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Business/Finance See other Business/Finance Articles Title: Making Sense Of An Increasingly Insensible World Making Sense Of An Increasingly Insensible World Creating purpose and fulfillment within a failing system by Chris Martenson Saturday, June 13, 2020, 3:12 AM What the heck is going on? I hear this a lot these days. Developments are happening too quickly to process for many folks, creating a persisting cloud of confusion. Even focusing down on any particular single event often gets nowhere because so much of what’s going on simply makes no sense Take for example, the W.H.O. which as recently as two weeks ago recommended that only sick people should wear masks. What? We’ve known for months that people can spread Covid-19 when they are asymptomatic. How can a ‘sick person’ wear a mask if they are sick but even they don’t know that? It just makes no sense. What is even going on? Or take Jerome Powell, Chair of the Federal Reserve, who defiantly declared that the Federal Reserve “absolutely does not” contribute to the wealth inequality gap: Say what? The Fed is busy buying distressed financial assets for far more than they are worth from the largest and wealthiest of stock and bondholders. That absolutely contributes to inequality. So does juicing the stock market, or ““market”” as I like to term it (because it’s so distorted it needs two sets of quote marks). So does appointing Blackrock – the world’s largest private asset manager – to select which private assets should be bought with the freshly-invented currency emanating from the Fed’s electronic printing presses. Should we really be shocked to learn that Blackrock chose their own distressed assets, like the junk bond fund JNK, for the Fed to buy first? It’s a bald-faced lie for Jay Powell to claim anything other than the Fed is the #1 contributor to inequality. And that’s by a country mile. So does Powell even think he can state such an obvious untruth and be taken seriously? And why does no one in the media seriously challenge him on this? What the heck is going on? The US government is supposed to be an open-book affair. The public has both an interest and a right to know what’s going on with its money. Yet somehow, US Treasury Secretary Steven Mnuchin believes that $500 billion in recent bailout funds shoveled out the door to US corporations both can be and needs to be kept secret: Post Comment Private Reply Ignore Thread
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