There is not one #economics #professor in any #American university that would have given an A to a student who argued that #GDP could decline 51%, an #UnemploymentRate of 23% and an $SPX only 11% from its all time high. NOT ONE! But economics is a science? yeah, like #astrology

#Economics is the study of allocating scarce resources. The one thing the #Fed/ #FOMC repeatedly demonstrate is that MONEY IS NOT A SCARCE RESOURCE, b/c if it were the $SPX wouldn't be only 11% from all time high, while #UnemploymentRate is 23% and #GDP down 51%.

There's no requirement for #economists theories to be correct, only that they can be argued. I'd be embarrassed to call myself an economist right now. #Fed chair #Powell has made a complete mockery of the profession. Concepts like #PriceDiscovery, #value are now meaningless.

#Economics should change its name to #AdHocomics b/c there's not a single theory governing the actions of #FOMC/ #Powell. It is simply whim and fancy. You could take a group of 4th graders put them at the #Fed, give them the problem and their solutions would be 100x more effective

The #Fed's an institution that has one & only one purpose to serve the #plutocracy. If the people were to storm an institution in revolt, it shouldn't be the equivalent of the #Bastille, but the #FederalReserve building b/c #Powell is the 21st century version of #MarieAntoinette

My God, if you look at what #Fed/ #FOMC/ #Powell have done in manner of 10wks, it's mind-blowing. They've literally kept the wealthiest portion of this country whole by bailing out #zombie firms w/ #ZIRP money, agreed to purchase 10% of all IG corporate bonds and propped up $SPX

#Fed/ #FOMC/ #Powell have done all of that while throwing crumbs to middle class, some funds to poorest, and now, audaciously, complaining that poorest have no incentive to work b/c, WAIT FOR IT, they're making too much money!! Why not try making the rich poor & see what happens

Let's be very very clear here, THE #TAXPAYER IS FOOTING THE BILL!!! The trillions of dollars the #Fed/ #FOMC/ #Powell are allocating to prop up corporate bonds and $SPX are coming directly from individual #taxpayers, NOT CORPORATIONS.