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If you have not yet reached forty years of age, you had not until this last month experienced the rate of consumer price increases Americans experienced in April. We have to journey all the way back to 1981 for that. How, with the labor force participation rate so low and so many jobs unfilled, can the prices of everything–including wages–be rising? Stagflation isn’t supposed to happen, especially not with so much supposed slack in the labor market!

Get used to it because things are just getting started. We’ve grown accustomed to ever-increasing debts, deficits, and asset price increases. Those things aren’t so bad.

For a lot of people, in fact, they’re quite good. They’re raising the debt ceiling again, the trade imbalance with China is getting ‘worse’, yada yada yada. Sounds like I can get a house and stuff to put in it with no money down and almost no money coming in. And you’re upset about this?

We’re now entering a period when the price increases will be concentrated in services and in non-durable goods. It’s not just buying a home that will be expensive. Buying a gallon of milk and subscribing to that streaming service are going to get expensive, too.

 
• Category: Economics, History • Tags: Economics, Finance 
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  1. Anonymous[857] • Disclaimer says:

    • Replies: @Nikolai Vladivostok
    @Anonymous

    That's an inflection point: funny dating blogger is now giving out sounder economic information than the government.

  2. A land populated by increasingly inferior races, embracing an ideology that openly worships blacks (the most inferior of all races) and other lunacies, increasingly by run by sociopaths and psychopaths. No doubt somebody here is going to write a comment on how it is not wise to bet against America, that the magic dirt protects it from all ills.

    • Replies: @anonymous
    @neutral

    Racially Texas and California are 40 years ahead of the rest of the US in racial transformation. Both states are fine economically.

    Replies: @songbird

    , @Mulga Mumblebrain
    @neutral

    Thank God there are still some deranged racists left, to hold up the banner of White Supremacy.

  3. I’ll be 70 in six months so inflation is terrible news for me. I had everything nicely balanced with a CPI under 2% but anything above that is a tax on me to subsidize Wall St leverage and deadbeat debtors. The only place I can cut back on is dining out and travel so for those restauranteurs and hospitality industry businesses looking to reopen you might not want to bother.

    Powell seems to think I should appreciate my home value going up but I have to live somewhere so its of no use to me if my paid for house is worth $50,000 more if the house I would need to buy goes up by the same. In fact, factoring in transaction costs and moving expenses its a net negative.

    I earn almost nothing on my savings now so my income is reduced. I went to a McDonalds for the first time in long time. A Big Mac, fries and drink costs almost $10. With the wage increases McDonalds just announced I assume it will be more like $12 dollars in a year. Gas has gone up almost 20% in the past week. I don’t drive a lot but I’ll drive even less if those costs don’t come back down and that’s not likely with Biden in the White House. The only bright thing has been medical and auto insurance. They didn’t go up in the recent past thanks to covid but that might be a on time event.

    I guess I have to get used to the fact that the ‘system’ can’t wait for me to die to extract my wealth. Biden and his parasites need it now.

    • Thanks: V. K. Ovelund, TomSchmidt
    • Replies: @Chrisnonymous
    @UNIT472


    I went to a McDonalds for the first time in long time. A Big Mac, fries and drink costs almost $10
     
    The trick with McDonalds is to get just the regular hamburgers. You can get two for about $2, then take the beef patty, pickles, and onions off one and put them on the other and throw away the second bun (which is just sugar masquerading as food anyway). Then you've got one decent-sized burger for $2. The cola is really bad for you, and the french fries usually aren't worth it (you regret them), so you can get the side salad for another dollar or two. Here in Japan it's popular to drink coffee with hamburgers. I don't know how that got started, and I was revolted at first, but now I kind of like that combo too. McDonalds coffee is much better these days than it used to be, so you can add that for another dollar. Then you've got a decent meal for about $6--half the price of your Big Mac meal and healthier to boot.

    My father is in his 70s. He retired in 2019, has spent all his retirement time in lockdown, and will now probably see all his retirement finances go to shit. He and my mother basically just use the Internet and occasionally get takeout pizza or a steak. If they can't do that anymore, they'll have a pretty sad life for the next 10-20 years.

    I feel bad for people in your age bracket, although to be honest, my prospects don't look good either.
    , @Audacious Epigone
    @UNIT472

    There are a lot of fat 401(k)s out there. It's a tempting target to... uh, satisfy the needs of social justice.

  4. 1981 and interest rates were 19%— ? Some governments are going to have to juggle matters if interest rates jump up there again —….

    • Replies: @Charles Pewitt
    @GomezAdddams

    1981 and interest rates were 19%— ? Some governments are going to have to juggle matters if interest rates jump up there again —….

    I use 20% -- twenty percent -- for what the JEW/WASP Ruling Class of the American Empire got the federal funds rate up to around 1981 and the plot and the scheme was to blow out the then current asset bubbles and go on a massive debt binge to coincide with the maturation of the baby boomer generation.

    Sounds sneaky?

    Ruling Classes are nothing if not snaky in an entertaining way. The British Empire was created in a fit of absentmindedness? NONSENSE! Some sneaky people in the English ruling class knew what they were doing all along.

    Hey 19 and Twenty Nine Palms; somewhere between the two the tall guy at the Fed got the Fed funds rate to twenty percent in 1981.

    Reagan the whore boy for the ethnic organized crime syndicate out of Illinois ballooned the US federal debt and that treasonous scumbag Reagan pushed financialization and globalization and de-industrialization and multicultural mayhem and an amnesty for illegal alien invaders that amped up the attacks on the European Christian ancestral core of the USA.

  5. It’s almost as if there are real world consequences to creating trillions of dollars in fiat currency.

  6. TG says:

    OK sure creating lots of fiat currency is perhaps not the path to utopia, but…

    Never forget physical reality. The rich continue to jam in ever more people, and we are not investing in creating more farmland, or factories, etc. (And things like fresh water we really can’t make, at least not in large amounts for agriculture, not economically).

    If anything we are dis-investing, still shipping our industries overseas.

    Bottom line: more and more people, less and less production, the average person is going to lose no matter what the federal reserve does or does not do with the money supply.

    • Agree: RadicalCenter
  7. Inflation encourages a “live for today” mentality. Low interest rates encourage people to borrow and spend instead of save and invest. The rapid decline in the value of money encourages people to spend it today since it will be worth less tomorrow. Future oriented people who think about tomorrow are punished while present oriented people who think only about today are rewarded.

    Edward Banfield in his book The Unheavenly City talked about how the difference between the inner city underclass and the middle class is that the former are present oriented whereas the latter are future oriented. If you have ever spent much time around the underclass you know that most of them spend any extra money they come into as soon as they get it, usually on conspicuous consumption, rather than spending it in ways that will make them better off in the future such as investing it or using it to get an education. The ones who are not like this usually don’t stay poor in the long run.

    Politicians who support current inflationary policies are supporting the values of the underclass and are attacking middle class values. Class here is not the same thing as income. Many of the politically connected crony capitalist rich also support these policies. The division is between present oriented and future oriented, not between rich and poor.

    • Replies: @Rahan
    @Mark G.


    Politicians who support current inflationary policies are supporting the values of the underclass and are attacking middle class values
     
    They are purposefully dismantling all the safeguards that made a middle class possible (the nuclear family, shared heritage, shared culture, stable employment, stable gender roles), because the new social order they seeks is a tiny elite, underneath which is a smallish manager-caste (preferably imported from elsewhere at to have loyalty only to each other and their masters), and a huge underclass that is utterly dependent on the system.

    It's not accidental. In 2019 I thought there's still 10-15 years before endgame, but now with the viral pneumonia thing, they've accelerated everything brutally. Maybe Trump (his supporters that is) also forced their hand. So what was supposed to happen circa 2030+, is being rushed in now.

    Fun times. If the parasites and predators fail, it's because they were forced to start earlier, before the current "illusory white majority" and "illusory normality majority" consisting of elderly whites died out, and the new demographic and cultural reality prepared by globohomo fully takes over.

    So, even if they did nothing else, hats off to Trump's peasant supporters for forcing globohomo into moving toward endgame before being 100% ready.

    Replies: @PetrOldSack

  8. @GomezAdddams
    1981 and interest rates were 19%--- ? Some governments are going to have to juggle matters if interest rates jump up there again ---....

    Replies: @Charles Pewitt

    1981 and interest rates were 19%— ? Some governments are going to have to juggle matters if interest rates jump up there again —….

    I use 20% — twenty percent — for what the JEW/WASP Ruling Class of the American Empire got the federal funds rate up to around 1981 and the plot and the scheme was to blow out the then current asset bubbles and go on a massive debt binge to coincide with the maturation of the baby boomer generation.

    Sounds sneaky?

    Ruling Classes are nothing if not snaky in an entertaining way. The British Empire was created in a fit of absentmindedness? NONSENSE! Some sneaky people in the English ruling class knew what they were doing all along.

