The Atlantis Report
Premiered Jul 19, 2021
Inflation is absolutely out of control. The pressure building on rates is going to blow the Fed’s lid off the pressure cooker eventually. Housing, the number one expense, is up about 50% in the last year or so based on pending offers I’m seeing now. It takes time for the data to flow through the system. Once it does, even the fed will have to address it with higher rates.
The Fed is spending $336 million every 60 minutes buying bonds, while the US federal government is spending $875 million every hour this year”, a staggering amount made possible only by the recent merger between the Fed and Treasury which ushered in not only helicopter money but its socialist offshoot, MMT. It’s also what so many monetarists argue is behind the recent surge in inflation, because Milton Friedman said best, inflation is always and everywhere a monetary phenomenon.
Inflation is starting to weigh on consumer confidence and spending.
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