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Susan's avatar

Alex Berenson, like Toby Young of Lockdown/Daily Skeptic in UK, is about to loose his influence by requiring subscription to comment. What had been a sizable, varied, vibrant, and informative comment section, became overnight a dead spot. Young’s blog has not recovered; neither will Alex’.

This blog, Chodov’s and Kirsch’s and many others, are where it’s at!

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dissonant1's avatar

Luongo takes a well deserved victory lap with recap but also with good points regarding the Fed and the present. He has convinced me that yes the Fed wants to wrest control over the U.S. monetary policy from Europe and the steps it has taken are intended to do that.

That said, the Fed raising rates and tightening will not by itself tame inflation - and as Luongo notes, Powell knows this. To truly take care of inflation you need to do something about Energy - specifically, producing and supplying more of the carbon-based variety domestically. Until that is addressed we will be in vicious cycles of recession (from Fed tightening) and renewed inflation (after the Fed "pivot" points). And the Fed WILL have to pivot (eventually) either from the economy grinding to a halt or from the Treasury market seizing up.

What this really means is that to take care of inflation in the longer term, we need to get the Climate Change profiteers out of control of Congress, the big bill deficit spenders out of Congress, and the Biden admin out of the White House.

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