The “’24 Leap Of Faith”, To IrrAItional Exuberance, Coming Out Of The Soft Landing At Jackson Hole
“Oh, my God. What a relief.” (Nancy Pelosi)
Summary:
· Some doyens/doyennes, of global macro narration, coming out of Jackson Hole, are moving back to the 1990s frame of reference.
· Mudras are now an effective forward guidance policy communication tool.
· The “BRIC August Surprise” was surprised by the Managed Trade/FX regime on display at Jackson Hole.
· The US Dollar ascends another BRIC in the Wall of Worry.
· The US Dollar transcends the “Uninvestable” Great Wall of China.
· The stronger US Dollar takes the “+” out of OPEC+.
· BOJ Governor Ueda signaled that a strong US Dollar and high oil prices contribute to higher inflation, in Yen terms, but he finds the strong US Dollar to be more sustainable because it drives oil price-driven inflation lower.
· Goldman’s continued Pantechnocracy narrative price-discovery, extending from “Speaker Pelosi’s Bottom”, reprises the 1990s New World Order price-discovery of “IrrAItional Exuberance” at peak Wall of Worry.
· “Speaker Pelosi’s Bottom” smells like victory for Biden’s “’24 Leap of Faith”.
· “Speaker Pelosi” is the “Replicator”.
· The “Replicator” replicates “Replicator Doctrine” as an investment strategy.
· “Replicator Doctrine” confirms the “Techno-Economic War, Today, to Avoid the Real Thing in 2026” Author’s “Leap of ’22”.
· The incoming ARM IPO reveals how a de facto, and de jure, “Techno-Economic Industrial Monopoly” will deliver the scale, of “Replicator Doctrine”, through a de facto, and de jure, “Techno-Economic Industrial Oligopoly” of military/civilian “Replicators”.
· The IMF struggles to make the “’24 Leap of Faith” over the Wall of Worry.
· Secretary Cleverly, stupidly, pre-empts POTUS’s “’24 Leap of Faith”, thereby, effectively destroying all possibility of a free trade deal with the USA shortly.
· The Ungoverned Kingdom (UK) is “leaping” off the Great Wall of Worry onto the “uninvestable” side.
· Cleverly’s “stupidity” reprises the controversial UK Butler Model.
· The Butler is a Trojan Horse within G7.
· Cleverly’s “stupidity” risks transferring UK taxpayer revenues and intellectual property to China in addition to those being transferred to current “Friends-and-Family Shoring” recipients.
· The “25X3I’s” in “Friends-and-Family Shoring” is the ouster.
· Based on past, and current, performance there is every reason to believe that the UK’s global AI summit is a front for the usual “Friends-and-Family Shoring” suspects.
· Coming out of Jackson Hole, the ECB appears to think that capital markets union is the lowest fruit on the branch, of the tree of liberty, in the Eurozone, which is a euphemism for banking sector consolidation.
· Brimmer’s Law has been “broadly included” at the Federal agency level of the fiscal policy executive for housing.
· The New Zealand Banana Republic Trade is overcrowded.
Extracts
· Mr. Market’s price discovery of the Pantechnocracy coincided with his price discovery that there is no “+” in OPEC+.
(Source: the Author)
· During Jackson Hole, Goldman price-discovered the Pantechnocracy thesis behind the Greatest Rotation, in history, climbing the Greatest Wall of Worry, in history, extending from “Speaker Pelosi’s Bottom”.
(Source: the Author)
· The “’24 Leap of Faith” remains grounded on ’90s steps.
(Source: the Author)
· Mr. Market remains ignorant of the “Speaker Pelosi’s Bottom” extension pattern.
(Source: the Author)
Isolating the UK from the big global economic deals, whilst it is undergoing its own Cost of Living Crisis, is the urbane G7 equivalent of sanctions in the pursuit of regime change. Sterling’s alleged safe-haven status may soon be questioned.
(Source: the Author)
· “Friends-and-Family Shore” recipients have, ostensibly, replaced the EU, since Brexit, as significant recipients of wealth transfers from the UK Taxpayer.
(Source: the Author)
· “Friends-and-Family Shoring” is the Ungoverned Kingdom’s (UK) Polycrisis strategy.
(Source: the Author)
· The EU’s ability to successfully execute its own Friend-Shoring strategy is significantly weakened because the bloc is not a unitary federal state.
· EU Friend-Shoring, like USA Friend-Shoring, is initially inflationary and may, subsequently, be disinflationary after a more extended period than intended.
· The ECB may be forced to address the inflationary component of EU Friend-Shoring with financial instability impulses.
· European financial instability may create the ECB’s desired financial sector consolidation, a pre-requisite for and pre-cursor to European Federalism.
(Source: the Author)
· Mr. Market remains largely ignorant of “Brimmer’s Law”.
· Mr. Market will be educated in the canon of “Brimmer’s Law” at Jackson Hole.
· The latest FOMC minutes served as the introductory remarks for the upcoming “Brimmer’s Law” symposium at Jackson Hole.
· Mr. Market will be encouraged to make the “’24 Leap of Faith”, towards a US Soft Landing, under the canon of “Brimmer’s Law” at Jackson Hole.
(Source: the Author)
· Mr. Market discovers the Banana Republic of New Zealand scenario.
(Source: the Author)