We return to the scene of the crime this week, with inflation once again all the rage as a hot topic with widespread governmental reporting across the globe of official statistics this week. The topic of ‘inflation’ was the focus of the 2nd The Worked Shoot
Is it possible that the FED has operated under the delusion of the "wealth effect:" Robert Shiller has said that the wealth effect is a mirage and others have said that generally, the only real wealth effect is the increase in home values after inflation. Wondering if the financial priesthood has not confused this with the Cantillon effect, which benefits the wealthy at everyone's expense. Seems to me we have been hollowing out the middle class and monetary policy has been one leg.
I struggle with what mix the main Federal Reserve Board governors are vis a vis useful dolts/willful participants/true believers/flat earthers etc. We did find out they are corrupt insider traders.
Perhaps unsurprisingly I lean towards a sort of kayfabe, where the NY Fed is the Shoot while the dual mandate/FRB run subterfuge as a Work to provide political protection/cover.
Is it possible that the FED has operated under the delusion of the "wealth effect:" Robert Shiller has said that the wealth effect is a mirage and others have said that generally, the only real wealth effect is the increase in home values after inflation. Wondering if the financial priesthood has not confused this with the Cantillon effect, which benefits the wealthy at everyone's expense. Seems to me we have been hollowing out the middle class and monetary policy has been one leg.
I struggle with what mix the main Federal Reserve Board governors are vis a vis useful dolts/willful participants/true believers/flat earthers etc. We did find out they are corrupt insider traders.
Perhaps unsurprisingly I lean towards a sort of kayfabe, where the NY Fed is the Shoot while the dual mandate/FRB run subterfuge as a Work to provide political protection/cover.