Posted on 10/26/2021 5:52:43 AM PDT by Jim Robinson
Former Treasury Secretary Larry Summers’ criticism that the Federal Reserve and other central banks are too focused on “woke” social issues reflects a growing concern that policymakers aren’t paying enough attention to inflation.
Mr. Summers, a Democrat, is arguing his point as Senate Republicans try to prevent congressional Democrats and President Biden from pressuring the Fed to install regional directors who would devote some of their duties to climate change and racial equity. The Republicans describe the move as a dangerous case of “mission creep” from the central bank’s traditional role of ensuring maximum employment and price stability.
All 12 Republicans on the Senate Banking Committee fired a warning shot this month at the Fed’s regional offices in Boston and Dallas, which are seeking new presidents.
(Excerpt) Read more at washingtontimes.com ...
Yup. I think there is a fair probability that inflation is > 10% next year although my best guess is in the 6-7% range. Some of it will depend on whether the supply chain issues get better, worse, or stay the same. Given vaccine mandates, I expect its likely they will get worse in the 1H of next year.
Mr. Summers, a Democrat, is arguing his point as Senate Republicans try to prevent congressional Democrats and President Biden from pressuring the Fed to install regional directors who would devote some of their duties to climate change and racial equity.
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When I’m in the supermarket wondering if I can afford a package of ground beef, the thought that crosses my mind is, “I’ll be the high price is caused by racial equity”.
If I were going to fundamentally change America....this would be part of my plan.....just sayin’.
This is all by plan. They know what they are doing.
All that matters to the morally perverse and reprobate mind, is defiling, (or getting rid of) every last place and person not yet defiled.
As Scripture teaches of the “times of the end”, society will become “as in the days of Noah”, worse “than Sodom and Egypt”.
These people are at total war with God, and at war with anyone who loves God, loves liberty, and who espouse morality.
And American liberty is derived from individual faith in God and moral responsibility.
This doesn’t end well.
As the Communist Manifesto called for, the fabians gained control (gamed) the entire system in 1913.
We are now in a late phase.
16th and 17th amendments were a disaster....
It’s a feature, not a bug. Crushed under the boot heel of Globalism.
We are now in a late phase.
All that’s left is the kinetic part.
Can't 6uild 6ack 6etter if you don't first destroy Western Civilization.
democrats believe what is harmful and even deadly for Americans is good for democrats and their agenda. Can’t fix stupid as we all know
The Commies only have a few things to check off the list to convert America, lets see:
By encouraging government extravagance, destroy its credit and produce fear of inflation with rising prices and general discontent.
Foment unnecessary strikes in vital industries, encourage civil disorders, and foster a lenient and soft attitude on the part of government toward such disorders.
Cause the registration of all firearms on some pretext, with a view to confiscating them and leaving the populace helpless.
Higher productivity generally leads to lower prices.
But from a national productivity standpoint, who will want to learn, work and produce when there’s no reward for it?
Our social policies are adding fuel to the inflationary fires.
Will this trigger a recession next year? 1-2 quarters of negative growth?
It’s possible, although markets could still go up if nominal gdp still increases due to inflation even if real GDP growth is negative
Fannie May is predicting 30 year mortgage rates to remain between 3.25 -3.75. Housing starts at 1.6 million.
Everything going according to plan.
Yellen just said they haven’t lost control.
So basically we are totally screwed.
L
Yes. Over the years they have slowly implemented their agenda. Now it’s warp speed.
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