    Hey 19 and Twenty Nine Palms; somewhere between the two the tall guy at the Fed got the Fed funds rate to twenty percent in 1981.

    Reagan the whore boy for the ethnic organized crime syndicate out of Illinois ballooned the US federal debt and that treasonous scumbag Reagan pushed financialization and globalization and de-industrialization and multicultural mayhem and an amnesty for illegal alien invaders that amped up the attacks on the European Christian ancestral core of the USA.

  9. @Mark G.
    Inflation encourages a "live for today" mentality. Low interest rates encourage people to borrow and spend instead of save and invest. The rapid decline in the value of money encourages people to spend it today since it will be worth less tomorrow. Future oriented people who think about tomorrow are punished while present oriented people who think only about today are rewarded.

    Edward Banfield in his book The Unheavenly City talked about how the difference between the inner city underclass and the middle class is that the former are present oriented whereas the latter are future oriented. If you have ever spent much time around the underclass you know that most of them spend any extra money they come into as soon as they get it, usually on conspicuous consumption, rather than spending it in ways that will make them better off in the future such as investing it or using it to get an education. The ones who are not like this usually don't stay poor in the long run.

    Politicians who support current inflationary policies are supporting the values of the underclass and are attacking middle class values. Class here is not the same thing as income. Many of the politically connected crony capitalist rich also support these policies. The division is between present oriented and future oriented, not between rich and poor.

    Replies: @Rahan

    Politicians who support current inflationary policies are supporting the values of the underclass and are attacking middle class values

    They are purposefully dismantling all the safeguards that made a middle class possible (the nuclear family, shared heritage, shared culture, stable employment, stable gender roles), because the new social order they seeks is a tiny elite, underneath which is a smallish manager-caste (preferably imported from elsewhere at to have loyalty only to each other and their masters), and a huge underclass that is utterly dependent on the system.

    It’s not accidental. In 2019 I thought there’s still 10-15 years before endgame, but now with the viral pneumonia thing, they’ve accelerated everything brutally. Maybe Trump (his supporters that is) also forced their hand. So what was supposed to happen circa 2030+, is being rushed in now.

    Fun times. If the parasites and predators fail, it’s because they were forced to start earlier, before the current “illusory white majority” and “illusory normality majority” consisting of elderly whites died out, and the new demographic and cultural reality prepared by globohomo fully takes over.

    So, even if they did nothing else, hats off to Trump’s peasant supporters for forcing globohomo into moving toward endgame before being 100% ready.

    • Replies: @PetrOldSack
    @Rahan

    Brainy comment, adding to the author note, by painting the larger context. Start to bottom of the comment.


    They are purposefully dismantling all the safeguards that made a middle class possible (the nuclear family, shared heritage, shared culture, stable employment, stable gender roles), because the new social order they seeks is a tiny elite, underneath which is a smallish manager-caste (preferably imported from elsewhere at to have loyalty only to each other and their masters), and a huge underclass that is utterly dependent on the system.
     
    Yes, as much for me, a straight line is being drawn between the surplus, excess population and the "Ones Worthy of Living", the "Chosen Ones", the "Credible Ones", the "Elites", the "Blessed Ones"(privilege), where a "Dollar" is not to buy bread, but a Billion is social leverage. Where time is inherent, as population counts and migrations to any economic equation for the few insiders strategizing.

    It’s not accidental. In 2019 I thought there’s still 10-15 years before endgame, but now with the viral pneumonia thing, they’ve accelerated everything brutally. Maybe Trump (his supporters that is) also forced their hand. So what was supposed to happen circa 2030+, is being rushed in now.

     

    This sense of urgency does not escape me, but might escape some others, there is always a sweet spot, it is waning, the Chinese elites and the cluster around Putin, surf the tide, as another consequence of a hand being forced into abrupt initiation. The globos are mastered in being parasited themselves.

    Then there is a slight probability of an internal collapse of the elite circles themselves, do they harness enough make known, and less importantly so, less make do, as they estimate. After all, elites come down when opportunistic infighting for the short term draws conflict lines. A little push of the uncontrolable hinterland, (the letter of some military men as an example this week).

    Note: "viral pneumonia", or the part outside the social engineering, and the "who has done it" part, the medical parameter pointed at, to be called rather "virtual pneumonia"

    Fun times. If the parasites and predators fail, it’s because they were forced to start earlier, before the current “illusory white majority” and “illusory normality majority” consisting of elderly whites died out, and the new demographic and cultural reality prepared by globohomo fully takes over.

     

    The seventy year old has but few trump cards as his internalized emotional digest of formal knowledge over the timeline of these seventy plus years (there are some left-overs of oral history from parents and elderly grandparents maybe in the traditional middle classes of lore). They must and can be the disturbance incubator. When one sees what Ron Unz get away with in his painted (or mostly not) Covid contexting, the here and few cranny and daring seventy year olds are an addition to the defense of Berlin. An essential asset.

    So, even if they did nothing else, hats off to Trump’s peasant supporters for forcing globohomo into moving toward endgame before being 100% ready.
     
    Correctly, the former is main credit to bestow on the Trump interlude!

    Thanks for your comment, it is nice to get out of the chit-chat threads of hooking into details before painting a larger context to the problem. After all, "Anything Goes" (Benett and Lady Gaga version), is easy when the envisioning is troubled by smoke.
  10. The sleazy sleazebags in the ruling class of the rancid Republican Party and that fat ass baby boomer cunt Trump are pulling stunts of such a grotesque nature that I find myself busting out with laughter from a Tweet by some some Harvard sonofabitch!

    https://twitter.com/Vermeullarmine/status/1392578625829052419?s=20

  11. The asset bubbles in stocks and bonds and real estate are bubbling and they will soon POP.

    There is no such thing as capitalism; there is only globalized central banker shysterism.

    Implode the asset bubbles and financially liquidate the globalizer plutocrats and financially liquidate the Upper Middle Class Snot Brats.

    Central banks created the asset bubbles and tapering the monetary extremism of the globalized central banks will implode the asset bubbles.

    • Replies: @Catdog
    @Charles Pewitt

    Where is it going to pop to? Every other asset is inflated too and nobody wants to be stuck holding cash.

    When I got into crypto a few years ago, I said that if I ever grew my stack to $200k I would sell it all and buy a house. Now that it's there, housing has gone up so much that it wouldn't be a very nice house anyway. If I sell the crypto now, the fiat might be inflated away and housing prices might never come down. If I hold the crypto, the crypto market might crash and the housing, again, might never come down. I wish I knew what to do.

    I think other savings-oriented people are wondering the same thing.

    Replies: @Mark G., @Audacious Epigone

  12. @Charles Pewitt
    The asset bubbles in stocks and bonds and real estate are bubbling and they will soon POP.

    There is no such thing as capitalism; there is only globalized central banker shysterism.

    Implode the asset bubbles and financially liquidate the globalizer plutocrats and financially liquidate the Upper Middle Class Snot Brats.

    Central banks created the asset bubbles and tapering the monetary extremism of the globalized central banks will implode the asset bubbles.

    https://twitter.com/NorthmanTrader/status/1393203699523244032?s=20

    https://twitter.com/NorthmanTrader/status/1393180450601021440?s=20

    https://twitter.com/NorthmanTrader/status/1392903458680938497?s=20

    Replies: @Catdog

    Where is it going to pop to? Every other asset is inflated too and nobody wants to be stuck holding cash.

    When I got into crypto a few years ago, I said that if I ever grew my stack to $200k I would sell it all and buy a house. Now that it’s there, housing has gone up so much that it wouldn’t be a very nice house anyway. If I sell the crypto now, the fiat might be inflated away and housing prices might never come down. If I hold the crypto, the crypto market might crash and the housing, again, might never come down. I wish I knew what to do.

    I think other savings-oriented people are wondering the same thing.

    • Replies: @Mark G.
    @Catdog


    If I sell the crypto now, the fiat might be inflated away and housing prices might never come down. If I hold the crypto, the crypto market might crash and the housing, again, might never come down. I wish I knew what to do.
     
    Gold is normally considered a safe store of value. It hasn't started going up so far because there is still a general belief the Fed will raise interest rates if inflation gets out of control, as Volcker did forty years ago. It's not likely to happen, though, because the situation is much worse now. The government has run up a huge debt and can't afford to pay high levels of interest on that debt. The massive stock bubble would also collapse. All the woke capitalists like Zuckerberg or Bezos who have a majority of their wealth coming from these stock price increases have a lot of influence in Washington and would oppose this.

    Once everyone realizes the Fed is going to do nothing to stop inflation you should see gold and silver going up. Very recently international stock prices have been going up faster than U.S. stock prices as it becomes obvious the long term economic prospects of the U.S. are not good. Countries that will be the best off will be European countries that didn't adopt the euro, countries with lots of natural resources and a relatively small population, and countries which pursue free market policies with low levels of taxes, regulation and government spending.

    , @Audacious Epigone
    @Catdog

    I wish you'd sold at the time of that posting and bought the house!

