The Unz Review • An Alternative Media Selection$
A Collection of Interesting, Important, and Controversial Perspectives Largely Excluded from the American Mainstream Media
 BlogviewAndrew Anglin Archive
“Highest Inflation Since 1981” Is a Canard – This Is the Highest Inflation Ever, By a Lot
Email This Page to Someone

 Remember My Information



=>

Bookmark Toggle AllToCAdd to LibraryRemove from Library • B
Show CommentNext New CommentNext New ReplyRead More
ReplyAgree/Disagree/Etc. More... This Commenter This Thread Hide Thread Display All Comments
AgreeDisagreeThanksLOLTroll
These buttons register your public Agreement, Disagreement, Thanks, LOL, or Troll with the selected comment. They are ONLY available to recent, frequent commenters who have saved their Name+Email using the 'Remember My Information' checkbox, and may also ONLY be used three times during any eight hour period.
Ignore Commenter Follow Commenter
Search Text Case Sensitive  Exact Words  Include Comments
List of Bookmarks

Numbers out this morning put inflation at an alleged 8.3%, and the whole media is claiming that this is “at a 40-year high.”

It’s not actually at a 40-year high. It’s the highest inflation ever.

When they claim it is merely a 40-year high, this makes people think “oh well, at least at some point in the past it was as bad as it is now and the world didn’t end back then so this must be okay.”

Woe unto ye.

They have repeatedly changed the way inflation is calculated and then compared the numbers calculated using the newer – and much more dishonest – methods to previous numbers that were calculated in another way.

Here’s the thing: if they were going to change the way inflation was calculated, and this wasn’t some kind of scam, they would go back and retroactively change the previous calculations. You see this with money, where they say “in today’s dollars.”

Here’s an easy example: Gone with the Wind is still the highest grossing film of all time, although it only made \$390 million – because \$390 million in 1939 is nearly 4 billion dollars in current dollars.

Honest people will admit that Gone with the Wind is the highest grossing movie of all time, and it is pretty much always put at the top of lists because people calculate the change in the value of dollars.

This isn’t a precise analogy, but it’s the same concept.

Here’s another example: what if you were calculating temperature in Celsius, and the hottest day of the year was 35 degrees. Then you started calculating temperature in Fahrenheit, and the hottest day of the year was then 105 degrees, and you started saying “the hottest day of the year was three times hotter than the previous hottest day of the year”?

That’s what changing the way inflation is calculated is like.

Here’s an article from CNBC from 2011, which is for some reason still online, and actually explains this situation pretty well:

CNBC apparently forgot about that article, and is continuing to print this “40-year high” disinformation.

Among other changes, the Consumer Price Index (CPI) started claiming that if an iPad 2 cost the same as an iPad 1, you were actually saving money on the iPad – because the 2 has improvements! Given that electronics have become something people spend a lot of money on, this is a big way they manipulate the CPI.

Then you have the major thing which is changing the CPI’s cost of goods index (COGI) to a cost of living index (COLI). The basic concept behind the COGI/COLI transformation is that instead of comparing one product to another product over time, they started measuring the spook of “standard of living.” Honestly, I would be lying to you if I told you I understood all that this entails, but it is a series of math equations that has the clear and obvious purpose of allowing the government to report much lower inflation numbers than they previously reported.

Peter Schiff is right about one thing and it’s this. He was on Tucker Carlson in December of 2021 when the government was claiming that inflation was only 7%, and explained that if you calculated it using the 1982 system, it would actually be 15% – which is higher than the highest ever of 13% in 1980.

I hope Tucker brings him back on to do that segment again. Or he could bring on some Bitcoin guy. Everyone in libertarian circles is aware of this major factoid, and they’re all about ready to smash their heads against the wall looking at this “highest in 40 years” line the media is shilling.

If you read the government’s explanation for this, they will say that they made the CPI “more accurate.” Well, okay – it’s going to be a relative number regardless. But if it’s more accurate, then go back and adjust the 13% in 1980 using the current method of calculation, which would make it about 5%. Then admit that our very accurate 8.3% is the highest in all of American history – by a lot.

Another thing that people are pointing out – although it is really not even necessary to point this out – is that in the 1980s, it was a momentarily out-of-control situation which was quickly reined in, whereas right now we are just dropping off a cliff.

Crypto Situation

As far as the crypto situation – Bitcoin just fell off a cliff.

Is it going back up? Well, I would think so. People are pulling money out of Bitcoin to cover losses in other places, which is causing the price to drop. This was always going to happen if they raised interest rates, because Bitcoin had started tracking with the stock market.

It could shoot back up or it could go way lower. No one has any idea. There are too many factors involved here. However, in the long run, people are going to start using it instead of US dollars. Or maybe China will release a digital yuan, and people will start using that.

What is clear: the dollar is not sustainable. They are burning it out. The current government – along with all of these special interest groups that control the government – are looting the national treasury.

(Republished from The Daily Stormer by permission of author or representative)
 
• Category: Economics, Ideology • Tags: American Media, Inflation, Joe Biden 
Hide 282 CommentsLeave a Comment
Commenters to Ignore...to FollowEndorsed Only
Trim Comments?
    []
  1. This is designed to kill the middle class. They’re the only ones this kills.

    Poor people don’t pay for anything, so inflation is not too bad for them (yet). As long as the EBT card keeps refilling, they’re OK.

    Rich always make out. A simple hedge against bad economic times is property (real estate). Inflation means you take loans out against property, which rises in value at the same time you’re paying loans back with money that is worth less than when you borrowed it.

    But the middle class, the paycheck-to-paycheck person who fell for the nonstop consumerism of the last 65 years? Going to be crushed.

  2. When homosexuals and tranny freaks rule America….this is what you get….

    The Biden Administration:Rule by homosexuals and tranny freaks…..America is a Satanic Black Mass….from Hell!!!

    The Biden Administration Family Bowelues…..

    • Thanks: omegabooks
    • LOL: CSFurious
    • Replies: @Trevor
  3. Russia looking good.

    • Agree: profnasty
    • Replies: @Simpleminded
  4. peterAUS says:

    Good article, up to a point.

    This is a COMPLEX issue, even for experts.

    The (visible) inflation is just a sign of structural error within the system.
    That’s what The Reset (or whatever it’s called…) is all about.

    Some (smart) people believe that nobody, actually, knows how to fix it. Nobody.

    It appears that, with derivatives, the system became so complex that nobody, actually, understand it anymore. And, by the system’s core error it’s breaking down.
    I’ll compare it to system’s complexity. As…compare it with managing a company’s LAN in early 2000 to managing a company’s IT systems now where most of the stuff is in “the cloud”. Good luck understanding, let alone fixing a problem.

    One can listen/read plenty of experts from “main” and “alternative” and they can’t, really, offer a solution.

    IMHO, this topic should be the main, actually, debated/discussed on this site.

    In meantime:

    From 3:45 to 5:37.

  5. @American Citizen

    All true with a couple of caveats. If willing to live in certain unpopular areas one can get by decently for less. The coasts will be unaffordable. We can reduce much to maintain some level of decent living. But yes, the days of acquiring more and more shit are over for the middle class. It never fully recovered from the credit crash of 2008. You know, when everybody and their neighbors were refinancing mortgages and buying boats, off road vehicles, RV’s, all hitched together on a Ford 250. That died while the rich made out like never before. They’ve been set since then, the stock market boom just icing on the cake. However, they will be needing more bodyguards.

    • Replies: @omegabooks
  6. If the Federal Reserve Bank were to raise the federal funds rate to 20 percent — like it was in 1981 — the Baby Boomers would be instantaneously liquidated financially. The asset bubbles in stocks, bonds and real estate would be imploded immediately if the federal funds rate were to go to 20 percent, that would destroy the accumulated ill-gotten gains of the Baby Boomers, and it would permanently pauperize them. The Baby Boomers have no problem with central bank monetary extremism saving their bacon, the Federal Reserve Bank has done it at least 3 times and we are set for another financial implosion.

    The best way to deal with treasonous Baby Boomers who put their own interests and the interests of foreigners and other nations ahead of the interests of future American generations and the USA would be to make sure the Baby Boomers are made an example of to future generations. Raising the federal funds rate to 20 percent — and imploding the asset bubbles in stocks, bonds and real estate — would send a message about what happens to generational cohorts that put the interests of other nations ahead of their own. This would also send a message to future generations about what happens when you flood out your own nation with nation-killing mass legal immigration and mass illegal immigration as the Baby Boomers have done.

    The answer to Baby Boomer TREASON is to raise the federal funds rate to 20 percent like it was in 1981 and financially liquidate the Baby Boomers. George Washington and Andrew Jackson would immediately implode the asset bubbles in stocks, bonds and real estate, and White Core American Patriots born after 1965 should do it too.

    54 — 40 Or Fight? Nope!

    Raise The Federal Funds Rate To 20 Percent — Like It Was In 1981 — And Watch The Baby Boomers Be Financially Liquidated!

  7. John Williams’ Shadow Government Statistics website keeps track of CPI measures, among other things, and corrects for adjustments (he says gimmicks) to the formulae and index constituents, and here is his take (shown here is the more detailed free-side commentary rather than the headlines):

    [MORE]

    .. CONSUMER PRICE INDEX (CPI)– April 2022 headline Annual CPI inflation notched lower due to temporarily suppressed gasoline prices, otherwise with the new headline CPI-U and ShadowStats Alternate CPI rates holding just shy of the respective 40-year and 75-year historic peaks reported last month (May 11th, Bureau of Labor Statistics, ShadowStats.com). Headline April 2022 Consumer Price Index (CPI-U) year-to-year inflation of 8.26% backed off from the 40-year high of 8.54% seen in March, but otherwise held at a 40-year peak, up from 7.87% in February, 7.48% in January, 7.04% in December 2021 and 6.81% in November. Where the previous headline jump in March inflation (up by 48.0% year-to-year in March) partially reflected surging gasoline prices, due to the Russian Invasion of Ukraine, that backed off to 43.6% in April [still 66.1% above its pre-Pandemic level], reflecting the pricing impact of the Administration’s release of Strategic Petroleum Reserves. Seasonally adjusted, monthly gasoline prices jumped by 18.3% in March, but declined by 6.1% (-6.1%) in April. That said, the Energy Information Agency (EIA) reported resurgent gasoline prices in the first week of May. Separately, April 2022 gasoline prices were up by 55.4%, versus a 65.6% gain in March 2022 and a 40.0% gain, all as measured against February 2020 pre-Pandemic price levels.

    Beyond the impact of volatile gasoline prices, headline April and March inflation numbers reflected soaring price pressures triggered by the Pandemic-related explosive growth in Federal Reserve Money Supply creation and in Federal Government Deficit Spending and Federal Debt expansion.

    The ShadowStats Alternate CPI Annual Inflation Index level (1980 Base) broadly has been confirmed by the general movements of, and increases in the Price of Gold since President Nixon closed the Gold Window in 1971. That is reviewed and will be detailed anew in pending No. 1461. Designed to reverse the inflation-reduction methodological gimmicks of the early 1980s, and after, the headline ShadowStats Alternate Inflation Index in April 2022 eased backed to 16.5% year-to-year, from 16.8% in March 2022, on top of the underlying headline CPI-U decline, but up from 16.0% in February, 15.6% in January, 15.1% in December 2021 and 14.9% in November, with the headline April inflation at its strongest reading since 17.6% in the traditional CPI of June of 1947, other than for the previous March 2022 headline, topping an interim peak of 14.8% in March of 1980, when the headline CPI of the time still was the same series that would become the ShadowStats Alternate Inflation Series, after January 1982. Again, the 1980 readings are consistent with, but predate the ShadowStats series, when the headline CPI still was reported on a reasonably consistent basis over time. The ShadowStats Alternate CPI-U estimate restates current headline inflation so as to reverse the government’s inflation-reducing gimmicks of the last four decades, which were designed specifically to reduce/ understate annual Cost of Living Adjustments to Social Security payments. Related graphs and methodology are available to all on the ALTERNATE DATA tab. Subscriber-only data downloads and an Inflation Calculator also are available there.

    Source: http://www.shadowstats.com

    Definitely worth a follow.

    • Agree: James N. Kennett
  8. Dumbo says:

    It’s not just the US, it’s global. Fasten your seatbelts, it’s going to be a bumpy ride.

    • Replies: @Ukraine Tiger
  9. White Core Americans are caught in the clutches of evil plutocrats who control the Federal Reserve Bank and the plutocrats are using monetary policy extremism to create asset price inflation bubbles in stocks and bonds and real estate and other assets and these asset bubbles primarily benefit the billionaires and the top ten percent loot holders.

    White Core Americans are stuck with inflation in fuel, housing, food, health care, clothing, beer and much else besides.

    White Core America Will Wipe Out Inflation By Wiping Out The Asset Bubbles

    WHIP…INFLATION…NOW! WIN

    White Core America understands that the Federal Reserve Bank and the other globalized central banks have created multiple asset bubbles over the past few decades and the current asset bubble is the biggest one yet and to prevent the political atmosphere from becoming unpleasant for billionaires there will have to be a coordinated globalized implosion of the asset bubbles.

    INFLATION is a monetary policy tool deployed by plutocrats and the top ten percent loot holders to inflate an asset bubble to benefit those who own the assets and regular people get the inflation in beer and housing and fuel and food and other things and that pounds the lower middle class and middle class and regular US people.

    The JEW/WASP Ruling Class of the American Empire controls the monetary policy and the immigration policy and they are connected. How?

    Inflation in wages has been suppressed by the use of mass legal immigration and mass illegal immigration. Central bankers have used nation-wrecking mass immigration as a monetary tool to prevent the wage inflation that would normally occur during bouts of monetary extremism. Carney at the Bank of England came damn close to directly admitting it, but he shut up about it because the ruling class in England don’t want to tell the truth too much.

    Raise the federal funds rate to 6 percent and then to 20 percent like it was in 1981, and fire sale the Fed’s bloated balance sheet and stop the quantitative easing and go quantitative tightening. Quantitative tightening will pop the asset bubbles in stocks and bonds and real estate and inflation will go away along with the great expectations of the greedy ones benefiting from the current global monster asset bubble.

    • Replies: @Anonymous
    , @Anon
  10. republic says:

    In Argentina during periods of high inflation they use to change prices in grocery stores 3 times a day due to rapidly increasing inflation

    • Replies: @JM
  11. Notsofast says:
    @Charles Pewitt

    so let me get this straight, if you’re born 1965 and later you’re a white core american patriot, but if you’re born 1964 and earlier you’re a treasonous baby boomer. if you actually believe this garbage you’re either a moron or a troll and you haven’t got a clue who your real enemy is.

    so what year were you born, moron?

    • Thanks: richebourg
    • Troll: Vinnyvette
  12. Joe Biden has the spiritual life of the results of a bowel movement in a stainless steel bedpan in a nursing home…..

    • Agree: JR Foley
  13. @War for Blair Mountain

    Could it be the case that America is governed by a literal shitstain?

  14. @Charles Pewitt

    The plan is this time it’s different. Technical innovation is going to deliver us into transhumanism AI utopia, real productivity will soar, the debts will be knocked out no sweat, and all the chicken little ninny cum poopie heads will be quietly enjoying the Great Prosperity. You (we) all will doubtless forget to even thank them.

    It will be ugly for sure the only question is when. Volcker Shock II ain’t gonna happen. There isn’t anybody who sees a need for it who could make it happen. If we are lucky the nukes won’t fly and set us back 1700 years.

  15. Cookie says:

    Well the rate is 8.3 if you throw in all the goodies nobody can afford anyway -thats another trick, load up on luxury items- if you strip to the basics such as food its more like 9.4% official (whatever that means?)

    I don’t know about you but I can afford not to eat cars…but I can’t afford not to eat food!

    • Replies: @animalogic
  16. “Highest Inflation Since 1981” Is a Canard – This Is the Highest Inflation Ever, By a Lot

    I say:

    Inflation is caused by the monetary policy extremism of the globalized central banks.

    Joe Biden is a rancid geezer rat politician liar who would never tell the truth about the monetary policy origins of inflation. Plutocrat scumbags have bought and paid for Joe Biden and Federal Reserve Bank Chairman Jay Powell. Biden and Powell are just three dollar whores for greedy, rancid plutocrat scum and other filthy trash.

    Monetary policy and ruling classes and demography and debt and globalization and financialization and mass immigration and multiculturalism and foreign policy: if a politician ain’t talking about those subjects it’s because the politician whore was bought off by treasonous donors to not talk about them.

    The JEW/WASP Ruling Class of the American Empire has demographically weaponized mass legal immigration and mass illegal immigration in order to attack and destroy the European Christian ancestral core of the USA.

    The JEW/WASP Ruling Class of the American Empire has used monetary extremism — zero/low interest rates, asset purchases, dollar swaps, debt(private/government)…etc. — to create asset bubbles in stocks, bonds and real estate. White Americans born before 1965 have been the biggest beneficiary of the asset bubbles in stocks, bonds and real estate.

    The JEW/WASP Ruling Class of the American Empire used the asset bubbles created by the privately-controlled Fed to bribe White Americans born before 1965. The reason that White Americans born before 1965 kept their greedy mouths shut about nation-wrecking mass legal immigration and mass illegal immigration and multicultural mayhem was that they have been bought off with the asset bubbles created by monetary extremism.

    Don’t forget what Volcker did in 1981 to extinguish inflation — 20 percent federal funds rate.

    All White greedy Baby Boomer cucks and other greedy geezers born before 1965 need to be financially liquidated by a massive increase in the federal funds rate and quantitative tightening.

    QUANTITATIVE TIGHTENING NOW

    IMPLODE THE ASSET BUBBLES NOW

    WHIP INFLATION NOW

  17. Don’t pop the bubble and everything explodes.

    Who cares what year born?

    That’s you who lose, tough shit. Maybe the ones like you will finally get off their stinkin’ asses.

  18. @Charles Pewitt

    You are an idiot and probably jewish.

    Boomer bashing is ALWAYS a cover for the damage the small hats did.

  19. @The Alarmist

    Came here to mention ShadowStats, of which I first became aware back in the early 00s.

    The Greenspan amendments to the CPI calculation mechanism – hedonics, OER (owner-equivalent rent) and chain-link substitution – are very easy to understand for anyone who is somewhat numerate and who spends half an hour on each concept, actually bothering to try to understand them.

    (For people who are highly numerate, you could cut that down to 10 minutes per concept)

    That’s maybe 30 calories of expenditure. That sounds a bit low, (since brain activity makes up ~20% of caloric expenditure) but a lot of brain related consumption of energy is ‘fixed’ – monitoring and controlling metabolism – and has nothing to do with cognition.

    Anyhow… the main (unstated, obv) reason Greenspan led the changes to CPI calculation had nothing whatever to do with ‘accuracy’ or any such falderol. It was to Jew (aka gyp) retirees by reducing COLA (cost of living adjustments), and to overstate real quantities (e.g., real GDP; industrial production etc).

    Every percentage point understatement of a price index (a deflator), raises the corresponding ‘real’ level of the thing to which the deflator applies – and for things like industrial production and GDP, falsely overstating real quantities also overstates productivity.

    This is why pretty much everyone has so much debt: they were encouraged to believe that productivity growth was being maintained, and that prices were ‘stable’… and so their core expectation was that they ought to be able to get ahead.

    • Agree: animalogic
    • Thanks: The Alarmist, Mark G.
  20. The “normal” federal funds rate is 6 percent. How about the privately-controlled Federal Reserve Bank immediately raise the federal funds rate to 6 percent? The greedy globalizer plutocrat shysters who own the Federal Reserve Bank sent out their former head shyster, Janet Yellen, to spread the word that 4 percent is the new “normal” federal funds rate.

    Paul Volcker got the federal funds rate over 20 percent in 1981 to wipe out inflation. White Core American patriots could quickly and legally retake control of the government if Federal Reserve Bank Chairman Powell immediately put the federal funds rate at 6 percent. The asset bubbles in real estate, bonds, and stocks would implode instantaneously.

    Remember, the shyster central bankers in the United States kept wage inflation in check by sending factory jobs overseas and by importing cheap labor in the form of mass immigration. The central banker shysters then used financialization to massively transfer wealth from the middle to the plutocrats.

    The percentage of corporate profits going to labor has plummeted in the last few decades.

    The Baby Boomers must be financially liquidated. The baby boomers should have been financially wiped out back in 2008, but the Federal Reserve Bank bailed them out.

    Zero Interest Rate Policy; asset purchases; money printing; dollar swaps; ballooning the balance sheet of the privately-controlled Federal Reserve Bank with mortgage-backed securities; all this was done to save the greedy baby boomers. The baby boomers used mass immigration, globalization, financialization and monetary extremism to steal the future away from future generations.

    The baby boomers are evil and will deserve the curses of those who come after.

    Andrew Jackson understood the money-grubbing shysters behind central banking; the baby boomers are Nicholas Biddle in generational form.

    • Replies: @Justvisiting
    , @David Homer
  21. Here’s something nobody ever looks at for some reason:
    https://fred.stlouisfed.org/series/M1SL
    https://fred.stlouisfed.org/series/M2SL

    Although this current price inflation is the result of many years of team effort by all parties, the most drastic inflation of the money supply occurred in 2020, presumably caused by the insane Free COVID Cash Frenzy. Biden’s suppression of domestic energy production undoubtedly gooses price inflation.

    • Replies: @Colin Wright
  22. Every so often I have a chance to see exactly what I paid for exactly the same item in the past, versus now — and the change always seems to come to a lot more than the stated rate of inflation.

    The last one was little peat pots for starting seeds indoors. I’d bought them from the same supplier three years ago, and I had an account, showing my past orders. How much had they gone up in price?

    It came to about 38% per year. I didn’t select this item either; it just happened to be something where I could conveniently compare apples to apples.

    • Replies: @Alrenous
    , @Justvisiting
  23. @gutta percha

    ‘Although this current price inflation is the result of many years of team effort by all parties, the most drastic inflation of the money supply occurred in 2020, presumably caused by the insane Free COVID Cash Frenzy. Biden’s suppression of domestic energy production undoubtedly gooses price inflation.’

    Maybe we should get with the programme here.

    Quit carping and complaining. Obviously, the administration wants to wreck the country in every way possible — legal and illegal.

    Okay — what can we to help? How can us ordinary folks work to make things worse? Pour sugar in an ambulance’s gas tank? Sprinkle head lice around the playground? What?

    • Replies: @cohen
  24. Remember, in 1981, Fed Chairman Volcker and the rancid globalizer shyster bankers knew there would be a debt binge after Volcker got the federal funds rate to 20 percent to extinguish inflation.

    Volcker most assuredly did set the stage for the Big Bond Bubble by moving the federal funds rate up to 20 percent in 1981. A private agent– Fed Chair Volcker — at a private banker consortium — the Fed — moved the federal funds rate to 20 percent and deliberately imploded all the asset bubbles and that killed the inflation that had been caused by prior decisions of the Fed. Once the asset bubbles were imploded and the inflation tamed and the economy contracted and the debts expunged or renegotiated, that was when the Big Bond Bubble kicked off.

    I say raise the federal funds rate to 20 percent like Volcker did in 1981, and implode all the asset bubbles, especially in stocks, bonds and real estate.

    I only care about monetary policy for its political and power interactions. The JEW/WASP Ruling Class of the American Empire has used monetary policy to buy off certain generational cohorts and to enrich themselves and to pauperize others.

    When this current asset bubble pops, the plutocrats and Upper Middle Class and the Baby Boomers will be legally but forcibly removed from the USA without any chance of going to another European Christian nation.

    White Core America is the new political party that will act like the Virginia Company did by muscling out the plutocrats and the corporations and by nationalizing the Federal Reserve Bank.

    White Core America will repudiate hundreds of trillions of dollars of government and corporate debt and private debt.

    White Core America will be the modern Virginia Company that advances the interests of the European Christian ancestral core of the USA.

    WHIP

    INFLATION

    NOW

    HOW?

    QUANTITATIVE TIGHTENING AND DEBT REPUDIATIONS

    DEBT JUBILEE FOR YOU AND ME!

  25. Alrenous says: • Website

    which is for some reason still online

    right lol

    Note that they report 8% inflation when it’s actually 15%, meaning that “four” billion for Gone With the Wind is actually more like five billion. Maybe six? It’s compounding, so the delta between real value and reported value explodes when you go further back.

    Fun fact: USD is debt-backed. That means, excluding some edge cases like physical coin, someone is paying a bank interest on every outstanding USD. You don’t own USD, you rent it. What a scam.

    More fun fact: because of the interest, there isn’t enough non-bank-owned USD to pay back all the debts. They print 100 but you owe them 105 after interest. They either have to print new money to pay the debts (which then draws its own interest) or let debts go into default.

