[the financial media (corporate and alternative) is once again engaged in its favorite tea-leaf reading exercise: parsing what Jay Powell’s words “really mean”.]
That right there tells you everything you need to know:
Our entire economic existence is built on a base of bullshit.
We take for granted that a man in his position will never tell the truth.
And we'd be right to think that.
Personally, I can't think of a less interesting, less useful topic than what this man really thinks, or what he "really means."
More like what "experts" comprehend of our economic existence is pure BS.
The ordinary man's economic existence is as it has always been: work, pay the bills, hopefully have a little left over for a bit of fun plus the inevitable rainy day. Nuances of which the"experts" on Wall Street and at the Fed are wholly ignorant.
Thank you. The cognitive dissonance is widening, I know many claim the market is manipulated and on the surface of stock and bond movements it sure doesn't seem to reflect the reality I see at the grocery and department store - which is why your articles are so important. I feel like I'm waiting for the floor to suddenly open up underneath me, like one of those amusement park rides.
The dichotomy between Wall Street and Main Street is very real.
The difference is that Main Street is foundationally rooted in the reality of paying bills and putting food on the table, and Wall Street is foundationally rooted in the unreality that wealth can be created ex nihilo by manipulating numbers on a Bloomberg terminal.
[the financial media (corporate and alternative) is once again engaged in its favorite tea-leaf reading exercise: parsing what Jay Powell’s words “really mean”.]
That right there tells you everything you need to know:
Our entire economic existence is built on a base of bullshit.
We take for granted that a man in his position will never tell the truth.
And we'd be right to think that.
Personally, I can't think of a less interesting, less useful topic than what this man really thinks, or what he "really means."
More like what "experts" comprehend of our economic existence is pure BS.
The ordinary man's economic existence is as it has always been: work, pay the bills, hopefully have a little left over for a bit of fun plus the inevitable rainy day. Nuances of which the"experts" on Wall Street and at the Fed are wholly ignorant.
"what does the Federal Reserve gain by further rate hikes?"
Room act like it's doing something by lowering them again when the markets finally crash.
Thus completing the endless circle jerk that is economics done by "experts".
It's our own flavor of "central planning", and just like in more collectivist, authoritarian systems, it never works out well in the long run.
Thank you. The cognitive dissonance is widening, I know many claim the market is manipulated and on the surface of stock and bond movements it sure doesn't seem to reflect the reality I see at the grocery and department store - which is why your articles are so important. I feel like I'm waiting for the floor to suddenly open up underneath me, like one of those amusement park rides.
The dichotomy between Wall Street and Main Street is very real.
The difference is that Main Street is foundationally rooted in the reality of paying bills and putting food on the table, and Wall Street is foundationally rooted in the unreality that wealth can be created ex nihilo by manipulating numbers on a Bloomberg terminal.