ALERT! The Federal Reserve Just GUARANTEED MORE/HIGHER AND SUSTAINED INFLATION! JPM WARNS On Crude.
From Greg M
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Yet, after $5 trillion of stimulus injections in 2020, economic growth is once again collapsing.
A Broken Transmission System
The desire to use “debt” to cure the “economic illness” seems logical, particularly when viewing it through the political lens of “getting re-elected.” However, the “cure” keeps the patient on “life support.”
The policies enacted, be it stimulus, quantitative easing, or bailout programs, fail to create sustainable economic growth because they are debt-based. Using debt to drag forward future consumption only leaves a void that must get filled in the future. Most importantly, the use of debt for non-productive investments, like a stimulus that has a one-time effect, is the debt service that then absorbs future revenues.
The view that “more money in people’s pockets” will drive up consumer spending, with a sustainable boost to GDP, is wrong. It has not happened in 40-years.
What gets missed is that things like temporary tax cuts, or one-time injections, do not create economic growth but merely reschedules it. The average American may fall for a near-term increase in their take-home pay, but any increased consumption today will be matched by a decrease tomorrow when the stimulus ends.
Consumer confidence continues to weaken despite a booming job market, higher wages, and a surging stock market