  13. res says:

    The mystery to me is how stable the current environment of increasing inflation and historically low interest rates is.

    Currently the doctrine is something like this (emphasis mine).
    https://www.quickenloans.com/learn/federal-funds-rate

    When Does the Fed Change Interest Rates?

    When the Fed wants to stimulate the economy, it will lower the short-term funds borrowing rate. In response, banks typically lower the interest rates they charge to consumers for a variety of loans. This encourages borrowing and helps stimulate the economy because you’re able to more easily get financing for big purchases like homes and cars. Lower rates also encourage businesses to borrow money to expand and build, which stimulates the economy.

    However, there’s a flipside to this. If it’s cheaper to borrow money, this means the money you do have in the bank is worth less in comparison to a time when you might be receiving a higher interest rate. This can also lead to inflation because if money is worth less, it’s going to take more of it in order to purchase the things we want and need.

    A little bit of inflation can be a good thing because it encourages people to buy now before the price goes up. However, you want to keep inflation relatively low because you don’t want things getting out of control to the point where you’re spending $20 on a carton of eggs. For that reason, interest rates can’t stay artificially low forever.

    The fed funds rate is the Fed’s way of keeping a finger on the inflation scale.

    This reminds me of the 1970s and stagflation.
    https://en.wikipedia.org/wiki/Stagflation

    In the version of Keynesian macroeconomic theory that was dominant between the end of World War II and the late 1970s, inflation and recession were regarded as mutually exclusive, the relationship between the two being described by the Phillips curve. Stagflation is very costly and difficult to eradicate once it starts, both in social terms and in budget deficits.

    Stagflation was what happened when the Keynesian model was pushed to the limit and the assumed relationship between inflation and recession broke down.

    What happens when the MMT model is pushed to the limit? I suspect we will find out. More realistic interest rates coupled with the current debt load (both government and consumer, see PS) could become ugly.

    This links to a plot of the fed funds rate and CPI (and their difference) from 1958 to the present. I will try to embed the image as well, but suspect that won’t work.
    https://fred.stlouisfed.org/graph/?g=E1Ij

    Notice how the FFR – CPI took a substantial dip in April from -1.6 to -2.9. There have only been two times in the last 63 years it has been that low. In March 1975 it reached -5.8 and in June 1980 it reached -4.1.

    Another interesting aspect of that graph is how ahistorical the steady value of around -2 during Obama’s second term was.

    P.S. Here is a plot of Federal and household debt as a percentage of GDP. Don’t know why the household series only goes back to 2005 when a dollar value version (CMDEBT) goes back to 1945 (might be worth downloading that data and computing GDP ratio).
    https://fred.stlouisfed.org/graph/?g=E1Kt
    Notice that federal debt went from 61% to 99% during Obama’s first term. Truly impressive. The only thing similar was WWII (even worse). Notice how the federal debt was only a little over 30% during the 1975 and 1980 points mentioned above. High interest rates are very different with that amount of debt compared to the 106% of 2019. Not to mention the around 130% values we see in 2020. I don’t see the 2020 values with the above link, so here is the actual series through Q4 2020.
    https://fred.stlouisfed.org/series/GFDEGDQ188S
    We are going to be paying for the COVID-19 debacle for a long time.

    • Replies: @Audacious Epigone
    @res

    More realistic interest rates coupled with the current debt load (both government and consumer, see PS) could become ugly.

    That's an understatement to put it mildly. It will become absolutely hideous, a horror show. People will be upside down on cars, houses, and every other financed purchase you can think of.

  14. “Powell seems to think I should appreciate my home value going up but I have to live somewhere so its of no use to me”

    it’s of HUGE value to the 20 million assholes in California and New York who can now sell their house for a big profit, move to another state and buy an even bigger, newer house for less money, and pocket the difference.

    this explains like 50% of what is happening in the entire country.

    massively inflating housing prices is an AWESOME deal for the 5 million Democrat voters eyeballing your state. there’s never been a deal this good in the history of the country. for them. the people wrecking everything.

    • Agree: Sick of Orcs
    • Replies: @Daniel H
    @prime noticer


    it’s of HUGE value to the 20 million assholes in California and New York who can now sell their house for a big profit, move to another state and buy an even bigger, newer house for less money, and pocket the difference.
     
    This is precisely the game-plan out here in Las Vegas, where I live. So many leaving the Bay Area with a nice stash and putting it down on a 3,000-4000 sf house. But what's the real gain, though? Las Vegas is a cultural/economic/spiritual wasteland.

    Buy farmland, good agriculture or grazing land or even a vast expanse of unproductive wilderness. The country is still going to go down, but you won't notice it as much out in the sticks.
  15. “We have to journey all the way back to 1981 for that”

    i experienced it in person. it was crazy seeing the price of everything go up 10% every year. the only thing that didn’t seem to change was in the arcade, where a game cost a quarter last year, this year, next year, and the year after that. the video game guys were really physically constrained by the mechanics of the machines, which is probably the only thing that prevented them charging more.

    although i ascribed this era of inflation mainly to going off the gold standard. Volcker was still in charge, it was the last few years of genuine WASP control, the jews weren’t fully in control of the financial system quite yet, and the money printing hadn’t begun in earnest yet. Greenspan would start the printing in earnest in the late 80s. and we’ve been under near total jewish financial control since. that was actually when a few arcade machines started charging 2 quarters to play.

    this current financial situation is not a coincidence. jews are using the system to enrich themselves and their financial friends. they have no long term stake in the nation and will bail if things get too bad. and once the money printing starts, no President can afford to turn it off. guaranteed one term if they do.

    this is the EXTREME danger of UBI. the worst idea in the history of mankind. it’s already responsible for one of the worst jobs reports in US history. and that’s just one month of paying people to not work.

    • Replies: @A123
    @prime noticer


    no President can afford to turn it off. guaranteed one term if they do.... it’s already responsible for one of the worst jobs reports in US history. and that’s just one month of paying people to not work.
     
    Biden is an Elite Catholic, so there is another group you need to blame in addition to the others. Or, you could just blame Elites, without attributing them to a group. That would be easier & in most ways more accurate.

    Getting beyond that... A number of things you point out about the economics is correct.

    Paying people not to work is a fiasco. It is strangling business that use entry level workers. With unknown numbers of customers, "tips" based jobs are also unattractive vs. taking the guaranteed money. There needs to be a predictable and sizable step between "working for pay" and the much easier "paid not to work".
    ______

    It would be a larger more complicated article, but a better headline is:

    Everything Is Going Up Because All Currencies Are Going Down

    Tne global nature of capital creates odd effects between the #1 currency USD and the #2 currency EUR. With EUR at negative interest rates there are huge motivations to transfer wealth EUR/USD as negative interest is effectively a tax.

    The Swiss Franc CHF went through severe problems a few years ago and established currency controls to keep EUR/CHF plays from damaging Swiss exports via over valuation.

    The great unwind from WUHAN-19 policy errors will be much more widespread than the just the U.S. Numerous other nations, many in Europe, are worse off than the U.S.

    PEACE 😇

    Replies: @Getaclue, @Twinkie, @Audacious Epigone

    , @V. K. Ovelund
    @prime noticer

    Not to defend UBI, but ...


    this is the EXTREME danger of UBI. the worst idea in the history of mankind. it’s already responsible for one of the worst jobs reports in US history. and that’s just one month of paying people to not work.
     
    ... UBI pays people whether or not they work. So there is a difference.
    , @Charles Pewitt
    @prime noticer

    this is the EXTREME danger of UBI. the worst idea in the history of mankind. it’s already responsible for one of the worst jobs reports in US history. and that’s just one month of paying people to not work.

    There are other ideas worse than UBI or a Federal Reserve Bank Guaranteed Monthly Income and not taking radical political positions is a worse idea. The Founding Fathers were radicals of a sort though not as radical as the French soon became. France is getting radical again, and that is good.

    William the Conqueror dislodged from power the Saxon Ruling Class of England and that kind of spirit is needed at the moment.

    UBI should be conceived of as a route to political power and not in economic terms.

    I wrote this in August of 2020 about conceiving of UBI as a political weapon to dislodge the ruling class:

    UBI or the Pewitt Conjured Loot Portion(PCLP) is about raw power and who has it. A UBI or PCLP will allow the historic American nation or the European Christian ancestral core the ability to dislodge from power the evil and treasonous JEW/WASP ruling class from power.

    The Pewitt Conjured Loot Portion(PCLP) will pay each American who has all blood ancestry born in colonial America or the USA before 1924 a cool ten thousand dollars a month. The US Treasury and the Federal Reserve Bank shall work together to conjure up the cash out of thin air, just like the ruling class is doing now.

    Sam Francis said it’s all about the ruling classes and Sam was right. A UBI or PCLP will create the conditions whereby tens of trillions of dollars and land and property and licenses and other assets can be severed from the ownership and control of the current corrupt and illegitimate JEW/WASP ruling class members of the American Empire and doled out to the patriotic and honorable old stocker members of the European Christian ancestral core.

