, , , ,

Jay Powell, the economic diarrhea of the mouth that just keeps on running, calls for nebulous sacrifice.

Last week, Federal Reserve Chairman Jerome Powell called for a “society-wide” commitment to reaching full employment. As Peter Schiff put it, Powell basically handed the US government a blank check in order to achieve this “maximum employment goal.”

We’re told we shouldn’t even worry about the massive deficit spending and additional debt this will incur. It’s all hands on deck and everybody needs to sacrifice. But what exactly does the Fed mean by “maximum employment?” What are we to sacrifice for?

Of course, anytime someone refers to the wartime era as an economic model, we must also consider that higher taxes, tariffs, subsidies, grants, loan programs and even make-work programs will soon follow.

Taxes, loans, etc. How about halting all immigration, kicking out the invaders, bringing real jobs back, canceling debts, going back to real money, and ending the trade deficits? Oops, sorry…

We’ve heard this before, recently. In late November, prompted by similar idiocy, I asked what the government was willing to sacrifice. We know now: the people and the nation. But I have a great idea! I, for one, am more than willing to forever give up the central bank and the federal government! How’s that for starters, Jay?