👉Do Central Bankers Know Something we Don’t Know?
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The sensational thing that happened two days ago that the Fed lowered rates by half a point as markets expected a cut of only 0.25.
And still, despite this, the stock markets went down. Why?
Such a drastic measure can only mean one thing: Recession. And here come the sales.
The Fed will never admit any wrongdoing. Remember Ben saying that he never saw the crash of 2008 coming.
Other than printing money for themselves and their buddies, the other thing they are good at is obfuscating and outright lying.
The truth is a for-profit, politicized, central authority that is incapable of measuring inflation should not be determining interest rates.
At present, the tail is wagging the dog. The demand for the debt should be determining interest rates, not the other way around.
The attempt to suppress recessions/depressions in pursuit of perpetual economic growth and inflation is the problem.
Recessions/depressions are inherent in debt-driven economies/markets and need to be allowed to play out without intervention.
The difference between Capitalism and Socialism is that Capitalism allows financially not sustainable entities to fail, to cleanse the economy of unproductive debt. That is also why Capitalism does not destroy economies.
Unnecessarily low-interest rates and QE are forms of Socialism and are unsustainable.
Link the rate of change of private sector debt to the interest rates to allow the markets to determine the rates.
End the central banks and neo-classical economic theory.
Fed had almost 12 years to correct the greed and mistakes of 2008, did nothing, and now we are back to Zero Interest Rates, QE and Printing.
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QE was the FED buying at the longer end of the curve. The Quantitative Easing of 2008-2009 was all about reducing the supply of long-term debt in hopes of lowering long-term rates, which they hoped would revitalize the real estate market.
It also reflects the reality that the Fed has lost control of interest rates.
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