The whole curfuffle over FED funds rate changes is just Ptolemaic cosmologists insisting that epicycles are the way to explain the anomalies of planetary movements in a paradigm of geo-centrism. Correctly change the paradigm and the anomalies resolve and the new paradigm makes things work as they should without all of the pain the current paradigm creates and enforces…and all of the incredible twisting and turning of logic to try to explain and justify a falsehood.

Implement a 50% Discount/Rebate at the various points of retail sale and inflation is mathematically transformed into deflation ($100 worth of groceries can be bought for only $50 and yet with the rebate aspect of the policy the merchant gets their full payment of $100). The merchant also gets a potential doubling of demand for every one of their goods and services that they can compete for on price and with innovation which are economic virtues instead of simply inflating which is somewhere between an economic misdemeanor and a first degree felony.

Mish I admire your objectivity about the FED and your photography is lovely, but your clinging to libertarian economic theory in the face of my more than decade long posting of the undeniable mathematical and economic effects of this single policy is telling. The socialist obsession with raising taxes is an equivalent orthodox stupidity. Instead give every individual and commercial agent an account at the central bank and mandate that the FED distribute the rebate aspect of the 50% Discount/Rebate and the Federal Reserve becomes the General Reserve and the equally stubborn orthodoxies of socialism and capitalism becomes an economy of grace as in monetary gifting AKA Wisdomics-Gracenomics.