. . .
K “In a runaway vote, the ‘Federal Funds Fiasco’ show was voted the best new dramedy of the year for 2022.”
J “The Katzenjammer Kids merge with the Keystone Cops. And the nightmare was renewed for another season this year.”
. . .
J “When Powell was up for reappointment, the public saw some visible signs of infighting spill and spew out. What is clear is that the members of the Federal Reserve itself are using the positions to further enrich themselves to the detriment of the public. The corruption is cancerous.”
. . .
K “Spoiler alert. Some plot twists are in the works. The current rate hikes have produced negative effects, yet the real effects – negative and possibly positive – lag by six to nine to twelve months and have yet to manifest. The calm before the storm. And because the current price rises are a supply side problem not a monetary phenomenon, the rate increases will do little to slay or even stay inflation. Real inflation for real folks is and will really remain over at least eight percent throughout this year. And no one believes that the Fed can raise the rates higher than six percent without breaking the entire economy into shreds and shards.”
J “Some reality twists are in the works. The coming recession may slow inflation, yet folks must drive and eat and shelter and live. They may drive less, but they will continue to eat and shelter and live.”
. . .
J “Wall Street subsists on and then front runs inside information. For decades, the conventional wisdom was ‘Don’t fight the Fed’ and roll with the largesse. The strategy worked even for little folks. Today, Wall Street is actively running from and resisting what appears to be the settled policy of the Fed. Two powerful entities running in opposite directions are primed to collide.”
. . .
J “Stay tuned.”
K “The popcorn, por favor.”
. . .
[See “Rural Americans aren’t included in inflation figures – and for them, the cost of living may be rising faster” by Stephan Weiler and Tessa Conroy in “The Conversation” dated January 27, 2023.]
[See the e-commentary discussing inflation in detail and noting almost two years ago that the inflation was and is not “transitory” at Is Inflation Inflating!?!? (April 26, 2021) and assessing the current economic dilemma at The Great Checkmate And The Great Seesaw: Interesting Rates (April 11, 2022). See also Interning For Clio: Collecting, Protecting And Preserving The Record (April 4, 2022) and Covid-19 PanICdemic/Plague: Basically, Back To Basics: Finding Food; Printing Rutabagas. Happy Earth Day! (April 20, 2020).]
Bumper stickers of the week:
WIN [Wipe Inflation Not So Soon]
Flight the Fed?
e-commentary 