Contrary to High Priest Powell, the Economy is Not Strong

by David Haggith

With rapt attention from all across the nation, the High Priest of Finance at the Federal Reserve took his position behind his presser pulpit. Biting his quivering lip again and again, he uttered his benediction over the US economy. He made sure to carefully speak the words I hear repeated across the nation like a mantra: “The Economy is Strong.”

It seems that, wherever I wander on my own through the concrete canyons, I keep hearing all the stock market evangelizers on Wall Street say, “The economy is strong.” I hear Goldman’s Fed acolytes say it surrounded by their Sachs of gold, but also I hear the merry band of Robinhood retail investors, who want to believe they are immortal, proclaim it out in the streets. I especially hear the televangelist economic gurus of our time who worship at the door of the Fed’s ecclesiastical temple — the Eccles Building — say it ALL THE TIME.

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