    Yeah you sometimes need USD due to legal tender laws, but what kind of idiot holds USD unless you absolutely have to? It should be worth nothing. The market can remain irrational longer than you can remain solvent, but it will work out the natural price of USD eventually.

    Reminder: price controls are bad. They always lead to shortages. Gluts are also a kind of shortage – folk who want the good can’t afford it, so they sit on shelves instead of being used.

    Interest is the price of money. Especially in a rentier currency like USD. The Eccles Building causes shortages of money, meaning they bugger the entire economy.
    This is more or less the basic reason they keep having to print money and cause inflation: America can’t afford things, so they have to steal from the 75% of USD which are held outside America and just sort of redistribute goods, that Americans can’t afford to make, back into America.

  26. @peterAUS

    I can understand some of the most advanced network setups in the world, including the types of huge corporate cloud infrastructures you’re talking about. I can also understand the connectome (thus far), which is the entire network of the mean brain’s individual neural and synaptic connections. I can’t understand the financial system. Admittedly, I’m not an economist – whereas I am a neuroscientist and computer scientist – but I’ve put some serious effort into trying to understand the modern economy on my own time. Nothing I’ve ever studied as a dilettante has ever made less sense (and I have a passing interest in a lot of different things: philosophy, inorganic chemistry, quantum mechanics/physics, the intentionally straight-up bullshit neo-Marxist fields like critical theory, law etc. — none of it has ever been just outright unintelligible apart from modern macroeconomics).

    The only conclusion I was able to reach is, as you said, nobody could possibly truly understand all of this entire system in its praxis. Except maybe the people at the very pinnacle – the Rothschilds etc., or BlackRock/Vanguard owner types – who can get a true top-down, firsthand experiential perspective: e.g. “when I move this piece, x happens to the broader economy”. Being part of the super-elite class is the economics equivalent of a pathological neuroscientist having a perfectly-preserved brain to study until their heart’s content. But unlike the neuroscientist’s modest requirements, the elite economist has arcana that’s closed off to 99.999999% of the population. (Of course, the economist also has what is tantamount to a functionally unlimited number of donor brains to study, too — unbalancing the matter even further.)

    Also, more importantly, I just remembered that I straight up forget to reply to you when we were talking about geopolitics and exchanging email addresses in another thread. I’m very sorry, mate. I’ll go look at it immediately.

  27. Alrenous says: • Website
    @Colin Wright

    You can still get 1950s-style toasters. It turns out they do, in fact, make them just like they used to. It’s just that they cost \$350 now.

  28. @peterAUS

    Yeah…I think there is something to the idea of modeling the economy as a complex network that interacts with ecological systems….and H2O….Oxygen….minerals….soil…….and things I haven’t mentioned…..And no one knows how to model this complex web…

    My speculation is that Ec0nomic Growth and Growth in general doesn’t pay for itself…..There are exponential growth processes at work for which other processes just can’t keep up with……add in importing the nonwhite world into a America makes it impossible to solve the problems in America….And this suggests very very strongly Post-1965….that US Low Wage Labor Policy is the root cause of all the ails America.

    Post-1965 Nonwhites and there US Born nonwhite geneline should be seen for what they are:Non-Scab Labor……in addition to being a highly racialized nonwhite Democratic Party Voting Bloc that nullifies the NATIVE BORN WHITE AMERICAN WORKING CLASS HISTORIC MAJORITY….

    • Replies: @anonymous
  29. @Robert Dolan

    He’s gotta protect his Trust Fund….

  30. You know people why Paul Craig Roberts – my favorite author here, keeps warning you about a nuclear war?

    Because he knows it damn well that this fake money economy is about to collapse and then they will be ready for anything. You have been living on borrowed time and that time is almost over. This is now the beginning of the end. Your country is going down and you are going to have a rude awakening.

    Social unrest and riots, violence on the streets, soldiers on highways, burning towers, mass shootings, terrorist attacks, food crisis – in other words, a national catastrophe. The only thing that in theory can prevent it is a war, and a war with Russia is not going to be another war far away.

    Prepare for a hangover, alcoholics.

    • Replies: @Notsofast
  31. peterAUS says:
    @eternal anglophile

    …nobody could possibly truly understand all of this entire system in its praxis. Except maybe the people at the very pinnacle – the Rothschilds etc., or BlackRock/Vanguard owner types…

    Yep.
    And, based on that understanding they make moves which affect us. HARD.
    At least that’s how I see the paradigm since September 2019.

    …Also, more importantly, I just remembered that I straight up forget to reply to you when we were talking about geopolitics and exchanging email addresses in another thread. I’m very sorry, mate. I’ll go look at it immediately…

    Hehe…I WAS expecting the contact, and apology accepted.
    Anyway, give it a go and we could, I hope, chat about some things of mutual interest. Not much else, at this stage, we can do to try to get through what’s in store for us, I think rather soon.

  32. @peterAUS

    You wrote:

    Some (smart) people believe that nobody, actually, knows how to fix it [inflation]. Nobody.

    Those alleging this are not smart – in fact they’re incredibly stupid.
    Inflation is always and everywhere a monetary phenomenon – ALWAYS, with no exceptions.

    With that in mind, the way to stop inflation is EXCEEDINGLY SIMPLE.

    Stop printing/digitally increasing the money supply and it goes away.
    In the case of the U.S, even a cessation of money creation will not be enough, seeing as obscene quantities of USD are already circulating.

    The only solution is to REDUCE the amount of USD in circulation and drastically cut government spending supplemented by a wholesale culling of entire government departments and firing of parasitic government employees, so as to ease the burden on the productive private sector.

    The reduction of USD in circulation will of course bring on an almighty depression (which was going to happen anyway), but the sooner this ‘cleansing’ process is initiated, the sooner the U.S economy will recover.

    • Replies: @peterAUS
    , @Realist
  33. peterAUS says:
    @Truth Vigilante

    Disagree.

    Your suggested fix, as:

    …Stop printing/digitally increasing the money supply and it goes away….

    is simplistic.

    Now when/while we are talking, what’s your take, then, on:
    https://andreacecchi.substack.com/p/the-right-virus-at-the-right-time?s=r

  34. Jim H says:

    ‘We’re in the “looting the treasury” phase of imperial collapse.’ — Auron McIntyre

    Indeed. Print or borrow \$40 billion to supply overpriced arms to Ukraine — which adds nothing to US productivity — and wartime inflation cranks higher still.

    Clowngress has declared war on the American people.

    And you’d better believe we get it.

  35. Andrew Anglin, seeing as you’ve quoted a tweet from high profile Bitcoin aficionado Anthony Pompliano and seeing as the latter is a good pal of Peter Schiff, here’s a video of them together explaining the nuts and bolts of why we’ve had the chronic inflation of late and why it’s going to get much, MUCH worse:

    Around the 24:15 mark Peter Schiff says that Fed Chairman Powell said this about inflation:

    ‘…. he [Powell] acted as if nobody could have predicted this [the inflation], when it was the most OBVIOUS thing, that only an IDIOT could have missed it’.

    So there it is readers. Contrary to what someone earlier posted in this thread, that ‘a lot of smart people say that nobody knows how to fix inflation’, Libertarians that have a good grasp of the Austrian Economic School of thought like Peter Schiff and Dr Ron Paul have CLEARLY seen in advance that consumer price inflation was coming and now predict it will get worse still.

    It really is common sense actually.
    If you know what CAUSED the inflation then all you need to do is STOP DOING that which caused it.
    No need for the obfuscation from Keynesians like Michael Hudson and his ilk that for some unexplained reason, Ron Unz allows in the Unz Review to muddy the waters with his articles.

    • Thanks: Mark G., Realist
    • Replies: @peterAUS
  36. @American Citizen

    “As long as the EBT card keeps refilling they’re[poor people] okay.”

    Just as an aside, if I were Vladimir Putin, Xi Jin Ping or Kim Jong Oon, I’d find a way to zero out all the EBT accounts in August in, say, DC, NYC, Chicago, Philadelphia and Baltimore and then sit back and watch the fun begin.

  37. Bo Bo says:

    The federal government does not “borrow money” from the federal reserve. The federal reserve does not have any real money. It just sticks numbers in an account for the US treasury. It is all fake. The federal reserve essentially counterfeits money for the federal government. Inflation is really a euphemism for counterfeit money.

    • Agree: Commentator Mike
    • Replies: @Bo Bo
  38. peterAUS says:
    @Truth Vigilante

    By

    …Contrary to what someone earlier posted…

    I guess won’t be any response to

    ….what’s your take, then, on:
    https://andreacecchi.substack.com/p/the-right-virus-at-the-right-time?s=r…

    That’s fine.

  39. @peterAUS

    You said that ‘my suggested fix to inflation is simplistic’.

    Agreed – it is simplistic. And for a very good reason. The solution is in fact excruciatingly SIMPLE.

    It is not ‘my’ fix incidentally. Economists have known about it since the dawn of time.
    Of course, it begs the question, if it is so simple, WHY hasn’t it been implemented ?

    The fact is, because the U.S economy, corporate and consumer sectors are so indebted, it will bring on a crushing recession. There’s no avoiding it.

    BUT, to not ‘rip the Band-Aid off’ now and continue with the money printing, will eventually lead to an Inflationary Depression that will be far, FAR worse.

    Anyway, I skimmed through your Substack article and here’s my take.

    Your article stated (in relation to the threatening collapse of the REPO market in 2019) :

    This is the market in which European and non-European banks obtain dollars for their operational needs for transactions denominated in US dollars. This sector also works in a similar way to the ‘Repos’ and consequently the problem spreads and becomes a global issue.

    The Federal Reserve responds to the heartfelt appeal of the banks that are in mortal danger due to lack of liquidity and opens an extraordinary supply line of \$ 350 billion a day which in some cases even reaches peaks of over 800 and still that’s not enough .

    Weeks go by and banks no longer trust each other and a monetary collapse is approaching. Perhaps it is not clear what can happen in a monetary collapse. It is truly the worst case scenario. In a monetary collapse, all liquidity disappears because it no longer reaches the recipients. If this happens, the economy totally stops.

    The question that should be asked that isn’t is …. WHY ARE BANKS IN MORTAL DANGER DUE TO LACK OF LIQUIDITY in the first place ?

    The fact is, because the Zionist Usury Banking Cartel (that owns the Fed, Bank of England etc and controls the entirety of the western financial system), has purposely engineered infinitesimally low interest rates which enable:

    1) Corporations to borrow at near zero so that they can spend TRILLIONS to buy back their own shares and thus artificially goose up the earnings per share, even though actual company profits may be flat (or falling) in nominal terms

    2) Allow consumers to qualify for loans. mortgages, discretionary spending that they would not otherwise qualify for in an unmanipulated interest rate environment.

    3) Allow consumer and speculators to borrow and ‘invest’ in reckless speculation in the Stock market, NASDAQ and to blow their money on ridiculous items like cryptocurrencies, NFT’s and other digital token nonsense.

    4) Allow Zombie businesses (that never would’ve been started if market interest rates were in play and would not have lasted long before going bust if they did), to keep borrowing precious and finite capital on an unsustainable business model that has no right to exist.

    5) Allow governments the world over (but especially the U.S government since it is by far the worse offender), to borrow and spend like a drunken sailor to fund its chronic budget deficits etc.

    For example, if the Fed Funds rate were to go to 10%, which is historically what it was for most of the 1970’s (give or take), the MAJORITY of U.S budget would go towards serving the interest payments on the \$30 trillion of Federal debt owed.

    Bottom Line: Because so much money has been squandered on RECKLESS SPECULATION on these wealth destroying activities, this is WHY this lack of liquidity in the REPO market had come about.

    In a Free Market, banks that have liquidity problems would (and SHOULD) be allowed to fail.
    If they hadn’t loaned out recklessly, if they had operated prudently and had a ‘buffer of protection’ factored in to their trading activities (to withstand any market shocks in the event they occurred), then they wouldn’t have been in the precarious position they’re in today.

    PeterAUS, you have to understand, what you read in the Zio owned media about why the Fed needs to come to the rescue of the banks to avoid systemic failure and thus save the world economy from shutting down is ZIO PROPAGANDA.

    Just like in the 2008 GFC when the media was saying that the banks needed a bailout and TARP (Troubled Asset Relief Programme) had to be passed or there would be no economy on Monday morning (Fed Chair Ben Bernanke actually said that), this was all B.S designed to traumatise the masses and Congressman into passing the bill which would see the likes of Goldman Scahs-of-shit bailed out to cover for the reckless practices it had engaged in – that would have seen it deservedly go bankrupt.

    If a company goes bankrupt, it doe NOT disappear. The economy does NOT stop.

    Case in Point: Many major U.S airlines have gone bankrupt on numerous occasions.
    When it does, it goes into what’s called Chapter 11 protection and continues trading while it’s decided which creditors get what portion of it’s remaining assets.
    Said companies fleet of planes and assets do NOT disappear. The company is merely RESTRUCTURED and comes under NEW MANAGEMENT as unpayable debts and bad loans are liquidated.

    And so it would be in the case of a large bank. Citigroup, in the lead up to the 2008 GFC was the largest bank in the world by market capitalisation.
    It would have gone bust absent the government bailout. Had it gone bankrupt, a new owner would have taken over. It may even have continued using the same trading name and the transition may have happened seamlessly, with no disruption to customers.

    Importantly, a bank bankruptcy does not mean a loss of savings to depositors. The government guarantees to make whole any losses that depositors may hold – not that it’s generally more than a few cents on the dollar seeing as even a bankrupted bank still has countless billions in performing loans and assets on its books.

    It is the shareholders of the bank that get wiped out in the restructuring and that’s fair enough.
    If, as an investor, you didn’t do the appropriate due diligence and ascertain that the bank you invested in was trading prudently before purchasing its shares, then you deserve to lose your dough.

    • Replies: @Alrenous
  40. Alrenous says: • Website
    @Truth Vigilante

    Keynesians: “If you raise the supply of something, you lower the price of that thing. Except for money, because flumflemadorfamopugips.”

    • Agree: The Anti-Gnostic
  41. Alrenous says: • Website

    Folk like Keynes exist to justify what the government was going to do anyway. Sadly, if it were a good idea, they wouldn’t need to justify it, because the results would justify it.

    Nobody has to sell you on having a fridge, because they’re effective tools. There is no fridge philosophy. Nobody has an elaborate argument for electric power.

    Money printing is heroin for States. More precisely, debasement of the money supply. It’s addictive and degenerating, and ultimately fatal if you don’t kick the habit.

    However, once you’re properly addicted to heroin, if you try to quit cold turkey, you die. Withdrawal is fatal, without tapering. However, the addict’s behaviour is beyond their own control. Someone else has to force them to taper.

    Basically these Weimar-esque printing surges indicate the addiction has entered the next stage. This one is either the last or next-to-last, so have fun with impending doom.

    • Replies: @Robert Bruce
  42. @peterAUS

    Also, in relation to that substack article, I don’t know why you’re even paying attention to it.
    I’ve never heard of this non-entity Andrea Cecchi and, judging by stupid comments like the one below, you should be giving this guy a wide berth:

    Are there men or women capable of taking the reins in hand and wisely guiding humanity towards safe ground on which to rebuild a more solid and sustainable economic model?

    The solution now would be to undertake colossal public infrastructure works that would give people jobs, and by adopting adequate fiscal measures to guarantee the stability of the monetary flows. The merger between Central Banks and the Government that is taking place would facilitate the financing mechanism necessary to put these works into the pipeline.

    On the one hand Cecchi advocates for wise men and women with the capability to steer humanity to safe ground and then he advocates for the brain-dead solution of Colossal Public Infrastructure spending.

    Which is it ? It’s either one or the other, seeing as the latter will lead to the ruination of any society.

    Not only should there be no merger between Central Banks and Governments as Cecchi foolishly advocates for, but these Central Banks should be ABOLISHED forthwith.

    Even Blind Freddie can see that it is the Zionist Usury Banking Cartel owned central banks that have gotten us into the present predicament.
    Absent central banks, the MARKET would decide what interest rates should be as willing lenders and borrowers come together and come to some mutual agreement.

    I mean, just thikn about it. If a willing lender came across a potential borrower and saw that said individual has a good savings history, has little or no debt and had a good job that entailed that servicing the interest and principal repayments was a piece of cake, then said lender could lend at a low rate.
    Picture now the U.S government. The U.S government is the greatest debtor nation in the history of the world. (It was actually a creditor nation in the early 80’s when Fed Chairman raised the Fed Funds Rate to 20%).
    The U.S government npw has over \$30 trillion in debt and is not even capable of paying the interest on its debt unless rates are artificially manipulated to near zero.

    The U.S has NEVER BEEN IN A WORSE POSITION TO REPAY MONEY LOANED TO IT than it is now.
    Should we then, be lending to the U.S at lower rates or higher than in the past ?

    This is a no-brainer. The U.S is in imminent risk of default.
    No lender should be considering giving them ANY money and those that do should be demanding banana republic like rates of interest.

    Career politicians and bureaucrats have generally never run a successful business of their own – hence the reason they ended up in government in the first place.

    Anyway, getting back to government spending, a politician should should NEVER BE ENTRUSTED WITH GRANDIOSE PROJECTS AND PICKING WINNERS AND LOSERS.

    Almost invariably politicians pick LOSERS and wealth is destroyed.

    If some project or activity is viable and self sustaining, the private sector will finance it and preside over it.
    If, like building the bird chopping wind turbines, solar panels, Electric vehicles and other Green energy initiative hare-brained schemes you see the private sector (absent huge government subsidies) avoiding it like the plague, there’s a damn good reason for it.

    It’s because these are stupid investments that make us poorer and the world worse off.

    To his credit, at least Cecchi ends on a sensible note with this:

    Gold will then return to its leading role in the new economic system. This is also because gold which is scarce, will prevent the economy from exponentially expanding, creating imbalances and providing a solid base on which to start again in a more sustainable way

    • Replies: @peterAUS
  43. anon[286] • Disclaimer says:

    Viktor Orban vetoed the US proposed European ban on importing Russian oil. Gasoline prices in the US are the major driver of this inflationary surge.
    The US decision to haul out an ad hoc version of sanctions “shock and awe” is showing the inevitable blowback. Europe has reluctantly gone along with the Kagan aspirational proxy war vs Russia. But except for Neocons and the desperate Joe Biden, no one much cares about Russia vs Ukraine.
    It’s going to be a lengthy war of attrition.
    Sanctions have already failed to deter Russia from destroying Ukraine.
    Poorer countries that import a lot of grain are going to suffer the most. Why should the entire world subsidize the US’s hegemonic aspirations vis a vis Russia? They didn’t start it. And they didn’t get a vote.
    Already, the BRIC countries are ignoring sanctions. Without Ukraine, inflation was a problem. Our deep state decided to ruin Russia by with sanctions, and this is sheer madness.

    • Agree: inspector general
  44. Anon[163] • Disclaimer says:

    Good. All those greedy fvckers I hear on weekend radio shows talking money and investments and pensions and 401k’s and all that crap I don’t understand, will live to see their money evaporate.

    All those greedy teachers, cops, firemen, military pulling down big bucks and retiring on disability with generous pensions in their late 40’s will be screwed with their worthless Weimar Papiermark.

    And what makes it double-dose schadenfreude is these same fvckers were faithful servants of the rootless cosmopolitans and sold their country and heritage for 30 pieces of silver so they could have a cushy retirement in a tax-free state. Meanwhile the rootless cosmopolitans turned this country into a third-world flop-house welfare state which will never be able to turn around the downward spiral as other homogeneous nations were able to do historically (Germany and the U.S. in the 30’s, Russia in the 00’s, etc.).

  45. mike99588 says:

    There are US history issues with “highest ever”

    1770s-1780s pre-Constitution,
    1860s discount on greenbacks (try 1862-64, never mind CSA hyperinflation),
    early 1980s the momentary inflation peak was ~20%, maybe higher

    We get into record quality and definitions that mask a lot of big lies in specific quarters of the year during the 60s 70s, 80s when sector price increases often hit like waves.

  46. @RIchebourg

    Hopefully, those “bodyguards” they hire will for some reason turn against them if you know what I mean. And these psychopaths will be looted! Because when one has nothing to lose, one loses it!

    • Replies: @Fred777
    , @neutral
  47. Trevor says:
    @War for Blair Mountain

    When homosexuals and tranny freaks rule America….this is what you get….

    … plus more and more blacks just like South Africa.

    Questions about the 10s of \$billions going to Ukraine:

    What is the “big guy’s” cut?

    How much is coming off the top and going to who?

    Will Joe and Hunter and Barrack get a kickback from Ukraine either now or after he gets out of office? (of course they will -rhetorical question). How much again?

    (Precedents have been established with Ukrainian payments to Hunter. The current president of Ukraine was put in office by the Obama/Biden/Hillary/Kerry coup and he got rid of the prosecutor who wanted to investigate Hunter as part of the deal.)

    What does Georgy Schwartz aka (((Soros))) have to do with this?

    Like Titanic, we could go on ….

    • Replies: @Colin Wright
  48. Unfortunately the West has been built on lies since 1492! Don’t expect any major changes to the status quo any time soon.

  49. peterAUS says:
    @Truth Vigilante

    Well…well…I stand corrected.

    I don’t know why you’re even paying attention to it.

    Because he, in that and related articles there, defines and describes the problem, IMHO, rather well. More importantly, he describes the tools TPTBs have been using to tackle it. The Scamdemic, the war in Ukraine etc. Hints, even at how the life will look like for people like me.

    That’s for the problem.

    As for the solution he isn’t offering any.

    So

    …if it is so simple, WHY hasn’t it been implemented ?..

    Human nature?! Can’t wait to get into it…NOT.

    I am not even, here, interested in knowing the fix. Even if I knew it wouldn’t make any difference. BTW, I do hope that whoever reads this understands that even if all of us in this online pub agree on the fix, again, wouldn’t make any difference.

    What does interest me is how to weather what’s coming. Or…how will that look like and what people like me can do to get hit the least. It’s about minimizing the damage if you will, not preventing it.

  50. Cookie says:

    Solution is quite simple, hang the crooks who got us here, reissue currency in a ten to one ratio and remove middle men parasites out of the system.

    Might keep it ticking along for a while.

  51. @peterAUS

    Somewhere between inflation, stock devaluation, money printing, endless war, bla bla bla, have there been a more vicious den of thieves, a synagogue of Satanists now rejoicing at this moment.
    Never in the history of mankind have a destroyer of nations have been more exposed in their quest for world domination.
    I pity the weak, the destitute, the hard working folks that will suffer from incompetence who represent GlobalHomoZioBIGsRxMIC3BLM PIGs.
    May God have mercy on their souls, if they even have one.

    • Agree: Kolya Krassotkin
    • Replies: @GMC
    , @Old and Grumpy
  52. @peterAUS

    A crypt (((as in Crypto Coins))) is where vampires lay in wait for there next blood sucking victim.

    This is what the current stock market trends are now forecasting.

    There are no safe havens anymore.

    As a great sage once said, “we are doomed”.

  53. @Robert Dolan

    Boomer bashing is ALWAYS a cover for the damage the small hats did.

    Amen. Indeed, virtually all Jewish-sourced propagandizing with regard to “distinctive generational characteristics” is a red herring. But because it’s a form of propaganda that gives the appearance of Deep Thought, lots of people who simply want to appear smarter than they actually are swallow it hook, line, and sinker. What most notably distinguishes Gen X’ers from, say, hippies are the ways they kid themselves about how unconventional they are.

    The fact that ought to matter most about the Baby Boom is that it came to pass because war-weary veterans and the girls who loved them wanted to restore, for themselves and their children, the sort of normal white Christian society that a terrible depression and a more terrible and needless war—both of them coproduced by Jewish moneymen and FDR—had robbed them and their parents of.

    Every Jew-named generation that has come along between then and now has been a fiction of make-believe newness, with each shiny new name serving as a distraction from the never-changing, singleminded aim of the Jews who run the show: to eliminate forever the original Boomer parents’ dream of a normal America.

    “Normal” is now as much a curse word as “white” is, and “marriage” isn’t far behind.

  54. Karl1906 says:

    Yep, you Americans are fucked. And it doesn’t matter what happens in the coming election cycle as it will only “flip” the coin to the other side. (Because it’s not RINOs – it’s the Republicans overall that are the problem.)

    And your very own establishment doesn’t even like elections at this point because (some) results may endanger their ongoing crime schemes. So there will be voter fraud galore and nothing will happen.

    You will own nothing and you will be happy. Those of you still alive that is. Schwab just forgot to tell you the last point.

  55. Some basic economic truths everyone seems to forget:

    INFLATION benefits the debtor and does not benefit the creditor.

