by Tom Luongo, Tom Luongo:

In the face of the Fed’s intransigent hawkishness we are now on the verge of exposing the worst lies of two generations of people in power.  I’ve maintained for more than a year now that the global oligarchy known here as The Davos Crowd thought they’d run the table on the US and the UK with COVID-19.

The various bailout packages, Pelosi’s CARES Act and pending legislation — Build Back Better, etc. — were supposed to destroy the fiscal position of the US once and for all. These were political blackmail to force the Fed not to raise rates when it clearly needed to.