    UBI or PCLP is about raw political power; it’s not about economics.

    The ability to control the central bank is the true power and it must be contested by the old stocker members of the historic American nation.

    The Federal Reserve Bank must be nationalized and the JEW/WASP ruling class and its minions must be financially liquidated and its members must be forcibly exiled to a hot and humid and nasty part of sub-Saharan Africa. All this must be done legally, of course.

    William the Conqueror thought he got screwed out of his rightful inheritance, and the JEW/WASP ruling class of the American Empire is screwing over the decent and patriotic members of the old stocker historic American nation. Of course, horrible treasonous sleazebag old stockers like those in the Bush Organized Crime Syndicate are examples of old stocker evil globalizer treasonite ruling class nation-wreckers.

    Repudiate All Debt and Financially Liquidate The Plutocrats And Their Stooges.

    GOD BLESS AMERICA!

    https://www.unz.com/anepigone/shaking-the-money-tree/#comment-4134922

    Replies: @PetrOldSack

  16. @Catdog
    @Charles Pewitt

    Where is it going to pop to? Every other asset is inflated too and nobody wants to be stuck holding cash.

    When I got into crypto a few years ago, I said that if I ever grew my stack to $200k I would sell it all and buy a house. Now that it's there, housing has gone up so much that it wouldn't be a very nice house anyway. If I sell the crypto now, the fiat might be inflated away and housing prices might never come down. If I hold the crypto, the crypto market might crash and the housing, again, might never come down. I wish I knew what to do.

    I think other savings-oriented people are wondering the same thing.

    Replies: @Mark G., @Audacious Epigone

    If I sell the crypto now, the fiat might be inflated away and housing prices might never come down. If I hold the crypto, the crypto market might crash and the housing, again, might never come down. I wish I knew what to do.

    Gold is normally considered a safe store of value. It hasn’t started going up so far because there is still a general belief the Fed will raise interest rates if inflation gets out of control, as Volcker did forty years ago. It’s not likely to happen, though, because the situation is much worse now. The government has run up a huge debt and can’t afford to pay high levels of interest on that debt. The massive stock bubble would also collapse. All the woke capitalists like Zuckerberg or Bezos who have a majority of their wealth coming from these stock price increases have a lot of influence in Washington and would oppose this.

    Once everyone realizes the Fed is going to do nothing to stop inflation you should see gold and silver going up. Very recently international stock prices have been going up faster than U.S. stock prices as it becomes obvious the long term economic prospects of the U.S. are not good. Countries that will be the best off will be European countries that didn’t adopt the euro, countries with lots of natural resources and a relatively small population, and countries which pursue free market policies with low levels of taxes, regulation and government spending.

    • Agree: V. K. Ovelund
  17. The Preppers were right all along.

    Becoming more self-sufficient and de-tethering oneself from the grid as much as possible suddenly looks brilliant.

    If someone can come up with a cheaper way to generate energy and store it at home he’ll be meeting the next great demand.

    • Replies: @V. K. Ovelund
    @beavertales


    If someone can come up with a cheaper way to generate energy and store it at home he’ll be meeting the next great demand.
     
    The storage is the problem. Stored energy tends to be dangerous: it explodes, collapses, hurls debris at high speeds, etc. Even energy stored as biomass makes possible wildfires, insect/vermin infestations, and so on. That is just the thermodynamics of it, unfortunately.

    Propane and other hydrocarbons and alcohols are about the friendliest way to store energy on a small scale, but even then, it's hard.

    Replies: @Twinkie, @iffen

    , @Twinkie
    @beavertales


    The Preppers were right all along.

    Becoming more self-sufficient and de-tethering oneself from the grid as much as possible suddenly looks brilliant.
     
    My family and I have invested in farmland and healthcare/medicine as well as stockpiling lots of guns and ammo. And we have a community of likeminded people.

    Energy is an issue, but if you are smart about it, not as much as it is for water. Potable water is a big concern, and those without access to it will suffer in periods of disruptions. In general, this means bad things for people in places such as California and Colorado while the much wetter Southeast (swampland!) will manage better.

    Also, people don't realize how dependent they are to highly complex, "just in time," (low redundancy) supply chain for all manners of goods, including not just food, but also lifesaving medicine, which keeps literally millions of people alive without much thought today.

    A couple of years ago, an Amazon warehouse on the East Coast was damaged by a tornado and much of the region experienced shipping delays lasting up to several weeks. That was a SINGLE warehouse. A highly complex, "efficient" supply and storage system optimized for extracting every penny is extremely vulnerable to external shocks. That's why governments of yore that had experienced disasters and wars believed in redundancy and procured accordingly. Those days are gone. We are all on our own now - some of you just don't know it yet.
  18. anonymous[358] • Disclaimer says:
    @neutral
    A land populated by increasingly inferior races, embracing an ideology that openly worships blacks (the most inferior of all races) and other lunacies, increasingly by run by sociopaths and psychopaths. No doubt somebody here is going to write a comment on how it is not wise to bet against America, that the magic dirt protects it from all ills.

    Replies: @anonymous, @Mulga Mumblebrain

    Racially Texas and California are 40 years ahead of the rest of the US in racial transformation. Both states are fine economically.

    • Replies: @songbird
    @anonymous


    Racially Texas and California are 40 years ahead of the rest of the US in racial transformation. Both states are fine economically.
     
    If people are leaving your state (CA), it's probably not a good sign. CA also has the highest poverty rate of any state.

    Anyway, there are zones and levels of functionality: local, state, and national. Demographic changes in the smaller ones ultimately fit into the larger ones to reduce total functionality.

    One big difference is that a city or state can't print money, only a country. But there are many other institutions that exist on a national level, like the army, the IRS, and the FBI. When your country turns a certain way, it will affect your neighborhood (whatever its composition) more than the earlier stage when nearby neighborhoods turn a certain way.
  19. anon[123] • Disclaimer says:

    During the previous housing bubble there were fairly reliable stories out of China about people buying physical copper as a store of value. Dunno how that worked out for them when the US housing market crashed and copper dropped back down.

    If you view bubblevision they will tell a good story about how copper is back up because electric vehicles and more house building. There’s truth to that, but other commodities are up in nominal dollar terms as well. A copper mining stock paying 3% dividend looks good when the 10 year Treasury is right around 1.6% or so, but, but, but…

    At a nearly wild guess, 25% or so of the US dollars currently circulating were created in the last 12 to 15 months. That dump of liquidity is still working through the system and more is being dumped in on top of that. However unlike the 70’s the financialized economy can sluff off on the entire world, not just the US.

    That housing buying frenzy appears to exist not just in North America but has spread world wide, for the obvious reason that a physical property retains some value one way or another. Other physical stuff will start to get bid up as well, I am sure. Maybe even NYC real estate?

    Perhaps this is the beginning of the blow-off top of the financialized bubble world. Perhaps. I have relatives who were convinced the dot-com bubble pop was The BiG One, and that was > 20 years ago. There is a lot of ruin in a national economy, and even more in an international one where some players are intent on retaining stability at just about any cost.

  20. A123 says:
    @prime noticer
    "We have to journey all the way back to 1981 for that"

    i experienced it in person. it was crazy seeing the price of everything go up 10% every year. the only thing that didn't seem to change was in the arcade, where a game cost a quarter last year, this year, next year, and the year after that. the video game guys were really physically constrained by the mechanics of the machines, which is probably the only thing that prevented them charging more.

    although i ascribed this era of inflation mainly to going off the gold standard. Volcker was still in charge, it was the last few years of genuine WASP control, the jews weren't fully in control of the financial system quite yet, and the money printing hadn't begun in earnest yet. Greenspan would start the printing in earnest in the late 80s. and we've been under near total jewish financial control since. that was actually when a few arcade machines started charging 2 quarters to play.

    this current financial situation is not a coincidence. jews are using the system to enrich themselves and their financial friends. they have no long term stake in the nation and will bail if things get too bad. and once the money printing starts, no President can afford to turn it off. guaranteed one term if they do.

    this is the EXTREME danger of UBI. the worst idea in the history of mankind. it's already responsible for one of the worst jobs reports in US history. and that's just one month of paying people to not work.

    Replies: @A123, @V. K. Ovelund, @Charles Pewitt

    no President can afford to turn it off. guaranteed one term if they do…. it’s already responsible for one of the worst jobs reports in US history. and that’s just one month of paying people to not work.

    Biden is an Elite Catholic, so there is another group you need to blame in addition to the others. Or, you could just blame Elites, without attributing them to a group. That would be easier & in most ways more accurate.

    Getting beyond that… A number of things you point out about the economics is correct.