    Example: you borrow \$100 @ 10% interest/one year term from Bankman and buy a milk cow from Bankman for \$100. Annual INFLATION: 10%. You pay back after one year: \$110. You have paid NOTHING for the money you borrowed, i.e. the price of the money you borrowed was \$0. You sell the cow to Bankman for \$110, which is the new price of a cow because of inflation. You had one year’s supply of milk and it cost you \$0 (except for feed etc). Maybe you sold the milk you couldn’t drink yourself and thus made money all year. Bankman made no money on the money he loaned, plus he lost the use of a cow and had no milk for one year.

    DEFLATION benefits the creditor and does not benefit the debtor. Reversing the above example, with an annual DEFLATION of 10% you would still pay back \$110, but that money is now worth 10% more than when you borrowed it, so the creditor Bankman makes not just the interest but now has money that is worth more than when he lent it, and when you sell the cow to Bankman the price he pays is \$90. Thus you lost money, (depending of course on how much milk you sold) and the creditor Bankman made more than the rate of interest on the loan plus has the cow.

    The great destroyer of the middle/working/debtor class in the Great Depression was not INFLATION but DEFLATION.

    Note: of course inflation only helps the debtor IF his wages/revenues increase at or above the rate of inflation.

    (In fact of course the change in purchasing power either way would be 11.1%)

    • Replies: @Truth Vigilante
    , @Miro23
  56. @ BoBo

    It’s pure criminal activity. If you did it they’d lock you up but they get away with it because they do it with government approval. Get rid of the Fed.

    And while you’re at it get rid of politicians and billionaires. In this system it is the poor that subsidise the rich and the layabout parasite politicians through taxes, fines, price rigging, etc. They collect a little from each person of the multitude and then give it to a few rich as some kind of bailouts, government contracts, whatever not, but they should all be going bankrupt considering the state of the economy and how they run it. And then the arrogant rich and their corrupt partners in crime, the politicians, get to hector you, gaslight you, and befuddle you with tons of bull shit about how they’re doing something useful for society, how they earned their wealth honestly, how they are somehow more intelligent, clever, and hardworking than you, and how you should be grateful to them for some stupid reason that nobody seems to understand. But hey, they’ve got the cops and soldiers in their pocket and that’s all that ultimately counts.

  57. cohen says:
    @Colin Wright

    Colon Whole.

    You are back again?. This time as a self proclaimed economist again a legend in your own mind.

    What happened to your 5-5.1 million deaths in Holohox. Your personal well thought numbers that flashed in your mind while jerking of in front of your cat. All you have to do was to google and look at Plaque at Auschwitz gate. It read 1.1 million (that includes jews, gypsies, gays, political dissidents). But NO……….. your thought out numbers are more meaningful. And according to you Columbus helped the Natives by killing them. Are a southern preacher in Alabama.

    Just like David Irwin’s historical writings are trash (your words). So when are you going to get your head cleared and stop smiling in front of the mirror in the morning.

    BTW. I understand that your persistent abuse of your your little cat (jerking in front of her) resulted in her committing suicide. It is animal torture. Shame on you. Get a sheep instead

  58. Jiminy says:

    I filled up a jerry can the other day and was at the counter about to pay when I froze and tried to mentally confirm the price. It’s been a while since I bought fuel. I couldn’t get over the cost.
    In the late 80’s, as people keep saying, interest rates were very high. But back then you could get 18% on a fixed term deposit, let it roll over and you were laughing. It’s almost to the point where you have to pay the bank to take your money these days, the rates are so low.
    Here the common theme seems to be for both couples to work. They have multiple cars, pay for childcare, motorbikes. In fact they want everything yesterday, bought using someone else’s cash. Trying so hard to keep up with the Jones, even if it will kill you.
    But in the story above, why would a mother need to spend money buying baby formula? Through evolution she is producing the best food available for a growing child.

  59. @Cookie

    “but I can’t afford not to eat food!”
    Oh, go on- try! Eating food — that’s very self indulgent. You must be unconditionally willing to sacrifice for our Betters.

    • Replies: @Kolya Krassotkin
  60. @eternal anglophile

    Don’t forget 2 facts about money/economics.
    First – those with power here simply LIE.
    2nd — economics is not a science. It’s not much of a social science. Wrong theories continue to prosper b/c it’s advantages the 1% & the academics who contrive this economic nonsense.
    So — you can well be forgiven for finding economics hard to understand.

    • Replies: @Justvisiting
  61. gotmituns says:

    Interesting that next year is the centennial of the great inflation in Germany, 1923. I wonder if that is meaningful to us?

  62. @The Alarmist

    The ShadowStats graph of inflation calculated by the old and new methods:

    Their figures for money supply are even more worrying. M3, formerly growing at around 5% per year, is now growing at over 30%, which is higher than it was the peak of the asset bubble in 2008.

    In 2006, ShadowStats reported with dismay that the Fed had stopped publishing official figures for M3, and so it had to calculate them itself. It turned out that this was at the start of the 2006-2008 asset bubble that preceded the Credit Crunch. It’s almost as if the Fed had wanted to hide the bad news.

    [MORE]

    M3 money supply:

  63. @American Citizen

    Just remember that the middle class voted for this.

    They voted for the scum in office. That scum lives like kings, writes the laws that shield them, steal your money by calling it taxes, sends hoards of morons in costume to murder people they don’t know, etc, and people demand more gov’t.

    You can’t fix stupid.
    Ron White

    • Agree: Realist, EdwardM, Bert
  64. @peterAUS

    Inflation is always and everywhere a monetary phenomenon.
    Milton Friedman

    Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery,
    let them continue to create deposits.
    Josiah Stamp – Director Of The Bank Of England Speaking At The Commencement Address Of The University Of Texas In 1927

    Anything else said about inflation is bullshit trying to justify an outright fraud.

  65. @animalogic

    To paraphrase Herr Schwab(Listen up, people): You will eat nothing and be happy.

    (Vlad, if you’re reading this, save some missles for Davos. Humanity would be forever in your debt.)

  66. onebornfree says: • Website

    A.A.: “The current government – along with all of these special interest groups that control the government – are looting the national treasury.”

    Reality fact:

    “When plunder becomes a way of life, men create for themselves a legal system that authorizes it and a moral code that glorifies it.” Frederic Bastiat

    Regards, onebornfreeatyahoo

    • Agree: HdC
    • Thanks: Commentator Mike
  67. Fred777 says:
    @omegabooks

    “Hopefully, those “bodyguards” they hire will for some reason turn against them“

    They won’t. That the rich can hire one half of the poor to kill the other half has never been more true.

  68. Decades of Republican mismanagement, looting the economy, dismembering the safety net and the healthcare system – now blame it all on a senile career hack and screwups who don’t know which bathroom to use, good thing you reasoned this out on your own and aren’t mindlessly repeating what you’ve been told to believe.

    Funniest thing is that folks aren’t complaining that they have to do without, only that they have to pay more. Which in the real world translates into going deeper in debt to – well gosh, to the same interests that own all your sources of information!

    • Troll: Pierre de Craon
  69. @Kolya Krassotkin

    Every Walmart in America would be burned to the ground on that day.

    • Agree: Kolya Krassotkin
  70. Realist says:
    @American Citizen

    This is designed to kill the middle class. They’re the only ones this kills.

    Hopefully, the middle class will wise up and return the favor. But it doesn’t look too likely.

    Don’t forget, Eat the Rich

    Jean-Jacques Rousseau

  71. Jake Dee says:

    Anyone else familiar with Eric Weinstein’s take down of the Boskin Commission ? The way he says it, in 1995-96 they cooked the books by adjusting the Consumer Price Index by the exact percentage required to save/steal 1 trillion from social security.

    It’s a great video, Joe “Horse Wormy” Rogan with Eric “Dark Web” Weinstein. It covers not only “The Commission” but also the corrupt Power/Academic nexus of Harvard. Barack Obama Snr. gets a mention, quite a rabbit hole.

  72. America’s only way out of this mess is to break up China and Russia and loot both. Once you realize the US is facing an existential crisis you know they will lash out at everyone in desperation. I for one expect World War III soon.

    • Replies: @Sir Launcelot Canning
  73. Realist says:
    @Truth Vigilante

    With that in mind, the way to stop inflation is EXCEEDINGLY SIMPLE.

    Stop printing/digitally increasing the money supply and it goes away.

    Agreed…but for added benefit…seriously raise the Fed Rate.

  74. Petermx says:

    “How can both parties agree to send \$40 billion to a foreign nation during an inflation crisis while people can’t buy baby formula?

    Easy, we’re in the looting the treasury phase of imperial collapse”

    No, that isn’t an answer. There are at least two reasons that explain why the bankrupt US sends billions to help a foreign country while the US is heading fast towards third world shit hole status. One answer lies in the top donors of the Republican and Democratic parties. These people play a big
    role in influencing presidential and other candidates after paying them off. That’s how “democracies” work. Someone pays a candidate large sums of money and then the candidate does what the briber wants.

    If the briber is motivated by something other than concern for his own country then he can push policies that have nothing to do with the US. Here is the list of top donors to the candidates of both political parties for 2020. The key here is the ethnic makeup of the donors. That will have been roughly the same for many years, going back 40 years, 50 years and possibly much longer already.

    https://www.opensecrets.org/elections-overview/biggest-donors

    The top three donors are Jewish. Judging by the name, donors number 7 and 8 are almost certainly Jewish also. That makes “at least” 5 of the top 10 donors Jewish. Number three “might” be only half Jewish according to his bio but as the son of a Nuremberg prosecutor, I’ll just call him a Jew if it’s alright with you. The top donor was the casino magnate and billionaire Sheldon Adelson (now dead) and his wife Miriam. They donated to the Republican party. The two top donors to the democratic party were Michael Bloomberg (former NYC mayor) and Thomas & Taylor Steyer, both Jewish. They often include their wives names when making a donation. Each of these people are highly political, motivated by politics as evidenced by the fact they give away huge amounts of money to political candidates.

    I’ll just examine Sheldon Adelson, the biggest donor of them all. He was known for saying “Israel is my only concern” or something like that. I don’t have the exact quote. That was his issue, keeping Israel strong and making it stronger and he was well known for that. A video of him surrounded by all or most of the Republican presidential candidates for 2020 I believe could be found on Youtube. He helped get Donald Trump elected. But it’s interesting that Trump initially said he would not take money from anybody, saying he had his own money and would’t let himself be influenced. The fact that he said this in a speech to a Jewish group caused them to call him anti-Semitic. Not allowing yourself to be bribed is anti-Semitic. Trump also said he would try to solve the Israeli-Palestinian issue, indicating he would take a fair approach for both sides. The Jews were outraged. A fair approach? No, we want to ensure Israel writes up the agreement and the Arabs can just sign. We don’t want “fair”.

    Later on Trump did accept money and he got a big donation from Sheldon Adelson. His Jewish son in law, who really had no qualifications became very influential in the Trump administration, playing a big role in issues relating to Israel. The “fair minded” Trump bombed the living daylights out of Syria, murdering many Arabs and that was a huge boost for Israel which borders Syria and the two countries have been arch enemies since 1948, fighting several wars of world importance.

    Trump also murdered the Iranian General Qasem Soleimani. Israel and Iran are also arch enemies.
    Trump said he did this because Iran was attacking American soldiers. I don’t know but I do know the US and American soldiers attacked Syria and were killing Syrians and Syria and Iran are allies. Syria’s leader Assad asked the attacking Americans to leave but they continued to maim and kill. Russia, on the other hand was asked by President Assad to help militarily.

    So, after being bribed by Sheldon Adelson with huge sums of money, Adelson got Trump to become a “Israel firster”. That might not be such a problem if he wasn’t president of the USA. Trump’s own ethnic background is interesting when you consider Trump’s close relationship with Jews. His grandparents on his father’s side were German immigrants, German speakers of course and no, they were not Jewish. I wonder what they would have thought of Trump’s politics. Their generation may have been the low point historically in German-Jewish relations.

    So, this is just one donor I examined, the biggest donor whose most important issue is Israel and Jews. Every other donor is motivated by politics too and their issues are probably similar to Adelson’s. Historically, Ukraine had a very big Jewish population and Jews want to have a big say in Europe, Ukraine and Russia’s future. That is one of the biggest reasons why “both parties agree to send \$40 billion to a foreign nation during an inflation crisis while people can’t buy baby formula”. Americans don’t take priority over Ukrainians. Not, that Jews like Ukrainians. They popularized the word “NAZI” and have given it its current meaning and they consider Ukrainians “NAZIS”. Many have said so repeatedly over the years. But they want to determine what kind of country Ukraine (and every other country will be like in the future). They don’t want a proud, united people that work to make Ukraine a better place for Ukrainians. They want to make it into a multicultural country, like they have helped do to western Europe and the USA. That way they can prosper there. The problem is Europe and the US are failed states due to multiculturalism.

    • Replies: @Realist
    , @Badger Down
  75. GMC says:
    @CelestiaQuesta

    Ya, totally agree – there are no solutions that the US Gov will institute or are even act responsibly enough to start – such as a State of Emergency Program. Their answer for all their corruption, treason etc. etc. etc. is another World War . They think it will hide everything and they’ll be able to convince the West – Their Downfall, their failures are because of Russia.

    It’s over for the citizens, but many have already been totally programmed, so they will believe whatever Oz – says. And then there is – POland – another idiot puppet.

    • Thanks: CelestiaQuesta
  76. Emslander says:
    @Charles Pewitt

    It’s idiotic to blame the screwed up mess we’re in on the Boomers or on any broad and unmeasurable group. The mistakes started in 2008, when the government assumed the debts of the New York banks that over leveraged the housing boom with credit default instruments. Anyone with brains knew that the best way to deal with their isolatable mistake was to let them fail. Instead, they were considered “too big to fail”.

    Midwestern banks declared at the time that they didn’t need to be bailed because they hadn’t engaged in the looney tunes debt multiplications. They were ignored. We propped up the looney tunes economy and haven’t been the same since.

    Sure, go ahead and set rates at 20 percent. I don’t have debt and I raised my family of five children by working 30 years for shit people and shit institutions at ridiculous pay. I saw in 1978 what was coming, because I saw how badly the younger people were being educated and how high they were climbing influentially. I knew that family solidarity and even a little poverty were better than incurring ridiculous debt. I’m a Boomer and have nothing to be ashamed of.

    • Agree: Fred777
    • Replies: @Pierre de Craon
    , @TTSSYF
  77. Emslander says:

    Janet Yellen said yesterday or the day before that killing the unborn is the answer. There you go.

    I say the answer is a return to the general Christian principles that built civilization on the traditional family and faith in a beneficent God.

    • Agree: Durruti
  78. profnasty says:
    @Alrenous

    US can make toasters for far less than \$350.
    Simply apply Welfare money spent on healthy people to factory production; ie toasters. Tariff Chinee toasters.
    Money saved on unjustified Welfare will offset manufacturing development.
    Idle hands are the devil’s workshop.
    You’re work will make you free.

    • Replies: @Alrenous
  79. Rising inflation is a prelude to the upcoming attack on a blameable culprit, i.e. China. Our Judeo-Homo-Anglo are in the final stages of a total meltdown.

  80. @Jiminy

    It’s almost to the point where you have to pay the bank to take your money these days, the rates are so low.

    You already have to. Bank of America will agree to one-half of one-percent interest on a 37 month CD–minimum deposit \$10,000.

    \$10,000 to get \$10,015 back three years and one month from now. With inflation running at 8% annually, per the banking sector’s own calculations.

  81. I was reading the Catholic Pope’s message last night on the Vatican’s website…. My thoughts:

    1)Pope Francis’s message could have been written by the Association of Manufacturers…the Chamber of Commerce….and Alan Greenspan…

    2)Pope Francis is an old farting homosexual pederast…

    3)All Catholic Cardinals are old farting homosexual pederasts…

    4)Cardinal Timmothy Dolan is an old farting homosexual pederast…..

    5)the photo that came with the Homosexual Pederasts Pope Francis’s message was literally a photo of the Muslim Rape Army of young Muslim Men coming into Europe……

  82. @CelestiaQuesta

    Judaism doesn’t deal with spirituality of the soul. It is literally a soulless religion.

  83. Petermx says:

    “If you read the government’s explanation for this, they will say that they made the CPI “more accurate.” Well, okay – it’s going to be a relative number regardless. But if it’s more accurate, then go back and adjust the 13% in 1980 using the current method….”

    They haven’t made it more accurate. They have made it more inaccurate. Peter Schiff explains in another presentation how they changed estimating rent that people paid for an apartment or home. They no longer ask people how much they rent out apartments or houses for. They now ask apartment of homeowners not renting homes out that if they would rent their home to someone, how much would they rent it out for. I’m not making this up. Schiff explains this and he says most people not renting a place out have no idea how much they might get. Obviously, if you ask someone that is actually renting a home out how much they earn you would get a more reliable figure.

    • Replies: @Truth Vigilante
  84. Diesel prices are now kicking in. I think everything in the grocery store went up in just one lousy week.

    • Replies: @Commentator Mike
  85. @Charles Pewitt

    Less than 1% of 1% of baby boomers held the power and did the damage.

    To blame the other 99.99% is rather amusing.

    • Agree: Fred777
  86. @Colin Wright

    Folks with check registers can just compare checks they cut in the last month or so with checks from the same period for recurring bills one year earlier and two years earlier.

    The numbers will speak for themselves.

  87. Rurik says:

    it was always inevitable, because they always do it, and always get away with it, so they figure why not?

    in the famous words of Eli Wallach in The Magnificent Seven

    If God didn’t want them sheared, He would not have made them sheep”

    The ((Fed))), caused the Great Depression, they presided over the S&L mass looting. They caused the 2008 housing bubble, by pumping Wall Street with easy cash, and with all those collateralized debt obligations and credit default swaps and every other kind of financial swindle under the sun, with the ratings agencies and SEC all in on it. And then popped the bubble once they were out, and watched the American and global middle class reel from their unprecedented financial criminality. And not one of these uber-criminals was so much as scolded. (except for Iceland, where the people are not as dumbed down as the ZUS and Canada and Europe).

    And it was all caused by the ((Fed)), whose reason for existing is to specifically prevent the exact same thing that it’s causing. Just like inflation. The Fed is supposed to protect the value of the dollar, and it does the opposite.

    But because our entire nation and society and the organs of law enforcement and congress are controlled by corrupt scum, they sit on their hands and take their thirty shekels instead of enforcing the laws.

    It’s all rotten and set up to serve the billionaires, only now it’s right in everyone’s face. They’re handing themselves trillions upon billions in secret and not-so-secret “deals”, as the middle and working class are reeling, and they’re laughing in your faces, because all a congressman has to do to get reelected, is say “abortion is murder!’, and the sheople will ignore (because they can’t comprehend it) all the looting and financial treachery that is impoverishing him and his family, and ((PTB)) know they’ll never have to answer for it, because they never do have to answer for anything they do, no matter how Biblical the levels of perfidy and betrayal.

    Eli Wallach said it best..

    • Agree: Truth Vigilante
  88. @animalogic

    Economics used to be called the “dismal science”.

    In fact it cannot be a science since it is impossible to fully reproduce initial conditions.

    It is scientism–fake science.

    • Replies: @Emslander
  89. Richard B says:
    @American Citizen

    This is designed to kill the middle class. They’re the only ones this kills.

    …the middle class, the paycheck-to-paycheck person who fell for the nonstop consumerism of the last 65 years? Going to be crushed.

    That’s true.

    Then again, anyone living paycheck to paycheck has already sunk well below the middle class and already are crushed beyond repair. But they are not the only ones this kills.

    This is also negatively impacting the hostile elite. Not only do we have to get over this superstition that they are invincible, we need to pay attention to the many ways they are digging their own grave. From the article:

    I hope Tucker brings him back on to do that segment again. Or he could bring on some Bitcoin guy. Everyone in libertarian circles is aware of this major factoid, and they’re all about ready to smash their heads against the wall looking at this “highest in 40 years” line the media is shilling.

    Every. Single. Time.

    Oh, and speaking of Tucker and that well known phrase and who it directs attention to, anyone see him last night use that very phrase twice, like a pair of bookends, during his monologue? From 9:31 to 9:51

    The second time he says it he give it that emphasis – the kind every who uses it does.
    It was good to hear. And as for those JIDF Trolls writing out of the ADL headquarters in NYC posing online as “Right-wingers” who bad mouth Tucker (if they’re not trolls they might as well be) who cares what you think? The point about Tucker is this: Is what he’s saying relevant and useful? It’s pretty obvious that the more relevant and useful his comments are the more the trolls come out of the woodwork. Oy vey!

  90. Rooster14 says:
    @Charles Pewitt

    They can’t raise the rate to 20%, they most likely can’t raise it much past 3%. In the 70’s the “Debt to GDP” ratio was much different than it is today. Now, every 1% increase equals roughly \$300 billion added to the serviceable debt. By raising the rate so high, you literally get to a point where all the tax revenue is going to service the national debt and nothing else.

    The Fed knows this, that’s why their main tool now is jawboning the market. That way they try and scare the market into doing what they want it to do without actually following through on drastic rate hikes. However, if the market calls the Fed’s bluff, it’s all over because the Fed literally cannot raise rates to the necessary levels for the reasons I mentioned before.

    I believe the Fed will continue to talk a tough game, and follow through on a few more rate hikes along with some quantitative tightening, but the carnage in the market will force them to reverse course sooner than later. By the Fall I expect them to reverse course and start lowering rates and quantitative easing. If the Fed must choose between Wall St and Main St, the Fed will choose Wall St every time. That means inflation is in our future for quite a while, prepare accordingly.

    • Replies: @Sam Hildebrand
  91. Anon[348] • Disclaimer says:

    Shadowstats is the website where inflation and unemployment and GDP are calculated the old way.

  92. @Realist

    You’re both wrong. You have to get rid of the excess dollars in circulation to have any effect on its purchasing power. Interest rate slows the rate of inflation but does nothing to it long term to stop or reverse inflation.

    The Fed can do absolutely nothing to prevent the crack up boom that’s coming. They will, of course, try or should I say, pretend to do something. About 80% of the world’s population is now in countries that are not aligned with the US with nuclear nations, China and Russia, among them.

    All the US dollars off shore will eventually find their way home to further increase price inflation regardless of any interest rate machinations. The Fed has lost control of the situation.

    • Replies: @Realist
  93. neutral says:
    @omegabooks

    There is no shortage of ambitious thugs that are willing to become bodyguards to the political scum. I certainly support all these corrupt politicians being shot, but the bodyguards are not going to do that until the point is reached when they realize they are on the losing side.

  94. @WingsofADove

    Dove Wings writes:

    The great destroyer of the middle/working/debtor class in the Great Depression was not INFLATION but DEFLATION.

    That statement is straight from the Zio playbook of disinfo that’s being propagated in the MSM.
    This is the Orwellian mindset that they want people to have.
    ie: that you should rejoice that the price of everything is going up and that you should fear if the goods and services you require are cheaper tomorrow than they were today.
    And it appears that you’ve swallowed their propaganda DoveWings.

    In fact the opposite is true.

    Even though money was hard to come by during the Great Depression, because of deflation when you had some money, your purchasing power actually INCREASED and you could buy more for a dollar than you could in the 1920’s.
    So, to that extent, the fall in prices contributed to easing the burden during those difficult years.
    Absent the fall in prices of goods and services in the 1930’s, things would have been much worse.

    Contrast that to the Inflationary Depression that’s coming. Yes, you’ll have more dollars in nominal terms but said dollars will buy LESS.
    And if it spirals into a hyperinflation, then wheelbarrow loads of money won’t be buying you much.

    Now, whilst it’s true that inflation does help DEBTORS more, what class of people are taking out the big, BIG loans to buy multi-million dollar homes, commercial property, farmland and other tangible assets that the inflation will greatly assist in reducing the repayments of principal and interest in real terms ?

    It is certainly NOT the poor and lower classes. The poor are a bad credit risk and no one is lending them any amounts of substance.
    Sure, the working poor are forever in ‘debt’ in that they have unpaid bills and there never seems to be enough to cover all expenses.
    And they’ve perhaps run up a few thousand in debt on their credit card.
    But these are nickel-and-dime debts in the grand scheme of things.

    The 1% (or perhaps the 1% of the 1%), are running up debts of scores (if not hundreds) of millions.
    These are the people that are buying up income yielding hard assets that will be ‘inflation protected’ – because said assets tend to appreciate and keep up with the rate of inflation.

    THEY are the beneficiaries of inflation.

    The average Joe who has been prudent and saved for a rainy day will find that his savings will be inflated away.
    The average Joe who previously was spending say 25 – 35% of his income on food and energy bills in the past, now finds that after inflation has really kicked into high gear that he’s spending 50% – 70% or more of this income on these items, leaving little left over for rent/mortgage repayment or other necessities.

