Debt Rattle December 14 2016
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Louise Rosskam General store in Lincoln, Vermont 1940 • Janet Yellen Needs To Announce Her Resignation — Not A Rate Hike (Crudele) • Stephen Roach Fla
[See the full post at: Debt Rattle December 14 2016]LOL. We’re all doomed. And the narrative just goes on and on; as do we…
Without a cataclysmic event ; humans will remain in denial.
Forever…Well Ilargi; you’re one of the last bastions of sanity.
After my post above, I went surfing and found nothing but wild crazies, posting across the i-net.
I definitely need to get a life away from the insanity invading all aspects of the www. whatever…“China subsequently sent a bomber … over the contested South China Sea.”
Oh noes. China flew a plane in international airspace? Whatever shall we do? And thanks to Trump they put bases on islands they were already putting bases on? You know, the islands they’ve been on since 500A.D., when Europeans were still swinging from trees? As a firm show of … doing what they were already doing, which the Philippines and Malaysia now agree with?
By the way, our business in the South China Sea? Because that’s where Seattle is? No wait, it’s 5,445 miles from us. Clearly, that’s why we should determine what China should do in a sea named “China”. When they fly in international airspace. With planes. Provocative.
I’d go on, but life now beggars satire. They just had this same sensation last month when Russia — get this — was sailing in the North Sea!! Can you believe it? Russia. In the north! In International waters! Then…and I kid you not…they steamed peacefully through the ENGLISH CHANNEL! WTF? I mean, following 300 years of maritime precedent? Aggressive. Amirite?
Just for fun, can post tomorrow on the breathless new NY Times piece. That is, after gushing over hiring Politico’s Glenn “Don’t tell everyone I’m a hack” Thrush, because what we do now with discredited, “hack” journalists is promote them to the Times! Turns out — and you won’t believe this — that the Russian Fake News purpetrators are the NYT itself! Becoming an “instrument of Russian intelligence.” Who knew? We are now accidentally hacking ourselves. Sounds aggressive. Should we bomb us? Premptively? Or should we wait until we attack us?
So how did the NYTimes become a Russian agent? By “publish[ing] multiple stories citing the D.N.C. and Podesta emails posted by WikiLeaks.” That is to say as a journalist, one becomes a Russian agent by printing the truth. You are therefore a True American(TM) whenever you do NOT print the truth. QED.
I’m a bit lost now. Since by their own admission the NY Times has been a Russian mouthpiece, how do I trust its article avowing they are a Russian mouthpiece? Should I not trust NBC and CNN either? Should I cancel my subscription? What about when they said Clinton was Mother Mary and Trump was the Antichrist and there was nothing to see in her 30,000 emails selling Uranium interests to the Russians while taking $300M in Saudi money which is the definition of a foreign power was influencing the election? Was that also a lie? Now they want backsies on the election and do the last year all over again. I’m sure everyone will be into that.
So. Confused.
The Crudele story about Yellen and Trump is a silly mess. Mouthing a crude version of the newly minted ‘consensus’ of the Feds sins which is a sort of summary of what the alt economic community has been saying for 20 years. Then making the nonsensical case that “.. she already raised interest rates vigorously” That being a single raise of the Fed Funds rate by .25% one year ago. Yes rates have spiked but Fed words and the one tiny Fed Funds rate hike have had nothing to do with it.
As if Mr Crudele was a Fed critic, on any of the points he raised, in 1998 or 2001, or 2006 or 2008 or 2012.
The question left unanswered or really unasked is what Trump wants from the Fed or thinks he wants. Yes there are some people that have had his ear who are moderate skeptics of the activist Fed but no politician in his right mind can be anything but a huge fan of whatever it takes to keep the markets liquid and rates low. I think Trump might prefer to marry Hillary than see rates continue to rise. What Trump is fated to want is more QE, to infinity one can suppose, and then probably the Fed simply writing off its Treasury obligations.
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