A question came up in discussion, which was how the stock market could be doing as well as it is, given what is happening. Now, one component of that has become clear: corporate debt is being gobbled up at an astounding clip. By the Federal Reserve. It’s being done with emergency relief as the stated justification, but there’s another justification that I think fits the bill better: election campaigns.
Wanna buy an election? There are some who would.
Wanna buy an election by taking money out of all the voters’ pockets and hope they won’t notice what happened? Well, then it least it isn’t coming out of your campaign finances, right? Even better, what if one can direct a supposedly independent entity that *defines* the country’s money supply to do just that? That would, for the person benefiting, be just spectacular.
If the appearance, but not the actuality, of a robust economy is the intent, and one has no qualms about mortgaging out the country for decades or centuries to come, and one has no scruples whatsoever, it can all work beautifully.
And here is an article that shows how spending trillions of dollars on a campaign can be cast as just emergency fiscal management, though it seems apparent to anyone paying attention that once the nozzle on free money from the Fed is turned off, the whole thing will collapse. *That* emergency has no apparent plan in place for mitigation.
Want to know the most expensive Presidential campaign of all time? It’s this one, where trillions in corrupt practice are being applied to shift some numbers just high enough and just long enough to let one grifter, his cronies, and his captive political party escape accountability for just a little while longer. It’s a high-stakes wager whose ante we all pay for, and we all can do nothing but lose, whether our grifter pulls off his gambit to delay justice or not. The Fed can just keep saying there are more dollars now, but what they are doing with buying this corporate debt fails to add corresponding value to the economy; it just makes what you’ve managed to hang on to have less buying power.