Charles Pewitt on how by playing with the dollar, the powers that be are playing with fire:
Continuity bias is strong in the Upper Middle Class White Boob American and in a lot of other Americans and the only thing holding this thing in the USA together is monetary extremism from the privately-controlled Federal Reserve Bank.
The asset bubbles in stocks and bonds and real estate are what keep these White boob bastards fat and happy and in a zombie state of Continuity Bias Bliss.
When the monetary extremism music is over those sonofabitches are gonna turn out the lights on the dreams of a fat and happy future.
I say raise the federal funds rate to 20 percent like it was in 1981 and pop all these damn asset bubbles in stocks and bonds and real estate.
The TreasureFed knows there is no way out the way it came in. The only option is forward. The official inflation target has been calibrated upwards, the pretense of even considering tightening over the next several years is gone, the Fed is urging fiscal stimulus to pair with monetary stimulus, the institution is staring down an additional infinitely expensive mandate to End Racism, trade deficits are hitting all time records, and the DXY is down 10% over the last few months. If this doesn’t destroy the dollar, nothing will.
Unlike Pewitt though, I say we see if the dollar really is impervious. If it is, or at any rate its destruction is decades down the road as many here maintain, forget raising rates to call in fire on our location. Open up the cash cannons and let them rip. Instead of just the White boob bastards being fat and happy, let’s spread that happiness around. Go big or go home, as the president says. Forget another single shot of $1200, double the amount and make it monthly for everyone. If a $2400 per month UBI is free, why isn’t Congress giving us one?
Either the dollar isn’t strong or the stingy bastards are lying to us (or both). Time to call them on it.