Monday, October 26, 2015

Do you think David Stockman dislikes the 2% inflation meme?

bogus 2% inflation target

2% inflation is a purely religious proposition

central banker view of consumer inflation is just brain dead ritual incantation

Indeed, the 2% inflation meme is so threadbare that it needs to be called out for what it is. It’s a convenient cover for the radical usurpation of power undertaken by the world’s central bankers during the last two decades. And it survives only because it serves the interest of Wall Street gamblers and the world’s politicians and fiscal authorities alike.

The latter get to run up endless public debt because the central bankers buy it up under QE and drive the carry cost virtually to the zero bound. Likewise, the top 1% of financial gamblers cannot get enough of the 2% inflation hoax because it means free carry trade money as far as the eye can see.

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