Category Archives: Federal Reserve
Biden Goes Big with Itty Bitty Mandate
President Biden goes big with Franklin Roosevelt style spending. Democrats Ed Markey and Jerry Nadler even have a Supreme Court packing scheme. But what did FDR have that Joe Biden doesn’t have? A Depression. A world war. And a gigantic mandate.
Fed Funny Money Ink Shortage Worries
If you’re wondering if there’s enough ink to print all the Fed funny money needed to finance our $28 trillion federal debt, relax. Pipelines are open and tankers are steaming to the rescue through the newly opened Suez Canal.
President Biden just signed another $1.9 Trillion Covid relief bill and now he’s working on a $3 trillion infrastructure plan. No worries says Fed Chairman Jerome Powell. Treasury Secretary Janet Yellen is selling bonds and he’s buying.
Locked Down Traders flush Wall Street Elite
Locked down, lost your job? Have some fun flushing a hedge fund.
I ran across this update on an old prank in Thursday’s Wall Street Journal:
On Discord, in a chat room linked to WallStreeBets, a user on Tuesday posted, “Guys, we need to pump $GME. Everyone buy 1000 shares in exactly 60 seconds.”
WSJ, Individual Investors Rout Hedge Funds, p. 10, 1/28/2021
Shared Famous Last Words: I Can’t Breathe
George Floyd isn’t the first guy whose last words at the hands of the police were “I can’t breathe.” Eric Garner said the same in 2014 as his breath slipped away while being choked by a cop.
Famous Last Words
Both men were big and black, and protests and riots soon followed. But that’s not all they had had in common. Garner was busted for selling single untaxed cigarettes. In Floyd’s case it was passing an allegedly fake $20 bill.
The Fed has printed fake money to the tune of $3 trillion just since the beginning of the Covid-19 pandemic.
Maybe racism isn’t the only thing here to take your breath away.
