Yellen, Draghi Head to Jackson Hole Amid Inflation Unease

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Bloomberg: As the world’s top central bankers gather in Wyoming this week, their relief about a stronger global economy will be tempered by a growing unease that inflation remains inexplicably low.

Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi will be among the officials addressing this year’s installment of the annual conference hosted by the Kansas City Fed. The summit, held at a Jackson Hole mountain retreat, comes as central banks in advanced economies creep toward the policy exit after years of unprecedented easing, even with outlooks are clouded by stubbornly tepid inflation.

Prices have been slow to pick up despite solid growth and falling unemployment.

Opinion: A conundrum. The eight years under Barack Obama did not have even one year of 3% growth. The economy grew at an anemic 1.48%, including a 2013 adjustment to the GDP calculation designed to make Obama look better.

Obama created more part-time jobs than any president in history and more people were out of work longer than during any time in the last 40 years.

Then we have to factor in three rounds of Quantitative Easing, or central bank money printing, that created $4 trillion in debt which the Fed would like to unwind.

Total debt in US, including unfunded liabilities, is estimated at $100 – 140 trillion. Last week it was reported U.S. household debt was a record $12.84 trillion in the three months to June, up $552 billion from a year ago.

Lastly, because of a decade of 0 interest rates government pension plans are under-performing their target growth rates leaving tens of thousands of people on fixed incomes with reduced monthly checks.

It reminds me of trying to race a car with your right foot on the gas and your left foot on the brake.

Have you noticed that no one, not the president, Congress, mainstream media or the average person cares about this debt mountain?

I don’t know how or when the charade will end, but the Apostle John described 4 horsemen that will bring judgments on a God-rejecting world, after His Church is taken up (1 Thess. 4:16-28).

It is the third horseman (Revelation 6:5-6) that brings economic collapse in what appears to resemble hyperinflation, which is ironic since the Fed can’t even get 2% inflation.

Hyperinflation, however, can happen suddenly.

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