Juiced data coming out of the Ultimate Crony Capitalist State? We are shocked.
Either we continually prime the pump, keep interest rates at extraordinarily low levels and do all sorts of other central bank magic, or we fall into depression? This is basically what the Minneapolis Federal Reserve president said recently.
When I was a small child we lived in the United Kingdom for a couple of years just before the Thatcher revolution. In the years afterward, after we were back in the states and I was a bit older I can remember my parents talking about how colossally messed up Britain was economically. The 1970s weren’t great for America, but for our friends across the pond they were far worse.
The tone of the Federal Reserve has shifted a bit. Is it broadcasting a new tightness? Maybe. We’ll find out soon enough.
Just a few weeks ago many leaders in Europe were talking about the end (or at least the beginning of the end) of the Eurozone crisis. It now appears that was wishful thinking at best. Now even mighty Germany is starting to suffer.
This is what happens when the dollar is backed by “the full faith and credit of the United States” and not the barbarous relic. Nixon abandons gold in 1971 and inflation launches skyward. It’s hard to believe that for most of the history of the United States inflation was next to 0%.
The governments of the world are relentless.
Bitcoin is a fully digital, peer to peer currency, which is growing quickly.
The two countries imitate and learn from each other, and we are not talking about science and technology.