There is No Inflation - What? - So Says Powell at the Fed

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Powell says there is no inflation. I guess he hasn't tried buying real estate recently. Just for the record, the Fed changes what is in the Inflation Index whenever it suits their needs. There is nothing so dishonest as changing definitions on people without telling them you are doing that.

If anyone here thinks real estate is cheaper today than it was a few years ago, have a nice glass of wine, relax and get a grip.

Why does this blatant dishonesty matter? 

1. Because the Fed can't print more money if the inflation rate or if interest rates get too high. 

2. Without more printed money, people don't get stimulus checks, and the political elite can't reward their high dollar donors with very large contracts.

3. When people don't get stimulus checks they have to go back to work to eat and that causes discomfort. People who are in discomfort are not easily controlled by the government and they riot for food. Take your pick.

4. So, the inflation is passed on to the real estate, gold, silver and asset sectors. Which personally I have benefited big time from. 

5. But it causes a huge gap between the "haves" (those who are asset based), and the "have nots" those who try to save in 401k's, IRA's and other cash based "investments" like the stock market. I know, I know, the market will always go up, until it doesn't.

6. The Dodd-Frank law allows the government to take your money in a "bail in" if it is in savings, a 401k, IRA or any electronic transferable condition. Take Greece for example, they closed the banks on a Friday, did a "bail in" on people's accounts over the weekend and people lost a LOT of money over the weekend. A "bail in" is used to pay off Government debt. Remember that stimulus check you got? It's borrowed money and it has to be paid off. No free lunch here.

7. To keep that from happening to you, it's best to store your wealth in assets. Sell the assets to buy other things when you need to. 

8. "Bail Ins" happen quickly and without warning. 

So, maybe according to Powell there is "no inflation" (except in hard assets) but there are other, more obscure things at play. And it isn't good for your pocket book. 

Oh, and there is no medically provable benefit to closing down the economy. Look at Florida.