U.S. stock futures rise as Powell says the Fed is still a ways off from letting up on easy policy

CNBC ^ | July 14, 2021 | Hannah Miao

[tatown]

Powell will say in his required semiannual testimony before Congress on Wednesday that the central bank can wait before it starts to ease its bond purchases despite surging inflation readings, according to remarks released before his testimony. In his prepared statement, Powell said he still expects inflation to moderate.

[tatown]

The Fed is keeping the pedal to the metal. Y’all think inflation is high now? Just wait!

[JoSixChip]

Powell said he still expects inflation to moderate

Fools and liars. If anything, inflation is accelerating. We're talking about 7% now and still on an upward trajectory. They will wipe out the life savings of the middle class.

[pierrem15]

They cannot raise interest rates because it will bankrupt the US-- the Federal government and may state and local governments have no realistic way of paying off the debts.

As a consequence, the debt will be reduced by inflation, further enriching the asset owners and pauperizing the rest of the population. And every other major economy is doing the same.

This is likely to produce a revolutionary situation as more and more of the middle class is forced into poverty.

[tatown]

Things are going to get very ugly when this massive bubble finally bursts.

[JerryBlackwell]

Middle class life savings should be in the stock market and keep up with inflation as the market rises

[Uncle Miltie]

PPI is at a 12.0% run rate.

CPI is at a 10.8% run rate.

Housing is at a 15% run rate.

Wages are at an 8% run rate (workers be suckas!)

Interest income is at a <1% run rate (old people be suckas!)

And the Fed sees no evil inflation.

Economically, this is monstrously destructive.

Politically, it is the dynamite that destroys Biden and the Dems in Congress.

What’s the line on 2022? I smell money...

[Uncle Miltie]

Until the day the chickens come home to roost (-40%).

[JoSixChip]

Middle class life savings should be in the stock market and keep up with inflation as the market rises

This stock market is not rational and very likely will crash. It's a gamble to say the least. Only a fool would put their life savings in something as unstable as this market.

[cgbg]

The Fed is a lagging indicator—by the time they decide to act they will have to slam on the brakes and crash the economy—if they slowly tapped the brakes now the disaster could be minimized.

[Signalman]

2024 will be 1980 part two. A Dim president overseeing an economy with inflation out of control. Donald Trump playing the part of Reagan.

[JerryBlackwell]

The market will crash and recover just like last March. In 1970 the DJIA was 750. Right now its 35,000. Don’t see any better way to keep up with inflation.

[Flick Lives]

Middle class life savings should be in the stock market and keep up with inflation as the market rises

—

Bitcoin at $65K. “Bitcoin to $100K”.
Bitcoin at $32K. “Never mind”.

[JerryBlackwell]

good reason to avoid bitcoin and stick with known stocks

[myerson]

Historically, governments have used inflation to wipe of massive government debt. (Learned in Econ 101, 50 years ago).

[minnesota_bound]

The stocks this week have been going down. An article I read was because of earning season....

[Oatka]

Another automotive meme (the cigarette is a nice, prophetic touch):

[tatown]

Yep!