8 Comments
Jun 13, 2022Liked by Occupy the Fed Movement

“The median asking rent in the U.S. during May was $1,995, a 26% increase from last year, Dwellsy said.

Median rent accounted for more than a third of pre-tax median income, at 36.4%”

So contrary to what some people might think, your posts are careful not to overstate anything.

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Jun 15, 2022Liked by Occupy the Fed Movement

Now we are in JPOW’s horrible half hour. Breaking from precedent, he has a press conference after every Fed meeting. But not right away after the announcement. He waits a half hour. What is he doing during that half hour? Very unlikely that any significant news on inflation, the economy or even world affairs will occur in that half hour. What will happen for sure is the stock market will react to the Fed announcement. Does JPOW see this? You bet. A repetitive pattern is that the market goes down. Then JPOW stands up. And says something that causes the stock market to rebound. Something to reassure the market that unprecedented loose monetary policy (and unprecedentedly inflationary monetary policy) will continue for some time. And the market rebounds.

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Jun 15, 2022Liked by Occupy the Fed Movement

In case you missed it, this from the New York Times today (even though they are one of many who blame anything but the Fed for inflation). I know you have referenced this.

“Inflation might actually be even higher than economists think. Last week, the National Bureau of Economic Research published a paper that argued we may be underestimating inflation. Larry Summers, a Harvard professor and former top Obama economic adviser, was one of its authors. Some economists have taken comfort in the idea that inflation is running at an 8.6 percent annual level, still considerably lower than the peak of just under 15 percent in 1980. But the paper’s authors point to changes that the government made to the way it tracks consumer prices in 1983. If you apply the current methodology to economic data from 1980, it shows that prices were rising at about 9 percent annually, they argue. And if you apply the 1980 method to today’s data, you will get a rate that is pretty close to the 1980 peak.”

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The 10 year back below 3% reeks of Fed intervention again to juice the stock market and the 1% at the expense of the 99%. It will be very interesting to see what the Fed was doing buying treasuries (how much) June 30 and July 1. They should be buying none with inflation at 8.6% (in fact, they should be selling, maybe selling the $120 billion/month they were buying for 2 years to release the kraken of inflation). But how many tens of billions did JPOW buy?

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We just incurred 8% YOY inflation...

and the Fed Chairman STILL speaks of adding another 2% onto the 8%!

In other words, these NEW punitive prices will be welcomed in 12 months, with an additional 2% tacked on. That is the victory Powell speaks of.....the goal? WHAT?

The citizenry can't handle that. (savings depleted, credit card balances surging)

How about 0% or negative inflation rate to ROLLBACK this spike? We just had 4 X's the Feds 2% "goal" packed unexpectedly into one year, and the Fed doesnt alter its inflation "goal"?

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"Well, the FED (with the help of no-bid contractor BlackRock) proceeded to buy $42.3 BILLION in US Treasurys and Mortgage-Backed Securities in just the first 9 days of June!"

Would enjoy some proof of Blackrock STILL working with the Fed. Got any?

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I would love some further information on the recent activities of the Fed and Blackrock working together. I was told their relationship ended long ago. Are they still buying paper for the Fed?

And if so why?

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