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In the fourth book of his brilliant trilogy The Hitchhiker’s Guide to the Galaxy, Douglas Adams explains how Dolphins are smarter than people and have been trying to communicate with us in code for quite some time.
The passage was so brilliant that it was used as the intro to the film adaptation, who even made an entire song about the porpoise’s final message.
It has me wondering, who else might be trying to communicate with us by code? The Fed perhaps??
In this 47-second clip of Jerome Powell’s recent testimony to Congress, we can see that he coughs twice. Each time was when mentioning a possible economic downturn. He also touches his nose when talking about a Congressional report that states the US budget is on an unsustainable path. Then near the end makes a rather unfortunate stutter/Freudian slip.
We get your message, Powell. The economy is fine but the US debt is out of control.
This is something we’ve talked about many times in these updates. Certainly no need to panic, as long as they can continue paying the overhead everything should be fine for now. It’s more like one of those long-term problems that future America will need to deal with but always has the possibility of biting at any time.
eToro, Senior Market Analyst
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