Have you awakened yet and started to buy negotiable goods such as metals, art, antiques or land. Time is running out for good prices and availability.
Global central bankers beg for help from governments
Meanwhile, back in the USA…
The Fed and rate hikes,
‘A Brave New World’
Translation: We don’t have a clue…
These financial wizards have run the world’s economies into the ditch. The Keynesian economics practiced should have had these individuals fired and then brought up on charges for banking mis and malfeasance. Everywhere these naifs have placed their peanut butter and jelly coated fingers became a fiscal disaster zone.
Global central bankers, stuck at zero, unite in plea for help from governments
Central bankers in charge of the vast bulk of the world’s economy delved deep into the weeds of money markets and interest rates over a three-day conference here, and emerged with a common plea to their colleagues in the rest of government: please help.
Mired in a world of low growth, low inflation and low interest rates, officials from the Federal Reserve, Bank of Japan and the European Central Bank said their efforts to bolster the economy through monetary policy may falter unless elected leaders stepped forward with bold measures. These would range from immigration reform in Japan to structural changes to boost productivity and growth in the U.S. and Europe. [snip]
Fiscal policy was not on the formal agenda for the conference, but it was a steady part of the dialogue as policymakers thought through policies for a post-crisis world. One of the central worries is that households and businesses have become so cautious and set in their outlooks – expecting little growth and little inflation – that they do not respond in expected ways to the efforts central banks have made.
That has included flooding the financial system with cash, and voicing a steady commitment to their inflation targets in an effort to make people believe they will be met. [snip]
The European Union is falling apart, banks are charging negative interest rates in hopes that people will spend money. They are but they’re buying metals, land and things that will hold value with the coming economic crash.
Given that all the Socialist/Progressive economic policies haven’t worked so far, according to the Banking Poobahs, they just need to try them harder.
Nothing like grinding what doesn’t work right into the ground.
As Fed nears rate hikes, policymakers plan for ‘brave new world’
We don’t think they need to worry about fighting the next recession. Their record shows they didn’t do very well fighting this one. We’re mired hip deep with a batch of shlubs worrying about inflation.
A solid U.S. labor market “has strengthened” the case for the first rate increase since last December, Fed Chair Janet Yellen told a central banking conference in Jackson Hole, Wyoming. Several of her colleagues said the increase could come as soon as next month if the economy does well.
Further rate hikes are expected to be few and far between as the U.S. central bank tries to balance a desire to fuel growth against worries it could overheat the economy.
But Fed officials at three-day conference that ended Saturday also said they need to consider new policy tools for use down the road, such as raising the inflation target or even Fed purchases of non-government-backed assets like corporate debt.
Such ideas would test the limits of political feasibility and some would need congressional approval. The view within the Fed is that it could take effort to win over a public already skeptical of the unconventional policies the Fed undertook during the last crisis. [snip]
Has anyone grabbed one of those strengthened labor market jobs they yammer about so much?
Maybe they should toss Keynes book on economics into the trash and start use Friedman’s textbook. Ah but that is like telling Mohammad to give up the Q’oran.
Socialist/Progressives are ardent believers in the Lord Keynes. They just cannot figure out why he isn’t in the pantheon of fiscal Gods with all the smart ones.
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