When the economy is bad the incumbent usually loses, I think.richard5za wrote: ↑Sun May 31, 2020 6:06 amThe riots may help Trump win November as he seems to be saying all the right things to moderate whites
https://www.americanbanker.com/articles ... owell-saysFed policies ‘absolutely’ don’t add to inequality, Powell says
May 29, 2020, 3:40 p.m. EDT
Federal Reserve Chairman Jerome Powell cast the central bank’s actions during the coronavirus crisis as aimed squarely at helping U.S. workers, a tactic to head off criticism that has dogged it since the last recession: that its policies primarily serve Wall Street and wealthier Americans.
I'm surprised it was down that much.
Higgenbotham wrote: ↑Sun May 31, 2020 7:12 pmhttps://www.americanbanker.com/articles ... owell-saysFed policies ‘absolutely’ don’t add to inequality, Powell says
May 29, 2020, 3:40 p.m. EDT
Federal Reserve Chairman Jerome Powell cast the central bank’s actions during the coronavirus crisis as aimed squarely at helping U.S. workers, a tactic to head off criticism that has dogged it since the last recession: that its policies primarily serve Wall Street and wealthier Americans.
It's time for the lies to stop.
https://www.zerohedge.com/markets/here- ... al-bankingMeanwhile, as central banks spark even more deflation with their policies, the one place where all those trillions in liquidity they conjure out of thin air ends up in, is what was once known as the "market" and is now, in the words of BofA the "fake market" or as DB calls it "administered markets", leading to ever higher fake asset prices, and ever greater wealth and income inequality, which ultimately tears the fabric of society itself.
In fact, just look at what's happening to America right now: rioting, looting, pillaging, Americans fighting other Americans and while the media is spinning self-serving narratives that frame the bad guy as Trump, or China, or Russia, or this political party, or that, or some social movement, the truth is that the culprit behind the upcoming collapse of the US is just one, the same one that Thomas Jefferson warned the brand new nation about more than two centuries ago:
I believe that banking institutions are more dangerous to our liberties than standing armies. The issuing power of currency shall be taken from the banks and restored to the people, to whom it properly belongs.
If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered."
And sure enough, looking at what's happening in any major city today, we see a lot of homeless and desperate people. And as a further reminder, the Fed - as the Bank of England was so kind to remind us - was and remains a private institution, no matter its claims otherwise.
Now if only someone could explain to all those millions of angry Americans that the source of virtually all of society's ills is to be found in the building below (which just happens to house an unknown amount of freshly printed dollar bills), it would be a much-needed start to the reset the US so desperately needs to avoid complete destruction.
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