Phony Intellectual Posturing Justifies Screwing that Was Always Going to Happen

It was only a matter of time before the Keynesian Doves at the Fed abandoned all pretense of prudence and went the Full Monty - seeking to abandon the constraint of inflation targets and institutionalizing the low-interest rate assist they have been giving to BIG GOVERNMENT.

Federal Reserve Bank of San Francisco President John Williams called for monetary and fiscal policy makers to rethink the way they operate, saying America is getting a taste of a new economic normal that warrants a change in orthodoxy.

This is the monetary policy equivalent of Jimmy Carter's malaise speech.  Don't believe me?

He’s also the second Fed policy maker in two months to suggest a major break with how the U.S. central bank conducts itself. The St. Louis Fed’s James Bullard on June 17 announced that he would stop submitting long-term economic forecasts and lowered his rate projection to one hike in 2016 and none during 2017 and 2018, based on his thinking that the economy is in a new, low-productivity and low-growth regime.

Never mind that the Lightworker has saddled us with $8 trillion more in debt and tied us down, Lilliput-like, with ObamaCare, Dodd-Frank and the uncertainty of gangster government...it's your fault, lowly American worker, you just ain't that productive anymore.  Thus, your retirement savings can earn you BUPKIS!!

All is proceeding as I have foreseen.  The Leviathan is gobbling up the resources of the private sector as fast as it can, hooking vast segments of society onto the government teet, paying for it all with gobs of debt that they intend to inflate away.  Here and here are just a smattering of my calls.

Inflation is coming because inflation is how we avoid collapse.