The Moment When The San Francisco Fed Finally Figures Out What “Debt” Is
The San Fran Fed, in addition to being the lair that hatched the current Fed chairmanwoman, is best know for spending millions in taxpayer funds to “contemplate” such profound topics as:
- “Is It Still Worth Going To College?”
- “How Important Are Hedge Funds In A Crisis“
- “Is Structural Unemployment Is On The Rise (Says It Isn’t)”
- “Are Tumbling Existing Home Sales Due To “Rising Rates“
- “Is A Recessionary Relapse Is A Significant Possibility Sometime In The Next Two Years“
- “Easy Credit Leads To Increase In Household Borrowing“
And let’s not forget “San Fran Fed Spends More Money To Justify Colossal Failure At Anticipating Consequences Of Its Actions.”
So today, in the latest example of misappropriation of millions in taxpayer “R&D” funds by a Federal Reserve bank, has released a note titled, mysteriously enough, “Mortgaging the Future?” unleashes the following shocker: “Leverage is risky.”
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This coming from the institution that monetized $3 trillion in US debt, and whose balance sheet will never be unwound without a global market crash so profound it would likely lead to a global war?
Why yes. That’s right.
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So for all those curious to learn just how stupid the Fed is, and desperate for laughter in these centrally-planned times, here are several excerpts of deep intellectual work from what according to many is the most important regional Fed in the US (now that everyone is aware Goldman Sachs is in charge of the NY Fed and is scrambling to limit the vampire squid’s domination over the world’s most levered hedge fund in the world):
…click on the above link to read the rest of the article…
