Direct from the desk of Dane Williams.
Thoughts on the charlatans we know as central bankers and why we’re happy to accept them at their word.
By now you’ve no doubt seen the headline inflation print in the United States surge to 9.1%.
The highest reading we’ve seen since way back in 1981.
Holy shitballs, talk about unprecedented.
There’s just no getting around the fact that this extremely ugly print was anything other than a disaster for a central bank that is already playing catch up.
The Fed really now has no choice but to chart a more aggressive path through the current financial shitstorm they find themselves at the forefront of.
The likelihood of a potentially catastrophic recession is now more than just a possibility.
It’s all but a lock.
Sorry little Johnny, we’ve gotta tell you to stop looking forward to getting that new remote control truck under the Christmas tree this year.
Just what is it with central banks?
Nobody is getting any more free money from the government anymore and not even the big man from the North Pole wants to work for the paltry, stagnant wages on offer.
Things are going to get a lot tougher before they get better.
So just what is it with central banks?
I mean they seem to weave a course from one extreme to the other, pulling changing cliche bullshit out of their arse day to day.
I can’t remember where I saw them described as having all the finesse of a dodgem car as the only reliably expected outcome from their policy is that they will crash, but god I love the analogy.
As an internet marketer at the mercy of Google’s top secret algo, I can somewhat relate to the environment that central bankers work within.
The pseudo-science that we call economics is exactly the same.
There is the complete lack of black and white, meaning that central bankers don’t HAVE to be exclusively right when setting policy.
Yep, just like in the realm of digital marketing it’s all about testing and forever chasing the golden goose of perfection that they’ll never reach.
But unlike a digital marketing agency who sits in front of your business and spouts endless pretentious jargon however, we can’t fire a central bank for talking down to you.
How unfortunate.
When it comes to this particular crop of central bankers however, I’m baffled by the fact we are expected to accept the fact they have been surprised by the economic conditions they are directly responsible for creating.
I mean after dropping interest rates to unprecedented lows and subsequently printing money at a rate even a Zimbabwean banker would find impressive, the audacity it takes to say they’re surprised.
It’s the same fate suffered by administrations who cut holes in their coins and flooded their populations with worthless paper.
Round and round and round we go.
Destined to follow in the footsteps of past collapsed regimes throughout history.
Central banker charlatans: Our direct line to god
The bottom line is that we’re destined to face one doozy of a recession/depression as people have borrowed much more than they can afford to repay .
People have and will always seek the reassurance of those representing higher powers.
Have faith because someone else will fix it, right?
Well after dropping the ball and allowing inflation to hit NINE FUCKING PLUS PERCENT, maybe Jerome Powell and his fellow cronies should start dressing in robes and speaking in tongues to rev up the crowd.
It seems to work for the Christians.
With the whole economics schtick starting to wear thin, it’s not like they have anything to lose.
We laugh now, but...
Best of probabilities to you.