Can the Fed Manage This Economic Crisis?


Some point, as I've been warning about for now what? Two years with all of you, I hope you've been listening clearly the folks over at Silicon Valley bank were not listening to this podcast. If they had, they would have known that inflation would be here, and that you would have higher rates. And that there would be consequences associated with that. While they weren't listening, they just drank the Kool-Aid all their friends there, like Powell and yelling and Biden, you know, this was a lot of people with group think that thought somehow the fed would be able to manage this. Come on, I'm looking wound inflation. I have predicted double digit inflation, which we did see on the producer price index, but at one point we were up at 9.6% on consumer prices. That is a lot. I mean, people are hurting because wages have not gone up the way the price on everything else has. Everything's gotten more expensive and as I've explained before, once a staff, once this stuff starts to take root, it's very, very hard to stop. The train is left the station, so to speak. So inflation is here, we got the number yesterday showing consumer prices up 6% from where they were last year. So we've got problems. The fed has to fix this, but when they try and fix it, look what unfolds. And so now they're frightened. Can they fix inflation while simultaneously avoiding a massive bank failure of epic proportions that could have a disastrous effect on the economy for years to come. This is why they did what they did on Sunday Night because had they not believe me. None of us would have been able to get any of our money out of the bank. It actually would have been really, really bad. But could it still get bad? I mean, these are the questions that were sort of debating right now. It feels as though the system has been at least temporarily nationalized.

Coming up next