If the Fed Were Publicly Traded, Wall Street Would Savage Its Stock

In early 2006, in testimony before the U.S. Senate, Fed Chairman Ben Bernanke told the senators that the subprime crisis had been “contained.” If the Fed were a publicly traded company, Wall Street would trash its stock based on the credibility of management, the failure of its policies, the loss of confidence of major constituencies […]

The Fed’s Bizarro World

The Seinfeld TV comedy series (1989-1998) had a set of episodes, known as Jerry’s Bizarro World, where everything “normal” was turned upside down and inside out. The Fed seems to have accomplished something similar with its experimental Quantitative Easing (QE) policies. For the first time in a long time, underlying economic fundamentals are turning positive. […]

CPI Manipulation Has Exacerbated the Income Gap

While the “official” CPI inflation rate appears low today, it is based on flawed methodology, which, over time, has caused it to be close to meaningless as a measure of the cost of maintaining a standard of living. In 1983 and again in 1995/96, the calculation of the CPI was modified by the then sitting […]

Stagflation Is Here: Today’s Unspoken Truth

“Stagflation” is a term coined in the ‘70s. It means high levels of inflation in a stagnant or sputtering economy. Sadly, while unrecognized by today’s media and political factions, Stagflation is a reality. Ingrained Inflation The following appears in the Federal Reserve’s (Fed) policy committee statement following the late July meetings: [I]nflation between one and […]