    Make no mistake, IT IS THE LOWER AND MIDDLE CLASSES THAT ARE DISPROPORTIONATELY AFFECTED BY INFLATION.

  95. @Alrenous

    “Money printing is heroin for States”. Excellent analogy!!!! I will remember that.

    • Agree: HdC
    • Thanks: Alrenous
  96. @Realist

    Ideally the Federal Reserve should be abolished and the market should determine the prevailing interest rates.

    However, if the Fed is still around and it were to act responsibly, the Fed Funds rate would be raised significantly as you correctly suggest – somewhere north of 10%.

    • Replies: @Realist
  97. Durruti says:

    Nice article by Anglin. I like the visual supports.

    Inflation at this level is very dangerous & ruinous to our citizens.

    JF Kennedy did something to reduce inflation. He was our last Constitutional President.

    You understand the rest.

  98. @Petermx

    You write:

    Peter Schiff explains in another presentation how they changed estimating rent that people paid for an apartment or home.

    That’s exactly right. The government statisticians use something called Owners Equivalent Rent (OER) to determine the rate of inflation.

    The OER seriously underestimates the actual rises in rental accommodations and that’s why they use it. Because rent payments are a huge chunk of the weekly expenses so any significant rise there will have an outsized affect on the CPI.
    Hence it’s imperative that they input a much lower figure so as to achieve the desired lower outcome.

    After all, why needlessly worry the dumbed down masses with more gloom and doom.
    Let them think all is well so that they can go on spending profligately to prevent the economy from completely imploding.

    • Agree: Petermx
  99. Alrenous says: • Website
    @profnasty

    A dozen real eggs should cost over \$10. No wonder the stuff you get in the grocery store tastes like sawdust and cardboard.

  100. Che Guava says:
    @American Citizen

     The way inflation has been calulated by OECD and OECD-friendly states has been a total lie for decades.

    Most notably, skyrocketing rents and prices for home or land purchase have been excluded from the formulae. Much other expense is also excluded, with the sole purpose of facilitating the ‘almost no inflation’ lie for a very long time.

    Andrew’s points are very valid, though. The U.S.A. seems to be on a screaming ride to hyper-inflation.

    For Japan so far, it is only decent bread and sandwiches worth eating that have been noticable, also disappearance of any kind of rye or Russian black bread, having lived overseas, I hate Japan’s 食パン、usual bread, like American from my observation, hideous. Some places make good to great French bread, but few.

    I am happy with rice, but apparently the nation is no longer self-sustaining on it.

  101. As far as the crypto situation – Bitcoin just fell off a cliff.

    Is it going back up?

    Bitcoin is going back up, and back down. Bitcoin will fluctuate. In the long run, Bitcoin is going down to zero.

    Bitcoin is going down to zero because it is a technolibertarian phantasm with less substance than a share in Lehman Bros., a bankrupt company, has. Libertarian ideologues and the monetarily naïve will tell you that the same were true of the U.S. dollar, but they miss the fundamental point: one can pay U.S. taxes with a U.S. dollar, whereas one cannot pay U.S. taxes with anything else.

    This is no minor point. It is the entire point. It is the reason federal contractors and federal vendors gladly accept payment from the federal government, and from others, in dollars the federal government has printed out of thin air; and it is the reason such contractors and vendors do not typically accept payment in Bitcoin, no matter how virtuously limited the supply of Bitcoin might be. The federal government has marshals with guns to enforce IRS collections. Bitcoin does not.

    If you would rather not lose all the hard-earned money you have plowed into Bitcoin then, for your own good, sell your Bitcoin now. You didn’t listen to me while Bitcoin was going up, and now that it is going down, the money you have lost in Bitcoin is the price you pay for technolibertarian naïveté, but it is not too late to get wise.

    You can thank me for the valuable advice later or, if you choose not to heed it (maybe because I am a psuedonymous nobody, which is a pretty good reason not to heed it), then you can learn the lesson the hard way. If it were me, I’d sell.

  102. Realist says:
    @RoatanBill

    You have to get rid of the excess dollars in circulation to have any effect on its purchasing power. Interest rate slows the rate of inflation but does nothing to it long term to stop or reverse inflation.

    Raising interest rates is not a panacea, but it does help. When rates are high people tend to save money…taking it out of circulation. It’s not permanent but it helps.

    The Fed can do absolutely nothing to prevent the crack up boom that’s coming.

    I agree the crack-up can not be prevented, but it can be ameliorated to some degree. It does stop adding more damage.

  103. Realist says:
    @Truth Vigilante

    Ideally the Federal Reserve should be abolished and the market should determine the prevailing interest rates.

    Correct…its creation was one of the biggest mistakes this country has made.

    • Agree: Rurik, Alrenous
    • Replies: @mulga mumblebrain
  104. anonymous[786] • Disclaimer says:

    ….It’s idiotic to blame the screwed up mess we’re in on the Boomers or on any broad and unmeasurable group. ….

    liar. it isnt broad and it is measurable. Boomers are going to the front of the line. Boomers jews get a disneylike fast pass with an escort. your language reminds of a“dont collectivise me” libertarian gamma faggot that has a government job.

    • LOL: Emslander
  105. Ronnie says:

    Bread, eggs and milk are up much more than 8% – the bread I buy at Costco is up 20% – the 8% is a scam.

  106. @Durruti

    The Democratic Party Voting Bloc is explicitly about race and this will never -especially if the demographic shift accelerates…change….enough of this stupid jibber-jabber about Muh Constitution…..

    The Kennedy Family cheated to get JFK elected…

    The sicko JFK brought the US and the Soviet Union to within 60 seconds of Nuclear War..

    JFK is responsible for Miami being transformed into a Spanish Speaking Cuban Miami….

    JFK was War Hawk..

    JFK would have…if he had not been assasinated …..JFK responsible for the passage of the 1965 Nonwhite Legal Immigration Increase Act..

    JFK as US Senator is directly responsible for the program that brought Barack Obama sr. into the US….The rest is history…

    • Disagree: Emslander
  107. @Realist

    By lengthening the time frame, the controllers have more opportunity to enrich themselves at the ultimate expense of the average person.

    The best possible outcome would be to have the economy crater this afternoon. Those that have not prepared by now aren’t going to prepare or haven’t the resources to prepare; they are already casualties but don’t know it. The longer this drags out the more people will have been reduced to poverty.

    It’s the trend for the average person that’s down. Sooner or later that down trend goes below zero and that’s when the system has notched another victim. If the collapse were to occur today, those that still have some resources will immediately ration them as opposed to spending to pretend things are normal.

    As for the fiat currency that is the source of all the mayhem, its quantity needs to be reduced drastically to avoid a hyperinflation and that simply won’t happen when Biden and Congress want to give Ukraine another 40 billion plus other billions of newly printed currency for more junk projects. The trend is toward hyperinflation, not the reverse. Interest rates are a bandage put on a chest wound and just prolong the agony.

    • Replies: @Emslander
    , @Realist
  108. @Rooster14

    The unintended costs of stealing an election. Hype covid and shutdown businesses to justify mail in ballots. Pacify the masses during lockdown by paying them more to sit home on their butts then working. Pay small businesses more for shutting down than operating thru the paycheck protection loans. Write off all of the loans. Everything is good, the masses have more money in their pocket, the stock market is booming. Trump is out of office. A little demand pull inflation is nothing to worry about.

    But shutting down all of those businesses, even temporarily, had some long term consequences. At first, no problem, the masses just bought up all of the inventory, jet skis, rvs, autos, etc. sales are up, stock prices up. But since our economy has been running on a just in time inventory strategy for years, we started to see some bottlenecks in production. Still somewhat manageable by the Fed. The Ukraine war was the final straw.

    Higher energy and fertilizer, along with the simmering supply line issues left over from covid shutdowns, has overnight changed inflation from demand pull to cost push.

    We have officially entered stagflation territory. Recession plus high inflation, the toughest for the Fed to handle. Raise interest rates to combat inflation, crush economic activity and the stock market even further.

    Here is a good primer on inflation.

    https://www.investopedia.com/articles/personal-finance/073015/understand-different-types-inflation.asp

    • Agree: JM
    • Replies: @Rooster14
  109. Even film history is woke. Birth of a Nation is excluded – the biggest box office ever.

  110. @The_Masterwang

    I wish I could say that it may be a good time for White Nationalists to make a move. That Jews aren’t the only ones rubbing their hands together with a shit-eating grin. But, alas, after white American stood down after Ashli Babbit’s killer was exposed, I now know that, sadly, they have no fighting spirit left in them.

    • Replies: @V. K. Ovelund
  111. @Old and Grumpy

    This so called inflation, which is actually hyperinflation, is simply price gouging across the board to generate more profits for the capitalist and more taxes for the government and has nothing to do with the pandemic or the war or fuel prices – those are just excuses for them to raise prices which are already abnormally high. Look, a few years ago the fuel price went very very low, surely everyone remembers that. Did the prices go down correspondingly? Did they? There you have it. If it’s the fuel price that dominates why didn’t they drop the prices. But no they just keep raising them any and every opportunity and then give BS excuses. I know fuel price is a determinant but not the way they apply it. Just thieves and ripoffs.

    • Disagree: Emslander
    • Replies: @Sparkon
  112. Emslander says:
    @Justvisiting

    In fact it cannot be a science since it is impossible to fully reproduce initial conditions.

    Very true. University of Chicago economics professors won the Nobel Prize for Economics several years ago for revealing that the people in an economy are always way ahead of any decision anyone makes on the basis of economic theory.

    I say that the people will always work out their financial destiny in a satisfactory manner if they’re only left alone to do what is necessary for them, so long as it follows the standard requirements of ethics or natural law. Government ought only to make it as easy as possible for people to do that, primarily by restricting the activities of the usual vultures. The usual vultures in addition to politicians are banks and universities.

    • Replies: @Justvisiting
  113. Emslander says:
    @RoatanBill

    Interest rates are a bandage put on a chest wound and just prolong the agony.

    Excuse me for replying, Bill, but I fundamentally agree with your economics. I’d only posit that, if interest rates were allowed to go to where they reflect actual risk, two things would happen:

    1. People who have behaved prudently and have not incurred frivolous and unsecured debt would be fine in the collapsed system.

    2. Government would no longer be able to live on its treasury rollovers.

    A lot more would have to happen in order for the nation to return to a healthy situation, but a proper treatment of interest rates could go very far to sending things in the right direction.

    • Agree: Truth Vigilante
    • Replies: @RoatanBill
  114. The Masters of the Universe have found a great solution to control the price of all things going up in price: start a futures market, then oversell contracts by a factor of 500 – 1000 (times the available quantity of goods), and then offer to settle it in fiat dollars. Well, that worked for gold and bitcoins, why not try it for foodstuff? Buy a futures contract for breakfast on 1.1.2024 for \$10, then when on that morning you find your breakfast would cost \$15, the Masters of the Universe will pay you \$5 in crisp fed notes, which you may consume directly…

  115. Think Weimar.

    Think wheelbarrows full of cash to buy a carrot.

    • Replies: @nokangaroos
  116. In 1981, you could get a 6 month CD at a savings and loan for 12 percent. Now 2 percent.

  117. I forgot that it’s all simply gas prices.

    When gas prices go up, prices goes up.

    I knew this in the 70s. But they haven’t been doing oil shocks for a while. So one forgets.

    Lower the gas prices: lower the prices.

    Problem solved.

    • Replies: @Alrenous
    , @Truth Vigilante
  118. @Sir Launcelot Canning

    To avoid landing myself in trouble, I begin by explicitly declining to promote vigilantism in such a circumstance. Nevertheless, your broader point is taken. I second your emotion.

    But, alas, after white Americans stood down after Ashli Babbit’s killer was exposed, I now know that, sadly, they have no fighting spirit left in them.

    We white Americans are confused and divided, though. Our only broadly accepted leader is Donald Trump, who is not calling for the kind of action of which you speak. Since such action has no hope of success unless taken collectively, and even then would have little hope when opposed by state power, I’d cut white Americans some slack. Far too many white Americans are still struggling with the decaying vestiges of foolish, yet nevertheless sincere, race-blind ideology.

    It’s going to take perhaps 50 years to bring white Americans around, for that is just the time scale on which such social changes occur. The changes began in earnest about 1992 when riots in southern California shattered many American whites’ theretofore suburban illusions of safety and of secure, implicitly white nationhood, so what’s 1992 + 50?

    Sorry to tell you to be patient. Keep building toward the day, but it’ll be a while yet, unfortunately. The honor of the struggle is to your generation. May your children reap the reward.

  119. @Emslander

    If you have not seen it yet check out this interview about whites in South Africa:

    https://www.unz.com/jtaylor/how-whites-get-ahead-in-south-africa/

    The “experts” could never have predicted this.

    Their models assume that government policy is both rational (i.e. internally consistent) and important. South African government policy is insane and ignored by every rational person.

    In the real world real people create stunning “workarounds”.

    Some of the best ones are kept totally secret.

  120. Miro23 says:
    @WingsofADove

    Note: of course inflation only helps the debtor IF his wages/revenues increase at or above the rate of inflation.

    There’s a point when comparing with Weimar Germany (early 1920’s). Germany got into bad inflation but it remained a major industrial economy. A declining D Mark made German exports super competitive with factories operating a maximum output (and paying wages that matched the rate of inflation). IOW the German working class was OK. It was the middle class that got destroyed. Pensioners, savers, government workers and generally people whos incomes couldn’t keep up with prices.

    It was the German middle class who were made destitute having to sell their homes and furniture to buy food.

    If the US is on the same track, then the US working class looks more exposed. The US is not a great industrial exporter and China will stop supplying Walmart since they want to be paid in real money. The “Cosmopolitans” are cosmopolitan and will have cleared out long before, having converted their wealth out of dollars and into hard currencies and assets in safe places.

  121. @Emslander

    As long as interest rates are controlled by a central “authority”, they are not sending the proper signal to the market. The only solution is to get gov’t out of the currency business, shut down central banking and currency from nothing creation and go back to commodity money, not currency. But then there’s the problem of what is “commodity money”, and that term is in the process of being bastardized right now.

    Every scheme I’ve heard of lately involves talk of commodity backing for national currencies but they are all dishonest. Every one of them wants to use things that degrade or get used up over time as though that represents money. Only things that last essentially forever, can properly be money. Adding in a country’s oil deposits, next year’s grain harvest, the nominal GDP, etc are all attempts to create just another fiat system where countries can lie about what makes up the value placed on their currencies.

    Gold and silver are money. They have been used as money for thousands of years. Tomorrow’s gain harvest isn’t money because it disappears into the bellies of some population. Oil isn’t money because it gets burned up one way or another. Almost all the gold that has ever been mined is still available today. Huge amounts of silver are also still available although industrial uses remove some from supply and are likely to remove more as time goes on.

    The people need a stable money. Countries can resolve balance of payments issues using age old barter where country A is willing to accept country B’s wheat in exchange for the oil that country A supplied, etc, using each commodities value expressed in grams of gold at the time to value each item. Balance of payments can come up with all sorts of money substitutes to balance debts between nations, but people can’t bring a load of cabbage to the dealership for a new car – they need stable money.

    The attempts to come up with backing for bullshit currencies are all absolutely dishonest, designed to keep gov’t fingers in the money business. No gov’t should have anything to do with what represents “money”. The entire world should use the weight of metal as the universal money unit. Instead of artificial “Dollars”, “Yen”, etc, everyone uses grams, a universal standard.

    Getting gov’t out of the money business means they no longer can deficit spend on wars, “free stuff” for low life trash, purchase votes, etc because with specie money, they can’t invent it from nothing.

  122. @Charles Pewitt

    There you go again with Boomer hatred for no good reason. Most Boomers I know are already retired. It’s the Gen Z folks who are doing the crazy financialization and would be wiped out by the bubbles bursting. I got out of the Stock Market in 2008 and have nothing in the Market now, I am retired. The real problem is not generational. Charles Pewitt, you need to learn how to recognize the real thieves and not put ridiculous labels on people. Or, perhaps you are just paid to write inflammatory and useless comments.

  123. Realist says:
    @RoatanBill

    The best possible outcome would be to have the economy crater this afternoon.

    I agree, but higher interest rates could help that to happen…especially if the rates are very high. Debt could not be covered and that would cause the economy to crater.

    • Agree: RoatanBill
  124. This is no longer the country our framers envisioned, we have become a divided nation with divided states, dividing race against race and gender pronouns (GlobalHomo) against man and woman.
    We have lost the sanctity of life by allowing life in the womb to be treated as a mistake rather than a sacred act of creation.
    Today in America (and in most of the west) we have become a mirror image of our crumbling cities overrun by illegals, refugees, drugs, violence, lockdowns, mandates, censorship and a rapidly spreading virus of hate, fear and pure evil brought on by incompetent local, state and federal government and greed that permeates from corporate monopolies whores uniting together their vision of universal enslavement for humanity.

    If there were one last call out for divine intervention for our creator/overlords, this would be my calling.

    Dear God/overlord, bla bla bla whatever!!! you really screwed up again. It’s no wonder we haven’t found life outside our solar system, you screw up every place in the universe by allowing ZioMorphs to breed with us. You’re not fit to be God the Creator, you are an embarrassment to all life past, present and future in the universe.
    Please find enclosed your termination papers, you are fired.
    Signed,
    CQ
    God of my own destiny

    • Replies: @Justvisiting
  125. “American mother’s can’t buy baby formula.”
    Some 20 years ago, any Republican’s answer to this would have been stereotypically: “Then they should work harder and getter better jobs.” Or more rudely: “Well, they must learn they don’t get paid for f*king.”
    Now the I’m-alright-Jack types pose as champions of the small fry. Disgusting phonies.
    It may be worth remembering that BEFORE the artificially induced Ukraine crisis there was the artificially induced corona crisis, BEFORE that the artificially induced race and migration crisis, BEFORE that the artificially induced Leman crisis, BEFORE that the artificially induced S&L crisis (already forgotten by most), BEFORE that … … … Bretton Woods.
    Any reasonably sane person should be able to grasp the concept of money – its worth is precisely that of the things you can buy for it. Uncoupling tangible value from book value cannot but end in disaster. Some people estimate that globally the currently circulating volume of money is about 1000× the total of all tangible values. I am inclined to believe this, as back in the 1990s a small company named Qiagen (molecular biology supplier) had a stock exchange value amounting to about 4000× its annual turnover.
    One should not wonder why the fiat money system is coming tumbling down, but rather why it has held out for so long.

  126. @obwandiyag

    The endless comparisons to Weimar are tiresome (it would be better if they were apt).
    No one forces the US at gunpoint to pay their debts, in gold or negotiable tender
    (it is well to remember Bretton Woods was already a racket, until de Gaulle
    called their bluff), and they can print against the World as collateral.
    This means the inevitable crash will bring down everything.

  127. @Trevor

    ‘…How much is coming off the top and going to who?

    ‘Will Joe and Hunter and Barrack get a kickback from Ukraine either now or after he gets out of office? (of course they will -rhetorical question). How much again?’

    I think questions like this — while certainly valid — mask the more fundamental problem.

    However honestly the money is spent, if we start giving the Ukraine billions so long but only so long as she stays at war, she has an incentive to stay at war.

  128. @CelestiaQuesta

    Dear God/overlord, bla bla bla whatever!!! you really screwed up again.

    Time to stop the praying and demand reparations!

    😉

    • Replies: @CelestiaQuesta
  129. barr says:

    Trying to understand and justify the wall street,Fed,inflation,and congressioanl enquiries through the lenses of the standard grdaute or high school level economic textbooks is akin to quoting the materials from the physioloy and patholpgy books of the medical education that try to expalin and try to justify botched neuro suregry of the quacks and cardaic interevntions by the faith healers .

    Graet depression and recovery have been expalined by each and every possible way excet by the fact that the wars- WW1 and WW2 turned US economy from debtor to creditor and from from least coompetitive to the only game in town .

    • Replies: @Rurik
  130. Anonymous[124] • Disclaimer says:
    @Charles Pewitt

    Jesus H. Christ! Can anyone on the planet explain economics in simple words to us simpletons?

    It’s always argle-bargle about debentures, tranches, instruments, derivatives, liquidity, pressure, quantitative easing, arbitrage, put-call ratios, externality, capital goods, Pareto optimality, allocative efficiency, theoretical aggregates, commodity money, autarky, short squeeze, margin call, elasticity, order flow, options trading, marginal utility, negative equity, demand curves, futures, comparative advantage, hedging, put-on-a-calls, shorting, leveraging, indifference curves, currency, price floor, fiat currency, unpriced goods, and so on.

    One’s head spins.

    I mean, WTF: if the Fed can “just print money,” why can’t I?

    Hell, even this short 380-word essay buzzed out…

    2 “beer”

    4 “immigration”

    4 “white core”

    9 “bubble”

    10 “inflation”

    • LOL: Charles Pewitt
  131. @Justvisiting

    “Reparations”, I’m not asking for EBT card or section eight housing or even fifty acres and uh mule, imma get real and go gangsta with the Big Guy(s).

    I want my own galaxy, with millions of Star systems and planets with multiple black holes in case I need an escape route when SHTF.

    Any GlobalHomoZioBIGsRxMIC3BLM PIGs entering my galaxy without permission will receive a big comet traveling faster than a speeding poleez car in the hood on a donut run.

    Signed,
    CQ
    God of my own destiny

    10010 West Easy Road
    Sacred Planet, Unknown Galaxy, Big Universe and the Unknown

  132. Rurik says:
    @barr

    Trying to understand and justify the wall street,Fed,inflation,and congressioanl enquiries through the lenses of the standard grdaute or high school level economic textbooks … … that try to expalin …

    the way I’ve tried is by saying that our economic system is like playing Monopoly, only the banker in the game can help himself to the till whenever he wants. And as such, he wins every game.

    Just as it’s Jewish supremacists who own and control our (privately owned and deliberately misnamed) Federal Reserve Bank. When ever they want a few trillion to loan out to nations or central banks, they just ‘print’ it out of thin air, (hit a few keys on their computer key board) and voila! A trill or two or five, whatever they need.

    Now when it becomes useful for them to print many, many more trillions than usual, the rest of us experience ‘inflation’, which is the dollar losing buying power, as the world’s economies become flush with massive amounts Federal Reserve Notes (dollars), all spent first by the owners of the counterfeiting machine (Fed), and then it trickles down to the rest of us, being far less valuable with every transaction.

    If it was Arabs that owned the Fed, instead of Jews, then America would be slaughtering Jews in the Middle East, instead of Arabs. Because the way our political systems work is you get what you pay for from corrupt politicians.

    https://www.nytimes.com/2022/05/10/us/politics/congress-ukraine-aid-questions.html

    And as long as the Jews own the counterfeiting machine that can print unlimited trillions of dollars, they call the shots. And what they want is their collective Zio-boot on everybody else’s neck, and the genocide of all the people they consider rivals, (anti-Semites) and so that’s what they get. As in war in Ukraine or wherever else they demand.

    It’s really not too complicated once you understand what’s going on, and the greatest betrayal in the history of humanity was when Woodrow Wilson agreed to hand over the U.S Treasury to the world’s most greedy, unscrupulous and race-hate-obsessed people.

    Since then there’s been nothing but wars and strife and now the looming death of Western Civilization, all courtesy Woodrow Wilson and the throngs of whores and treasonous scum like the current U.S. congress.

    Oy vey, such a deal!

  133. anonymous[217] • Disclaimer says:
    @American Citizen

    \$40BILLIONS for Zelensky and Ukranian Olygarchy..deposited into am Israeli PRIVATE account..wtf??

  134. anonymous[479] • Disclaimer says:
    @War for Blair Mountain

    add in importing the nonwhite world into a America

    You evil mofers wish to remain world hegemons, but how do you sustain that when you are running short of STEM people?

  135. Crooked crook Joe Biden, filthy greedy plutocrats and the globalized central banker shysters are violently and viciously attacking the proud and brave regular people in every nation by means of this foul inflation currently eviscerating and obliterating the purchasing power of good everyday hardscrabble people.

    Joe Biden and the globalizer bankers are using monetary policy to reward the plutocrats and the top ten percent loot holders with monetary policy-created asset bubbles while using the resultant consumer inflation as a crude club to bludgeon regular decent brave people who have to pay so much more for housing, food, fuel, health care, and a lot of other things.

    Joe Biden is a disgusting politician whore scumbag of the worst sort. Biden was born in November of 1942 and Biden was the generational vanguard of treasonous Baby Boomer villainy. Biden should be considered a Baby Boomer because Biden set the stage for Baby Boomer scumbag rats such as Bill Clinton and George W Bush and Barack Obama.

