Common Sense for the 21st Century

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Recession Looms — Not Another Fake-Ass FOMC Meeting Please

Will the Fed take a break from sending us all into a recession?

The Fed decided to tighten the screws on the working class by raising its benchmark rate another quarter point — for the 11th time in 17 months at their last meeting on July 25-26 — in its ongoing misguided crusade to curb the inflation crisis that the Fed itself caused with Pandemic era easy money monetary policy.

Inflation had been cooling off during the last FOMC meeting. Biden had been bragging as if Bidenomics tamed inflation.

But lo and behold inflation started to rise again.

The closely watched year-over-year inflation rate climbed from 3.2% to 3.7% in August, largely due to a new surge in gas prices. 3.7% is still well out of the Fed’s arbitrary 2% target that Bernanke adopted in the wake of the 2008 crisis.

So, the Fed clearly has no control over inflation.

One would logically assume that the Fed would raise rates again at the upcoming FOMC meeting this Tuesday and Wednesday since inflation is on the rise again. But the Fed is probably going to leave rates the same and let the forces of inflation do what ever they were going to do anyway, because no one in the stock market has been making any money. So the market has been pressuring the Fed to get back to low interest rates and easy money. The stock market is therefore ironically far more sick of these rate hikes than average everyday debt slaves who don’t seem to have a clue as to how any of this shit is currently fucking up their lives.

Food, rent, gas used car and airline ticket prices sure as hell haven’t been getting any cheaper even though inflation has supposedly been cooling off.

The Fed only cares about it’s fake-ass PCE measure which doesn’t include food or gas costs for normal debt slaves like us.

The number of unemployed people increased by 514,000 to 6.4 million this August and the Fed is happy about this. The average interest rates for credit cards are going up, so I sincerely hope that none of you readers ever have to deal with any emergency medical expenses for the foreseeable future.

Mortgage rates are expected to stay above 6% for the rest of the year, so I hope that none of you are desperate to buy home anytime soon. The average interest rates for autoloans is going up, so I hope you are not driving a lemon. Student loans are getting even more expensive as well and take it from me that you won’t learn shit about the fact that you are a debt slave to the Fed from any university system in this country so forget about going to college if you haven’t been brainwashed into it yet.

Just keep googling the Fed instead.

Don’t expect any new upgrades or major milestones in your life anytime soon thanks to the Fed’s insane interest rate hike campaign — long story short.

Economist Larry Bates explained in The Money Masters documentary that the Federal Reserve is more powerful than the President, Congress and all of the Courts of the Federal Government combined. “The Federal Reserve determines what the average person’s car payment is going to be, what they’re house payment is going to be and whether they have a job or not, and I submit to you that that is total control.”

And of course the Fed wants even more control over us which is why they are developing CBDC.

Even Minneapolis Fed Pres, Neel “infinite cash” Kashkari thinks that CBDC is fucked up.

“If they want to monitor every one of your transactions, you can do that with a CBDC, you can’t do that with Venmo. If you want to impose negative interest rates, you can do that with a CBDC, you can’t do that with Venmo. And if you want to directly tax customer accounts, you can do that with a CBDC, you can’t do that with Venmo. So I get why China would be interested — why would the American people be interested in that?

Meanwhile business bankruptcies spiked in August. Company failures have now risen for 13 consecutive months as the Fed’s interest rate hikes chip away gat mid-sized business balance sheets – even as the Fed continues to fail to get it’s balance sheet below $8 trillion! Superstar investor Kevin O’ Leary from the show Shark Tank warned that the Fed’s interest rate hikes are going to crush small businesses.

“We have a crisis emerging,” O’Leary told Fox Business. “I’m talking about companies with five to 500 employees, which represent over 60% of our economy. If you’re in the S&P 500, you have no trouble financing your business. You can’t say that about small business anymore,” he added. “The cost of capital has gone through the roof.”

So I hope none of you are planning on opening up your own business anytime soon.

The Fed could very well be sending us into a recession according to American Enterprise Institute senior fellow Desmond Lachman. He also pointed out that Powell completely ignored the risks that China’s current recession could pose to the U.S. and that Powell will expect all of us suckers to believe that no one at the Fed could have seen a recession coming as a result of their rampant rate hikes once it inevitably starts. Michael Burry made so much money predicting the 2008 recession that they made a movie about him called The Big Short. Now Burry has pulled his money out of the American and Chinese stock market and is betting 90% of his portfolio, a whopping $1.6 billion on another stock market crash.

I hope you’re all ready for a sequel.

There is a 43.5% probability of another rate increase at the Fed’s Oct.31-Nov. 1 FOMC meeting even though it will take between 12 and 18 months to see the full effects of these hikes on the economy.
The Fed is preparing the market for the possibility of yet another rate hike later this fall because the Fed has no clue whether or not it has an illusion of control over inflation and because the Fed is willing to force average debt slaves like us into a recession in order to protect the value of the dollars that they’ve hoarded at the expense of our suffering.

Fed Governor Waller brazenly expects us to believe that “I don’t think one more hike would necessarily throw the economy into recession if we did feel that we needed to do one.”

“It’s not obvious that we’re in real danger of doing a lot of damage to the job market, even if we raise rates one more time.”

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