joining

The Commerce Department reported on Thursday that second quarter gross domestic product (GDP) increased at an annualized rate of 6.5 percent.  This may sound good, initially.  But economists with Dow Jones had estimated an 8.4 percent Q2 GDP increase. Thus the Fed will continue to hold the federal funds rate near zero and will continue creating credit from thin air at a rate of $120 billion per month to purchase Treasuries and mortgage backed securities in the amounts of $80 billion and $40 billion, respectively.  By now these damaging actions have become exceedingly mindless.  The aim for maximum employment will ultimately prove to be a shortsighted calamity. The economy’s not really strengthening at all.  Rather, the economy and financial markets, handicapped by extreme intervention, are entirely dependent on this monetary stimulus. Implicit to the planner’s toils, is a shared sense that they know how to spend your money better than you.  At best, the central planners call your money to Washington so they can then distribute it back to your friends and neighbors.  In reality, the lawmakers call your money to Washington where they distribute it to their friends and neighbors – not yours. We will all contribute to an economy that’s ultimately doomed, where debt well outpaces GDP. Make of it what you will.  Physical infrastructure.  Human infrastructure.  Debt.  Deficits.  Nonstop money printing.  Price in...

Wednesday, July 28, 2021
By Jimmy

quiz

good