    Biden, the proto-Baby Boomer politician rat, is now stealing baby food and baby formula from American families and giving that baby food and baby formula to ILLEGAL ALIEN INVADERS. Biden has violently grabbed all the nutrition from American moms and babies and he is giving it away to foreigners and illegal alien invaders.

    I’ll go and say that Biden is the kind of scumbag rodent politician puppet that has been used by the globalized plutocrats to attack and destroy the safety, security and sovereignty of the United States of America.

    [MORE]

  136. Alrenous says: • Website
    @obwandiyag

    The gas price peak in 1970 was also an inflation issue. They went off the gold standard, because deadbeats can’t pay their bills. Same reason the Bank of England was founded in the 1600s.

  137. Good article, brings attention to the fraud of government stats and accounting. There is a big reason the state/Fed understate the CPI, it is because there are billions at stake – namely COLA (cost of living allowance) for active duty military, retired military, Social Security recipients, Federal workers, etc. So to save money they lie about the real inflation rate.

    https://www.ssa.gov/cola/

    ——————-

    Just call me the chart man, inflation is best viewed in chart form. This is what the Federal Reserve says (this is the latest data taken from their websites today, it is commonly called a FRED chart, federal reserve economic data):

    Less food and energy? Those are the two things you MUST buy.

    ———————

    Inflation is commonly viewed as “rate of change” over the previous 12 months. To calculated this they take prices from the latest measure and compare that to 12 months prior. They do this each month, so in a year they get 12 data points.

    Shadown Stat charts:

    [MORE]


    http://www.shadowstats.com/alternate_data/inflation-charts

    As you can see the old way of calculating the CPI is much higher (just as the article states).

    ———————-

    The actual level of consumer prices is a line graph also plotted 12 times a year (note the steepening curve in the last year):

    https://www.ssa.gov/cola/

    You can sign up on numerous websites to get this data the moment it comes out. That is what they do at Fox News, then they report it with some broad with big hooters to keep your attention, lol. The COLA is calculated from that data, once a year the BLS calculates how much prices went up for that year and that becomes the official COLA.

    ———————-

    What is going on with interest rates? The Fed has two charters, price stability and full employment. (The Fed does NOT prop up the stock market as commonly believed) Currently the Fed focus is to raise interest rates to stop raging inflation. The pundits say the Fed is way behind the power curve, meaning the Fed was to slow in stopping QE and raising the Fed Funds rate. The Fed can also do QT – meaning then can reduced their balance sheet and sell bonds. The Fed clearly states its intentions on their website, here is it:

    Interest rates are going up. I’ve been saying that for years – before it was obvious. I told my banker that interest rates were going to the moon two years ago and he looked at me very puzzled. My bank pays me 0.05% interest currently. That is almost zero – yet inflation is 15%! So because of this “negative rate of return” everyone dumped their money into stocks, cryptos, real estate, art, farmland. But now all of those are crashing. LUNA just lost 98% in 48 hours. Top rated ETFs like ARKK are getting smashed. Many people have their 401K’s in speculative assets – they are getting wiped out.

    Mortgage rates have spiked off the bottom – just a year ago the cost of borrowing to buy a house was the lowest in human history. IMO the field has reversed – they will now go to the highest level – over the 1980 highs, see chart:

    Why will mortgage rates GO BACK to 1980 highs? Because in technical trading, it is well known when the market goes up and down, it always tests the previous extreme. IMO it will first test the 18% level, then it will go through that level and go to a new all time high. The Fed has destabilized interest rates, they did not accomplish their goal of price stability at all, inflation is raging, so the Fed must stop inflation to protect the USD – the global hegemon currency. The robin hood traders are in for a big surprise – markets can go down.

    ——————–

    Wojak Vs Bogdanoff

    • Replies: @Yukon Jack
  138. Notsofast says:
    @Here Be Dragon

    just remember that your hero pcr is a founding father of the fake money economy and is still trying to defend supply side economics. he appears to be clueless as to putins actions in ukraine and the economic war being waged that are demolishing western ponzi “supply side” economic systems. the ruble has reached a two year high against the dollar and the euro and is currently the top preforming currency in the world.

    if the zioneocons decide to burn the world down there not a whole lot anyone can do about it but you certainly can’t blame putin for their crimes.

    • Replies: @Here Be Dragon
  139. @Robert Dolan

    You miss the point entirely. We boomers as a generation made the bargain with the enemy thinking we would enrich ourselves by it. Never even considering that the enemy would eventually strike against us in spite of the evidence that they always do. The enemy was never numerous to implement its plans without our willing cooperation. So shifting the blame to them is disingenuous. They were always going to act like an enemy, we were not obligated to help them. We did so for filthy lucre.
    Not caring about the consequences to the civilization we inherited or to our future generations. Adding to this, we produced a paltry future generation to begin with since boomers found children an impediment to their material acquisition and women’s empowerment. We set ourselves, our children and our civilization up to fail for a slight increase in our own wealth and comfort.
    That is the damning indictment of ,y generation and it is correct.
    If we had any shred of integrity or conscience left in us, we would fully support the current generation in its battle to restore the republic. Even if that means we are materially harmed by it.

  140. peterAUS says:

    …I believe the Fed will continue to talk a tough game, and follow through on a few more rate hikes along with some quantitative tightening, but the carnage in the market will force them to reverse course sooner than later. By the Fall I expect them to reverse course and start lowering rates and quantitative easing. If the Fed must choose between Wall St and Main St, the Fed will choose Wall St every time….

    vs

    …the Fed must stop inflation to protect the USD – the global hegemon currency. The robin hood traders are in for a big surprise – markets can go down….

    Rock and hard place.
    Which one?

    Maybe neither.

    Maybe something new?
    The Going Reset, for example (or whatever buzzword TPTBs prefer) ?

  141. @Emslander

    I’m a Boomer and have nothing to be ashamed of.

    In the opinion of this pre-Boomer, you’re absolutely right.

    The generational blame game hasn’t simply been a clever stunt; it’s been a brilliantly successful red herring. For sixty years and more, it has distracted people from seeing that the sources of American society’s problems aren’t generational changes and stresses but are instead the things that haven’t changed for about 130 years: Jewish power and money and the diabolic wickedness with which the Jews have employed those assets.

    • Replies: @Robert Dolan
  142. Bo Bo says:
    @Bo Bo

    Another point. The so-called federal debt. Lie, lie, lie. Nothing more than an accumulation of money that has been counterfeited over the years. When the media says “our grandchildren will have to pay it back” no one will EVER pay it back. Pay back to who? Federal reserve? Why and how would any future generation pay back trillions of counterfeit dollars spent 30-40 years before they were even born? It won’t happen. Just another lie.

    • Replies: @Bardon Kaldlan
  143. @Petermx

    \$40bn sucked out of America and sent to a foreign country!
    Where have I heard that before?
    https://ifamericansknew.org/stat/38billion.html

  144. @eyesfrontmen

    The cringe-Z, millenials were birthed by boomers, who were birthed by the greatest goyim, who were birthed by illiterate peasants who got the Fed built under their nose, whose parents were liberal niggerkike lovers, etc.

    It is almost as if muttmerica is truly the toilet of Europe, and your meddling in our affairs sealed ours and yours fate!

    1919 and 1945 payback for the subhuman allies scum. Sow the wind reap the hurricane, lol!

    • Replies: @GKWillie
  145. All that I know is that hanging is too good for most of our politicians and business leaders for what they’ve put us through in the past two and one half years. A slow boiling in used motor oil is what they deserve.

  146. Western values

  147. @Notsofast

    Agree with you absolutely.

    He doesn’t understand what the Russians are doing, says they should have stopped selling oil and gas, should have devastated Ukraine and all that.

    But he seems to be sincere, and there are other things that he says, about the West about the world, that I often like and agree with.

    And I like his writing style.

  148. @Charles Pewitt

    Laying blame on a group of people born between 1945 and 1964 is silly. Like now, most people have no control and just go along with the flow. Put the blame where it belongs, on the academics, politicians and corporate leaders.

  149. Joe862 says:
    @Robert Dolan

    I did ancestry.com a few years ago, as far as I can tell I have no jewish ancestors. The boomers are the ones who let the small hats get away with it. They aren’t the small hats, but they’re hoping to get a taste of the money the small hats swindle. I’m late gen x and I’ve been critical of the boomers for decades. Not all obviously, but a huge percentage of them are greedy, selfish pieces of shit. Given, this is because the greatest generation cared way too much about stuff and didn’t raise their kids right.

    Why do you think your group shouldn’t be criticized? That’s very small hattish. Just scream anti-boomite. Any criticism or critique is anti-boomitism and nothing more. It could never be legitimate.

    • Disagree: Robert Dolan, Trevor
    • Replies: @Notsofast
    , @Trevor
  150. Cookie says:

    Markets are holding up…just?

    Those big players who are highly exposed in the markets have to keep pumping money in to keep their position.

    Thats you people…your pension funds.

    When the panic starts those that survive are those that panic first.

    Goodluck in sitting still and trusting the markets?

  151. @Bo Bo

    But isn’t the money owed to the people who bought T bills? I know the Chineeze hold a lot of ’em!

    😮

    • Replies: @Bo Bo
  152. @eyesfrontmen

    Totally disagree.

    The boomer blame is dishonest and absurd.

    As Ann Coulter correctly stated, “We never voted to become mexico.” (That was Celler and Javitz)

    The jews engineered open borders, outsourcing, abortion, feminism, porn, gay rights, civil rights, etc.

    I can name the names.

    You’re pretending that our people knew what was happening……they did not.

    In fact, most of our people do not understand the scope of jewish influence even at this late hour.

    It’s not the boomers.
    It’s not our women.
    It’s not the Chicoms.
    It’s not the blacks.

    It’s the jews.

    For sure.

    https://tv.gab.com/channel/angelojohngage/view/dissecting-anti-semitism-6182adc105dc60172a3463de

    • Agree: inspector general
  153. GKWillie says:
    @HeebHunter

    It is almost as if muttmerica is truly the toilet of Europe, and your meddling in our affairs sealed ours and yours fate!

    Except that Europeans petitioned America to join both WW1 and WW2.

    Too bad we didn’t tell you to fuck off both times.

    Typical ignorant angry Eurotrash…lol

    • Replies: @monika92gti
  154. @Yukon Jack

    cORRECTION:

    The actual level of consumer prices is a line graph also plotted 12 times a year (note the steepening curve in the last year):

    Consumer Price Index: All Items for the United States (USACPIALLMINMEI)

    The Fed clearly states its intentions on their website, here is it:

    https://www.federalreserve.gov/newsevents/pressreleases/monetary20220504b.htm

    Committee participants agreed to the following plans for significantly reducing the Federal Reserve’s securities holdings.

    The Committee intends to reduce the Federal Reserve’s securities holdings over time in a predictable manner primarily by adjusting the amounts reinvested of principal payments received from securities held in the System Open Market Account (SOMA). Beginning on June 1, principal payments from securities held in the SOMA will be reinvested to the extent that they exceed monthly caps.
    For Treasury securities, the cap will initially be set at \$30 billion per month and after three months will increase to \$60 billion per month. The decline in holdings of Treasury securities under this monthly cap will include Treasury coupon securities and, to the extent that coupon maturities are less than the monthly cap, Treasury bills.
    For agency debt and agency mortgage-backed securities, the cap will initially be set at \$17.5 billion per month and after three months will increase to \$35 billion per month.
    Over time, the Committee intends to maintain securities holdings in amounts needed to implement monetary policy efficiently and effectively in its ample reserves regime.
    To ensure a smooth transition, the Committee intends to slow and then stop the decline in the size of the balance sheet when reserve balances are somewhat above the level it judges to be consistent with ample reserves.
    Once balance sheet runoff has ceased, reserve balances will likely continue to decline for a time, reflecting growth in other Federal Reserve liabilities, until the Committee judges that reserve balances are at an ample level.
    Thereafter, the Committee will manage securities holdings as needed to maintain ample reserves over time.
    The Committee is prepared to adjust any of the details of its approach to reducing the size of the balance sheet in light of economic and financial developments.

  155. @Pierre de Craon

    “The generational blame game hasn’t simply been a clever stunt; it’s been a brilliantly successful red herring. For sixty years and more, it has distracted people from seeing that the sources of American society’s problems aren’t generational changes and stresses but are instead the things that haven’t changed for about 130 years: Jewish power and money and the diabolic wickedness with which the Jews have employed those assets.”

    You nailed it. Boomer bashing is a method to divert blame away from the small hat criminals who actually did all of the damage.

    And generally speaking nothing of any consequence is ever voted on, which enables the jews to use corrupt activist judges to push through their nation wrecking anti-white agenda.

  156. niceland says:

    What’s wrong with little inflation?
    Finally something working the way it should according to economic text books!? Correction of excess pile of debt and monetary assets in real terms. “Wealth” that never existed is evaporating, because the real economy isn’t keeping up with debt creation.

    Yes some retirement plans will suffer, but mortgages, car loans, student loans, CC debt etc will decline in real terms. In time wages will raise enough so most people will be better off.

    My own country has serious inflation history over past many decades with inflation sometimes over 50% per year and our currency constantly declining in value against a basket of major currencies — but we enjoyed enormous rise in prosperity as a nation over this period. Of course some moneybags were constantly whining about their savings burning up. For decades this saved us from having the burden of huge financial class.

    Worse thing can happen. I’d say the U.S. and Europe need a healthy doze of inflation over 2-3 years to destroy imbalances that have been piling up over many years, cluttering up the arteries of the economy.

    • Replies: @mulga mumblebrain
  157. anonymous[110] • Disclaimer says:

    Boomers. you are not getting out if it because of the jews. Sure, they offered you the ticket. You took it, and turned it up to 11. we get than none of you will ever take responsibility for inculcating, epitimizing, and enabling the degenerancy that that besets us.

    • Replies: @Anon
    , @Robert Dolan
  158. Notsofast says:
    @Joe862

    you do know the “greatest generation” are the ww2 vets that are the parents of the “boomers”, are you blaming them? sorry your parents did such a shitty job of raising you.

    • Replies: @Joe862
    , @mulga mumblebrain
  159. Joe862 says:
    @Notsofast

    You’ve got nothing. The world war 2 vets did a lousy job of raising their kids because they cared too much about stuff. They, like every other group, get criticized and critiqued. They did some things good, some things not so good. Like everybody else.

    • Agree: RadicalCenter
    • Replies: @Notsofast
  160. @Notsofast

    The ‘greatest generation’ of what? Of Yanks? No great distinction, just the usual arrogant presumption.

  161. Anon[178] • Disclaimer says:
    @anonymous

    Big agree. The Day of the Pillow and the Day of the Rope aren’t mutually exclusive. Let’s embrace the power of “and.”

  162. @niceland

    The ‘As in the past, so in the future’ delirium, so omnipresent in the West. This poor schmuck won’t know what hit him. I suppose he’ll blame Putin and demand that they drop the Big One.

  163. Rooster14 says:
    @Sam Hildebrand

    When roughly half of the of the entire USD money supply was printed in the past two years, you’re gonna have some inflation problems one way or another. It’s starting to look like Putin chose the exact right time to strike, knowing the ripple effect would cripple an already weak America. Now that Russia has been talking about backing the Ruble with gold and other assets, inflation might be the least of our worries.

    • Agree: Sam Hildebrand
  164. @eyesfrontmen

    The post-WW2 period was when human activity surpassed the planet’s ability to cope with the depredations. We’ve been burning our way through the natural capital of top-soils, fossil water, fossil fuels, bio-diversity, fisheries, stable climate etc, ever since, and the TOTAL collapse of the planet’s life-support systems is very near. It will take hundreds of millennia for life on Earth to recover, without H. destructans, of course.

  165. Some tips on How to fight against Inflation:

    1) own no debt – NONE

    2) enter into no entangling relationships – particularly with banks, brokerages, attorneys, credit cards, and stock companies

    3) convert any Fiat gained into hard money or other durable assets as soon as practicable

    4) learn what is “enough” for you; live WELL below your means; practice the Shampoo Principle

    5) invest only in what you can control – i.e. YOURSELF; your skills, your talents, your abilities, your intellect

    6) never let another (banks, CFP’s . . . and others) have any control over what is yours

    7) save at least 60% of your gross income; less is too little and will never accrue enough fast enough to make the effort worth the effort;

    8) control the existence of your savings; if you can’t touch it you don’t own it; you cannot be too rich!

    9) shut up! Live frugally; act frugally, appear frugally, play the dumb farmer role ALL the time; eat a little less, not a lot, just a little; that little will show MANY benefits in many areas as time passes

    10) disintermediate to the degree possible; you ARE smart enough to succeed and even thrive in life without the feigned beneficent “help” offered by others; watch your back: thugs and muggers are real

    Doing these things may not eliminate all the effects of inflation, but you will reduce the effects to a point where you can still survive and maybe even thrive. Being effected by inflation is really just one more admission that you are letting yourself be controlled by those whom you would NEVER let control you if you could look them in the face.

    Withdraw; back up; slowdown; create your own peaceful existence so you can let the big world pass you by.

    • Agree: peterAUS, Justvisiting
    • Thanks: RadicalCenter
    • Replies: @nsa
    , @neutral
    , @Emslander
  166. Anon[223] • Disclaimer says:
    @Charles Pewitt

    Love it. I wish but they are not trying to save the future, just kicking the can until after the boomers die out and there will be no more social security or anything left of the country for that matter.

  167. Anon[169] • Disclaimer says:

    I don’t think the Biden administration really understands the situation. Inflation is one danger, but the stock market has been going down relentlessly since January. That’s 5 months of decline. This will NOT go over well with Biden supporters. Everyone’s retirement account is dropping.

    A lot of Baby Boomers depend on the stock market to keep their retirement in good shape. If the market doesn’t reverse, the Democrats are toast in November. Millennials who are just beginning to find financial solvency after many years of struggle will also panic if the plunging market wrecks their finances.

    Pro-abortion Boomer women will freak out about their retirement account. They’re too old to get pregnant, and they know it. The danger that’s much closer to them is poverty in their old age. Remember, Boomers are the most materialistic generation ever. If Boomer women are given a choice between defending abortion, and defending their retirement, they’ll pick their retirement. This is because Boomers are selfish. They will betray their pro-abortion ideals if they think they have no choice but to save themselves by doing so. Many Millennial women will do the same.

    Biden will lose the white upper-middle class vote over the collapsing stock market, and he’ll lose the minority working class vote over inflation. He’s screwed on both ends. Many blacks on welfare live in Blue States that are in bad financial shape, and which cannot raise their welfare payments to combat inflation. They can’t even afford to keep their criminal class in jail.

    What’s more, inflation didn’t have to happen. It’s all due to Biden’s sulking sanctions against Russia disrupting the world economy, which Biden imposed because Russia interfered with the Biden family money-making scheme in Ukraine. Biden is making his personal beef with Putin everyone else’s problem to the detriment of everyone else.

    The only way to save the situation is give up, start peace talks to save what’s left of Ukraine, and recognize that Eastern Ukraine is gone. The promise of removing sanctions can be used to get Russia to agree to the division of Ukraine.

  168. Bo Bo says:
    @Bardon Kaldlan

    Any of those will be paid back with counterfeit money.

    • Replies: @Bardon Kaldlan
  169. @anonymous

    “Boomers. you are not getting out if it because of the jews.”

    FOUND THE JEW!!!!!!!!!!!!!!!!!!!!!!

  170. Rotan Bill… ok Boomer! The guy you called a troll is right, the boomers created this mess, the geriatric boomers need to have done to them what they’ve done to us… raise the rate to 20%!
    Anytime anyone calls out boomers on this sight you hammer em with the troll button. You boomers have trolled all of us for 50 plus years.

    I’m on to you RB!

    • Troll: Robert Dolan, Notsofast
    • Replies: @Robert Dolan
  171. @Vinnyvette

    You are an idiotic douche, pushing the jew narrative.

    You get the dubious honor of being the Number One Shabbos Goy Shithead Of Unz.

  172. Alrenous says: • Website
    @Emil Nikola Richard

    What style of medication am I on?

    Perhaps you should be on medication, but aren’t.

    That’s not a toaster. That’s a toaster-shaped religious icon. A cargo cult toaster. Pure appearance, no substance.

    Same way you can’t buy eggs, bacon, milk, or bread at the grocery store, you can only buy industrial waste pretending to be these things.

    Stuff is worth, at most, what you pay for it. That “”toaster”” isn’t even worth the \$1.50 of 1950s dollars you pay for it.

  173. nsa says:
    @orchardist

    Orchardist, What kind of trees are you growing? Pears, peaches, apples (with all the suckers)? What do you think of specialty crops like walnuts, hazlenuts, etc? Do you use chemicals or try to grow organic? Do you sell your output roadside or through commercial warehouses? If not too nosey, where are you located? Am very interested. Thanks. nsa

  174. @Jiminy

    Consider opening USD and foreign-currency accounts in banks abroad that pay a heck of a lot more interest. Why confine yourself to the US as it collapses?

  175. @GKWillie

    I don’t see anything wrong with HeebHunter’s comments. My Dad was in that fight, on the German side, and saw it all on a first-hand basis. He never wavered, insisting that it was at its core a battle of quality vs. quantity. Haven’t you ever noticed that the “allies” always operate as a GANG? Never one-on-one but always with whoever else they can round up or exert enough force on to enlist them. So you will end up with a pile of “mutts” as HeebHunter says, and with overwhelming numbers even the best fighters will be sat on; just as a corpulent 800 lb. yankee would “sit” on a very tough, but much smaller fighter.

  176. Oldpirate says:

    Neocons, the same people behind covid and Ukraine.

  177. Cookie says:

    So what is going on with the American dollar?

    Stronger than many other currencies at the same time as out of control inflation?

    Well the strength can be explained because moron Europeans have decided to take a bullet for the U.S over Ukraine, the U.S thanks them, \$ka-ching, \$ka-ching!

    As for inflation, well that is due to the Russian energy cut-off forcing up the international bench-mark.

    The only winners I see are the American elite one percentage point people.

    I’m glad those camping on the street are willing to make sacrifices for the war been waged on them!

  178. Trevor says:
    @Joe862

    The boomers are the ones who let the small hats get away with it.

    The real damage started in 1964 – 1965 with LBJ and his Great Society programs, 1964 Civil Rights Act, and the 1965 Immigration Act by (((Hart-Celler))) fraudulently shilled by “the cowardly lion of the Senate”

    Maybe 1963 with a plot to assasinate Kennedy so LBJ could take over.

    Joe McCarthy tried to warn America about the (((communists))).

    The boomers were about age 17 to 18 still in high school and not even able to vote for 3 or 4 more years. Exactly what did they do or not do to help the “small hats” ???

    The damage to America accelerated with the election of Obama in 2008. Who was the voting demographic that thought it would be a good idea to have a leftist Marxist queer negro with a tranny beard for POTUS??? Aside from negroes, it was mostly younger white liberals and homosexuals and 3rd world trash. Most baby boomers are disgusted by these types. Even the “hippies” of the 1960s were a non-voting minority of boomers. Sure, a few of them are still around like Obama’s buddies in Chicago like Bill Ayers that ghost write his stuff because he’s not much more literate than most negroes.

    • Agree: inspector general
  179. Trevor says:
    @Trevor

    The boomers were about age 17 to 18 still in high school and not even able to vote for 3 or 4 more years

    The OLDEST boomers were about age 17 to 18 still in high school and not even able to vote for 3 or 4 more years

    [correction]

  180. @Charles Pewitt

    I though the Christian ancestral core of the USA was WASP. How can you write that?

    • Replies: @Charles Pewitt
  181. @obwandiyag

    Obi-Wan Kenobi writes:

    When gas prices go up, prices goes up.

    Lower the gas prices: lower the prices.

    This is one of the great myths used by the Zionist Usury Banking Cartel (and propagated through the Zio affiliated MSM and Zio controlled academia through the corrupt Keynesian economists), that’s been used since the Oil Shock of the 1970’s to blame inflation on:

    1) Greedy Arab Oil Sheikhs
    2) Rapacious business owners
    3) [ …. ] insert your bogeyman of choice in line with your political axe to grind.

    Let this be clear: In an environment where the money supply is constant, there will be NO OVERALL INFLATION.
    And this is why:

    Picture a village with one hundred inhabitants and each individual has \$100 each.
    This is a closed environment and there are NO INFLOWS of money coming in and NO OUTFLOWS.

    The total Money Supply of the village is therefore \$10,000.

    Let’s assume that each of the residents is an artisan that specialises in some skill set.
    Some grow and vegetables, some are farmers that have beef cattle, sheep, dairy cattle, some are butchers, bakers and candlestick makers.
    Some of them are coal miners and coal is the primary fuel of the village used to warm your house in winter, heat water and used for cooking.

