Quote:
Originally Posted by Gatordash
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We are either at the beginning stages of hyperinflation or the beginning stage of multi-decade long recession. The Federal government is keeping interest rates at 0-0.25% and decreasing their $120 billion/mo spending to $105 billion. Inflation is going up. Wages are going up. Economic growth is going down. They have artificially increased the economy by dumping so much money into it that they can't hike rates now because the economy would stop. So their next best option is, "well we will print 15 billion less this month than last month, that'll do it."
Imagine what the value of your home you overpaid for this year will look like if they hike mortgage rates. Doubt you will be going out to buy a new car to go with your new house when car loan rates go up. Powell literally said yesterday that he thinks (hopes) inflation will stay under control because although wages are increasing, they are not able to keep up with how fast inflation is rising. He essentially hopes people will stop buying things because they can't afford it even though he has done everything he can to entice people to buy things that they can't afford. He then promptly went to Congress after taking questions from the press yesterday to give them insider trading knowledge and now his chances of being re-elected Fed Chair in February have gone back up to 80%.
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generally identified by a fall in GDP in two successive quarters.
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