The fact that we are to monitor every Fed speech, even assholes from Kansas, has me sick to my stomach. These people are incorrigible and beyond reproach. The audacity and self aggrandizement of the Federa Reserve is at a level that has never been seen before. It’d as if they had total control of the U.S. economy and our legislators were on permanent vacation.
When was the last time we heard anything from the fiscal side? It’s financial engineering all day, every day.
At any rate, the most important Fed head, next to Yellen, gave a speech at the University of Bridgeport (really?) today, citing disinflationary pressures and the need to chill the fuck out on the rate hike, or ‘normalization’, rhetoric.
Futures extended their gains on this news.
“I judge that a cautious and gradual approach to policy normalization is appropriate,” said Dudley, a close ally of Fed Chair Janet Yellen and a permanent voter on policy.
Caution, he added in a dovish tone, is needed “because of our limited ability to reduce the policy rate to respond to adverse developments, recognizing that we could also use forward guidance and balance sheet policies to provide additional accommodation if that proved warranted.”
“Although the downside risks have diminished since earlier in the year, I still judge the balance of risks to my inflation and growth outlooks to be tilted slightly to the downside,” he said at University of Bridgeport.
Low oil and commodity prices “may signal more persistent disinflationary pressures than I currently anticipate, while renewed tightening of financial market conditions could have a greater negative impact,” Dudley said, while “there is significant uncertainty about economic growth prospects abroad.”
Happy Friday.
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Absent total control of all private property, propaganda is the only tool left to the central planning cabal. And “disinflationary”? Geez, they can’t even say the real word: deflationary. It’s like garlic to the vampire.
“It’s as if they had total control of the U.S. economy and our legislators were on permanent vacation.”
Yes, it certainly is.
If “all” the Fed has is propaganda, prepare to experience whatever it is the Fed wants to see. Propaganda rules.
We have 2 Right Wing dominated Houses of Congress, and most governorships and state legislatures are GOP dominated. And so was SCOTUS until Scalia died. This is occurring, despite the fact that the GOP works so poorly for voters that the Republican front runner in the race for pres is the outsider candidate who used to be a Democrat in the past.
Why do we have such heavy GOP control, despite the fact that the GOP doesn’t give voters what they want? Because we are immersed in Right Wing propaganda. And propaganda works.
So if the Fed is using propaganda as their sole tool, that’s smart of them, and they easily will get whatever they want with it.
No, we are immersed in Koch Bros funding at the grassroots level (Tea Party, Americans for Prosperity) which has yielded spectacular results, aided in gerrymandering, and stomped the Democrats since their base only seems to vote every four years. See 2010 and 2014 elections for details.
What do you think the Koch brothers funding is used for? Propaganda. Think tanks like Americans for Prosperity are actually propaganda tanks.
You are right that gerrymandering plays a part, as does the fact that Dems are influenced by the don’t-vote propaganda. Don’t vote propaganda says things like “Both parties are the same. Your vote makes no difference. If voting made a difference it would be made illegal.” This is propaganda is aimed by the Right Wing at Left Wingers. And it works. In the 2014 election, 63% of the voters stayed home.
Propaganda has large numbers of people convinced that they can only vote for someone who has an R behind his name. In the past, when Trump was a Dem, these same people would not have voted for exactly this same person. If he gets shut out through a brokered convention, and the R behind his name is removed, I guess these same people will not vote for him if he runs as an independent.
This illustrates the amazing power of propaganda.
So if the Fed is using propaganda, they will most certainly win the day.
Isn’t the University of Bridgeport owned by Rev Sun Myung Moon’s religious empire?
Bridgeport’s wikipedia page says this. PWPA is an affiliate of SYM’s Unification Church. Apparently they’ve had strong connections with them and still do, although they have remained non-sectarian throughout their history.
“Since 2003 the University has been financially independent from PWPA after having received funding from the PWPA from 1992 until 2002. It has remained non-sectarian throughout.”
Some churches, after they make a lot of money, just seem to go into real estate investment. Maybe that’s easier and more lucrative than spending time finding new converts.