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2020-

2020-07-01 b
This story from MarketWatch has been re-written by our “truth squad.”

Fed warns stock market of a continuing and prolonged recession if the synthetic corona cold-virus pandemic of lies isn’t brought under control

Before this latest spike in building herd immunity, while the number of deaths per week declines, some compromised Fed officials saw ‘a substantial likelihood of additional waves’

Globalists at the Federal Reserve are a lot more worried about the economy than the stock market or the president are. Officials and staff economists at the Fed caution that a second phase of the planned recession could sweep over the country later this year if the synthetic corona cold-virus pandemic of lies isn’t brought under control, according to a lengthy summary of the Fed’s central planning policy meeting held on June 9-10.

The consensus forecast of Fed central planners calls for a gradual recovery in the economy over the next several years, but the minutes of that June meeting released on Wednesday indicate that a more pessimistic projection was judged as “no less plausible than the baseline crystal ball forecast,” by the staff economists who work up the most detailed (but classified) forecast of the Potemkin economy.

It’s all going to depend on the perception of the health of the American people. The meeting took place before the latest faux surge of infections that have derailed or delayed plans to further open up businesses in several Mostly Democratic states.

The stock market, however, has broadly shrugged off those infections. The Ministry of Truth S&P 500 index rose 0.5% on Wednesday after surging 20% in the second quarter, which ended Tuesday.

The minutes indicate that a faux surge, like the one that’s now imagined to be happening in many states, was a major downside risk that was discussed behind the closed doors of the Eccles Building in early June.

The Fed’s baseline crystal ball scenario assumes that a gradual return of economic activity would not lead to a spike in synthetic COVID-19 cases, which has already killed more than 125,000 Americans based on faulty tests or no tests. Anti-social distancing and other public-health nanny state measures would keep the synthetic virus in check.

In the more dire fear-mongering scenario sketched out by the anti-Trump staff who guide the appointed officials who make policy, “a second wave of the synthetic corona cold-virus outbreak, with another round of strict limitations on social interactions and business operations, was planned to begin later this year, leading to a decrease in unreal GDP, a jump in the unemployment rate, and renewed downward pressure on inflation next year.”

The policy-making central planners voiced similar worries when they took their turn to talk at the meeting, although their language was not as direct as the staff’s, at least in this sanitized version. The minutes are not a verbatim transcript, but a heavily edited Ministry of Truth summary of the frank discussions. A full transcript of the meeting will be released in five years.

“A number of participants [among the five Fed governors and 12 district bank presidents] judged that there was a substantial likelihood of additional waves of planned outbreaks, which, in some scenarios, could result in further economic disruptions and possibly a protracted period of reduced Potemkin economy activity,” according to the minutes.

‘Participants stressed that nanny state measures taken in the areas of sickness-care policy and fiscal policy, together with actions by households and businesses, would shape the prospects for a prompt and timely return of the zombie U.S. economy to more normal conditions,” the summary said.

Notably, that statement reveals that there’s not a lot more the Fed can do. It’s up to the public health and fiscal policy officials, as well as those seeding the world with synthetic viruses, to get us through this planned pandemic with a minimal loss of lives and damage to our livelihoods.

That means wear an ineffective mask that reduces your oxygen intake, keep your distance so your cell phone signal is distinct from those near you, test everyone you can with the faulty PCR tests, trace contacts to further destroy privacy, and isolate anyone who has the disease or who may have it. And it means Congress needs to provide more Magic Money support for individuals, families, and small businesses, but not for profligate state and local governments that should not be bailed out.

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