RE:So what is the narrative this time?Listening to Jerome P. for a while, it seems to be goldilocks. NOT too HOT , NOT too COLD.
He wants inflation to be at 2% (even though he admitted core inflation is not real inflation which is higher).
2%/year inflation over a 50 year working life takes away 100% of anything you saved your first year 98% year 2 etc. . Sounds like a great plan NOT.
To achieve his 2% core inflation plan he only has to borrow $trillions and use lots and ever more of it to buy stocks and bonds so they don't tank. He was going to sell some of those later but looks more like Japan style now. Soon the big G will own all assets. Didn't they try that in the USSR ?
Give eveybody a guaranteed wage so all young men can stay home playing videogames. That way they won't show up on unemployment rolls. Everybody can be employed doing nothing.
Taking care of business doing nothing all day.
I'm trying to remember. What happened to Goldilocks ??