Between a rock and a hard place.

Or between Scylla and Charybdis is you want some pre-Oprah imagery.

So, the whole economy is a gigantic credit bubble completely dependent on artificially low interest rates, and the whole thing would be destroyed if the Fed had to raise interest rates to fight inflation, which means they won’t raise interest rates to fight inflation, which means inflation is going to win and it is going to destroy the savings of Americans.[1]

~ Peter Schiff.

No big deal, of course. Americans can just stick in their ear while the magnificent people play at running the country. The Magnificent Ones are on the threshold of that point after which there is no PR campaign and no raft of BS they can float down the river to your shoreline to remove the stink. Simply stated, they have proved that the cared about everything else except the welfare of the nation and its people. They turned our gigantic, magnificent engine of prosperity into a casino.

PS — A+ if you can pronounce Scylla and Charybdis. El linko for the back story.

[1] “Peter Schiff: The Fed Between A Rock And A Hard Place.” By Tyler Durden, ZeroHedge, 3/9/21.

SIL-uh and kuh-RIB-dis.


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    • robert william orians on March 10, 2021 at 5:39 AM

    The normie walking through the grocery store can tell you that  after every infusion of trillions by the politicians the prices have escalated greatly . Even the Amish see  it and respond accordingly with  higher prices on eggs,milk,and labor . Trump may have kept the illusion going longer the way the economy responded to his policies but with the dems now in control the four horsemen will be riding much faster toward destruction of our economy and the coming new world order or more correctly the beast/anti-Christ system . Hold on and buy some precious metals ie: gold,silver,lead . 

  1. Herb Stein’s observation to the effect that “what can’t go on won’t” remains a bedrock truth but he’s ignored.  If I were a crack addict inviting strangers into my home and living on doughnuts, potato chips and beer I would be modeling the lack of foresight of what counts as “leadership” in this country.  This isn’t hyperbole.  It’s really how everything’s being handled.

    Another thought that’s also applicable to our situation is Steve Deace’s observation that expediency is ALWAYS the wrong choice.  The option that involves the least short-term pain is mankind’s favorite option but sooner rather than later it’s time to take note of the Chinese expression, “Open the door and look at the mountain.”  Cut out the nonsense and take a good look at what’s right in front of you.  We’re not even close.  Bad inflation and terrible damage to small business and jobs because of the lockdowns are at least two of the horsemen of the apocalypse.

    • Evil Franklin on March 11, 2021 at 11:54 AM

    Our economic situation has been the 800 lb gorilla since the separation of the dollar from the gold standard.  Just as the collapse in 2008 was felt years before it happened the next collapse can be felt to be upon us soon.

    Governments willingness to accept Keynes economic theories will bring down the worlds economies sooner or later.  Probably sooner.

    1. It was the rare person who heard of the adoption of Keynesian policies who immediately had a sense of foreboding. The realms in which they operate are recondite at best. I try to read what I can on ZeroHedge to try to educate myself but the best I can do is strike reality a glancing blow.

      I long ago ran across an anecdote that told how a woman in Hawaii was surprised to find that her milk had been delivered the day after Pearl Harbor. We’re talking about the reverse sequence, of course, and it’s just hard for most people to know what exactly to key on. Incessant “stimulus” a/k/a printing fiat money is a pretty big clue but if you ever watched Jay Leno’s street interviews you have to scratch your head over the incredible ignorance there is out there. The bus pretty much has to crash through the front door for people to understand that the roads are icy.

      Technically, Keynes envisioned countercyclical action — deficit spend when the economy slows, back off when it heats up. Our genius central bankers totally “forgot” about the latter half of the strategy. It’s possible to think that a little here and no so much there was a half way reasonable approach but, QED, politicians will screw up a tuna sandwich. It’s the way of the world or, more accurately, the way of democratic politics that can never be changed. The bus HAS to be driven through the front door. No exceptions.

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