Government "policy" has never been of any benefit, an abhorrence against free markets and free peoples. Federal Reserve Chairman Jerome Powell recently participated in an IMF roundtable with European Central Bank President Christine Lagarde and several other figures in global politics and banking. In his podcast, Peter Schiff broke down Powell’s comments and revealed that just about everything Powell said was wrong. Moderator Sara Eisen, a CNBC anchor, said she was honored to be in the presence of these great economic minds. Peter said these are the last people you want to listen to if you want to know what’s going on in the global economy. These are politicians disguised as economists or bankers. They’re either incompetent or liars. So, either way, you’re never going to get a valid answer.” Powell started his presentation by talking about how strong the economy was prior to the pandemic. Wrong. As Peter said, we didn’t have a great economy. We had a great bubble, a gigantic bubble. That’s what we had.” Then Powell said the pandemic came along and screwed up this great economy. Peter said Powell was wrong again. No. The pandemic maybe pricked the bubble. But it also exposed the underlying weaknesses in the economy. Because had we truly had a strong economy, we could have weathered the pandemic to a much greater degree than we did. And of course, we would have weathered it better had we not had the horrific government response to the pandemic.” Of course, Powell had a different take. He talked about the “remarkable” fiscal and monetary response. And wrong again. It wasn’t remarkable. It was the worst possible response you could have made. It sowed the seeds for the inflation that we’re experiencing now. But more importantly, the even greater inflation we’ve yet to experience, but that we will experience.” Then Powell talked about the great economic recovery we’ve experienced thanks to this “remarkable” policy. And once again — wrong. We didn’t have a great recovery. We never recovered at all. We got even sicker. It’s just that Powell didn’t know that. All we did was spend the money that the Fed printed, and we’re experiencing the consequences.” Powell mentioned inflation as if it came around out of nowhere and just rained on the parade. He acted as if this inflation freight train just came out of nowhere. Nobody expected it and there was nothing anybody could do about it. Powell made it out as if everything was great and then, all of a sudden, we had inflation and a war. And so now, we’ve got this big problem. But of course, he fails to acknowledge or accept any responsibility for having created the problem.”