“I’ll Begin In Broad Strokes...”

“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” [Unsubscribe]( [Wiggin Sessions] June 16, 2022 “I’ll Begin In Broad Strokes…” “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” – F.A. Hayek [Addison Wiggin]Dear Reader, Years ago, I was working with John Papola, a filmmaker from Austin, Texas.. He had created this video: [Click here to learn more]( [Fear the Boom and Bust: Keynes vs. Hayek - The Original Economics Rap Battle!]( It’s relevant today to the Fed's rate hike. Unless you were ice fishing in Siberia you saw the Fed raised interest rates by 75 basis points. “Price inflation is raging,” Christopher Leonard told us a few weeks ago. His book [Lords of Easy Money]( described accurately what’s happening right now. I'm sorry. It's going to force the Fed to hike rates and normalize to fight inflation and force the Fed to let those asset prices drop in a way the Fed hasn't been willing to do for years. Or the Fed just allows this price inflation to continue and embed itself in the economic system. [our emphasis included]. Leonard continued: So that's why we're in such a dilemma right now, in such a tight spot is because Jay Powell knows if he were to hike rates to 3.5%, which is historically normal and draw down the Fed balance sheet... The Fed balance sheet is at nine trillion. If Jay Powell's to draw down to five trillion, which by the way is higher than it ever reached in the previous decade, there'd be a total financial market collapse. Complete collapse. So that's why they're having such a hard time figuring out what approach to take, how quickly to hike rates, how quickly to draw that balance sheet down without causing a massive downward readjustment in asset markets. Adulation of the Fed and bankers ain’t a good way to go here. Follow your bliss, [Addison Wiggin] Addison Wiggin Founder, The Wiggin Sessions P.S. “Just about everything that they propose and believe,” says James Howerd Kunstler, as he described “the capital L left, every so-called principle that they have is at odds with reality or isn't true… including a lot of the the popular ones, the kind of simple-minded ones that they're just using to punish the public, like forcing us to pretend that men can be pregnant and then punishing people who disagree with that. “This is an insane mass formation Jacobin mindfuck. And unfortunately, it is in the nature of mindfuckery that the people who get mindfucked don't understand that they are mindfucked, and that's what you've got out there. And that's why you can see absolutely contradictory ideas right in your face and they still make their policy choices in the face of those things.” [Click here to learn more]( [To see and listen to James Howard Kunstler, click here.]( A portion of Jim’s comments: For example, it is now clearly established that the mRNA COVID-19 vaccines don't work. We know that they don't work. People who take them are now even more susceptible to COVID-19 than the people who didn't take them. So we know they don't work. Moreover, there's a tremendous troubling record now of harms and injuries and disabilities and deaths that have been inflicted on people by these vaccines. And yet, you still have the authorities in the Democratic Party run government, promoting vaccinations. What could be more insane? And it's beginning to look more and more like a deliberate attempt to murder the public. And I think personally that the numbers are going to rise and people are going to be shocked. And even many of the people who are in that psychotic mass formation and who have fallen for all of the narratives, I think that many of them are going to see what's actually happened and there's going to be just a ferocious reaction to it. Bezos, Musk, and Yellen Planning Behind the Scenes [$150 Trillion] [Click here to learn more]( While most Americans were distracted by mainstream media headlines predicting a stock market crash… PhD Investigative Journalist Nomi Prins found evidence that shows the elites are spending trillions of dollars to “transform” the economy. Jeff Bezos and Elon Musk have pledged billions of dollars to make it happen… And Treasury Secretary Janet Yellen is working with 131 countries, 234 cities, and 695 of the world’s biggest companies – including Bank of America, Nike, and Exxon Mobil – to overhaul everything about the American way of life. [Go here right now to see what it means for your family and your money.]( Ed. note: Got something to say? 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