We are witnessing wild end-of-cycle Monetary Disorder.

via creditbubblebulletin:

….I know the “soft landing” and “immaculate disinflation” narrative has become conventional wisdom. It’s widely believed these days that there is no price to pay for years of monetary and speculative excess, for deeply flawed monetary management, and for fiscal recklessness. That structural maladjustment is a nonissue.

I don’t buy any of it. The day of reckoning is only on hold. By now, the system should be well into what will be painful financial and economic adjustment. Instead, Bubble inflation runs unabated.

Truth be told, we are witnessing wild end-of-cycle Monetary Disorder. Evidence includes extraordinary price instability – from CPI to securities markets to quarterly GDP. Importantly, market structure at this point precludes stability. Speculative excess ensures sporadic upside market dislocations, where squeeze rallies create Trillions of perceived wealth, dramatic financial conditions loosening, and economic instability. It all appears prelude to serious trouble.

Bloomberg: “Powell Pushes Back on Rate-Cut Bets But Markets Push Back Harder.” A historic speculative Bubble has taken control – perhaps decisive, fateful control. Gold jumped $35.81 during Powell Fireside Friday, trading to an all-time high $2,072. For the week, gold rose $71.40, or 3.6%, with silver surging $1.16, or 4.8% to $25.49. The precious metals signal central bankers and their “rule of thumb” are playing with fire.

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