The Time Has Come

 The Federal Reserve recently launched it own Facebook page.

That is these bureaucratic geniuses' idea about increasing their public transparency. No doubt a feeble jester to remove some of the heat they've been quite deserving of. So far from what we can gather it's been nearly as huge a flop as it's monetary policies all these seven long and growing years. A cynic might conclude, given their stumbling, bumbling record, there's little that could be too harsh to utter about this crowd.

The American Banker, a well-known industry outlet, dubbed the experiment "a disaster," according to sources. Eleven thousand likes were recorded the first week, a good sign one might think. But most of the responses have been  labeled "hates," as in what the hell are you doing to naming the bank the "root cause of all problems in the United States."

The disdain  for the Fed is alive and justifiably growing. Lowering and keeping rates artificially low for this long, they knew what choice they were making, pushing money shamefully into the hands of the wealthy and literally killing the retired, about to retire and the COLA crowd. It was a deliberate, calculating and, in the eyes of many, an unforgivable decision. We won't even bother to mention the poor and less fortunate.

Despite their expected denials they've created asset bubbles in several markets. Their interest rate policy has been a sharp officially-sanctioned petard to the left ventricle of savers. Talk abounds today about level playing fields. If this one were any more less level it would be a steep cliff. This data driven den of academics is at it again, suggesting that "the case for an increase has strengthened in recent months." Not only that, but two quick rate hikes might just be what the captain orders for dinner.

The BLS employment numbers are as phony as most politicians' promises. These numbers are simply an egress valve as in "How the hell do we get out of this mess?" As Nick Carraway points out in the first chapter of The Great Gatsby:  "Reserving judgment is a matter of infinite hope." Shuttering this miasma of monetary pretension and guidance once and for all is one hope the real people of this country in their infinite, unappreciated wisdom would be wise to demand.

The time has come.