    Paying people not to work is a fiasco. It is strangling business that use entry level workers. With unknown numbers of customers, “tips” based jobs are also unattractive vs. taking the guaranteed money. There needs to be a predictable and sizable step between “working for pay” and the much easier “paid not to work”.
    ______

    It would be a larger more complicated article, but a better headline is:

    Everything Is Going Up Because All Currencies Are Going Down

    Tne global nature of capital creates odd effects between the #1 currency USD and the #2 currency EUR. With EUR at negative interest rates there are huge motivations to transfer wealth EUR/USD as negative interest is effectively a tax.

    The Swiss Franc CHF went through severe problems a few years ago and established currency controls to keep EUR/CHF plays from damaging Swiss exports via over valuation.

    The great unwind from WUHAN-19 policy errors will be much more widespread than the just the U.S. Numerous other nations, many in Europe, are worse off than the U.S.

    PEACE 😇

    • Replies: @Getaclue
    @A123

    Biden is no "Elite Catholic" -- he's a Pro-abortion swindler who, like Pelosi, flounts the Religion publicly in just about every way while claiming membership -- the only reason he isn't excommunicated is that the Catholic Church hierarchy has been fully infiltrated by Masons/Communists most of which are homos (ala homo/Cardinal Bernardin the credibly accused Satanist) also, to destroy it from within because attempting to destroy it from without always failed historically -- All of this was planned long ago and Our Lord predicted it to the Holy Stigmatist Marie Julie Jahenny in 1903 as to the infiltration by the "secret society"/Masons and the damage they would do before they and their ilk are finally swatted down for good -- people are clueless as to the Masons, it isn't the clubby low levels that run it, the high levels do and they are purely Satanic/Luciferian -- it is actually a major "religion" as this ex-member recently revealed:

    https://vigilantcitizen.com/latestnews/x-factor-winner-reveals-worlds-secret-religion-video/

    Prediction in 1903 which came true by actions of infiltrated Masonic/Satanic Cardinals in Vatican 2:
    http://latinmasscalifornia.blogspot.com/2011/01/prophecy-of-marie-julie-jahenny-about.html

    This will be coming to address the Masons and other Satanists -- one last chance not to go to Hell forever:
    http://www.garabandal.org/warning.shtml

    , @Twinkie
    @A123


    Biden is an Elite Catholic, so there is another group you need to blame in addition to the others.
     
    Biden is not a real Catholic, elite or otherwise. He's been refused Sacraments at a number of parishes. If you obtain or facilitate abortion, you are automatically excommunicated whether the Church pronounces it officially or not. No one else might know, but YOU know. Biden knows full well that he is excommunicated (or at least he did while he wasn't senile).

    These days, affluent Catholics tend to be much more dogmatic and observant than downscale Catholics (in contrast to the yesteryears when the trend was the other way around). All the conservative parishes with families of 9, 10, 11, or 12 children aren't poor parishes. Elites who pretend to be Catholics or are "cradle" Catholics who aren't observant aren't actual Catholics - they are simply using a label in an effort to claim political allegiance of a religious demographic.

    By the way, I used to take your comments somewhat earnestly, but you are starting to fit the stereotype of "fellow whites" who seem intent on making up fake enemies to deflect attention away from a real elite group that disproportionately and, in reality, dominate much of the governance and culture-shaping of this country. I used to think that "Hasbara trolls" were a silly, paranoid meme, but you are starting to change my mind.

    Replies: @A123

    , @Audacious Epigone
    @A123

    The dollar has a lot further to fall than any other fiat currency does, though. That comes with the territory of having been the world's reserve currency once it no longer is.

  21. @A123
    @prime noticer


    no President can afford to turn it off. guaranteed one term if they do.... it’s already responsible for one of the worst jobs reports in US history. and that’s just one month of paying people to not work.
     
    Biden is an Elite Catholic, so there is another group you need to blame in addition to the others. Or, you could just blame Elites, without attributing them to a group. That would be easier & in most ways more accurate.

    Getting beyond that... A number of things you point out about the economics is correct.

    Paying people not to work is a fiasco. It is strangling business that use entry level workers. With unknown numbers of customers, "tips" based jobs are also unattractive vs. taking the guaranteed money. There needs to be a predictable and sizable step between "working for pay" and the much easier "paid not to work".
    ______

    It would be a larger more complicated article, but a better headline is:

    Everything Is Going Up Because All Currencies Are Going Down

    Tne global nature of capital creates odd effects between the #1 currency USD and the #2 currency EUR. With EUR at negative interest rates there are huge motivations to transfer wealth EUR/USD as negative interest is effectively a tax.

    The Swiss Franc CHF went through severe problems a few years ago and established currency controls to keep EUR/CHF plays from damaging Swiss exports via over valuation.

    The great unwind from WUHAN-19 policy errors will be much more widespread than the just the U.S. Numerous other nations, many in Europe, are worse off than the U.S.

    PEACE 😇

    Replies: @Getaclue, @Twinkie, @Audacious Epigone

    Biden is no “Elite Catholic” — he’s a Pro-abortion swindler who, like Pelosi, flounts the Religion publicly in just about every way while claiming membership — the only reason he isn’t excommunicated is that the Catholic Church hierarchy has been fully infiltrated by Masons/Communists most of which are homos (ala homo/Cardinal Bernardin the credibly accused Satanist) also, to destroy it from within because attempting to destroy it from without always failed historically — All of this was planned long ago and Our Lord predicted it to the Holy Stigmatist Marie Julie Jahenny in 1903 as to the infiltration by the “secret society”/Masons and the damage they would do before they and their ilk are finally swatted down for good — people are clueless as to the Masons, it isn’t the clubby low levels that run it, the high levels do and they are purely Satanic/Luciferian — it is actually a major “religion” as this ex-member recently revealed:

    https://vigilantcitizen.com/latestnews/x-factor-winner-reveals-worlds-secret-religion-video/

    Prediction in 1903 which came true by actions of infiltrated Masonic/Satanic Cardinals in Vatican 2:
    http://latinmasscalifornia.blogspot.com/2011/01/prophecy-of-marie-julie-jahenny-about.html

    This will be coming to address the Masons and other Satanists — one last chance not to go to Hell forever:
    http://www.garabandal.org/warning.shtml

  22. “81 million” voted for an obnoxious, self-hating, dumber-than-dogshit kidsniffer who hid the entire election cycle?

    Seems legit.

    81 million is the new 6 million.

  23. @prime noticer
    "We have to journey all the way back to 1981 for that"

    i experienced it in person. it was crazy seeing the price of everything go up 10% every year. the only thing that didn't seem to change was in the arcade, where a game cost a quarter last year, this year, next year, and the year after that. the video game guys were really physically constrained by the mechanics of the machines, which is probably the only thing that prevented them charging more.

    although i ascribed this era of inflation mainly to going off the gold standard. Volcker was still in charge, it was the last few years of genuine WASP control, the jews weren't fully in control of the financial system quite yet, and the money printing hadn't begun in earnest yet. Greenspan would start the printing in earnest in the late 80s. and we've been under near total jewish financial control since. that was actually when a few arcade machines started charging 2 quarters to play.

    this current financial situation is not a coincidence. jews are using the system to enrich themselves and their financial friends. they have no long term stake in the nation and will bail if things get too bad. and once the money printing starts, no President can afford to turn it off. guaranteed one term if they do.

    this is the EXTREME danger of UBI. the worst idea in the history of mankind. it's already responsible for one of the worst jobs reports in US history. and that's just one month of paying people to not work.

    Replies: @A123, @V. K. Ovelund, @Charles Pewitt

    Not to defend UBI, but …

    this is the EXTREME danger of UBI. the worst idea in the history of mankind. it’s already responsible for one of the worst jobs reports in US history. and that’s just one month of paying people to not work.

    … UBI pays people whether or not they work. So there is a difference.

    • Agree: Audacious Epigone
  24. @beavertales
    The Preppers were right all along.

    Becoming more self-sufficient and de-tethering oneself from the grid as much as possible suddenly looks brilliant.

    If someone can come up with a cheaper way to generate energy and store it at home he'll be meeting the next great demand.

    Replies: @V. K. Ovelund, @Twinkie

    If someone can come up with a cheaper way to generate energy and store it at home he’ll be meeting the next great demand.

    The storage is the problem. Stored energy tends to be dangerous: it explodes, collapses, hurls debris at high speeds, etc. Even energy stored as biomass makes possible wildfires, insect/vermin infestations, and so on. That is just the thermodynamics of it, unfortunately.

    Propane and other hydrocarbons and alcohols are about the friendliest way to store energy on a small scale, but even then, it’s hard.

    • Replies: @Twinkie
    @V. K. Ovelund

    You know how popular lithium rechargeable cells are these days, right? I am sure you know, but people don't seem to realize how unstable they are. They are extremely popular for water- and air-tight flashlights, and people always look at me funny when I tell them they are carrying pipe bombs. And, of course, worse than the possible explosion and fire are the gasses they generate when they burn - highly toxic.


    alcohols
     
    Maize, my friend, maize. ;)

    Replies: @Charles Pewitt

    , @iffen
    @V. K. Ovelund

    alcohols are about the friendliest way to store energy on a small scale

    That's odd, alcohol inevitable drains my energy.

