The Banquet of Consequences is Being Served

Prepared just for us by the central banking cartel

by Adam Taggart
Chris Martenson’s Peak Prosperity

Sooner or later everyone sits down to a banquet of consequences. ~ Robert Louis Stevenson

Last week, the Federal Reserve decided to keep US interest rates unchanged, marking its 96th month of life at the zero bound. Apparently, for all of its “data dependence”, the Fed feels the economy could still benefit from *just* a little more of its ZIRP happy juice.

But as anyone with a little common sense will tell you, More is not always better. It’s quite possible to have too much of a good thing.

And in its pursuit to kick the can for a little longer, the Fed is has crossed a dangerous line. Dangerous not just to the health of our market economy (that line was crossed a long time ago); but to its own existence. A central bank’s authority is based on faith in its power to effect its mandate. Last week’s decision was so toothlessly passive that even the Fed’s cheerleaders are beginning to question if it has any clue for how to escape from the corner it has painted itself into.

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