Forward Guidance | James Howard Kunstler

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James Howard Kunstler -- World News Trust

April 7, 2014

Guess what? There is none.

Rather, the Federal Reserve practice of Delphically divulging its intentions ought to be understood as the master pretense of U.S. economic life -- the delusion that wise persons are actually in control of anything.

The result of this guidance continues to be the mis-pricing of everything, especially the cost of money as represented in the operations of debt, and hence the value of everything denominated in money.

The interventions of our central bank have really been aimed at one objective: to compensate for the contraction of real wealth in an economy that replaced purposeful activity with Kardashian studies and tattoo art. Purposeful economic activity provides surpluses that allow for the repayment of debt. Kardashian study and tattoo art lead to entropic entrapment, aka, a death spiral of culture and economy. That’s where we are at. The debt is now eating us alive, and the central bank trick of piling on additional debt to mask the failure of repaying old debt is losing its palliative punch.

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http://worldnewstrust.com/forward-guidance-james-howard-kunstler

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