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Like The Dance Band On The Titanic, The Band Plays On

Like The Dance Band On The Titanic, The Band Plays On

As The Ship Goes Down The Band Plays On

It is said the dance band on the Titanic played on as the ship went down. This was all done as a grand effort to reassure the passengers and ease the panic in their hearts. Consider the possibility that behind all the noise we hear today a similar effort is being made to comfort us and take your attention off the hopeless feeling that comes when things sink away beneath your feet. For the last several months I have come to feel a similar story is playing out here. The Biden-Yellen-Powell economy is less than inspiring.Looking back, it is clear the Fed’s policies have hurt savers, It has caused savers to flee towards riskier investment in search of higher yields, driven speculation, increased equality, add added to inflation. Rather than using the bully pulpit and warnings of higher interest rates to keep government spending in check, the Fad has acted as an enabler to the crowd in Congress that loves nothing better than to sending taxpayer money back home calming it is a gift and proof they are “working hard for their district.”

With historically low-interest rates, rising inflation, and many consumers struggling to make ends meet. The economy is at a place where there is not much capability to increase consumption without throwing money from a helicopter and massively increasing the national debt. The problem with that is such stimulus programs are poorly focused. As we look about in this post-pandemic covid-lite era we see supply chains crumbling, stagflation mounting, and jobs being lost to automation. These are all immense problems even in the best of times.

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