People need to understand that the reason that there is inflation is because of the money supply. I saw for several years they have tried to blame the general population as the cause of inflation - more money chasing goods. Thats bullshit. Do you like paying more for eggs and milk? Come on.

What they dont tell you is the Fed has jacked up the money supply through the ceiling. It didnt start under Biden but it continued and expanded under him. Jacking up the money supply doesnt help Joe Blow but it does help Wall Street and the banks. It didnt start under Biden but rather Obama during the 2008 housing crash. So this shit has been going on for a long time now.

They were shitting themselves that there was going to be systemic bank failure among a ton of banks due to the mortgages and derivatives around those mortgages. How they allowed derivatives to be created out of nothing is absolute insanity.

Under Trump they jacked it up again because they thought the Covid was going to destroy the economy.

Think about it this way - here I am Hillary's Bank, the Fed comes to me and says hey Hillarys Bank we are going to give you money for 0% or close to it? Are you going to take it? Of course you are.

Now that you have that money what are you going to do with it? You are going to invest it in whatever to generate returns because after all its free money. So you start investing it in frozen orange juice.

Now all the other banks like Cornpop Suttons Savings and Loan gets the money at 0% too. So what do they do? They start investing it too. Now there is a ton of free money chasing frozen orange juice.

So the people that own the frozen orange juice raise the prices because someone is willing to pay it. Rinse and repeat who knows how many times. And there you have inflation. The more money they print the less it will be worth.

The Fed's idea to raise interest rates to cool the economy is a bullshit idea from the beginning because it doesnt address the real problem WHICH IS THEM.

With no cheap money companies are now laying people off. The Fed figures by their being higher unemployment it will lower demand because people wont buy stuff. In reality it does shit about the prices of food - you still have to eat, you are just going to pay more. Will you curtail some spending, of course. But mostly you wont have a choice but to pay more.

Companies are now addicted to super low interest rates. Anything about 0% or 1% is the end of the world. But what this also does is destroy our savings and purchasing power.

The Fed is very secretive. Essentially they are not accountable to anyone.

The NY Fed's data center and back office is here in NJ. I have interviewed there a number of times. I always got the sense it was a place the only way you got hired is via knowing someone.