I am so old; I remember just a year ago when the “experts” said inflation was going to be mild and temporary:
In his annual Jackson Hole, Wyoming, policy speech, Powell added that higher interest rates likely will persist “for some time. The historical record cautions strongly against prematurely loosening policy.”
Source: Powell warns of ‘some pain’ ahead as Fed fights to lower inflation
How it was:
- Inflation will be mild and temporary, said the experts: “Inflation rose 9.1% in June, even more than expected” – Coldstreams Business and Tech
- Inflation is inflating: “Inflation climbs higher than…
- I’m so old, I remember when inflation was going to be brief…
- Wholesale inflation rose 11% in April
- “Temporary” of course: 7.9% February inflation highest in 40…
- “Inflation is temporary:” Tesla raises prices across entire…
- Post pandemic inflation expected
- More here.
The Suicide of Expertise
The past two years have destroyed confidence and trust in “Experts” who have been wrong about everything. And not a little wrong but totally and unequivocally wrong.
