It’s Not As Obvious, But Stocks Are Tipped More Toward ‘Deflation’, Too

You have to laugh at the absurdity of the puppet show theater. A few months ago when bond yields backed up a little bit, as they do from time to time, everyone from Bond Kings to Dollar Crash-ists to Economists to just about every writer at the Wall Street Journal and Bloomberg became fixated on yield caps (or yield curve control, if you prefer the extra helping of myth).

And why wouldn’t they? Given the existing intellectual paradigm which posits the central bank at the center of the economic universe, Jay Powell hadn’t just saved us from GFC2 he just may have overdid it. Inflation had become, they all said, our primary danger. Forget the huge economic and financial crater that were in, the Chairman of the Federal Reserve had explicitly declared a biblical-scale flood. Read more…..


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