Bubbles B. Goode: Musical Tribute to the Fed

-edited

A few weeks ago I created a video anticipating the moment Powell would embrace rate-cutting bubbles as standard policy.

The bubble-blowing admission has arrived.

On Tuesday, Fed Chair Jerome Powell announced he was Ready to Cut Rates to "Effective Lower Bound" via "Conventional" Policy.

Unconventional the New Conventional

The unconventional is now the new conventional. Powell stated it's "time to retire the term 'unconventional' when referring to tools that were used in the crisis."

"The next time policy rates hit the ELB—and there will be a next time—it will not be a surprise," said Powell.

ELB stands for Effective Lower Bound. With that, Powell implied that interest rates will return to zero.

Open Letter to the Fed

In an open letter to the Fed, I asked Powell a set of questions on inflation expectations, demographics, the Phillips Curve, and the CPI, all areas in which the Fed has made repeated errors.

Hello Jerome Powell, We Have Questions

My questions, sent directly to the Fed before Powell's latest announcement, went unanswered.

Hello Jerome Powell, I ask again, instead of failed bubble-blowing tactics, how about some answers?

Mike "Mish" Shedlock

Comments (18)
No. 1-18
ksdude
ksdude

About 1000 points up in the past 3 days. Oz is alive and well.

thimk
thimk

funny stuff ! skillfully parodied

Cocoa
Cocoa

AMAZING...and that is not an easy song to keep up with! I am exhausted.

Jackula
Jackula

Lol! Helicopter money is on its way!

truthseeker
truthseeker

Do I get a pardon? I thoroughly enjoyed it!

Tengen
Tengen

My only criticism is that your Yellen was too energetic and lifelike. You're supposed to look at her and wonder if she needs immediate medical treatment.

mharris240
mharris240

Awesome Mish, loved it! In the same breath, here's a pretty good jab at our government by Tim Hawkins:

The Government Can

https://www.youtube.com/watch?v=LO2eh6f5Go0

killben
killben

A really good video. Thanks, Mish!

Tollsforthee2
Tollsforthee2

That was hilarious, Mish. Loved it!

CzarChasm-Reigns
CzarChasm-Reigns

Well done Mish. Enjoyed it!

ksdude
ksdude

Great vid btw. Didn't know you had it in you lol.

Maximus_Minimus
Maximus_Minimus

This would seriously be good entertainment if the subject wasn't so deadly serious. I would just change a text a bit; instead of go... to blo... It rimes quite well, too. Selling T-shirts with bubbles could be a serious business opportunity. Helicopter money need to be renamed to drone money. Can you forward the correction to dr. Bernanke? If he isn't too busy writing useless trash.

MrGrumpy
MrGrumpy

Thank you. This was fun.

RayLopez
RayLopez

Mish is good...he can do karaoke quite well.

CoveringMyEars
CoveringMyEars

Thank-you Mish. It is not easy song to sing because it so fast. Telling the truth in such a rapid & fun manner shows your intelligent multi-talented creativity.

El Capitano
El Capitano

OK I thought this singing thing was going to suck but I actually laughed. Not nearly as bad as expected.