Introduction

Peter St. Ange: These past few years have been a master class in economic gaslighting, a clown parade of lies. On inflation, first it was transitory, then it got a downgrade to temporary and finally Jerome Powell gave up with 8.9% last year. Chicago Fed President Austin Ghoulsby recently admitted that we are trying to figure out where we are in this business cycle. He says the economy did figure it out, delivering 2008-style bank collapse combined with 1970s inflation which is now turning into 1970s stagflation.