“In short, current yields scream the failure of the technocratic elite, particularly central banks. Where is the inflation we were promised? Where are the wages healthily driving that inflation on the demand-pull side? That failure is taking us into the surreal world of ‘Stranger Things’, where the US president publicly eviscerates the Federal Reserve at every turn, even calling it an ‘enemy’.
However, throughout central banks’ persistent failure to achieve their goals at least they could claim they were still scientific and apolitical and ‘not strange’. No longer.”