    In any given week, let’s assume that each villager spends the entirety of the \$100 that each has to buy bread, other food and products as well as some coal for heating/cooking at home.

    Of course, money spent to purchase products and services from one individual is then returned as that person in turn buys your product or utilises your services so, although at any given time some individuals may accumulate more than \$100 in net worth, while others momentarily have less, over the long run the money tends to circulate back and everyone more or less maintains their \$100 of net worth in this egalitarian society where everyone is roughly as productive as their neighbour.

    Suppose then that we have an ‘Energy Shock’ whereby the five coal miners in the village find that, to extract the same amount of coal, they have to dig deeper and deeper in their underground mines as near-to-surface coal is depleted and twice as much ore tonnage has to be dug to yield the same quantity of coal as before.

    Needless to say, other villagers that were previously farmers, fruit growers or whatever, are now hired so that the number of coal miners has DOUBLED compared to before.
    The overheads in terms of wages etc, have doubled so this cost must be passed on to the community in a DOUBLING OF THE COAL PRICE.

    Of course, the baker needs coal for his ovens and since the price of coal has gone up he has to pass on this cost to the other villagers in the form of higher prices for bread that he bakes.
    Other businesses that rely on coal also increase the prices of their goods and services that the higher coal price was responsible for.

    However, not all artisans and tradesmen need coal as an input to produce their products and services.
    The fruit pickers and animal herders don’t use it. The carpenter and the masseuse don’t use it so their input costs are unchanged.

    As mentioned before, the net worth of each individual is \$100 and in a typical week they spend all \$100 on cost of living expenses.
    Prior to the ‘Energy Shock’ of the coal price doubling, they spent \$30 on products from producers that had coal as an input.
    Now, after the Energy Shock, they’re spending \$40 on products from these producers*. (A doubling of the price of coal does not imply a doubling in the price of goods and services from coal dependent producers. Less energy intensive businesses may only find that their input overheads are up marginally while others, like the blacksmith, may find that his overheads have gone up 50% for example).

    SUMMARY: Villagers who, prior to the Energy Shock were spending \$30 on items/services sourced from producers that were coal dependent were ipso facto, spending the remainder (\$70) on items and services sourced from non-coal dependent producers.

    AFTER the Energy Shock, they’re spending \$40 on the former and \$60 on the latter.

    In other words, because their TOTAL SPEND per week is limited to \$100, by spending more on the former, BY DEFINITION they spent less utilising the services of the latter. ie: the masseuse, the fruit growers and the dairy farmers.

    Because the fruit growers and the masseuse still needed income to survive, to ENTICE other villagers to utilise there service or buy their product, they NECESSARILY had to REDUCE the price of their wares so that other villagers used coal sparingly or purchased less of those products that were energy intensive so that money was freed up to spend with them.
    (After all, the fruit still ripened on the vine and if nobody bought it, it would rot. So, when LESS money is chasing MORE supply, the item offered must FALL IN PRICE to clear the market).

    Bottom Line: Before the Energy Shock in this little village, individuals spent \$100 per week.
    After the Energy Shock, they STILL spent only \$100.
    ie: NO OVERALL inflation. Some things went up in price but this led to other things FALLING IN PRICE because the overall money supply was fixed.

    In the 1970’s when OPEC producers tripled (or quadrupled ?) the price of oil, some things that relied on oil as an input went up.
    BUT, had the money supply been fixed, the prices of others items and services WOULD HAVE FALLEN.

    The reason they did not fall and why there was inflation across the board was because, after the decoupling of the USD from gold in 1971, the U.S was free to increase the money supply at its leisure – WHICH IT SURELY DID IN COPIOUS AMOUNTS (as did other countries around the world).

    Rather than burden the electorate with increased taxes and risk losing the next election, politicians financed chronic budget deficits with money printing.

    The price of gold was officially USD \$35/oz in August 1971 when Nixon took the U.S off the gold standard.
    By Jan. 1980, just over 8 years later, the price of gold was USD \$850.

    This did not happen in a vacuum.

  182. neutral says:
    @orchardist

    create your own peaceful existence

    I don’t disagree that one should be responsible with ones finances, but the problem is that amount of people that are reckless and the politicians that they end up electing make any peaceful existence impossible. If the world economy crumbles those people will loot and murder everything, peace will not happen until every single one of those cockroaches are dead.

  183. JM says:
    @republic

    In Argentina during periods of high inflation they use to change prices in grocery stores 3 times a day due to rapidly increasing inflation

    They’ve got very high inflation in Argentina today. though – as yet – nothing like in the late 90’s. I’ve seen the (I think) Peso250.000 notes. Don’t agree with it, but at least pegging the Peso to the \$US caused some form of economic discipline and gave some people in the lower middle class the chance (and reason) to save. No good sending money there today as it has to be converted into the unstable, shit, Peso.

  184. @Robert Dolan

    You’re saying boomers went along with all that because they were ignorant, so their greed is irrelevant since there was no malice unlike among the jews.
    Well, I guess ignorance should not be blamed then, but glorified.

    The worst thing about boomers is they spread their vile materialism to other parts of the world (or at least their elected representatives did), spread alcohol use and casual sex as perfectly normal.

    Have not yet met a boomer who was not either a moron or at least utterly ignorant. The most despicable generation ever until these generations of the last 20- 30 years came along.

  185. Emslander says:
    @orchardist

    I would just add two things to your list of disciplines:

    1. Learn to make sourdough artisan bread and make at least one loaf every week,

    2. Drink your own home-made kefir.

  186. @Anon

    You wrote:

    What’s more, inflation didn’t have to happen. It’s all due to Biden’s sulking sanctions against Russia disrupting the world economy

    Well, actually not.

    Inflation DID have to happen and it WAS happening, even before Trump’s Covid response and cash splash in early 2020 when the M1/M2 money supply was increased by the greatest ever amount in a single year in the history of the republic.

    You see, the inflation statistics from the U.S government have always been bogus. They are invariably understated. The actual inflation is usually double what they tell you.
    However, in view of Trump’s fiscal and monetary recklessness in 2020 (and continued on by Biden), there was ALWAYS going to be a tsunami of inflation irrespective of the sanctions against Russia.

    You see, the Zio owned media will always pursue the classic M.O of blaming inflation on anyone but the real culprit.
    They’ll blame the Russian sanctions, they’ll blame the Covid induced supply chain disruptions or greedy capitalists etc.
    Yes, the first two factors are contributing a little, on the margin.
    (As for the capitalists, they are no more greedy today than they were in previous eras. In a Free Market it is impossible to pass on increased prices in a competitive market where no one has monopolised a sector.
    Because to do so would entail loss of market share and reduced profits.
    In other words, greedy capitalists are NOT A FACTOR to any significant degree as far as the present inflationary episode is concerned).

    The MSM, politicians and Keynesian economists will never blame the real culprit responsible for inflation.

    Do I really need to spell out who is responsible for the inflation ?

    The near entirety of the inflation problem is courtesy of the Zionist Usury Banking Cartel. ie: the owners and/or controllers of the Federal Reserve, the Bank of England, the ECB and most other western central banks.
    They are printing/digitally creating obscene quantities of money.

    And, BY DEFINITION, Inflation* is an increase in the MONEY SUPPLY.

    (*Which is not to be confused with Consumer Price Inflation, or inflation in the value of stocks, bonds, Real Estate or Bitcoin – which are the SYMPTOMS of an increase in the money supply).

    Let’s not put the cart before the horse.

    The increase in the Money Supply comes FIRST – then consumer price inflation follows.

    It is NEVER the other way around – with NO exceptions in all of human history.

    • Thanks: Emslander
  187. The movie list is interesting, despite the radical change in the market with Superhero CGI drek geared for the Asian market it still mostly has traditional 20th century American movies on it. I’d like to see just US totals and wonder if some of the 21st century stuff like “Avengers Endgame” would still rank so high? I never saw anything like 1977’s Star Wars phenomenon since excepting Titanic which had a female repeat audience instead of all the little boys who were still packing the theaters for Star Wars 8 months after it’s release. The other’s like Sound of Music, 10 Commandments, Gone with the Wind were before I was born so can’t provide any first hand accounts.

  188. Alrenous says: • Website
    @Trevor

    The real damage was in 1776 when Americans let a bunch of terrorists, religious nutjobs, and other criminals seize their country for the sake of egos and wallets.

  189. @Anon

    This is a sensible analysis, and thank you. Get a moniker and stick around 🙂

    I’ll just note the sad fact that 2/3 of African “families” in the USA and 3/4 of Hispanic families own no stocks and bonds whatsoever. Africans almost monolithically support the Democrat Party, while Hispanics and Asians (for some reason) support it solidly.

    The bottom 60% of people in the USA own openly 7.2% of the corporate stocks held here.

    So probably a majority of Biden voters in 2020 owned no stock, and the same will be true of Harris/Biden voters in 2024.

    (The median value of household stock holdings among those who own stocks, is only \$40,000. Thus, it is likely that a majority of REPUBLICAN voters likely own very little stock, usually less than \$100,000.)

    ………………

    Good thought generally about the West using removal of sanctions as a bargaining chip, but there’s reason to question just how valuable a chip that is. The longer the sanctions go on, the more Russia develops domestic substitutes for some products/services (and yes, probably buys much of the rest from China).

    And, no matter whether the West lifts sanctions soon or not, Russia et al. may have finally learned their lesson about trusting or hoping from equal respect and honesty from the US, “uk”, and the eu.

    Lifting sanctions will not put the genie back in the bottle when it comes to the self-inflicted dethroning of the USD as world reserve currency. Russia, China, and Iran will not slow the ongoing process of shifting settlement of their growing energy and agricultural trade from USD to yuan and rubles.

    The same likely will be true of the dozens of smaller countries that the US has bullied & threatened (and sometimes sanctioned or attacked) over the past seventy years, including eventually Vietnam, South Korea, and the Philippines. All of them will wisely continue to shift settlement of their transactions from US Dollars to Chinese yuan and Russian Rubles.

    ………..

    Anyway, those stock-owning Democrat / independent Hispanics and Asians and suburban white women for voted for Soros-Harris-Biden, however …. yeah, they ought to be angry at the tanking of the stock market, and worried — if it doesn’t recover most of its value within the next year or so.

    But won’t most of them just blame Russia?

    Just as absurd as blaming Russia for the US government refusing to let people import oil and gas from the Russian Federation, I know. But it’s easy to imagine that happening with enough media/school repetition, isn’t it?

  190. ricpic says:

    What can a powerless person (like me) do in a high inflation environment? Pull in my horns. Translation: buy only what I need, not what I want. I’m not saying others shouldn’t talk about solutions. Only that such talk is futile. It would be nice if our country was not in the hands of a rapacious, even malevolent few. But it is. And I don’t see an armed uprising succeeding…or even materializing.

    • Replies: @azureamaranthine
  191. @Trevor

    The folks I blame for the demise of the US are all dead.

    Woodrow Wilson–the World War I slaughterhouse “make the world safe for Democracy”, the Federal Reserve, the Income Tax.

    It was all over but the screaming at that point.

    It is just taking a while to play out….

    • Replies: @mike99588
    , @Trevor
  192. @Ann Nonny Mouse

    I though the Christian ancestral core of the USA was WASP. How can you write that?

    I say:

    I am a Euro-Mongrel with half of my ancestry from wooden sailing boats and half from steel boats powered by coal or oil, I guess.

    I have some English ancestry and I use WASP as that Digby Baltzell did. Baltzell was a rich boy turd who went to a rich boy school and used WASP to refer to other rich boy types like the members of the Bush Organized Crime Syndicate. I was disappointed to see the Bush mob goons have some Norman blood too.

    New England has a few percent of the population that would be considered WASPs, and a lot of people with English ancestry. The ones with English ancestry are good people, mostly — they seem highly susceptible to running amok with drink and drugs though. Gin Lane and Ale Street or Gin Street and Ale Lane — seems like an old problem for the English.

    I am not sure Digby Baltzell had any English blood whatsoever.

  193. Avery says:
    @Priss Factor

    {In this case, the Negress is better.}

    Agree.
    Unquestionably better.

    Dr. Oz is a Turk nationalist.
    Another radical anti-Christian Islamist in US Congress?
    A US Senator?
    God help us.

    Trump has lost his mind .
    Or………

    Kathy Barnette for US Senate.

  194. FULL VOLCKER NOW!

    Full Volcker means twenty percent federal funds rate.

    Fire sale the Fed’s asset portfolio(balance sheet).

    Immediately suspend Federal Reserve Bank purchases of mortgage-backed securities and government debt.

    QUANTITATIVE TIGHTENING NOW!

  195. BREAKING: Rand Paul Blocks \$40B Ukraine Bill, Explains Why
    328,454 views May 12, 2022

    Rand Paul correctly explains why sending this shit ton of money of Ukraine is inflationary and is bankrupting the nation.

    \$60 Billion to Ukraine assholes = \$60,000,000,000 down the shit hole

    F-CK THE UNITED STATES CONGRESS FOR WASTING OUR MONEY LIKE THIS

    ———————–

    https://www.advisorperspectives.com/dshort/updates/2022/04/14/march-inflation-the-components

  196. @Robert Dolan

    You’re a Boomer and a Jewish ally. Sit down and shut up, or join the pillowed brigade. Don’t put the shoe on if it doesn’t fit you.

    By the same measure, when you DO, as you just have, put the shoe on, everyone can see that the description is accurately yours.

  197. @ricpic

    Convert currency as fast as you possibly can into forms that are not subject to inflation. This means material assets, and the less prone to spoilage/degradation the better.

  198. mike99588 says:
    @Justvisiting

    Mr Lincoln’s War damaged us pretty badly Constitutionally/civilization-wise, except his ill-timed absence turned loose the worst radicals then, instead of shipping our problems away like he promised.
    e.g. like the maniacal Thaddeus Stevens

    • Replies: @Sebastian Hawks
  199. @Bo Bo

    Beijing,office of Xi: ” OK who da wise guy told us we buy T bills? Who? Hu? You? You say ” Xi,sweetie,T Bill belly belly good. You buy. Chop chop!!” Now what I got flum lound-eye muddafukkaz?? I got bupkus!!
    Take him out and shoot him! Twice!
    Now why evvy body lookin’ at me? What I do? Heh heh wasn’t my idea. It was Hu. C’mon fellaz,we all comrades right? Hey,Hung Lo,I attend daughter bat mitzvah. Give big check. And Wong,I give dumb brother good job,much bank! Lets discuss! Hey let go of me! I want mama san!!!”

    • Troll: mulga mumblebrain
    • Replies: @mulga mumblebrain
  200. Trevor says:
    @Justvisiting

    I agree with you but despite those the USA still had great potential.

    Not so much now in 2022.

  201. Notsofast says:
    @Joe862

    no, it’s you that have nothing, your parents didn’t love you and that’s why your such a failure, blah blah blah. there are shiftless ingrateful douchebags like you in every generation, but it seems to be getting worse with every passing generation.

  202. @Charles Pewitt

    WASP’s are not in charge and have not been for a long long time. When WASP’s were in charge we did not have any of these problems. Jews supplanted WASP’s as the Elite a long time ago. Nice try.

  203. @Robert Dolan

    Before the Boomer generation white people marched in the nations capitol to keep our borders closed to non whites for decades. The Boomers dropped the ball and allowed the jews to get them to think with their emotions and they have ruined the nation. Now Boomers refuse to admit their mistake and call anyone who points out how they dropped the ball racists.

    Jews tried to open our borders for at least 3 generations before the idiot hippie Boomers let them. Boomers suck.

    • Replies: @Justvisiting
    , @mike99588
  204. @James Scott

    I was thirteen years old when “the greatest generation” guy Javits decided to open the US border to the third world.

    Wtf was I supposed to do about it?

    This boomer bashing is pure insanity.

    • Agree: Trevor
    • Replies: @James Scott
  205. When is Anglin going to apologize for promoting the obvious homosexual Nick Fuentes?

    Oh, never? OK, I guess I can continue to disparage his Jew-run (Weev) website.

    Ron Unz apparently allows all kinds of scum in his comments sections. I don’t know where he finds the patience.

  206. @Bardon Kaldlan

    So much for the famed ‘Jewish sense of humour’.

  207. @Realist

    The Market’??!! Oh, you mean the rich owners of society. Why don’t you say so.

  208. @Realist

    When inequality is at record levels, incomes stagnating, most families with no savings or capacity to save, and mortgage payments sky-rocketing, where do people get the money to save? From not eating? Footpaddery?

    • Replies: @Realist
  209. johnm33 says:
    @eternal anglophile

    Michael Hudsons work is very accesible, you won’t be spoonfed the details but you’ll acquire a decent overview to form a framework, if you follow his work.

  210. ANDREW ANGLIN, and you other die-hard Bitcoin hodlers, this comment is for you.

    I suggest you listen to the last 10 minutes or so of this Peter Schiff audio podcast:

    In particular, see what Schiff has to say around the 52:40 mark about the Terra Luna coin.
    This was one of the top 10 cryptocurrencies with a \$50 – \$60 billion market cap as recently as last month when the coins were trading at almost \$120 each.

    Well, I checked the price a few minutes ago and it was under \$0.0003.
    No typo there – that’s THREE ONE-HUNDREDTHS OF ONE CENT.

    Take a look at the char below (be sure to click on the ‘3M’ (3 months) tab to view its performance since February:

    https://coinmarketcap.com/currencies/terra-luna/

    Peter Schiff says Terra Luna lost 99% of its value in ONE DAY of trading.

    Bottom Line: If this can happen to a crypto coin with a \$50 – \$60 billion market cap, it can happen to any other cryptocurrency.

    Holders of these digital tokens who bought them because they were touted as ‘safe haven’ investments against a USD that was losing purchasing power due to inflation, you’ve all been conned.

    You will lose 100% of your purchasing power very soon if you’re foolish enough to ride them down into the abyss.

  211. Emslander says:
    @Truth Vigilante

    Crypto coins are the Beany Babies of the finance world.

  212. TTSSYF says:
    @Emslander

    Agreed. It wasn’t Boomers who changed the immigration laws in 1965. I’m technically a Boomer but have voted against this nonsense for as long as I’ve been able to vote. I likewise have no debt other than a relatively small amount remaining on my home mortgage that I will gladly pay off with inflated, increasingly worthless dollars. I do regret not spending more of my money through the years and instead banking it in a 401(k) that likely will be worth half (if I’m lucky) of what it was worth when I contributed to it.

    • Replies: @Sebastian Hawks
  213. @mike99588

    Assuming Lincoln wasn’t lying when he made anti black statements but his actions were to murder a million whites in order to turn them loose. Remember Obama too made lip service against gay marriage when politically expedient to do so. But under his watch so called “gay marriage” became the law of the land and this unfathomable “transgenderism” crap emerged like a wildfire.

  214. @TTSSYF

    The “greatest generation” allowed the jews to raise their kids. Who was in power in ’65 when Hart Cellar passed? The “greatest generation” were still middle aged and the high leadership in their 60s and 70s were from an even earlier generation whatever you called it.

    • Replies: @TTSSYF
  215. @Truth Vigilante

    4-5-2022 \$119.10
    5-12-2022 .03

    Wooaaaah

    • Replies: @Trevor
  216. Realist says:
    @mulga mumblebrain

    When inequality is at record levels, incomes stagnating, most families with no savings or capacity to save, and mortgage payments sky-rocketing, where do people get the money to save?

    First, anyone who gets a variable rate mortgage is a fool. And second, people get the money to save by not buying useless shit.

  217. Realist says:

    When inequality is at record levels, incomes stagnating, most families with no savings or capacity to save, and mortgage payments sky-rocketing, where do people get the money to save?

    First, anyone who gets a variable rate mortgage is a fool. And second, people get the money to save by not buying useless shit that most people do.

    • Replies: @mulga mumblebrain
  218. Notsofast says:
    @Vinnyvette

    you and your siamese twin brother are both so stupid that you think the federal reserve is the solution rather than the cause of the problem.

  219. Cookie says:

    Congratulations people in waking up to the people who ruined the west.

    They sat down in their protests giving peace signs and claiming they were going to “change the world!”

    They sure did that…to the expense of the later generations future prospects.

    But hey they don’t give an-f, you may have a couple defending them on this site but evidence is in.

    When you talk to a boomer their first utterance is usually “I!”

    Well those down and out jews feeling the holes in their pockets in the 60s as they walked down the street started to listen to the ravings of this lunatic generation, they looked at the birth statistics and then their eyes lit up…”were in here for some great times boys!”

    And so this is now what is left for the rest of us as the legacy of our forefathers squandered by the “I…I…f-you generation.”

    • Replies: @mike99588
  220. Cking says:
    @Charles Pewitt

    Reference Michael Hudson’s description and assessment of the 2008 Financial Meltdown and the Obama Administrations solution to bailout the Wall St. banker-speculators at the expense of America’s Main St. economy; obviously the root of our present crisis.

    The Boomers did not come into their own, until the Nixon and Carter era and the economy was purposely torpedoed by the Volcker Plan, the war on America. Boomers were taught; ‘There is no alternative’. The Reagan Administration’s Fed Chair Greenspan, ‘The Maestro’ ‘saved’ America with his ‘Wall of Money’ trick. Putting gobs of money in the now speculative housing sector. It didn’t last. Clinton, under pressure from the Monica induced impeachment, rescinded the Glass-Steagall Act and ten years later the Financial System began to collapse.

    Now America must rise up, recognize, assess, and terminate the destructive Marxist/Woke/DNC/MSM driven culture war and demand the reorganization of the Fed/Wall St. system, retrieve the lost, unaccounted for, and Stolen \$Trillions that can fund and implement the new, nuclear powered, economy platform, the Redevelopment of North America, because, there is no alternative, millions of lives are at stake.

  221. Sparkon says:
    @Commentator Mike

    This so called inflation, which is actually hyperinflation, is simply price gouging across the board to generate more profits for the capitalist and more taxes for the government

    Agreed about the greed and price gouging.

    I think one of the underlying, root causes of the current hyperinflation is renewable energy. Recall Obama promised “skyrocketing” energy costs as a result of his war on coal. Those skyrocketing energy costs have increased the cost of doing business for everyone, which sets off a cycle of sustainable runaway inflation.

    Even as rents have gone through the roof in California, putting more and more people out on the street and into tents on the sidewalk, the state recently announced a record budget surplus.

  222. @Cking

    Cloud Cuckoo thinking. The ecological collapse is too far gone for any human renaissance, unless our unlucky descendants get their act together, in about a few hundred thousand years, after things have settled down a bit.

    • Replies: @Cking
  223. @Realist

    ‘Useless shit’ like food and fuel, eh, you misanthropic bastard. Almost an anagram of ‘Real shit’.

    • Troll: Realist
  224. Cking says:
    @mulga mumblebrain

    A ‘Climate Controlled’ ‘Green’ economy is the pretext to radically reduce the human species population.

    • Replies: @mulga mumblebrain
  225. Trevor says:
    @Emil Nikola Richard

    5/14 0.000017 ANOTHER -99.9433% DOWN 🔻🔻🔻 from 0.03. And stupid money bought at 0.03.

  226. @Justvisiting

    If you were 13 then it was not you but I bet you went along and that does not change the FACT that every generation before the Boomers marched in the nations capitols demanding non whites not be allowed in. This is a FACT you are ignoring. The Boomer generation screwed the pooch and ruined the USA so they could do dope and have sex with non whites. You should have beat the hippies asses like EVERY GENERATION BEFORE YOU DID. Claiming innocence is bullshit.

    Ignoring my only point to claim I am wrong is a sure sign of a low IQ. Address my point or accept the FACT that the Boomers fucked over their kids and grandchildren by dropping the ball.

    • Replies: @Sparkon
    , @Justvisiting
  227. Sparkon says:
    @James Scott

    You are a complete ignoramus babbling nonsense. Please cite dates for those marches you claim took place.

    Maybe you’re thinking of the “March on Washington for Jobs and Freedom” that took place on August 28, 1963, right before my senior year in high school, when I was still 16, as were quite a few of my classmates, the oldest Baby Boomers born in 1946.

    Image: Encyclopedia Britannica

    Or, maybe you’re thinking of the March on Washington Movement (1941-1947)

    https://www.blackpast.org/african-american-history/march-washington-movement-1941-1947/

    But that’s all I could find in a quick search, so now the spotlight is on you to produce some citations to support your claims.

    I’m a Boomer, you know, so BS won’t fly. Put up or shut up.

    Now tell us your age Scott, while we’re waiting to hear from the other Boomer bashing big mouth running his hateful keyboard here, Pewitt.

