The Ugly and Difficult Hunt For The True Economy
by Bruce Wilds
Good luck with acquiring a clear view of our economic future. It is shrouded and cloaked under an ocean of often irrelevant facts and figures. Somewhere between what we are told is occurring in the economy and what we see happening on Main Streets across America is the real and true authentic economy. It is ironic that every sign the economy is not getting better only reinforces the idea that the Fed needs to goose things and pour even more fuel on the fire. This is exactly what many of us oppose and consider pure insanity.
This debate continues to polarized those who study the economy and play in the dangerous land of investments. Meanwhile, the failure of a crash to materialize and bring markets back to reality over the years has caused a breaking in the ranks. The songs of the market sirens that promise both wealth and profit has lulled many into complacency. We have reached the point where many of the nonbelievers in current policy are capitulating and joining with those who live by mantras like, don’t fight the Fed, buy the dip, and to the “fear of missing out.” Each day more investors surrender to lure of the markets and buying into what they had only a short time ago seen as the dark-side.
|A More Recent Chart Hard To Find! (Click To Enlarge)|
Surging inequality is not an indicator of economic health and neither is the sign that millions of jobs are about to vanish due to automation. Economic inequality is not only a profound social and economic issue but flows into forces that affect financial-market stability. Unfortunately, current trends indicate we should not expect improvement in economic equality.
|The Spring of 2020 Sell-off (click to enlarge)|
The conundrum we face is how to resolve this toxic mess in the least damaging way. To those of us troubled by the direction the Fed has chosen to take, the massive problem of how to exit the current path remains. Adding to our concern is that rather than warning politicians of the danger involved in spending trillions of dollars on “human infrastructure,” a program that sounds akin to welfare, the Fed has remained silent. Going forward with such spending is likely to yield little other than weaken the dollar and endanger its status.Grant’s Interest Rate Observer founder and editor, Jim Grant, has stated; “I think that the 40-year bond bull market is arguably over or ending and what lies ahead of us is important inflation with rising interest rates.”
(TLB) published this report with permission of Bruce Wilds at Advancing Time blog
Header featured image (edited) credit: People wondering about/Untitled, by George Segal
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