Feckless Fed

We had a friend who decided not to call a plumber. Though nothing in his history said he was one of those handy DIY guys nearly every woman hopes will betroth them, that's what he decided to do.

This is one of those unhappy ending stories waiting for a venue to be known. In a brief sentence, he made the problem worse. Lots worse. So another friend, once the news got out among the circle of friends, started calling Fred, the DIY plummer, Fed for short.

That's where we are with the Federal Reserve and their now nearly a decade of bumbling, stumbling monetary policy--worse. Much worse. Economic growth for the first half of the year came in about 1%. But the cheerleading-kick-the-can crowd, like a perennial losing football fan, roll out their wait until next season meme. In their eyes it's always just up the road. In this case the second half of 2016.

Well, we're nearly two full months into that second half and not only are things looking grim, but a growing number of billionaires, the latest  Paul Tudor Jones, are publicly waving the red flag. If they turn out to be correct and makes bushel baskets full of money one can only guess what epithets and opprobrium they will suffer.

The nonsense that the Fed's actions saved the global system from disaster is just another government big lie, a trait big government is noted for. Think $400 million here and Iran. Think the government's refusal to turn over certain e-mails and the medical history of a presidential candidate  for public consumption and the real opportunity to decide their fate that elections of this magnitude are suppose to be about. This semi-free nation, once a proud, plump healthy grape, is every day when it comes to freedom of choice and individual rights becoming like a half full box of 50 raisins.

That's the goal of big government, shrink your rights. The Fed is part of that plan. And so is a cashless society.

The Fed has not only failed to fix what's broken in the U.S. economy--it has actively made those problems worse.

The Federal Reserve claims its monetary interventions saved America from economic ruin in 2009, and have bolstered growth ever since. Don't hurt yourself patting your own backs, Fed governors past and present: it's bad enough that the Fed can't fix the economy's real problems--its policies actively make them worse.

After seven long years of politicos and the financial media glorifying the Federal Reserve's policies as god-like in their power and efficacy, let's take a quick look at the results of these vaunted policies: ZIRP (zero interest rates), (QE) quantitative easing, both of which are ways of shoving nearly-free money ( a.k.a. liquidity) into the banking sector, where all this free money is supposed to filter into the global economy, working miracles of prosperity.

The stated goal of the Fed's zero-interest rate policy (ZIRP) and quantitative easing (QE) was to make borrowing easier for both corporations and consumers, the idea being that companies would borrow to invest in new productive capacity and consumers would buy the new goods and services being produced with the Fed's cheap credit.

Here are a few charts the tell a different tale from that of MSM. For the full story zerohedge.com/news/2016-08-19/what-fed-hasnt-fixed-and-actually-made-worse.