Jackson Hole Oasis: The Facts Of Life

"Is it worth the aggravation, To find yourself a job when there's nothing worth working for?" (Noel Gallagher)

Aug 31, 2024

(Source: Bloomberg, caption by Noel Gallagher, and editing by the Author)

Summary:

· The “Un-Government” of the “Ungovernable Kingdom” (UK) is continuing the traditional process of rent-seeking to fund Kleptocracy and Nepotism.

· The “Rotten Foundations” of the “Ungovernable Kingdom” (UK) underpin the “Un-Government”.

· The “Fiscal Euthanasia” policy, of the “Un-Government”, in the “Ungovernable Kingdom” (UK), is robbing Grandad Peter to pay Friends and Family of Paul.

· Since non-violent crime results in early release, there is a pecuniary incentive that rewards, then legally protects, Kleptocracy, and Nepotism, in the “Ungovernable Kingdom” (UK).

· Adherence to Sir Keir “Inner Temple’s”, mendacious, Facts of Life will create a shrinking economic “Cake” that cannot support his corpulent Layer.

· Ultimately, the Bank of England will be “obliged” to support Sir Keir’s corpulent Layer.

· Since the shrinking UK economy cannot support the Bank of England’s “obliged” support, Mr. Market will demand tribute in the form of a risk premium higher than that currently demanded for alleged austerity.

· Modern Monetary Monopsony Theory (MMMT) was dropped, successfully, in the Fed’s “Third Mandate Zone” at Jackson Hole.

· The post-Jackson Hole vibe is rhyming nostalgically with the “@1990s Rational Exuberance” track in the Author’s November 2023 back catalog.

· Despite the “Palace Coup”, and the “Jackson Hole Drop”, the US Presidential Election is still about the Economy.

Extracts

(Source, caption by John Cooper Clarke, and editing by the Author, August 17^th, 2024)

(Source: dailymail, caption by the Author)

(Source: guardian, caption by the Author, lyrics by John Cooper Clarke)

(Source: londoneconomic, caption by the Author, lyrics by John Cooper Clarke)

· O-o-h say can you see (how), by Operation Early Dawn’s light, Sir Keir is so proudly hailing his twilight’s last gleaming.
(Source: the Author, August 24^th 2024)

(Source: skynews, caption by the Author)

(Source: bbc, speech by Eddie Temple, caption and editing by the Author)

·       “Grim (Reaper)Labour’s Fiscal Euthanasia” strength, is de facto Replacement Theory, through the joy of political genocide.
·       “Grim (Reaper) Labour’s Cheka” confiscates pensioners’ wealth to transfer to public sector foot soldiers.
·       “Grim (Reaper) Labour’s Cheka” confiscates pensioners’ wealth to fund public sector capital investment.
·       The “Grim Reever” does not understand that you cannot confiscate an actuarial deficit by pretending it is hypothecated national wealth.
·       When the “Grim Reever” realizes she cannot confiscate a deficit, she will oblige the Bank of England to monetize it.
·       An obliging Bank of England will monetize the Ungovernable Kingdom (UK) into the “Weimar Ungovernable Kingdom” (WUK) rather than the “Woke Kingdom” (WK) status quo.
·       The “Weimar Ungovernable Kingdom” (WUK) is the hyperinflationary gateway to “Far Right Reform”.
(Source: the Author, August 17^th 2024)

· Mr. Market has herded his Sheep into the Fed’s “Third Mandate Zone”, wherein lurks Modern Monetary Monopsony Theory (MMMT).
(Source: the Author, August 10^th 2024)

(Source: kansascityfed, caption by the Author)

(Source: Bloomberg, caption by the Author)

(Source: the Author, November 18^th, 2023)

· At this point, the Fed is unlikely to ease, before a new Presidential Cycle has begun unless it is rooting for the incumbent.
(Source: the Author, May 4^th 2024)

· The June month-end Key Signals proprietary indicator shows that the Fed should now be easing monetary policy, which questions whether the intended easing of bank capital adequacy requirements will be enough to sustain the US economy until the new Presidential Cycle kicks in.
(Source: the Author, July 6^th 2024)

The Key Signals Report

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