jerome powerll
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., Sept. 26, 2018. 
Andrew Harrer | Bloomberg | Getty Images

Jerome Powell aka J Powell, finger blasted the stock market in Q&A at the “prestigious” Economic Club of Washington via talks on the Fed balance sheet, explicitly saying:

The Fed “balance sheet will be substantially smaller that it is now”, and is it that “substantially” that triggered the weakness.  

But the Fed is just talking up their asshole. They don’t know what a more normal level is. Powell said, “it will be smaller than it is now, but nowhere near where it was before.”

What a bullshit answer. Apparently the economic models the monkey’s run in the back office were down for the day.

Even worse though, J Powell said he is very worried about the amount of debt the US has.

That is great he is worried. But it is beyond time to be worried. Worrying was like $10 trillion dollars ago. Now is time for complete panicking.

Chris Lau, Seeking Alpha contributed butted in saying:

“10 years of kool laid requires 10+ more years of mopping up the liquidity.”

Even with ten thousand mops, we think it is beyond cleaning up. The only way to clean up this mess is to print an assload of money and let inflation soak up the kool laid.

 

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