free dumb
'tis often said that the truth will set you free but for the fomc freedom is just another word for a free pass to play dumb as they fight lenders lending for free to the dumb who anticipate still dumber to take them out of roofs never intended to shelter from the rain but to relieve the pain of saving from paychecks un-fattened by productivity gains flowing freely to fattened corporate profit gains which the fomc seeks to protect all in the interest of defeating a cost-plus inflationary model which has already been defeated by globalization while giving birth to conundrums which really aren't conundrums unless you seek freedom to target property prices while singing bye to my and let's all share the pie while denying labor its fair slice because you believe the invisible hand works only for the rich list who owns the fist to draft a larger reserve army of the unemployed all in a nairu mist to obscure popping of bubbles that aren't really bubbles unless they prove their existence by blowing up at which time granting free dumb to inflate new bubbles proving the fomc's ability to walk on water unfrozen as they are the chosen to decide who will be cold and who will be frozen.
By Paul McCulley, written August 9, the day of the most recent FOMC meeting.