    • Replies: @James Scott
  228. mike99588 says:
    @James Scott

    I was 8, near the Boomer peak, when LBJ signed that 1965 pack of immigration lies.
    Our next door neighbor, a WWII vet, voted for LBJ and similar Dims.

    Boomers would take until Reagan to reign parents (nixon environmental and price) controls that even Carter finally realized were killing the economy and jobs.

    • Replies: @James Scott
  229. mike99588 says:
    @Cookie

    You’re being a babbling idiot playing the Boomer blame game.

    A lot of Boomers’ jobs lives and futures were sacrificed to Baal, as continues now.
    The various globalist and commie tard lies simply continued to grow unchecked in media, gov, university, law, schools, etc as most 2 previous generations of progressives. Medical conservatism was murdered by pharma and commies in the 60s.

    The skids have been greased a long time, and now, it’s last chance.
    Choose your targets wisely.

  230. @Cking

    You wrote:

    Reference Michael Hudson’s description and assessment of the 2008 Financial Meltdown and the Obama Administrations solution to bailout the Wall St. banker-speculators at the expense of America’s Main St. economy; obviously the root of our present crisis.

    You know, well AFTER THE EVENT, Michael Hudson talks a pretty good game.

    But, WHERE WAS HUDSON BEFORE the 2008 GFC warning the world about the impending crisis?
    I mean, if his brand of Keynesianism/Trotskyist Central Planning/Big Government Statism is so good and his understanding of economics is so thorough, he would’ve known of the impending cataclysm, surely ?

    I’ve had an exchange here with one of Hudson’e groupies here in UR some months ago who uses the handle Mofo.
    He said that Hudson had been issuing said warnings before the GFC, so I asked him to post the link to said videos/interviews that Hudson did that prove he forcefully and assertively said that it was going to blow up.

    Anyway, here we are months later and all I hear is …… crickets.

    Meanwhile, two Libertarian individuals well versed in the Austrian Economic School of thought and thoroughly knowledgeable about ABCT (Austrian Business Cycle Theory), predicted that the subprime mortgage crisis would lead to systemic collapse.

    Here is one of them (3 min video featuring Dr Ron Paul):

    The following video is longer, but I urge readers to take the time to watch all of it:

    The video above is simply STUNNING. It features the legendary Peter Schiff at the Mortgage Bankers Conference in Las Vegas – TWO YEARS BEFORE the 2008 Subprime meltdown that led to the 2008 GFC.

    I ask all of you, can you HONESTLY say you ever heard anyone predict, with this PRECISION:

    1) WHAT would happen
    2) HOW things would unravel
    3) WHAT the implications of it were for the broader economy.

    Yes, yes we heard some mumblings from the likes of one or two economists like Nouriel Roubini and a handful of others that hedged their bets by saying things like:
    ‘This had the potential to develop into a crisis’ and ‘that the subprime mortgage issue threatened to affect the whole mortgage market to some degree’ and that losses for lenders would be ‘somewhat greater than forecast’.

    These were HALF-HEARTED predictions.

    No one, and I do mean NO ONE came within a dozen orders of magnitude of Peter Schiff in predicting CATASTROPHIC SYSTEMIC COLLAPSE.

    Just watch that video above and see for yourself that I am not exaggerating.

    Meanwhile, all you Michael Hudson groupies out there, I’ll gladly eat my words about him if you can show me the SCORES of interviews Hudson did with Fox Business, CNBC, Bloomberg, RT America and countless other news and business channels (just like Peter Schiff did) predicting the 2008 GFC.

    I think it’s safe to say that I won’t be hearing from the Hudson cultists.
    Because there were NO SUCH predictions.
    Because Hudson was clueless then and is clueless now about the Coming Inflationary Depression that the U.S is about to enter (the one future history books will be calling the ‘Greater Depression’).

    That’s why Hudson had me banned from posting commentary in his articles.

    He can’t take constructive criticism and starts sulking whenever I point out his voodoo economic shortcomings.
    Of course, if his economic beliefs were based on solid foundations, he’d welcome my input and eviscerate my remarks – thus further enhancing his own personal standing.

    I asked him if he’d be willing to debate Peter Schiff – something that could be featured right here in the Unz Review, and thus greatly raising the profile of UR in light of Peter Schiff’s incredible following and name recognition throughout the world.

    But Hudson chickened out.

  231. TTSSYF says:
    @Sebastian Hawks

    I didn’t say it was the “greatest generation” that is responsible. I was merely making the point that it wasn’t Boomers who changed the immigration laws in 1965 and set this country on “the path to national suicide,” to quote the late Lawrence Auster.

    In fact, I don’t believe in blaming any given generation for the mess this country is in. There is plenty of blame to go around, beginning with the Woodrow Wilson era, if not earlier. The common thread is Leftism, now even more dangerous because of the reach of global predators such as Xi, Fauci, Gates, Schwab, Soros, etc.

  232. @Sparkon

    The Klan marched in DC every year for decades. You Boomers allowed the jews to convince you the people who upheld the rule of law in the South after reconstruction were simply evil racists. If it was not the Boomer generation who fell for this who was it? Something is wrong with you. Suck it up buttercup.

    I am almost a Boomer and figured out non whites were toxic by the 7th grade. I have spent my whole life ringing the bell and cannot count how many times a stupid Boomer told me how wrong it is too be racist. You Boomers badmouthed your parents and grandparents for telling the truth and still do. Boomers have doubled down on the cries of racism so they can die without admitting to themselves they fucked over their kids. Who was the hippie generation that decided free love and drug parties with non whites mattered more than kith and kin?

    You cannot win this argument because the Boomers did exactly what I claim.

    • Replies: @Sparkon
    , @TTSSYF
  233. @mike99588

    You are a tail end Boomer so you not having power does not change the FACT that the Boomers bashed their parents and grandparents as racists and raised the idiotic millennials. The Boomers dropped the ball and not admitting it is not an option if we are going to turn this around.

    We have only slipped further and further to the left as the Boomers gained more and more power. Fiscal reality setting in every once in awhile does not change this stone cold fact.

    Boomers want to shuffle off without admitting they fucked over their children and grandchildren. No.

  234. @James Scott

    Exactly wtf was I supposed to do?

    Be specific.

    Which hill was I supposed to die on–and when?

    • Replies: @James Scott
  235. gkruz says:
    @Charles Pewitt

    “White Core America Patriots born after 1965″…
    Yeah, all six of them.
    I continue to notice that every hyper anti-Boomer post I see online almost always has a glaring lack of mention of ((oy!))).

  236. Cking says:
    @Truth Vigilante

    I think you’re being argumentative for little gain, I expect a benefit from your information. Nonetheless, the statement I made, referencing Michael Hudson, is correct; the Obama Administration saved the banker-speculators at the expense of the US Main St. economy in the aftermath and solution of the 2008 Financial Meltdown.

    I find the Austrian School, aristocratic, founded by cosmopolitan 18th Century rentiers in Vienna, Austria who did not want to pay taxes on their property and rents and so created the monetary logic/market based ideology that exists to this day. Today’s adherents are too hostile, argumentative, who irrationally preach against government issued fiat money. The Fed/Wall St. system is government supported, debt based system, and the Investor/Creditors, many of them informed via the Austrian School, are always looking for ‘free lunch’ investments, issuers of predatory loans through the financialization of the Main St. economy, with an eye on privatizing the entire public domain, because they have no creativity and no regard for the welfare of the people they parasitize. Michael Hudson shows us the ‘mechanics’, the how, within the system, describing very simply, the many usurious, speculative, operations in our everyday, existential system, the economy. For that, you can’t find fault in the man.

    • Replies: @Truth Vigilante
  237. Sparkon says:
    @James Scott

    In the long run, the KKK probably served black interests more than white, as its excesses and terror tactics motivated blacks to rally together to form their own organizations, which slowly but surely gained size and momentum over the decades, helped along especially by WWII, where significant numbers of black GIs served Uncle Sam honorably.

    You Boomers allowed the jews to convince you the people who upheld the rule of law in the South after reconstruction were simply evil racists.

    Where do you get these idiotic ideas? You should learn some history instead of playing the blame game. Harboring all that misplaced anger will undermine your health, if not your sanity.

    The entire school integration program was set in motion by the landmark 1954 Supreme Court ruling in Brown v. Board of Education of Topeka, which declared that racial segregation in schools was unconstitutional, and I can assure you there was not a single Baby Boomer on this entire green planet who played any role at all in that Supreme Court decision.

    Pres. Eisenhower signed the Civil Rights bill, and deployed the 101st Airborne while while federalizing the Arkansas National Guard to enforce integration of Little Rock Central HS in 1957. Again, no Boomers in sight.

    But the seeds were planted long before that with the formation of the NAACP. A little reading might expand your knowledge and even help dispel some of your misplaced anger.

    Well, actually, the real first seeds were planted with the first boatload of slaves.

    You Boomers badmouthed your parents and grandparents for telling the truth and still do.

    You are still just babbling nonsense. You are so wrong, and obviously have no idea at all what you’re talking about

  238. TTSSYF says:
    @James Scott

    If the Boomer generation was so bad and your generation has got it all figured out, why is “wokeism” being shoved down our throats 24/7? Why are there blacks on 90% of all television commercials? Your generation is in charge now, so why is everything the Boomers did not only not being repudiated but, to the contrary, being ramped up by orders of magnitude? Your generation thinks there are more genders than Baskin Robbins has ice cream. Our newest GenX Supreme Court justice can’t even say what a woman is. At least the Boomers protested the Vietnam War. Your generation is on-board with going to war with Russia.

    Take the log out of your own eye before you criticize the speck in another’s.

    • Agree: Cking
    • Replies: @James Scott
  239. @Truth Vigilante

    The Austrian Economic School of thought has been sounding the alarm of the impending doom of high inflation, for 40 years. Below is a 1982 quote from Murray Rothbard, the king of the Austrian School in the introduction to the 5th edition of his book The Great Depression:

    “Until then, the Austrian program of hard money, the gold standard, abolition of the Fed, and laissez-faire, will have been rejected by everyone: economists, politicians, and the public, as too harsh and Draconian. But Aus- trian policies are comfortable and moderate compared to the eco- nomic hell of permanent inflation, stagnation, high unemploy- ment, and inflationary depression that Keynesians and Friedman- ite neo-Keynesians have gotten us into”

    Instead the US economy has experienced a steady decline of interest rates, a growing stock market, unemployment in the 4 to 6% range and inflation under control for the last 40 years. Looks like to me the Fed has done a decent job for 4 decades, despite the fact of the US government’s reckless spending working against the Fed.

    • Replies: @Truth Vigilante
  240. EH says:
    @The Alarmist

    Shadowstats money-supply figures let me see the 2008 financial crisis coming back in 2005, but his inflation figures are just wrong.

    According to him, the prices have risen not by a factor of two since 1994, as the official figures say, but a factor of ten. Two is a bit too low, but it’s fairly close – a factor of 2.5 or 3 would be believable – but aside from medical insurance, what costs ten times as much? Nothing.

    He just adds a constant factor to the official inflation numbers, and the error compounds year after year. His current estimate of 16-17% inflation may well be too low, though.

  241. EH says: • Website
    @Charles Pewitt

    First off, the interest rate can’t go above about 4% without bankrupting the Federal government, all the revenue would go to paying interest. Even less than that would cause huge problems. Second, it’s retirees, mostly boomers, that are most screwed by low interest rates, which mans low rates of return on their fixed-income investments. Third, even 20% interest wouldn’t be much of a real return after current inflation.

    Real rates of return on low-risk investments are running at negative 8-12%.

    It’s astonishing to me that virtually no one in the seems to have realized what this does to calculations of present and future value. Cash is trash; risky, long-term investments are best.

    • Replies: @Justvisiting
  242. @Truth Vigilante

    Everybody and their cat ‘predicted’ the sub-prime implosion. Even I did-but no-one listened. Good God, why did they not listen?

  243. @Cking

    Silly fellow. We either reduce the human population, slowly and humanely, or ecological collapse will do it precipitously and pitilessly. I can see which you prefer.

    • Replies: @Cking
  244. @Cking

    You wrote [of Michael Hudson]:

    For that, you can’t find fault in the man.

    I found a ton of fault with Michael Hudson (refer to the comments section of articles written by him before about 2 months ago).

    Unable to refute my eviscerations of him, unable to counter with valid responses, unwilling to debate his ideas with the Libertarians, Michael Hudson had me banned from the commentary section of his articles.

    This is what tyrants do when their beliefs are based on pie-in-the-sky foundations.

    They’re unable to defend their positions, so they ban you. That’s what the Zio controlled ruling elite have done to dissenters to the official Covid narrative.
    That’s what they do to ‘Holocaust deniers’ and how they deplatform you from You Tube, Twitter and elsewhere.

    If you’re in Michael Hudson’s corner, then you’re evidently also on board with censorship and the DHL’s Disinformation Governance board.

    Congratulations then. Your utopian surveillance/police state environment has been realised living in the U.S.
    You should be pleased.

  245. @Sam Hildebrand

    You wrote:

    Instead the US economy has experienced a steady decline of interest rates, a growing stock market, unemployment in the 4 to 6% range and inflation under control for the last 40 years. Looks like to me the Fed has done a decent job for 4 decades, despite the fact of the US government’s reckless spending working against the Fed.

    What are you smoking, to be saying these things ?

    The U.S government’s reckless spending is ENABLED by the Fed. Absent the creation of countless trillions that the Fed uses to buy U.S treasuries, the U.S government would not be able to fund its chronic budget deficits.

    The steady decline of interest rates is a DISASTER for the U.S economy and the working class.
    The Fed has digitally created countless trillions to purchase long [and short] dated bonds to MANIPULATE interest rates to artificially low levels.

    Absent this Fed intervention, in a Free Market the interest rates would be in the double digit region.

    Setting rates too low is a BAD thing. It encourages consumers and businesses to borrow at the low rates and when rates go up, as they inevitably will, businesses will go bankrupt when they can’t service the loans.
    Home owners will be forced to sell at depressed prices (a repeat of the 2008 GFC) when they’re unable to pay the higher mortgage repayments that higher rates will cause.

    The low unemployment rate is a mirage. The U.S government manipulates all stats – the GDP growth rate, the inflation rate and unemployment.

    What ‘growth’ you see is all courtesy of debt-funds consumption and will soon go pear shaped.
    (It’s already happening – the Dow Jones/ S & P 500 is well down from its peak and the NASDAQ is down over 25%).

    This is just the beginning. The U.S stock and bond markets and U.S economy are about to implode.

    • Agree: Boba Lazarević
    • Replies: @Alrenous
  246. “what are you smoking”

    Winston Gold 100s, same price, more tobacco than the shorts.

    “The U.S government’s reckless spending is ENABLED by the Fed.”

    Chicken or the egg. You think those idiots in congress were going to stop spending if interest rates went up? Without the Fed, congress would have raised taxes and/or literally fired up the printing press to fund their vote buying/money laundering operations with the results being deep depressions and actual hyperinflation ( not this bush league 8%).

    The Fed has done a decent job leveling off the peaks and troughs of the business cycle the past 40 years. Low interest rates may have contributed to the 2008 crisis, but the main cause was a housing bubble created by greedy/stupid bankers lowering credit standards for mortgages.

    You may be right, the US economy and stock market may implode, or this may just be another shortlived blip, with the stock market recovering in a few months and inflation leveling out. Without a doubt, continued deficit spending by the government could cause the mayhem that Rothbard was screaming was imminent in 1982, Im just not sure we are at that point. The Fed has a pretty good track record covering for the U.S. government’s mistakes.

  247. You write:

    The Fed has a pretty good track record covering for the U.S. government’s mistakes.

    The Fed is not there to cover for the mistakes of politicians. The Fed doesn’t give a rats arse about the diminished welfare of the American citizenry which results from political incompetence.
    The Fed intentionally creates a set of circumstances that will impoverish the bulk of the middle and lower classes and thus make it easier for the ruling elite to lord over them.

    You forget that the Federal Reserve is a private banking cartel. More specifically it is owned by the Zionist Usury Banking Cartel.
    It’s SOLE purpose is to enrich its Zionist cronies through bailouts and such, whenever they get into financial trouble from their reckless speculation (as Goldman Sachs and few others did in the 2008 GFC).
    In between that, it funds the chronic deficits that, in no small part, were created due to the stratospheric expenditure on the U.S Military-Security Industrial complex. (MSIC).

    Said MSIC’s role (the ‘Security’ part of it), is to make sure subversive Americans are surveilled constantly, in the event that they foment an insurrection.

    The ‘Military’ component is in pursuit of fighting wars for Israel and/or destroying those nations that threaten Israel’s hegemony in the Middle East.

    In addition, the MSIC aims to destabilise/sanction/demonise any nation that ASSISTS (Russia) in the prevention of the destruction of a targeted country (Syria) that was mapped out for annihilation and ultimately absorption into ‘ Greater Israel’ as part of the Oded Yinon Plan.

    The Feds EXCLUSIVE reason for existing is to do all these things and concurrently enrich the Zio cabal that controls the entirety of the western financial system.

    • Replies: @Sam Hildebrand
  248. @EH

    “virtually no one in the seems to have realized what this does to calculations of present and future value.”

    That is because such calculations have become impossible and absurd on their face. There is no real “investment” market at all anymore–it is just a casino.

    FIRE (financial, insurance, real estate) have just become one long con–and the con artists are as clueless as everybody else.

    In such an environment everybody just grabs what they can when they can–no calculations needed or wanted.

    Of course in such times it is critical to use name calling and finger pointing as the primary method of discourse.

    🙁

  249. @Truth Vigilante

    Wait, I would have thought raising interest rates would further enrich the Zio Banking Cabal. If the Feds sole purpose was to enrich the Cabal, they really screwed the pooch the past 40 years.

    Being a small business owner and home owner, low interest rates have been good to me and I’m solidly in the middle class.

    My dad started a farm implement dealership in 1961. The 20% interest rates in the early 80s nearly put him out of business, he never did recover financially. The floor plan payments on unsold tractors and combines setting on his lot drained him dry.

    • Replies: @Truth Vigilante
  250. Hoyeru says:
    @American Citizen

    The fabled Middle Class™ is an aberration and NOT the norm. It only appeared after WWII during very special and unique conditions. It’s dying because the conditions for sustaining it no longer exist anywhere in the so called Western world.
    Funny thing, it was the Russians who taught me that 20 years ago, Mark Amos in The Exile. So called “Capitalists” will never tell you simple facts such as these.

  251. Sparkon says:

    The fabled Middle Class™ is an aberration and NOT the norm. It only appeared after WWII during very special and unique conditions. It’s dying because the conditions for sustaining it no longer exist anywhere in the so called Western world.

    My mother and father and uncle were born in the 1920s, and were raised in the middle-class households of my grandparents, who were born in the 1890s. Both grandads served in WWI, and married thereafter Dad and uncle served in WWII, and married thereafter. They certainly weren’t wealthy people, but they certainly weren’t poor either, as evidenced by their homes, cars, and Sunday Go To Meetin’ clothes, all prominently visible in old family photos, so I’m sorry, but I think you’re wrong.

    • Replies: @Truth Vigilante
    , @SBaker
  252. @TTSSYF

    This reply is for Sparkon as well. I am only allowed 2 comments a day so…

    Leftists claim the Klan did more harm than good. Again the Boomers fell for the Klan are evil lies and your reply proves you are one of them. The Boomers did not march anywhere to keep the non whites out like their parents or grandparents did and nothing you wrote refutes this. The jews tried to pass those laws for decades and the Boomers dropped the ball.

    Boomers most certainly bashed their parents and grandparents for decades for their racial beliefs. Face it the anti racism meme was embraced by the Boomers wholeheartedly. Boomers demanded we are all the same. I don’t understand why Boomers won’t admit it and want to blame their parents they rebelled against for being racists. I am a Tweener and my generation is guilty of all the same crap. The difference is that I don’t lie about it.

    TTSFS, who raised the Millennials? The Boomers who called their parents and grandparents racists that’s who. Search Boomers are ashamed of their parents racism to find thousands of articles where Boomers bash their elders as racists. It would have been shocking if the Millennials turned out different. This is too easy guys. The Boomers dropped the ball and the only reason not to admit it is because Boomer have no shame. Boomers were the last generation that got to grow up in normal America and they fucked over their kids. This is a fact.

    • Replies: @TTSSYF
  253. @Justvisiting

    Your question is not honest. We are debating the Boomer generation not just you. Your low IQ is showing. My dad was a Boomer and he was not a moron who thought non whites were just like us. This does not change the fact most Boomers fell for the lies or at least went along.

    Boomers fucked over their kids. Suck it up and if it was not you or you never went along just say that. covering for the generation that demanded open borders for the USA is stupid.

    • Replies: @Sparkon
  254. Sparkon says:
    @James Scott

    Boomers fucked over their kids. Suck it up and if it was not you or you never went along just say that. covering for the generation that demanded open borders for the USA is stupid.

    Oh, you poor widdle twerp. Shouldn’t you put on your hood and white sheet and go march somewhere?

    Understand that the Klan was kryptonite to most white people. The KKK’s excesses, terror tactics, murders, burning crosses and goofy regalia got a lot of bad press, and probably generated some sympathy for the black cause among the bleeding hearts.

    There were about 4 million slaves emancipated during and at the conclusion of the Civil War. Maybe Lincoln should have tried to send them back to Africa right then and there, but if you want to play the blame game, at least get the guilty parties right.

    It wasn’t Baby Boomers who brought slaves to the Americas, nor were any Baby Boomers ever slave holders. The slave traders and slave owners are the real guilty parties in this affair, but they’re all gone now, so you in your ignorance and narrow outlook simply pick a convenient scapegoat.

    When I came of age, my hometown already had a sizable black ghetto, created by at least two waves of migration by rural southern blacks to work in the war factories of northern industrial cities during both WWI and WWII.

    Psst. and earlier, the area had been a stop on the Underground Railroad, run entirely by Baby Boomers, doncha know?

    And sure, in retrospect, my buddies and I should have gotten our B-B guns, slingshots and pea shooters out, and hopped on our bikes to make harassing raids on the black ghetto.

    That would have done about as much good as the KKK riding around and burning crosses.

  255. Cking says:
    @mulga mumblebrain

    If you’re a Malthusian you are for usury, speculation, anti-labor, poverty, perpetual wars, and depression.

  256. TTSSYF says:
    @James Scott

    I don’t disagree with much of what you say in criticizing Boomers. My only point is that the post-Boomer generations are not much better and, in fact, are doubling down on the idiocy. You say Boomers rejected what their parents thought, but then you blame Boomers for essentially brainwashing their children. Why are Boomer children and grandchildren not rejecting Boomer views?

    Rather than blaming one generation over another, I think it’s more accurate to place the blame on the common thread of Leftism that has existed in this country since the early 1900s. Post-WWII, the country was wealthy, and Boomers were spoiled and could afford to indulge in a lot of fanciful thinking.

    I don’t blame you and other post-Boomers for your anger at Boomers, but I think you should be equally angry at your contemporaries for not rebelling and instead taking it all to even more ridiculous extremes. I can’t tell you how many 30-year-olds I work with (or am related to) who roll their eyes at even a hint of an anti-woke comment by me and would no doubt have me fired or criminally charged if I told them what I really think about where this country was and where it is now.

  257. @Sam Hildebrand

    You write:

    My dad started a farm implement dealership in 1961. The 20% interest rates in the early 80s nearly put him out of business, he never did recover financially.

    You’re not exactly economically literate, are you ?

    WHY do you think Fed Chairman Paul Volcker put the Fed Funds rate up to 20% over 40 years ago?
    Of course he knew it would bring on one almighty recession and that it would close down many businesses and send countless numbers onto the unemployment scrap heap.

    He did it because HE HAD NO CHOICE.

    Either jack up interest rates OR the U.S goes into an inflationary depression which TOTALLY destroys the U.S economy (Weimar Germany style) and completely erodes the purchasing power of the USD.

    And, needless to say Volcker, the last decent Fed Chairman, the only one in the post war period with any guts, was successful. He DID break the back of inflation and the U.S lived to fight another day.

    Yes, of course, we ALL want lower interest rates. Who doesn’t want LOWER repayments on their mortgage, their car loan or whatever ?

    But interest rates that are artificially induced lower than a Free Market would dictate, HAVE SEVERE CONSEQUENCES – which have come back to bite the U.S in a ferocious way.

    Remember, high interest rates ONLY hurt you if you have BORROWINGS.
    It matters little to you whether interest rates are 5% or 500% if you did not borrow in the first place. After all, 500% of zero is still zero.

