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In my view, Jay Powell has become "a problem", though NOT because he’s a bad guy with evil intent. I do not believe that. In fact, he seems like a genuinely “nice guy”!

BUT, having said that, he IS an “egghead, an overthinking, theoretical, no action, no skin in the game, no blood-no foul, ACADEMIC.

Jerome Powell is a monetary PURIST and thus, beyond Employment and Inflation…NOTHING ELSE MATTERS!

The Consumer Cocoon…matters NOT, not until there is a recession.

The Credit Crunch and Delinquency Epidemic…matters NOT, not until there is a recession.

The DEFLATION in “real” Retail final demand…matters NOT, not until there is a recession.

The Housing Crisis…matters NOT, not until there is a recession.

The Economy, DEFLATION in the Service sector in particular…matters NOT, not until there is a recession.

Well, guess what, there IS ALREADY a RECESSION underway in ALL the above!

But it matters NOT, because the ECONOMY and the CONSUMER…matter NOT…not to eggheaded monetary purists like Jerome Powell, who FAIL when it comes to having vision, having the “stones” to be AHEAD of the curve!

Powell has MISSED EVERY “TURN” in his entire tenure as the Fed Chair, sorry, that is the SIMPLE FACT!

His Fed has been BEHIND THE MONETARY CURVE at every key turning point!

And he is MISSING it again, WAY behind the curve this time, and for just ONE reason, in his mind there are not enough LAYOFFS yet to tilt the scales towards getting to a NEUTRAL POLICY as quickly as feasible. He believes this even though there are ample signs that layoffs are EXACTLY what is coming next.

Worse yet, from the political side, the Fed actually REVISED their Labor market projections to reflect STRENGTHENING job gains over the NEXT TWO YEARS, offering a vision that includes NO MORE RATE CUTS AT ALL!

For sure, several “dots” reflected that exact projection, and Powell went so far as to SAY SO, during his press-conference (I discuss within the podcast).

And, at the end of the day, with the onerous Public and Household Debt, $55 trillion in total, INFLATION is here to stay, as “reflating” is the only way to maintain growth, which is necessary to facilitate the SERVICING of debt, now “priced” at over $1 trillion per year in Public Debt interest expense alone!

The time for academic solutions, the time for eggheads to spend hours discussing the nuances of nothingness…are far behind us.

The Fed has “lost it", and Jay Powell is “flipping off” every hardworking American, and more so, those who CAN'T FIND WORK!

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In today's podcast Greg rewinds to review his January 2025 Year-Ahead Outlook, his major macro-market trading/investment "themes":

-- Consumer Cocoon/Credit Crunch

-- Fed Acquiescing to Higher Rates of Inflation

-- Yield Curve Steepening

-- US Dollar Depreciation and Geo-Political Realignment

-- Rotation of Wall Street Money into Precious Metals Mining Shares

Indeed, as of September 5th these themes have been DOMINANT as per their influence on the global markets, particularly when it comes to the stellar outperformance by Gold & Silver Mining Shares/ETFs.

Greg takes a look at how his top picks in the Mining sector have performed over the last fifty-two weeks, most with TRIPLE-DIGIT rates-of-return!!!

Hopefully listeners and followers took full advantage of Greg's keen and prescient insights, instincts, and investment recommendations!!!

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In this episode of Money, Markets & New Age Investing Greg puts forth a new macro-thematic thought process as a way to answer what has become THE MOST asked question of the year…"why now, why after decades of worry, does the US Public Debt MATTER???"

The answer is simply physics, and a study of "stabilization" and "rotational angles", and the physics behind how a seesaw "works".

Just like Greg's "Debt Black Hole" analogy...the "see-saw", Pete Seger's "Teaspoons of Sand" theory, and the dynamics linked to mass, weight, and angles...to suggest that see-saw has FLIPPED, away from GDP growth, Income growth, Discretionary Spending growth...and the see-saw is now weighed-down by TRILLIONS of spoonful's of sand, which now FAR "outweighs" the economy's capacity to produce growth, without relying on even MORE DEBT.

The Fed remains behind-the-monetary-policy-curve, and the Mortgage REITS, Property Developer's shares, the Dow Transportation Average, and Consumer Discretionary sectors got WHACKED last week, as the Fed is facing a Housing market CRISIS, Deflation in the Labor market, a Consumer Credit contraction, and NOW HIGHER INFLATION thanks to Trump's tariffs.

The Consumer has reached the tipping point.

The Mortgage market has reached the tipping point.

The Housing market has reached the tipping point.

The Labor market has reached the tipping point.

And without the Fed, the Stock-Bond Ratio stands directly in HARM'S WAY, at its most over-valued level EVER, by a factor of more than 2:1, beyond the high in 2000, the high in 2007, and the high in 2018, all of which preceded a MAJOR decline in equity indexes.

Yes, the Stock market has also reached...a tipping point...particularly when stock indexes are compared to Bonds and/or Gold.

What to do???

Start by listening to today's episode, and for Greg's recent US Macro-Market Special Focus, 47 pages of mega-cool charts and thoughts...email Greg directly at gregweldon@weldononline.com

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