For the latest confirmation of just how trapped in a corner of its own making the Fed now finds itself, look, or rather read no further than the presentation given moments ago by St. Louis Fed president James Bullard before the CFA Society in St. Louis which was circular, confusing, illogical, and thus a splendid summary of the Fed's "thinking" from beginning to end.
Maybe because between the specter of defaulting in under three months, the threat of handing over its gold to Deutsche Bank, or the reality of rampant hyperinflation and a collapsing society, the already crushed population of Venezuela did not have enough things to worry about, moments ago Venezuela's Nicolas Maduro unveiled a double whammy of "shock and awe" when the socialist president not only announced the latest devaluation of the country's official currency, but also presented his countrymen with the first gasoline price increase since 1996.
One week ago, we were delighted to report that Australia admitted that its glorious, 6 and 8-sigma outlier job numbers from October and November, were nothing but a "technical issue" glitch, in other words, one big political lie.
Specifically it was Treasury Secretary John Fraser, who admitted during testimony to parliamentary committee that jobs growth for the two months in question "may be overstated." What's the reason? The same one the propaganda bureau always uses when its lies are exposed: "technical issues",
Seriously - how many more times can a central bankers' policies be exposed for the total sham that they are?
“The turmoil in global markets is making companies cautious about spending and also weakening global demand. That will be negative to Japanese exports,” Hiroaki Muto, chief economist at Tokai Tokyo Research Center in Tokyo, said before the trade report was released.
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
Laws are effective only to the extent they are enforced. A law on the books has little impact if prosecution is highly unlikely.