Why the Fed Has No Clue What’s Really Happening in America
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I got an idea for a new show. It’s in the line of kind of like HGTV or like Bar Rescue or you know some of those restaurant shows where they fix things up. For me, I can do all around. I’m just going to be Central Bank Makeover. Central Bank Extreme Makeover. I got to come up with a name for it quite frankly, but you know I can go from Central Bank to Central Bank around the world and fix them.
I’m laughing. I have to talk about Powell and the Fed and everything that you thought you knew about central banking. Some of the statements made by Powell, I mean, didn’t jive with. And again, it’s almost as if it’s seriously that they have some sort of like wheel that they spin and wherever it lands on, they’re going to head in that direction. I’ve been going after
our central bank in particular for a very, very long time, going back to Alan Greenspan in 1996, talking about irrational exuberance and yeah, things started to get out of control, then they went parabolic. He gave lip service to raising margin requirements at that point in time. I can go through one folly after another most recently with the Federal Reserve with, yeah, it’s not really inflation.
It’s going to go away. It made no sense whatsoever. Not to mention the fact this nonsensical idea, it’s again, it’s conventional wisdom. The lie has become the truth where we’ve been told that there’s been little to no inflation for a very long period of time. We’ve lost over 30 in 30 years, we’ve lost 55 % of your buying power.
with the dollar 55 % yet you you throw on a television you listen to these economists that work at the Fed they parade them on they talk about their numbers and 2 % targets and all this stuff. At some point in time, you’ve got to understand that there were just gaslighting, they’re lying to you. How are we able to understand and get our arms around the what’s happening in the economy? And this is how
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I get out to explain this to how I would do my central bank makeover. You know, we’ll start with our central bank. Okay, so everybody’s familiar with. I would take those 400 plus economists that work at the Fed with their fancy pants degrees from fancy pants institutions or supposedly the smartest people in the room. I’d go in there. Like I said, you think about it, you know, when you watch Bar Rescue,
When the guy goes in there and he just starts tearing things out and change it. That’s what I do. Okay. I would basically go in. Okay. I would take away all of their algorithms, take away all of their algorithms, all of the nonsense that they use, all of their stupid surveys. And I’d give them backpacks. I tell them to go home, pack your backpack. I’m talking about those, you know, those hiking backpacks. People see people walk in the Appalachian trail and I’d send them out.
Send them out. On the show, it’d be great. You what we could do? We could play that song from Simon and Garfunkel, America. You know what I’m talking about? It’s great tune. Send them out. Send them out to every corner of the country and actually have them speak to people. Talk to small business owners. Talk to people from various different economic strata, walks of life, rich people, poor people, middle class.
And ask them, talk to them. They’ll tell you what they’re thinking, what’s happening on the ground. You economists, you wall yourself in these real, again, got a $2 billion renovation there in Fed building. You wall yourself in and you don’t have a clue. we’re relying upon the data and the data’s bad that we’re getting from the government. Why wouldn’t the data?
be bad. It’s always been bad. Do you think business owners have time to answer stupid surveys? They’re not forced to do so. They have so many labor department all that, you know, the data that they collect. I remember one time I got a phone call. And they’re asking me I wrote the time is under Obama was asked how many minorities I had working at Markowski Investments and I got kind of ticked off. Kind of made a fancy well.
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I told the person that I was blacker than Obama in the summertime. They said, do I count too? Anyway, neither here nor there. It doesn’t make any sense how you go about gathering this data. And you don’t need to. You got this 400 of you there. OK, get out. See the world. See the country. Go visit people. Go to Alaska.
Go to Y, go to Albuquerque, go to Boise, go to Albany, go to all these corners of the country and talk to people.
our data is better. That’s why.
That’s why we’re able to tell you exactly what’s going on. But what has been our position going back to 2,025 years? Stagflation.
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Am I wrong?
Am I wrong? yeah, we’ve had points in time of growth, but growth has been muted. And yeah, we’ve had a ton of inflation. Well, you’re told that there’s no, no, no, no inflation. The government statistics tell you that there’s no inflation. It’s like going outside and the rain is pouring on your head and the weatherman is saying, it’s sunny and beautiful outside. people go along with it.
because some expert, so-called expert told you on TV, you know better. We’ve been talking about this do-it-yourself economy. You do a lot of these things on your own. You have a better gist of what’s going on than they do, quite frankly. But yeah, yeah, I think it would make for an interesting show. Chris Markowski is the host of Extreme Central Bank Makeover. Watchdog on wallstreet.com.
