Sooner or later, reality asserts itself. From Matthew Piepenburg at vongreyertz.gold:
It’s almost comical to watch policy makers of all stripes and country codes caught in a corner yet pretending we don’t notice.
Children In Charge
I’m reminded of the kid with his hand in the cookie jar while pretending his parents can’t see him—denying his guilt despite the crumbs falling from his face.
Again: It’s almost comical.
But there’s really nothing funny at all about major economies crawling into recession (Germany, Japan, UK, China) or denying recession (USA) while our mental midgets from DC to the EU play with bonds, inflation currency and war like kindergarteners with gas and matches.
Can’t Hide the Debt Cookie Crumbs
Speaking of kids caught with crumbs on their face while denying responsibility, it seems that even our central bankers can’t keep hiding the facts of now “unsustainable debt” (Powell) with clever lies, such as they had tried to do in the past:
In short, the days of hiding bad math behind empty words are now coming to an end, as most recently evidenced by another comical treasury market auction (below).