    In China, I recall reading that 90% of car buyers pay cash for their car in FULL.
    They worked hard and saved and when they had enough, they made the purchase.
    That’s how it should be.
    Americans meanwhile, are profligate and impatient. They live beyond their means and demand everything today. That’s why the need to borrow for major items.

    A genuinely successful business with a sustainable business model DOES NOT NEED TO BORROW.
    They can fund all their requirements from profits generated from organic growth.
    The only reason highly profitable businesses borrow is to expand and grow faster. Of course, when said expansion does not materialise because they read the economic tea leaves incorrectly, they get into trouble and sometimes go bust.

    The life lesson from that is:
    Pace yourself. Don’t expand your business too much or too fast. Never think that you’ll bask in the economic sunshine indefinitely.
    There are things called business cycles and soon enough there will be a downturn.
    Therefore, ALWAYS have a buffer of savings put away for a rainy day.

    Getting back to the issue of borrowing, the world has finite savings. Yes, the central banks can create money out of nothing. But, in the days of yore when the world had some degree of rational behaviour, money was not created copiously by the responsible governments of the world.

    The amount of money to be lent out to borrowers was a function of the amount of money being saved.
    When interest rates are low, this is a DISINCETIVE to save, since rates offered to savers are also minuscule.
    Instead, this an added incentive for them to be profligate and spend riotously.

    By having artificially low interest rates on offer to borrowers, people who were deemed a bad credit risk with a high likelihood of default on a home loan when mortgage rates were 10%, are now eligible to get a home loan with rates at 3%.

    BUT, the minute rates go up, AND THEY SURELY WILL (because eventually the MARKET will take over and central banks will lose control of the setting of rates), said people will default on their loan and all the money they spent will go down the toilet.
    In other words they’ll be WORSE OFF than if they were denied the loan in the first place.

    Same with businesses. Many Zombie businesses, that HAD NO RIGHT TO HAVE BEEN STARTED IN THE FIRST PLACE because they had an unsustainable business model, somehow can stay afloat because they get such low rates.

    Bottom Line: Every dollar that is lent out to a Zombie business or a home purchaser that would in normal times be deemed a bad credit risk, is ONE LESS DOLLAR THAT CAN BE LENT OUT to genuine and productive businesses and creditworthy home purchasers.

    In the end, money lent to a business that ends up going bust is WEALTH DESTROYED from society.
    Of course, no one can guarantee that a business will not go bust in future.
    However, if lending standards from the past are thrown out the window and reckless policies replace them (as they have done throughout the 21st century in the U.S), far greater wealth will be destroyed.

    That’s why America has becomes a shit-hole and is destined to sink further into the abyss, perhaps never to be extricated.

    • Replies: @Sam Hildebrand
  258. @Sparkon

    You know Sparkon, we’ve had more than our fair share of disagreements in the past.

    But credit where it’s due. I’ve read quite a few of your comments in this thread and they make a lot of sense.
    My compliments to you.

  259. @Truth Vigilante

    Wow you are all over the place with your posts. First you sang the praises of the Austrian School of economics. But when I pointed out their fabulously wrong prediction that we were in for permanent high inflation, interest rates and depression from 1982 forward unless we eliminated the Fed and went back to the gold standard, you changed your tune. Then you said the Feds sole purpose was to enrich the zio banking cabal. But you failed to address how low interest rates for 40 years has maximized bank profit.

    Now you are a business expert saying all legit businesses finance their operations with retained earnings, never a need for credit except for the questionable practice of growth. So how is a implement dealership suppose to have inventory on a low margin product? \$10 million of inventory with gross margin when sold on said inventory \$100,000. Operating loans are an essential tool for businesses. Long term debt is a whole different animal, but still has its uses.

    Then you said low interest rates were the reason bankers made loans to poor credit risks. High interest rates do not change the amount a borrower can reasonably pay back to the bank. If their income only justifies a \$500 monthly payment, the interest rate only affects the amount of the \$500 payment that goes to the actual asset purchased versus into the bankers pocket. A low interest rate does increase the size of the loan. Low interest rates allow a lower middle class couple to buy a \$80,000 home in a safe suburb. Versus with double digit interest their options are a gray or white mobile home in a run down trailer court. If anything high interest played a major part of the 2008 crisis. Billions of loans were made on homes to payoff high interest credit card balances. Many but not all bankers thought those same people would magically achieve restraint in credit card purchases, only to see them run up the same balances a year later. When the bubble burst those same people owed more on their homes than they were worth after using up all of their home equity to payoff credit cards.

    Credit card companies thrive on high interest rates. Because of the double digit rates they are less worried about poor credit risks because the high interest revenue can absorb the occasional default. Banks making loans in a low interest rate market have to be extra careful of defaults because the loss on one loan write off could eat up the revenue on all their other loans.

    What is it with Aussies and personal insults. You and Mulga go straight to nasty name calling and insults the minute someone disagrees with your opinion on how America should be run.

    • Replies: @Truth Vigilante
  260. @RIchebourg

    This is because you don’t live there. An insider view (unless they are ultra-patriotic brainwashed pro-establishment no-two-brain-cells-to-rub-together youngsters, paid Putin’s trolls or oligarchs) is not supportive of your optimistic evaluation. Sorry, I take oligarchs back, they are dropping like flies, so re-distribution of wealth affects them too. But ordinary people who have to work for their living are struggling, they have been for a long time. You can’t possibly think that any windfalls from oil and gas prices are going to benefit them? You should read bloggers from over there, there have some really good insights, but especially read comments. Comments sections are the only platforms where you can still find what is going on in reality.
    I am not having a go at you personally but the number of couch experts with shallow opinions seem to be taking over, shifting the point in a different direction. Inflation is the topic. And this article addressed the topic nicely. Russia and this pathetic excuse of a regional skirmish called the “War in Ukraine” has nothing to do with fuel/fossil fuels prices that drive the rest of it. Prices at the bowsers were up in many countries way before it all started. We had similar prices per barrel before, but they did not cause the impact that we see now. Any ideas why?

    • Replies: @peterAUS
  261. @Sam Hildebrand

    You wrote:

    What is it with Aussies and personal insults. You …. go straight to nasty name calling and insults the minute someone disagrees with your opinion on how America should be run.

    I looked over my comment # 263 and saw no personal insults directed at anyone.
    Surely you’re not referring to the fact that I said you were ‘economically illiterate’ and sulking over that ?
    That was just a statement of fact. Let’s face it, your grasp of the reasoning of why interest rates go up and down is positively juvenile.
    I mean, you seem to have swallowed the leftist propaganda that capitalists aligned with the ruling right wing party are ALWAYS* the ones who jack up interest rates because they’re heartless, and don’t care about working class people.

    (*For your reference, Fed Chairman Paul Volcker was appointed by the Carter administration, but the corrupt media would have you believe that Reagan was behind the push to jack up interest rates.)
    Admittedly, Reagan had the guts to stand by Volcker’s decision to raise rates in the early 80’s and was vindicated with a spectacular economic revival after being ridiculed 24/7 for the first couple of years of his tenure for crushing the economy with his voodoo ‘Reaganomics’.

    You go on to say the rather puzzling:

    Wow you are all over the place with your posts.
    First you sang the praises of the Austrian School of economics. But when I pointed out their fabulously wrong prediction that we were in for permanent high inflation, interest rates and depression from 1982 forward unless we eliminated the Fed and went back to the gold standard,you changed your tune.

    You have me confused with another. You’re welcome to look at my commenting history and you’ll see that I have always been 100% consistent.
    NO contradictions, NO U-turns, NO backtracking in any of my comments on any issue.

    Yes, I praised the Austrian School and will continue praising them because NO other school of economic thought is remotely as accurate.

    In relation to Murray Rothbard’s remark, he wasn’t wrong – he was just decades early as far as calling the really chronic inflation we’re experiencing now.

    But even in relation to the allegedly ‘lower’ inflation we had in the decades after Reagan’s tenure, surely you don’t believe the governments official inflation (or GDP growth, unemployment) figures, do you ?

    The U.S government LIES about everything. Inflation and unemployment stats are manipulated down while GDP is rigged to report higher than it really is.

    The U.S has had inflation. But, to the extent that it wasn’t much higher is due to a miracle of luck.
    Rothbard died in 1993 and had no way of knowing what the rise of China would do in keeping consumer price inflation lower than it otherwise would have been.

    As you’re well aware, the rise of China and the decimation of the U.S manufacturing base as U.S based manufacturers shut up shop and transferred to Asia, where low wage Chinese workers started to make products at dirt cheap levels (not to mention the advent of NAFTA that did likewise for offshoring jobs to low cost Mexico), meant that a deflationary wave swept the world and put off the final inflationary demise of the U.S by a couple of decades.

    Similarly, Dr Ron Paul and financial guru Peter Schiff who were calling for a systemic collapse and a meltdown in the housing marker years in advance of the 2008 GFC.
    For may years people were saying Dr Paul and Peter Schiff were wrong and they were ridiculed mercilessly by ignorant fools in the Zio owned MSM and elsewhere.

    They were NEVER WRONG. They were just EARLY with their predictions.

    Going off the Gold standard will be the undoing of the U.S – because no fiat based (ie: backed by nothing) monetary system has ever survived for long.
    The USD, as the reserve currency of the world, had the wherewithal to last longer than other currencies. But its death knell is nigh.

    And, absent the fiscal discipline that a Gold Standard imposes, it was inevitable that governments would overspend recklessly and finance their chronic deficits with money printing – leading to out of control inflation.

    Well, it’s happening right now. Rothbard got it right.

    In relation to this comment of yours:

    Low interest rates allow a lower middle class couple to buy a \$80,000 home in a safe suburb.

    Granted, low rates allow people to QUALIFY FOR THE LOAN for a home in a nice neighbourhood in situations where those same people with limited household income may not otherwise be able to qualify for that loan in a high interest rate environment.

    But the TRICK is not just the GETTING of the loan approval.

    SUCCESS should be measured in terms of:
    CAN THESE PEOPLE SERVICE THE LOAN LATER WHEN INTEREST RATES TICK UP as they inevitably do and keep doing so for decades until the loan is PAID OFF ?

    What good is it to have them get the loan, pour a ton of money into it and then see them evicted and lose the lot when they can’t service the mortgage repayments and the equity they had in the house is wiped out as the house value falls to BELOW the purchase price, as often happens in a severe recession ?

    BTW, I don’t know about your part of the world where \$80K gets you a house in a nice suburb.

    I live in Sydney and the median house price here is a ‘tad’ more than that figure:

    https://www.abc.net.au/news/2022-01-27/sydney-median-house-price-increases-but-growth-expected-to-slow/100785706

    The headline of that article begins: ‘Sydney’s median house price now just over \$1.6m’.

    That’s AUD \$1.6 million (which is over USD \$1.1 million).

    And there’s a very good reason for that. Ultra low rates have resulted in people qualifying for huge loans that they would not remotely have been eligible for in the past, thus CREATING A SPECULATIVE BUYING FRENZY driven by wealthy INVESTORS (many of whom had a multiple house property portfolio), that has driven up home prices to unsustainable levels.

    Absent these low rates, home prices would be far, FAR lower.

    Bottom Line: The low mortgage rates are RESPONSIBLE for first home buyers, young couples and low income earners being priced out of the property market.

    • Replies: @Sam Hildebrand
  262. Your statement ” Rothbard got it right” seems to dismiss the importance of timing in economic predictions. Before the 2008 crisis, I purchased put options on Countrywide Mortgage. The options expired worthless before Countrywide’s stockprice collapsed. I was “right” in the long run that Countrywide’s business model of subprime mortgages (high interests rates to high credit risk borrowers, the real cause of the 2008 crisis) was stupid, but my timing was off a few months. Rothbard’s timing was off a few decades. As Keynes said “in the long run we are all dead.”

    Your statement:

    “SUCCESS should be measured in terms of:
    CAN THESE PEOPLE SERVICE THE LOAN LATER WHEN INTEREST RATES TICK UP as they inevitably do and keep doing so for decades until the loan is PAID OFF ?”

    ignores fixed rate home loans, which makes your point moot.

    I completely agree with you that free enterprise is more efficient at allocating resources than government, the invisible hand and all. But that is not the reality of our current system. Government continues to overreach and spend out of control. The reappearing of stagflation is of real concern, and the US govenment’s actions may have finally overwelmed the Feds limited ability to hold it all together.

  263. @Charles Pewitt

    Not all baby boomers are treasonous, myself among them since I vote for third parties and made sure I voted for Pat Buchanan, and Ross Perot when it mattered.
    As for hiking up interest rates, I’d love to see that and I agree to hell with the baby boomers. But do remember, when interest rates go up, crypto goes down, and all the kids that are overleveraged in crypto will be selling their Teslas and moving into cardboard boxes under the overpass.
    Likewise, when the boomers go broke, that means their children will inherit nothing. So the young innocent generations that were betrayed by the boomers, they’ll get theirs too, but some will have enough for more tattoo’s, piercings and hair dye.

  264. @Truth Vigilante

    Sidney’s house prices are a mess. Same issue here in metropolitan areas.

    Fortunately in rural America reasonable starter houses are still available for couples who want to raise their kids in peaceful neighborhoods with quality schools. They will take a pay cut moving out of the city, but the improved quality of life will be worth it. Check this gem out:

    https://www.realtor.com/realestateandhomes-detail/204-Lincoln-St_Pulaski_IA_52584_M86267-48914?ex=2941422528

    • Replies: @Truth Vigilante
  265. Ethyl says:

    Lol, thanks to Andrew for getting to the heart of the matter once again. 8 point something percent my a** – the value of a dollar is so much less than it was in the 70’s, I just know intuitively it’s worse.

    Greg Mannarino expresses in a similar vein to Peter S. The Fed keeps printing to inflate, to buy up all the debt so they are the owners of it all. They can own the reset then – to create a digital dollar that they control, that tracks each person’s expenditures, and then controls individual purchasing power. Oh, what you didn’t elect to get the latest booster shot? Well, negative 10 social credits to your account, and no more than 1 quart of milk a month. Sorry, no calcium for YOU!

    You can smell this in the wind. If people want to riot over Roe vs Wade this summer, guess they’re gonna riot; but imagine a whole lot of people will join in just cuz they’re collectively angry about the fkg real rate of inflation.

  266. @Sam Hildebrand

    Thanks for that link to that \$80K home. It certainly appears good value if it’s a nice town and jobs are available.

    You could probably get something comparably priced here in Australia but you’d have to go to some remote townships with poor job prospects.

    That said, you’re right – it’s not all about money. If you can learn to live modestly, quality of life in a little town is a good option to raise your kids and even better if you’re a retiree.

    • Replies: @Sam Hildebrand
  267. @Truth Vigilante

    I used to work is this area (NE MO, SE IA) as a sales rep. Nice people, pretty country. Most jobs ag related plus rural schools always looking for teachers.

  268. Alrenous says: • Website
    @Truth Vigilante

    Macroeconomics is easy: that there will be a collapse, for Austrian reasons, is indisputable.

    Microeconomics is hard: when there will be a collapse is far from known. After the collapse you’ll be able to pinpoint the exact causes and explain why any false Austrian predictions were false. E.g. one major driver of American prosperity is printing money. 75% of USD are owned outside America, which means the Cantillon effect jacks poor morons in China and Honduras rather than poor morons in e.g. the Appalachians. Thus the predictions that said there would be collapse in the 70s were forestalled when they took the boot to the gold standard.

    Similarly when the Eccles Building prints money it’s lazy and spends it in America, meaning regular Americans can use the less-Cantillon’d dollars to buy imports from foreigners getting the more-Cantillon’d dollars.

    Luckily for America, the longer the reckoning is pushed back, the worse the debt, and the harder the sudden stop at the end will be. Will DC’s population drop by 90%, like Rome’s did? I wonder how many begged to be enslaved by wealthy country landowners, and how many actually starved to death (or were shanked for their loaf of bread).

    • Replies: @Truth Vigilante
  269. SBaker says:
    @Sparkon

    I have a similar history, but mine were raised in rural areas and life was a damn site harder then. My family here in the US goes back to early 18th century and the men served in all the wars from the revolutionary forward–several are buried in various places. My parents lived through the 1930s depression and 1934 and 1936 were incredibly hot, dry, and all struggled through by sleeping in cellars, wetting their sheets, to cool a bit when temperatures near 90 at midnight were prevalent in the Midwest. All wells dried up; my mother’s family lived close to the Mississippi River, where they drove a team of horses with barrels loaded in the wagon to fill with water, twice a day for the livestock, washing, and drinking from the small stream of water that was once a mighty river.

  270. @Alrenous

    You wrote:

    Thus the predictions that said there would be collapse in the 70s were forestalled when they took the boot to the gold standard.

    In fact, you’ve got it arse backwards.

    Giving the boot to the Gold Standard RESULTED in the stagflation, high unemployment and MASSIVE deterioration in the purchasing power of the USD in the 1970’s.

    Only the courageous action of Fed Chairman Paul Volcker in jacking up the Fed Funds rate to 20% saved the USD and broke the back of inflation.
    Any other course of action would’ve seen the U.S descend into the ‘Weimar Germany’ abyss.

    Had the U.S stayed on a Gold Standard, there may have been a short and sharp correction due to the excesses and profligacy of LBJ’s Guns and Butter fiasco of the 1960’s but it would have been over and done with quickly and the U.S could then have resumed a sustainable growth trajectory as said Gold Standard would have enforced FISCAL and MONETARY discipline thereafter.

    So Mr/Ms Alrenous, I suggest you trash those Keynesian and Marxist sources of yours that speak of ‘false Austrian predictions’.
    The adherents of the Austrian School got it right then and they’re getting it right now.

    I suggest you pay heed to what they’re saying, otherwise you may well be rendered destitute in the coming inflationary depression.

    • Replies: @Alrenous
  271. Meanwhile, seeing as this thread is titled ‘Highest Inflation Since 1981 …. ‘, and this is economy related, here is something not entirely off topic seeing as it relates to the economic outlook – that of Australia’s.

    [MORE]

    We’re having a Federal election in Australia today, and there has been a tsunami of voters who have been polled stating they’ll be abandoning the major parties.
    If the election is not rigged, this may well be a pivotal moment in western politics.

    This will have implications for all countries that, like Australia, have a Zio controlled duopoly as the ruling establishment.
    In fact, Australia (like the U.S, U.K. Canada and others), has a ONE PARTY TYRANNY.

    This ‘One Party’ arrangement in Australia consist of two factions, the LNP and the Labour Party, which offer slightly differing policies but are effectively subservient to the same Zio puppet master.
    In other words, much like the U.S where, no matter whether the GOP or the Dems win, in the end it is the WAR PARTY that rules.
    That entails more billions thrown at the Apartheid Israeli state.
    That entails more wars for Israel in pursuance of Israeli hegemony in the Middle East.
    That entails more of the surveillance state, more losses of individual liberty and more vaxx mandates/lockdowns/societal destruction if and when the next pandemic is announced.
    That entails more corporate welfare, more endless money printing and budget profligacy.

    Australia, unlike the U.S, has a proportional/preferential voting system.

    In 0ther words, unlike the U.S where the winner in a particular state gets ALL of the electoral votes, in Australia when a party gets say 5% of the vote, their representation in parliament will be 5% (give or take).
    This is particularly true in the Senate – less so in the lower house (our House of Representatives).

    Bottom Line: People are shunning the major parties in droves and opting for the minor parties – many of whom have campaigned on NEVER AGAIN allowing lockdowns, vaxx mandates and medical tyranny, among other things.

    One of the major parties will still ‘win’ and form government.

    However, if they can’t get a majority to rule on their own and many lower house seats go to some of the minor parties, they will be FORCED to form a minority government with the smaller parties and thus won’t get their way in terms of the ZIO agenda.

    The following words are from an ex-New Zealand ex-pat called James O’Neill that has been living in Australia for over twenty years:

    ‘The latest polls suggest that only a third of the electorate will give either of the two main contenders their primary support.

    This means that regardless of which party emerges the winner they will do so with two-thirds of voters not supporting them as their first choice. In the 20 years I have been observing general elections in this country I cannot recall any other election marked by such a scale of disillusionment. A plague on both your houses seems to be the most widely held consensus’.

    This election has tremendous implications for all other western nations.
    If it’s not totally rigged and we observe a COLOSSAL turnout for the minor parties, it will DEMONSTRATE that PEOPLE POWER can do likewise in the U.S, U.K, Canada and wherever else a duopoly/One Party Tyranny rules.

    In other words, WE THE PEOPLE are speaking and saying:
    ‘We’re not satisfied with the ruling establishment and all of you are ON NOTICE. We’re wise to the One World Government/ZOG agenda and we want no part of it’.

    Wish us well UR readers. What happens in Australia could usher in a seachange for the world.

    • Replies: @peterAUS
  272. Alrenous says: • Website
    @Truth Vigilante

    I regret reading this hallucinatory denunciation. Really creamed that straw man, at least.

  273. peterAUS says:
    @Truth Vigilante

    And, dear readers, as some of us spoke about before, the result of the elections is…..well, as a couple of us here expected. When we said that we were called all sorts of names. That was fine then, it’s fine now, and it will be fine in the future.
    So, as for

    …there has been a tsunami of voters who have been polled stating they’ll be abandoning the major parties….

    a couple of us got (expected) confirmation that what people say is one thing; what they actually do is often quite another.

    If it’s not totally rigged and we observe a COLOSSAL turnout for the minor parties, it will DEMONSTRATE that PEOPLE POWER can do likewise in the U.S, U.K, Canada and wherever else a duopoly/One Party Tyranny rules.

    Feels good; (un)fortunately the evidence points otherwise. Ah, yes, then it must’ve been rigged. That’s fine too.

    …What happens in Australia could usher in a seachange for the world…..

    Y….e……a………h……….

    • Replies: @Truth Vigilante
  274. @peterAUS

    You wrote:

    what people say [when polled] is one thing; what they actually do is often quite another

    Unfortunately, that appears to be what happened. A lot of people are/were dissatisfied with the major parties but, once in the polling booth, they thought to themselves that a vote for a minor party is a wasted vote seeing as they’ll never win outright.
    So, in the end, they decided to vote for the ‘least worst’ of the major parties.

    But there is much to take away from this result.

    Firstly, this statistic:

    Labour’s primary vote of 32 percent was lower than it achieved when it lost the 2019 election, while the coalition scored 35 percent.

    That’s right. The Labour Party won the election with a LOWER PERCENTAGE of the primary vote than in the election it lost 3 years ago.
    As one commentator put it: ‘That says a lot about the upheaval that’s taking place in our nation’.

    The LNP, despite losing the election, got 35% of the primary vote.
    Of course, the LNP lost because of Australia’s preferential voting system, whereby a vote for the Greens was a defacto vote for Labour. (After all, the Green Party is just a subsidiary of Labour and has long ago been infiltrated with rabid leftists from the Labour party).

    The fact that Labour got a lower primary vote than last time, which itself was a low hurdle to to overcome historically, is PROOF that most people are turning away from them.
    This didn’t translate into a lot of seats won in the lower house by the minor parties (although there are more independents that won lower house seats than ever before), once the results in the Senate become known I believe there will be greater representation there from the minor parties.

    Another positive take away: The Deputy Prime Minister, Josh (I’m-a-Rabid-Zionist) Frydenberg, lost his own seat in parliament so we won’t be seeing his ugly melon in Canberra.
    That’s something to rejoice about.

    • Replies: @peterAUS
  275. peterAUS says:
    @Truth Vigilante

    A lot of people are/were dissatisfied with the major parties but, once in the polling booth, they thought to themselves that a vote for a minor party is a wasted vote seeing as they’ll never win outright.
    So, in the end, they decided to vote for the ‘least worst’ of the major parties.

    That’s one of the reasons.
    There is another, and more important. Sam Francis wrote about it, among some other people.

    The fact that Labour got a lower primary vote than last time, which itself was a low hurdle to to overcome historically, is PROOF that most people are turning away from them.
    I believe there will be greater representation there from the minor parties.

    Doesn’t do a thing, for real life, ahead of us.
    The executive power (and that’s all which really matters) is still in the hands of The Uniparty.

    That’s something to rejoice about.

    Whatever works to lift spirits in these interesting times. I prefer fishing and swimming.

Current Commenter
says:

Leave a Reply - Comments on articles more than two weeks old will be judged much more strictly on quality and tone


 Remember My InformationWhy?
 Email Replies to my Comment
$
Submitted comments have been licensed to The Unz Review and may be republished elsewhere at the sole discretion of the latter
Commenting Disabled While in Translation Mode
Subscribe to This Comment Thread via RSS Subscribe to All Andrew Anglin Comments via RSS
PastClassics
Becker update V1.3.2
The Surprising Elements of Talmudic Judaism
Analyzing the History of a Controversial Movement