The Fed is in full panic. Their efforts have had no effect to reverse what is rampant DEFLATION of the money supply, ie no new debt (money) is being created. The fiat money machine is now running in reverse and will soon reset to zero.
Cash is king. A very foreign concept to a debt ridden society. And did I mention that it is dangerous to be in debt up to your eyeballs when cash is gaining in value after a 25 year period of inflationary expectations ?
“The Fed is in full panic. Their efforts have had no effect to reverse what is rampant DEFLATION of the money supply, ie no new debt (money) is being created. The fiat money machine is now running in reverse and will soon reset to zero.”
Interesting take on it. I think it will be a surprise for the political leadership when this “stimulus” payout is not spent by a lot of the people who receive it. Add to that a continuing contraction in consumer credit and things get down right deflationary.
Gosh..you know it turns out that people who are in hock to their eyeballs are actually credit risks.