  25. @beavertales
    The Preppers were right all along.

    Becoming more self-sufficient and de-tethering oneself from the grid as much as possible suddenly looks brilliant.

    If someone can come up with a cheaper way to generate energy and store it at home he'll be meeting the next great demand.

    Replies: @V. K. Ovelund, @Twinkie

    The Preppers were right all along.

    Becoming more self-sufficient and de-tethering oneself from the grid as much as possible suddenly looks brilliant.

    My family and I have invested in farmland and healthcare/medicine as well as stockpiling lots of guns and ammo. And we have a community of likeminded people.

    Energy is an issue, but if you are smart about it, not as much as it is for water. Potable water is a big concern, and those without access to it will suffer in periods of disruptions. In general, this means bad things for people in places such as California and Colorado while the much wetter Southeast (swampland!) will manage better.

    Also, people don’t realize how dependent they are to highly complex, “just in time,” (low redundancy) supply chain for all manners of goods, including not just food, but also lifesaving medicine, which keeps literally millions of people alive without much thought today.

    A couple of years ago, an Amazon warehouse on the East Coast was damaged by a tornado and much of the region experienced shipping delays lasting up to several weeks. That was a SINGLE warehouse. A highly complex, “efficient” supply and storage system optimized for extracting every penny is extremely vulnerable to external shocks. That’s why governments of yore that had experienced disasters and wars believed in redundancy and procured accordingly. Those days are gone. We are all on our own now – some of you just don’t know it yet.

  26. @A123
    @prime noticer


    no President can afford to turn it off. guaranteed one term if they do.... it’s already responsible for one of the worst jobs reports in US history. and that’s just one month of paying people to not work.
     
    Biden is an Elite Catholic, so there is another group you need to blame in addition to the others. Or, you could just blame Elites, without attributing them to a group. That would be easier & in most ways more accurate.

    Getting beyond that... A number of things you point out about the economics is correct.

    Paying people not to work is a fiasco. It is strangling business that use entry level workers. With unknown numbers of customers, "tips" based jobs are also unattractive vs. taking the guaranteed money. There needs to be a predictable and sizable step between "working for pay" and the much easier "paid not to work".
    ______

    It would be a larger more complicated article, but a better headline is:

    Everything Is Going Up Because All Currencies Are Going Down

    Tne global nature of capital creates odd effects between the #1 currency USD and the #2 currency EUR. With EUR at negative interest rates there are huge motivations to transfer wealth EUR/USD as negative interest is effectively a tax.

    The Swiss Franc CHF went through severe problems a few years ago and established currency controls to keep EUR/CHF plays from damaging Swiss exports via over valuation.

    The great unwind from WUHAN-19 policy errors will be much more widespread than the just the U.S. Numerous other nations, many in Europe, are worse off than the U.S.

    PEACE 😇

    Replies: @Getaclue, @Twinkie, @Audacious Epigone

    Biden is an Elite Catholic, so there is another group you need to blame in addition to the others.

    Biden is not a real Catholic, elite or otherwise. He’s been refused Sacraments at a number of parishes. If you obtain or facilitate abortion, you are automatically excommunicated whether the Church pronounces it officially or not. No one else might know, but YOU know. Biden knows full well that he is excommunicated (or at least he did while he wasn’t senile).

    These days, affluent Catholics tend to be much more dogmatic and observant than downscale Catholics (in contrast to the yesteryears when the trend was the other way around). All the conservative parishes with families of 9, 10, 11, or 12 children aren’t poor parishes. Elites who pretend to be Catholics or are “cradle” Catholics who aren’t observant aren’t actual Catholics – they are simply using a label in an effort to claim political allegiance of a religious demographic.

    By the way, I used to take your comments somewhat earnestly, but you are starting to fit the stereotype of “fellow whites” who seem intent on making up fake enemies to deflect attention away from a real elite group that disproportionately and, in reality, dominate much of the governance and culture-shaping of this country. I used to think that “Hasbara trolls” were a silly, paranoid meme, but you are starting to change my mind.

    • Replies: @A123
    @Twinkie

    I only mentioned Catholic, because the author I was responding to used WASP and Jews. It was more an enlighten him, rather than any broad based condemnation of Catholicism.

    Pope Francis is an abysmal leader selling out his flock. My only complaint there is, "Why does the Catholic Church not get rid of him?" The explanation seems to be that Popes cannot be confronted baring truly outrageous circumstances. Merely being bad is not enough.

    My Protestant church is broken and I cannot seem to do much about that. He who lives in glass houses..... As a non-Catholic, the most I can do is point out that their model is creating a problem for their membership. Beyond that, it is up to them.

    PEACE 😇

    Replies: @Chrisnonymous, @Twinkie

  27. @V. K. Ovelund
    @beavertales


    If someone can come up with a cheaper way to generate energy and store it at home he’ll be meeting the next great demand.
     
    The storage is the problem. Stored energy tends to be dangerous: it explodes, collapses, hurls debris at high speeds, etc. Even energy stored as biomass makes possible wildfires, insect/vermin infestations, and so on. That is just the thermodynamics of it, unfortunately.

    Propane and other hydrocarbons and alcohols are about the friendliest way to store energy on a small scale, but even then, it's hard.

    Replies: @Twinkie, @iffen

    You know how popular lithium rechargeable cells are these days, right? I am sure you know, but people don’t seem to realize how unstable they are. They are extremely popular for water- and air-tight flashlights, and people always look at me funny when I tell them they are carrying pipe bombs. And, of course, worse than the possible explosion and fire are the gasses they generate when they burn – highly toxic.

    alcohols

    Maize, my friend, maize. 😉

    • Agree: V. K. Ovelund
    • Replies: @Charles Pewitt
    @Twinkie

    Maize, my friend, maize. 😉

    That cocksucker bastard Alexander Hamilton phucked over the Scotch-Irish out in the hinterlands by taxing booze and the booze was easier to transport to markets on the coast than the grains it was made from.

    Hamilton deliberately used the tax on booze to set a precedent for federal taxation authority and power.

    Firewater is stored energy of a sort and the distillation process cuts down on transit costs.

  28. @prime noticer
    "We have to journey all the way back to 1981 for that"

    i experienced it in person. it was crazy seeing the price of everything go up 10% every year. the only thing that didn't seem to change was in the arcade, where a game cost a quarter last year, this year, next year, and the year after that. the video game guys were really physically constrained by the mechanics of the machines, which is probably the only thing that prevented them charging more.

    although i ascribed this era of inflation mainly to going off the gold standard. Volcker was still in charge, it was the last few years of genuine WASP control, the jews weren't fully in control of the financial system quite yet, and the money printing hadn't begun in earnest yet. Greenspan would start the printing in earnest in the late 80s. and we've been under near total jewish financial control since. that was actually when a few arcade machines started charging 2 quarters to play.

    this current financial situation is not a coincidence. jews are using the system to enrich themselves and their financial friends. they have no long term stake in the nation and will bail if things get too bad. and once the money printing starts, no President can afford to turn it off. guaranteed one term if they do.

    this is the EXTREME danger of UBI. the worst idea in the history of mankind. it's already responsible for one of the worst jobs reports in US history. and that's just one month of paying people to not work.

    Replies: @A123, @V. K. Ovelund, @Charles Pewitt

    this is the EXTREME danger of UBI. the worst idea in the history of mankind. it’s already responsible for one of the worst jobs reports in US history. and that’s just one month of paying people to not work.

    There are other ideas worse than UBI or a Federal Reserve Bank Guaranteed Monthly Income and not taking radical political positions is a worse idea. The Founding Fathers were radicals of a sort though not as radical as the French soon became. France is getting radical again, and that is good.

    William the Conqueror dislodged from power the Saxon Ruling Class of England and that kind of spirit is needed at the moment.

    UBI should be conceived of as a route to political power and not in economic terms.

    I wrote this in August of 2020 about conceiving of UBI as a political weapon to dislodge the ruling class:

    UBI or the Pewitt Conjured Loot Portion(PCLP) is about raw power and who has it. A UBI or PCLP will allow the historic American nation or the European Christian ancestral core the ability to dislodge from power the evil and treasonous JEW/WASP ruling class from power.

    The Pewitt Conjured Loot Portion(PCLP) will pay each American who has all blood ancestry born in colonial America or the USA before 1924 a cool ten thousand dollars a month. The US Treasury and the Federal Reserve Bank shall work together to conjure up the cash out of thin air, just like the ruling class is doing now.

    Sam Francis said it’s all about the ruling classes and Sam was right. A UBI or PCLP will create the conditions whereby tens of trillions of dollars and land and property and licenses and other assets can be severed from the ownership and control of the current corrupt and illegitimate JEW/WASP ruling class members of the American Empire and doled out to the patriotic and honorable old stocker members of the European Christian ancestral core.

