" The great financial crisis of 2007/08 will be eclipsed. In a nutshell, this time the quantity of new money required will likely lead to the destruction of the 'full faith and credit' in the currencies themselves, which until now has been broadly unquestioned by ordinary members of the public. "
For the second time in two years, the main street in historic Ellicott City, Maryland, has been rocked by a massive flash flood due to heavy rains that quickly rolled into the area late Sunday afternoon.
The idea that stagflation exists as an economic phenomenon is only really true for neo-Keynesians, who view inflation as economically stimulative, and its failure to stimulate perplexing. In this sense it is frequently applied to conditions today...
"Powell has got a plan, and his sticking to it so vehemently will ultimately be a mistake...Powell’s reaction function is much, much less sensitive to short-term market and economic indicator fluctuations than previous Fed Chairs."
Warning: What you are about to read is not about Russia, the 2016 election, or the latest person to depart from the White House in a storm of tweets. It’s the Beltway story hiding in plain sight with trillions of dollars in play and an economy to commandeer.