9/23/21 Things Changed
Please view our post from that day. That was the day that the economic stimulus story changed. Effects caught up with the hype. This would appear to be the end of what really started in 1980 with the Supply Side format. A format that moved money to the top, rather than support a traditional cost/return economic direction.
This was choreographed through four meltdowns, 1987, 2000, 2008, 2020. Through all this the FED stepped in and held everyone’s hand, not just on an emergency basis, which could have made sense, but in a continual sense where there was no limit to funny money. It started with Greenspan who was in a sense experimenting, moved on to Bernanke, who made it a Global Gospel, slid through Yellen who was afraid to tackle the inequities, and then moved to the upper limits with Powell.
There had to be an end to this insanity, and it came in an unexpected blowup, the exposure of FED Governors using their inside information on FED direction to profit hugely on Macro Economic moves.