Sometimes I get the feeling that we are the brunt of some big cosmic joke. Today's edition of it is where Ron Insana tries to argue that removing the spiked punchbowl from a credit bloated economy is irresponsible. As you can read for yourself, Insana states that today reminds him of 1937 whereby, just having bounced from the first wave of the great depression, authorities (in his mind) made the disastrous move of raising interest rates, thus invoking the next wave down.
Insana parrots the fed-wisdom that a little continuous inflation is good even though anyone who knows how to do high school math will know that anything that happens at a fixed percentage increase per year is an exponential function. At some point, the chart is pointing straight up even though trees can't grow to reach the sky. So when the eventual peak ponzi credit limit is finally hit, the arm chair quarterbacks blame the con men for making policy mistakes which cause the crash.
In truth, the policy mistakes that will eventually demand a massive crash are made well before there is any sign of a bubble. In fact, because it represents an exponential function, mandating 2 or 3 % annual inflation is such a policy. Insana is guilty of believing that the policy makers actually control the economy instead of being the great economic distorters that they actually are. He acts like those in charge of the grand scam back in 1937 were idiots who chose wrongly instead of just being con men faced with no other choice.
Insana calls for more inflation despite the rising civil unrest and the real threat of a pitchfork revolution that, this time, will be augmented by AR15s and more should the people choose to rise up against those who would oppress them. Anyone who doesn't want more inflation is clearly wrong according to him even though record numbers of people are on food stamps and (fraudulent) disability these days.
Is there a reason that Ron Insana's last name is so close to the word "insane"? Is it related to the reason that Mario Draghi's last name is so close to the word "dragon" and that the dragon is a symbol of the global elite? Of course I would not know but sometimes it seems like some big cosmic joke that we have to endure.
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