The great pretending continues. During a Sunday talk show appearance, San Francisco Fed Chair Mary Daley states, “what I see is supply and demand are just unbalanced. About 50% by my own staff’s estimates of the excess inflation we see is related to demand. The other 50% to supply.” Note, she is not talking about energy.
Margaret Brennan, maintaining her position as the professional CBS narrative engineer, never thinks to ask: (a) where is this demand you speak of, and what exactly are they demanding? and/or (b) What is this 50% inflation on the supply side connected to? Obviously, an actual probing of inflation wasn’t in the script. The great pretending continues. [Transcript Here]
CTH has stated without reservation that August’s inflation report will show a significant –albeit temporary– drop in inflation as measured by the govt. The drop in gasoline prices throughout July (created by a drop in demand) will allow the fiscal and monetary policy makers to falsely claim overall inflation peaked. However, after a brief respite the inflation now growing in the ground (massive increases in farm costs), will then launch into the food supply chain. This delayed food inflation will overtake the energy inflation in the latter part of this year. WATCH:
[Transcript] – MARGARET BRENNAN: We turn now to the state of the economy and the president of the San Francisco Federal Reserve Bank, Mary Daly. Good morning to you.
FEDERAL RESERVE BANK OF SAN FRANCISCO PRESIDENT MARY DALY: Good morning.
“This is no small thing, to restore a republic after it has fallen into corruption. I have studied history for years and I cannot recall it ever happening. It may be that our task is impossible. Yet, if we do not try then how will we know it can’t be done? And if we do not try, it most certainly won’t be done. The Founders’ Republic, and the larger war for western civilization, will be lost.”
Our Father, who art in heaven, hallowed be thy Name. Thy kingdom come. THY WILL BE DONE, on earth as it is in heaven. Give us this day our daily bread. And forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but DELIVER US FROM EVIL.
The debate, as outlined in just about every media narrative surrounding renewals of a national COVID emergency, is obtusely presented as if the primary political concern is public health.