“ If you tell a lie big enough and keep repeating it, people will eventually come to believe it ." – Goebbels.    Sadly, we've had a major demonstration of Joeseph Goebbels axiom on propaganda during the prior four years but it's an incomplete thought as the rest of what Goebbels said was: " The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State .”  That's from the only book Trump used to keep by his bed . While we all miss President Trump, the " Big Lie " is still with us and, in Economics, it's the Fed's constant insistence that the inflation we are all very clearly experiencing is "transitory" and that prices will all come back down very soon and long-term rates are realistically low.  They have to say that – our Government needs to borrow $180Bn every month and there are proposals for stimulus programs that will increase that amount.  They payment on our $28Tn Debt is staggering now – at 1.5% interest – imagine what would happen at the historically normal 4-5% interest rate.   We're not going to stop borrowing money, we're not going to pay down the debt and we're not going to raise taxes to balance the budget and we're not going to cut spending, so what else is there to do but LIE? While the Fed now claims they anticipated that the end of the pandemic would temporarily push up inflation this year, Chairman Powell said Tuesday on Capitol Hill that the increases in prices have been larger than Central Bankers had expected and may prove more persistent.  But he underscored his view that shortages – including of used cars, computer chips and workers – will fade over time, bringing inflation closer to the Fed’s 2% long-run target. …