We've been questioning the Fed's--as well as that of other central bank lemmings--now way overdone quest for that magical two percent inflation number for months. It seems the whole globe's existence depended on it. How stunning, how convenient, how simple.
Data freaks love data. You have to know that. You also have to know the magic in data is often interpretation not necessarily the numbers. Some call it framing. Like the Federal Reserve, MSM is famous for framing. Some call it propaganda. Be careful, however, when you use that term.
How do you tell whistling past the cemetery when you hear it. Well, here's an example from our illustrative lame duck administration and it's leader noted on davidstockmanscontracorner.com/trumped-washingtons-fiscal-hypocrisy-is-too-rich-for-words.
“……(Trump has no) sense of the economic and historical importance of America maintaining an iron-clad commitment to stand by its word on our national debt……… U.S. Treasury obligations are the least risky financial asset on the planet and the benchmark against which the price of all other financial assets is set……(not).even the slightest awareness from Trump that he that he might be playing with economic fire because if Treasuries were seen as no longer risk-free that would shake to its very foundations literally the core assumption of global financial markets, meaning that the interest rate on every other financial asset—mortgages, car loans, credit for businesses large and small—could go up perhaps by a lot.
In case you don't get it, Trump recently hinted that the U.S. like most other countries have done throughout history should default on some of its debt. Like what the Fed and others are currently doing now with these bottom sucking interest rates.
What's conveniently left out here and these folks' great fear is another benchmark will take those Treasuries' place. It's known in some quarters as history and the fate of those who ignore it. What was once your benchmark--printing press--becomes that of another.
Exxon the big oil giant climate changers and Sandernistas love to hate lost its AAA credit rating a while back. And so did the U.S. The propagandists, like their idols at the Fed, would like you to believe these killer artificially-suppressed interest rates marched the economy from the precipices of another Great Depression kicking off their monetary madness in 2008. If so it's been a long march from a deep hole somebody helped dig. Can you spell aloud status quo, bureaucrats, neocons, climate freaks, lobbyists, unions, investment bankers and politicians of every stripe in the same breath?
Most of us like abbreviations, so we will offer one--Washington.
When the population finally awakens from their long and deep slumber to just how debt-ridden this nation already is and the next tsunami of inflation rolls in, those responsible will safely be ensconced in all their bunkers they're now building. Bunkers to the left and to the right. But none in your neighborhood.
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