Unexpected sneer in the JSI Chart of the week:
Raising interest rates will only serve to further weaken an economy that is being constrained by high energy costs, and everything that flows off energy, which is just about everything. The Fed could raise its lending rate to 10% and that will do nothing to open the Strait and bring down oil. The facts aren't wrong in this matter - the diagnosis of the problem is.
This entire predicament is almost as implausible as a couple of insolvent AI companies threatening to wreck humanity, but then 'volunteering' to slow down development in order to save humanity, provided that the govt steps in and gives them a bailout, disguised as regulation. I wonder if there are any vintage 'Too big to fail' t-shirts floating around on ebay.
Fun times!!






