a Dramatic Shift on Inflation Policy
From Birch Gold Group
“There is no way the Fed pulls this off without blowing price inflation through the roof.” – Robert Wenzel
In a speech on Thursday titled New Economic Challenges and the Fed’s Monetary Policy Review, Federal Reserve Chair Jerome Powell laid out a new long-term plan for the central bank on monetary policy.
This plan included a dramatic shift in direction for inflation. The Federal Open Market Committee (FOMC) explained the change in the following terms:
Continue reading “The Fed Just Announced a Dramatic Shift on Inflation Policy”
QUOTES OF THE DAY
“The Federal Reserve, as one writer put it after the recent increase in the discount rate, is in the position of the chaperone who has ordered the punch bowl removed just when the party was really warming up.”
William McChesney Martin, Speech to Investment Bankers Association of New York, October 1955
“We’re not even thinking about thinking about the consequences of our actions.”
Jerome Powell, Chairman, Federal Reserve
Third Major Transfer From The Middle Class To The Wealthy In 20 Years
Authored by Mike Shedlock via MishTalk,
The Fed is robbing the middle class once again…
For the third time in 20 years, the Fed has targeted the middle class for the benefit of the wealthy.
Continue reading “Third Major Transfer From The Middle Class To The Wealthy In 20 Years”
THROTTLE UP
“For a successful technology, reality must take precedence over public relations, for Nature cannot be fooled.” – Richard Feynman – Rogers Commission
“It appears that there are enormous differences of opinion as to the probability of a failure with loss of vehicle and of human life. The estimates range from roughly 1 in 100 to 1 in 100,000. The higher figures come from the working engineers, and the very low figures from management. What are the causes and consequences of this lack of agreement? Since 1 part in 100,000 would imply that one could put a Shuttle up each day for 300 years expecting to lose only one, we could properly ask “What is the cause of management’s fantastic faith in the machinery? … It would appear that, for whatever purpose, be it for internal or external consumption, the management of NASA exaggerates the reliability of its product, to the point of fantasy.” – Richard Feynman – Rogers Commission
The phrase “Throttle Up” jumped into my consciousness in the last week when Trump and his coronavirus task force of government hacks and bureaucrat lackeys announced the guidelines for re-opening America, as if a formerly $22 trillion economy, tied to a $90 trillion global economy, could be turned off and on like a light switch. Clap off, clap on. It just doesn’t work that way. The arrogance and hubris of people who think they can declare a global shut down for a virus and think they can easily deal with the intended and unintended consequences of doing so, is breathtaking in its outrageous recklessness and egotistical belief in their own infallibility.
NOTHING TO FEAR BUT FEAR ITSELF
“So, first of all, let me assert my firm belief that the only thing we have to fear is…fear itself — nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and of vigor has met with that understanding and support of the people themselves which is essential to victory. And I am convinced that you will again give that support to leadership in these critical days.”- Franklin D. Roosevelt – March 4, 1933
Franklin D. Roosevelt spoke these words during his first inauguration at the depths of the Great Depression in 1933. The narrative taught in government schools is how FDR’s words invigorated the nation and inspired the people to show courage in the face of adversity. His terminology was that of a general leading his troops into battle.