He’s been saying this since December and yet the Fed has done nothing. If they ever do “something” you can bank on the fact that it will be enough to cause some economic distress, but not enough to curb inflation. Left unmentioned in Karl’s take is that the Fed backing away from driving debt into the system would immediately put their banks underwater. So yes, they should do something, but won’t. He thinks this will result in some violent overthrow where the elites are put to the sword. We should all hope, but our elites did not get to where they are but caring one lick for anyone in the bottom 50 percent.
This fits in with Karl’s other ‘boomer’ takes. He’s a brilliant data analysis, technician, and aggregator but repeatedly flunks when it comes to application of knowledge. His takes are from another age where he both relishes the fact that voters will get what they have coming to them for their “poor choices” while acknowledging that the voting outcomes weren’t going to move the needle much one way or the other. He wants strong opposition leadership, while providing none, and decries the feckless attitudes of the masses while not factoring in that they’re living in what is at the very least a soft totalitarian society. He’s serious, but not nearly serious enough; much like the money managers that references in his post.