Reassurance from central banks is only emboldening investors to add to their risks. When Powell attempts to explain his continued actions, many of us who pay attention to such things cry “Bullshit.” Not only is the current Fed policy uncalled for but it does little to strengthen the economy or address our problems. What it will do is continue to prop up asset prices and encourage risk-taking and malinvestment.
Much of the carnage taking place on Main Street is being ignored. Add to this the fact that much of bitcoin’s surge is attributed to growing inflation expectations based on the debasement of currencies. The economy we are witnessing is constructed on a foundation of growing debt. More on this subject in the article below.
The destruction wrought by the draconian lockdown was in no way warranted by the “threat” of the pandemic whose dimensions and mortality were initially anything but clear and only marginally more so now. (Ever wonder what happened to the garden-variety flu?) The approach was identical to saying “highway automobile fatalities therefore bicycles, shanks mare, and public transportation.” No discussion was tolerated — and I do mean NO discussion — that related to such obviously useful alternatives as hydroxychloroquine, zinc, and vitamin D, mortality risks, the efficacy of masks, or what might be a rational civilizational approach to risks versus benefits of any courses of action. I’ve seen more insightful and principled discussions of astrology.
Instead we ended up with NO national exercise in gathering and organizing data so that there could be a focused, coherent statement of what exactly we were facing and what alternatives there were. At SOME point the data started to come in but good luck finding any kind of an scoreboard. What we had instead was the enshrinement of the headless chicken approach adopted on day one of “the crisis.”
The arbiter of our “approach” was one Anthony Fauci whose understanding and expertise are not all that clear at this point. Certainly, it is not clear that he should have commanded the heights of the national “conversation” (spit) on Charlie one niner. But there he was.
So the conclusion is inescapable that there was no honest search for understanding and selection from identified alternatives but rather the pursuit of an agenda of destruction. Sherlock Holmes to the rescue on this disturbing point. Namely, when you eliminate the notion that what was done was an honest attempt to pursue the best policy possible that rationally balanced risk and reward, what you have left, no matter how unlikely or implausible, is The Truth. And that inescapable truth is that there was no honest attempt to devise a salutary approach to this odd viral invasion and the approach chosen was to designed to devastate the United States, throw millions out of work, destroy millions of small businesses, increase citizen dependency, wreak economic havoc, and make a mockery of the Bill of Rights. Add in the fiscal and monetary lunacy, the destruction of one-third of our industrial base from off-shoring, and the ludicrous pursuit of foreign wars and the chimera of “leader of all the world” and the agenda of malevolence is clear.
If it’s still not clear, ask yourself if you wanted to maximize the destruction resulting from this phenomenon loosely described as a “pandemic,” what exactly would you do differently from what ended up being official policy?
Comment by Let It Go on  “Global Billionaires’ Wealth Increase By $4 Trillion During The Pandemic.” By Tyler Durden, ZeroHedge, 4/11/21.