    UBI or PCLP is about raw political power; it’s not about economics.

    The ability to control the central bank is the true power and it must be contested by the old stocker members of the historic American nation.

    The Federal Reserve Bank must be nationalized and the JEW/WASP ruling class and its minions must be financially liquidated and its members must be forcibly exiled to a hot and humid and nasty part of sub-Saharan Africa. All this must be done legally, of course.

    William the Conqueror thought he got screwed out of his rightful inheritance, and the JEW/WASP ruling class of the American Empire is screwing over the decent and patriotic members of the old stocker historic American nation. Of course, horrible treasonous sleazebag old stockers like those in the Bush Organized Crime Syndicate are examples of old stocker evil globalizer treasonite ruling class nation-wreckers.

    Repudiate All Debt and Financially Liquidate The Plutocrats And Their Stooges.

    GOD BLESS AMERICA!

    https://www.unz.com/anepigone/shaking-the-money-tree/#comment-4134922

    • Replies: @PetrOldSack
    @Charles Pewitt

    @prime noticer

    UBI adds to the leveling to the bottom of the surplus population, stratifies the wealth gap, elevates the power of social engineering due to dependency. And many other factors. It is a recipe for supreme control, and cooking the books in all ways possible to be appropriated by the few.

    Pushing for vegetarianism, floating memes, ultimate control to the body of the meat-ball population. Industrial foods only, a blur between ownership and renting, you name it. The appropriation of all hard assets and energy allocation power by the elites. It is an accelerator, a doper, a duper. Social mobility zero. The closest thing to culling the global population directly.

  29. @Twinkie
    @V. K. Ovelund

    You know how popular lithium rechargeable cells are these days, right? I am sure you know, but people don't seem to realize how unstable they are. They are extremely popular for water- and air-tight flashlights, and people always look at me funny when I tell them they are carrying pipe bombs. And, of course, worse than the possible explosion and fire are the gasses they generate when they burn - highly toxic.


    alcohols
     
    Maize, my friend, maize. ;)

    Replies: @Charles Pewitt

    Maize, my friend, maize. 😉

    That cocksucker bastard Alexander Hamilton phucked over the Scotch-Irish out in the hinterlands by taxing booze and the booze was easier to transport to markets on the coast than the grains it was made from.

    Hamilton deliberately used the tax on booze to set a precedent for federal taxation authority and power.

    Firewater is stored energy of a sort and the distillation process cuts down on transit costs.

  30. @Rahan
    @Mark G.


    Politicians who support current inflationary policies are supporting the values of the underclass and are attacking middle class values
     
    They are purposefully dismantling all the safeguards that made a middle class possible (the nuclear family, shared heritage, shared culture, stable employment, stable gender roles), because the new social order they seeks is a tiny elite, underneath which is a smallish manager-caste (preferably imported from elsewhere at to have loyalty only to each other and their masters), and a huge underclass that is utterly dependent on the system.

    It's not accidental. In 2019 I thought there's still 10-15 years before endgame, but now with the viral pneumonia thing, they've accelerated everything brutally. Maybe Trump (his supporters that is) also forced their hand. So what was supposed to happen circa 2030+, is being rushed in now.

    Fun times. If the parasites and predators fail, it's because they were forced to start earlier, before the current "illusory white majority" and "illusory normality majority" consisting of elderly whites died out, and the new demographic and cultural reality prepared by globohomo fully takes over.

    So, even if they did nothing else, hats off to Trump's peasant supporters for forcing globohomo into moving toward endgame before being 100% ready.

    Replies: @PetrOldSack

    Brainy comment, adding to the author note, by painting the larger context. Start to bottom of the comment.

    They are purposefully dismantling all the safeguards that made a middle class possible (the nuclear family, shared heritage, shared culture, stable employment, stable gender roles), because the new social order they seeks is a tiny elite, underneath which is a smallish manager-caste (preferably imported from elsewhere at to have loyalty only to each other and their masters), and a huge underclass that is utterly dependent on the system.

    Yes, as much for me, a straight line is being drawn between the surplus, excess population and the “Ones Worthy of Living”, the “Chosen Ones”, the “Credible Ones”, the “Elites”, the “Blessed Ones”(privilege), where a “Dollar” is not to buy bread, but a Billion is social leverage. Where time is inherent, as population counts and migrations to any economic equation for the few insiders strategizing.

    It’s not accidental. In 2019 I thought there’s still 10-15 years before endgame, but now with the viral pneumonia thing, they’ve accelerated everything brutally. Maybe Trump (his supporters that is) also forced their hand. So what was supposed to happen circa 2030+, is being rushed in now.

    This sense of urgency does not escape me, but might escape some others, there is always a sweet spot, it is waning, the Chinese elites and the cluster around Putin, surf the tide, as another consequence of a hand being forced into abrupt initiation. The globos are mastered in being parasited themselves.

    Then there is a slight probability of an internal collapse of the elite circles themselves, do they harness enough make known, and less importantly so, less make do, as they estimate. After all, elites come down when opportunistic infighting for the short term draws conflict lines. A little push of the uncontrolable hinterland, (the letter of some military men as an example this week).

    Note: “viral pneumonia”, or the part outside the social engineering, and the “who has done it” part, the medical parameter pointed at, to be called rather “virtual pneumonia”

    Fun times. If the parasites and predators fail, it’s because they were forced to start earlier, before the current “illusory white majority” and “illusory normality majority” consisting of elderly whites died out, and the new demographic and cultural reality prepared by globohomo fully takes over.

    The seventy year old has but few trump cards as his internalized emotional digest of formal knowledge over the timeline of these seventy plus years (there are some left-overs of oral history from parents and elderly grandparents maybe in the traditional middle classes of lore). They must and can be the disturbance incubator. When one sees what Ron Unz get away with in his painted (or mostly not) Covid contexting, the here and few cranny and daring seventy year olds are an addition to the defense of Berlin. An essential asset.

    So, even if they did nothing else, hats off to Trump’s peasant supporters for forcing globohomo into moving toward endgame before being 100% ready.

    Correctly, the former is main credit to bestow on the Trump interlude!

    Thanks for your comment, it is nice to get out of the chit-chat threads of hooking into details before painting a larger context to the problem. After all, “Anything Goes” (Benett and Lady Gaga version), is easy when the envisioning is troubled by smoke.

    • Thanks: Rahan
  31. @V. K. Ovelund
    @beavertales


    If someone can come up with a cheaper way to generate energy and store it at home he’ll be meeting the next great demand.
     
    The storage is the problem. Stored energy tends to be dangerous: it explodes, collapses, hurls debris at high speeds, etc. Even energy stored as biomass makes possible wildfires, insect/vermin infestations, and so on. That is just the thermodynamics of it, unfortunately.

    Propane and other hydrocarbons and alcohols are about the friendliest way to store energy on a small scale, but even then, it's hard.

    Replies: @Twinkie, @iffen

    alcohols are about the friendliest way to store energy on a small scale

    That’s odd, alcohol inevitable drains my energy.

  32. @anonymous
    @neutral

    Racially Texas and California are 40 years ahead of the rest of the US in racial transformation. Both states are fine economically.

    Replies: @songbird

    Racially Texas and California are 40 years ahead of the rest of the US in racial transformation. Both states are fine economically.

    If people are leaving your state (CA), it’s probably not a good sign. CA also has the highest poverty rate of any state.

    Anyway, there are zones and levels of functionality: local, state, and national. Demographic changes in the smaller ones ultimately fit into the larger ones to reduce total functionality.

    One big difference is that a city or state can’t print money, only a country. But there are many other institutions that exist on a national level, like the army, the IRS, and the FBI. When your country turns a certain way, it will affect your neighborhood (whatever its composition) more than the earlier stage when nearby neighborhoods turn a certain way.

  33. @Charles Pewitt
    @prime noticer

    this is the EXTREME danger of UBI. the worst idea in the history of mankind. it’s already responsible for one of the worst jobs reports in US history. and that’s just one month of paying people to not work.

    There are other ideas worse than UBI or a Federal Reserve Bank Guaranteed Monthly Income and not taking radical political positions is a worse idea. The Founding Fathers were radicals of a sort though not as radical as the French soon became. France is getting radical again, and that is good.

    William the Conqueror dislodged from power the Saxon Ruling Class of England and that kind of spirit is needed at the moment.

    UBI should be conceived of as a route to political power and not in economic terms.

    I wrote this in August of 2020 about conceiving of UBI as a political weapon to dislodge the ruling class:

    UBI or the Pewitt Conjured Loot Portion(PCLP) is about raw power and who has it. A UBI or PCLP will allow the historic American nation or the European Christian ancestral core the ability to dislodge from power the evil and treasonous JEW/WASP ruling class from power.

    The Pewitt Conjured Loot Portion(PCLP) will pay each American who has all blood ancestry born in colonial America or the USA before 1924 a cool ten thousand dollars a month. The US Treasury and the Federal Reserve Bank shall work together to conjure up the cash out of thin air, just like the ruling class is doing now.

