Washington Groupthink Run-A-Muck

The most important thing to know about what comes next is that:

• American capitalism has long ago been taken hostage by Washington “policy” makers; and
• the latter have now completely succumbed to self-serving Imperial City groupthink that flat-out defies rationality and common sense.

Three more examples reared their perverse heads on Friday. To wit, Pusillanimous Powell averred that too-low inflation is “one of the major challenges of our times”, while the Donald  doubled-down on nationalistic protectionism.