But hey, Commandante Bidet says it’s the best economy ever under his leadership.
This was the worst possible scenario for the Fed and Chairman Jerome Powell’s disaster of a press conference today. Without posting the entire blather from the Fed which is a waste of my bandwidth and your time, here is the summation:
We don’t know what the fuck to do.-Federal Reserve Bank of the United States
They are threatening to raise rates and stop buying assets but just in case they are using their double secret clause 20-189 directive to be cautious and buy another $30 billion the next two months to make sure that the ClubFed Hedge Fund stays profitable until the suckers can be fleeced one more time.
In the mean time, the trade balance has soared to new records, oil prices are skyrocketing higher, supply chain disruptions expanding, and worse, no idea what to do or who to sell their “assets” too because the minute they start the Fed crashes those markets.
Meanwhile in real money land (no, not digital bullcrap dollars) the Fed gave the Russian Central Bank an assist by crushing gold prices further so those nations that need more “real” money can acquire it at a lower price today:
Stay tuned as the earnings season is still the usual circus with nonsense being spewed everywhere, the hucksters on Bubblevision are still doing their thing, and somewhere a Senile Joe is wandering the hallways of the White House talking to marble figureheads to get some advice.
Hell, all he has to do is call Jimmy Carter to find out how to deal with this. Come’on man!