Loading ...It’s ridiculous to bestow a small group of global central bankers the power to do Whatever They Want in the name of delivering on some arbitrary index level of consumer price inflation. To create $14 TN of “money” and unleash it upon global securities markets is undoubtedly history’s most reckless monetary mismanagement.
Inevitable Blowback has commenced. “The dog ate my homework.” “The inflation mandate made us do it.” With a full year remaining in his term, Draghi won’t be sharing Bernanke’s good fortune. This whole historic monetary experiment will be unraveling while he’s still on watch. But, then again, the Trump administration already has its scapegoat. Perhaps the whole world will blame Chairman Powell – or the man that appointed him.
Following a terrifying trajectory, things somehow turn more disturbing by the week. Political travesty has degenerated into a surreal quagmire. And to see this degree of division and hostility at this cycle’s boom phase should have us all thinking carefully about what the future holds. As a nation, we are alarmingly unprepared. And it’s back to this same issue that’s troubled me for a number of years now.
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