09/01/2025
The long trend in disinflationary bond market signaling allowed policymakers of subsequent decades to routinely paint prosperity into the macro at will. This was most obvious during the Inflation onDemand era, launched compliments of Alan Greenspan, post-2001. But that was not real prosperity. It was inflationary policy, given license by the long bond’s decades of disinflationary signaling (thank you, Volcker), a license that became ever more abusive post-Greenspan.
It was the core reason we now have a society so divided. As I have written many times, it is the act of inflating money supplies and monetary aggregates through bond market manipulation that has fabulously benefited the wealthy and routinely impaired the not wealthy. This is the root of our social problems.
In modern day reality TV America, the easy target is the other political party. THEY ARE BOTH QUILTY!
Big Picture Macro & Precious Metals Bottom Line
