MRC: CNBC’s on-air editor Rick Santelli tore apart the Federal Reserve following the devastating report that inflation spiked to 7.5 percent for the highest level in forty years.
Santelli ripped the Fed for its lackluster approach to fighting inflation along with Leuthold Group Chief Investment Strategist Jim Paulson‘s seemingly out-of-touch positive prediction on the U.S inflation outlook during the Feb. 10 edition of Squawk Box. Paulson predicted that inflation will recede from 7.5 percent towards the end of the year down to around three and a half percent and four percent as the economy opens up and the Fed tightens monetary policy.
“I just love what [Paulson is] saying because I don’t really believe much of it, and I agree usually with everything he says.” Santelli then dropped the hammer on Paulson’s argument: “Just because [inflation] came down from seven, the real issue is where it started [two percent], and I think that’s where everybody’s going to fall into this trap: ‘Oh my God lookit! Half of this inflation has disappeared!’ But it’s still significantly higher than pre-COVID!” read more
“It Has ‘Done Nothing!’”
Not so.
They’ve screwed with every sector of the economy with every tool in the DemoDevil toolbox, from medical tyranny to tax policy to strangulation with environmental rules to destroying the supply chain and a whole HOST of things that deliberately wreck the economy, not to mention the lack of confidence generally that having a demented, tyrannical pedophile in charge of both banks and nukes gives the nation and the world just by being who he is.
…I wouldn’t call that ‘nothing’.
It’s actually active malice.
Let’s be honest. The Fed is only part of the problem. The fact that they have kept interest rates at almost 0 has contributed to the problem, and they must raise the rates. The biggest problem is that the gubmint has been spending like drunken sailors for more than 100 years is the root cause. I include all administrations and congress in that time.
The fact that the US is $30T in debt is the problem and nobody has been trying to decrease that.
It appears that the role of the Federal Reserve doesn’t align with their stated purpose. *shocked*
To change the interest rates does nothing about the realities that
the POTUS shits his pants,
half the People seethe in anger and disgust,
and the country clubbing losers locked onto UncleSam’s teats think they can ride it all out whistling past the graveyard….
Raise the rates AFTER you’ve printed trillion$ in cabbage. Brilliant.
7.5% ?
More like 17.5%
When do Americans wake up and realize their money is fake ?
When they can no longer hold down the value of precious metals, that is when the music will get alot louder.
Just paying off the campaign contributors.
Evil is loose in the government, and not just our.
Housing and vehicles were removed from the index of inflation, decades ago. If you factor those back in, inflation would be closer to 20% annually.
To control the sheep you have to take away their “discretionary funds”. If you barely have enough money to eat, you will be way more compliant.
And it won’t get any better.
Is that the New Improved(TM) inflation rate?
Or the Improved New(TM) inflation rate?
$30T isn’t a problem when you know and the debt buyers know that it will never be repaid. It’s fairy dust money conjured on a computer, money that was not saved, earned or risked for.
Anyways like EVERY stat or number the government releases the $30T National Debt amount is bullshit. The Federal Gov has assets of about $6T like National Forests, military equipment, potential fossil fuel leases…things like that.
OTOH the federal Gov has debts or hard commitments of over $129T. These include “publicly” held debt, pensions and small change crap. But don’t forget the SS and Medicare commitments, together about $96T.
That makes the real national Debt not the paltry $30T but over $123T. Just crank up the Xs & Os right?
So please nigga, when you’re pissing down my back with the $30T number, why in the fucking fuckity fuck fuck, should I believe you about a 7.4% inflation rate when I’m watching staples I buy like tuna, butter, eggs….shoot up much higher than that?
“Federal Reserve”
is NEITHER.. AND THERE’S YOUR FIRST CLUE!!!