Jerome Powell on Stagflation
“I don’t see the ‘stag’ or the ‘-flation’,” Fed Chairman Jerome Powell said during his Wednesday address. Powell believed inflation would be “transitory.” He believed that the economy would come [...]
QUESTION: Mr, Armstrong, Just how stupid do these leaders really think we are? The ECB Governing Council member Ewald Nowotny said there is no banking crisis. “We are in a transition and learning process.”
KR
ANSWER: Well they think we are stupid, and the press is either brain-dead or corrupt. It is unbelievable. However, if we are in a “learning process” through the mess, isn’t that admitting they do not know what they are doing?