    Sam Francis said it’s all about the ruling classes and Sam was right. A UBI or PCLP will create the conditions whereby tens of trillions of dollars and land and property and licenses and other assets can be severed from the ownership and control of the current corrupt and illegitimate JEW/WASP ruling class members of the American Empire and doled out to the patriotic and honorable old stocker members of the European Christian ancestral core.

    UBI or PCLP is about raw political power; it’s not about economics.

    The ability to control the central bank is the true power and it must be contested by the old stocker members of the historic American nation.

    The Federal Reserve Bank must be nationalized and the JEW/WASP ruling class and its minions must be financially liquidated and its members must be forcibly exiled to a hot and humid and nasty part of sub-Saharan Africa. All this must be done legally, of course.

    William the Conqueror thought he got screwed out of his rightful inheritance, and the JEW/WASP ruling class of the American Empire is screwing over the decent and patriotic members of the old stocker historic American nation. Of course, horrible treasonous sleazebag old stockers like those in the Bush Organized Crime Syndicate are examples of old stocker evil globalizer treasonite ruling class nation-wreckers.

    Repudiate All Debt and Financially Liquidate The Plutocrats And Their Stooges.

    GOD BLESS AMERICA!

    https://www.unz.com/anepigone/shaking-the-money-tree/#comment-4134922

    Replies: @PetrOldSack

    UBI adds to the leveling to the bottom of the surplus population, stratifies the wealth gap, elevates the power of social engineering due to dependency. And many other factors. It is a recipe for supreme control, and cooking the books in all ways possible to be appropriated by the few.

    Pushing for vegetarianism, floating memes, ultimate control to the body of the meat-ball population. Industrial foods only, a blur between ownership and renting, you name it. The appropriation of all hard assets and energy allocation power by the elites. It is an accelerator, a doper, a duper. Social mobility zero. The closest thing to culling the global population directly.

  34. Weimar 2.0 is going the way the first one went- AWAY.
    Hyperinflation and devaluation are now inevitable.

    They have to hyperinflate to pay their debts.
    This will kill the petrodollar’s World Reserve Currency Status.

    That’s the end of the Zionist Occupational Government right there and then.
    Get ready for a New Order to rise from the ashes of Weimar 2.0.

    They better pray for a Bohemian Corporal.
    I’m more like Ghenghis Khan when I get angry.

  35. @prime noticer
    "Powell seems to think I should appreciate my home value going up but I have to live somewhere so its of no use to me"

    it's of HUGE value to the 20 million assholes in California and New York who can now sell their house for a big profit, move to another state and buy an even bigger, newer house for less money, and pocket the difference.

    this explains like 50% of what is happening in the entire country.

    massively inflating housing prices is an AWESOME deal for the 5 million Democrat voters eyeballing your state. there's never been a deal this good in the history of the country. for them. the people wrecking everything.

    Replies: @Daniel H

    it’s of HUGE value to the 20 million assholes in California and New York who can now sell their house for a big profit, move to another state and buy an even bigger, newer house for less money, and pocket the difference.

    This is precisely the game-plan out here in Las Vegas, where I live. So many leaving the Bay Area with a nice stash and putting it down on a 3,000-4000 sf house. But what’s the real gain, though? Las Vegas is a cultural/economic/spiritual wasteland.

    Buy farmland, good agriculture or grazing land or even a vast expanse of unproductive wilderness. The country is still going to go down, but you won’t notice it as much out in the sticks.

  36. @Twinkie
    @A123


    Biden is an Elite Catholic, so there is another group you need to blame in addition to the others.
     
    Biden is not a real Catholic, elite or otherwise. He's been refused Sacraments at a number of parishes. If you obtain or facilitate abortion, you are automatically excommunicated whether the Church pronounces it officially or not. No one else might know, but YOU know. Biden knows full well that he is excommunicated (or at least he did while he wasn't senile).

    These days, affluent Catholics tend to be much more dogmatic and observant than downscale Catholics (in contrast to the yesteryears when the trend was the other way around). All the conservative parishes with families of 9, 10, 11, or 12 children aren't poor parishes. Elites who pretend to be Catholics or are "cradle" Catholics who aren't observant aren't actual Catholics - they are simply using a label in an effort to claim political allegiance of a religious demographic.

    By the way, I used to take your comments somewhat earnestly, but you are starting to fit the stereotype of "fellow whites" who seem intent on making up fake enemies to deflect attention away from a real elite group that disproportionately and, in reality, dominate much of the governance and culture-shaping of this country. I used to think that "Hasbara trolls" were a silly, paranoid meme, but you are starting to change my mind.

    Replies: @A123

    I only mentioned Catholic, because the author I was responding to used WASP and Jews. It was more an enlighten him, rather than any broad based condemnation of Catholicism.

    Pope Francis is an abysmal leader selling out his flock. My only complaint there is, “Why does the Catholic Church not get rid of him?” The explanation seems to be that Popes cannot be confronted baring truly outrageous circumstances. Merely being bad is not enough.

    My Protestant church is broken and I cannot seem to do much about that. He who lives in glass houses….. As a non-Catholic, the most I can do is point out that their model is creating a problem for their membership. Beyond that, it is up to them.

    PEACE 😇

    • Replies: @Chrisnonymous
    @A123

    The Catholic Church didn't have any problem confronting and getting rid of the last pope. The issue is that the people who need to take action to get rid of the pope like this pope.

    , @Twinkie
    @A123


    Pope Francis is an abysmal leader selling out his flock. My only complaint there is, “Why does the Catholic Church not get rid of him?” The explanation seems to be that Popes cannot be confronted baring truly outrageous circumstances. Merely being bad is not enough.
     
    The Church outlives popes, good or bad. It has had much worse ones than Francis and it may yet have worse ones still. It will nonetheless endure and “the gates of hell shall not prevail against it.”

    Replies: @dfordoom, @songbird

  37. @A123
    @Twinkie

    I only mentioned Catholic, because the author I was responding to used WASP and Jews. It was more an enlighten him, rather than any broad based condemnation of Catholicism.

    Pope Francis is an abysmal leader selling out his flock. My only complaint there is, "Why does the Catholic Church not get rid of him?" The explanation seems to be that Popes cannot be confronted baring truly outrageous circumstances. Merely being bad is not enough.

    My Protestant church is broken and I cannot seem to do much about that. He who lives in glass houses..... As a non-Catholic, the most I can do is point out that their model is creating a problem for their membership. Beyond that, it is up to them.

    PEACE 😇

    Replies: @Chrisnonymous, @Twinkie

    The Catholic Church didn’t have any problem confronting and getting rid of the last pope. The issue is that the people who need to take action to get rid of the pope like this pope.

  38. @UNIT472
    I'll be 70 in six months so inflation is terrible news for me. I had everything nicely balanced with a CPI under 2% but anything above that is a tax on me to subsidize Wall St leverage and deadbeat debtors. The only place I can cut back on is dining out and travel so for those restauranteurs and hospitality industry businesses looking to reopen you might not want to bother.

    Powell seems to think I should appreciate my home value going up but I have to live somewhere so its of no use to me if my paid for house is worth $50,000 more if the house I would need to buy goes up by the same. In fact, factoring in transaction costs and moving expenses its a net negative.

    I earn almost nothing on my savings now so my income is reduced. I went to a McDonalds for the first time in long time. A Big Mac, fries and drink costs almost $10. With the wage increases McDonalds just announced I assume it will be more like $12 dollars in a year. Gas has gone up almost 20% in the past week. I don't drive a lot but I'll drive even less if those costs don't come back down and that's not likely with Biden in the White House. The only bright thing has been medical and auto insurance. They didn't go up in the recent past thanks to covid but that might be a on time event.

    I guess I have to get used to the fact that the 'system' can't wait for me to die to extract my wealth. Biden and his parasites need it now.

    Replies: @Chrisnonymous, @Audacious Epigone

    I went to a McDonalds for the first time in long time. A Big Mac, fries and drink costs almost $10

    The trick with McDonalds is to get just the regular hamburgers. You can get two for about $2, then take the beef patty, pickles, and onions off one and put them on the other and throw away the second bun (which is just sugar masquerading as food anyway). Then you’ve got one decent-sized burger for $2. The cola is really bad for you, and the french fries usually aren’t worth it (you regret them), so you can get the side salad for another dollar or two. Here in Japan it’s popular to drink coffee with hamburgers. I don’t know how that got started, and I was revolted at first, but now I kind of like that combo too. McDonalds coffee is much better these days than it used to be, so you can add that for another dollar. Then you’ve got a decent meal for about $6–half the price of your Big Mac meal and healthier to boot.

    My father is in his 70s. He retired in 2019, has spent all his retirement time in lockdown, and will now probably see all his retirement finances go to shit. He and my mother basically just use the Internet and occasionally get takeout pizza or a steak. If they can’t do that anymore, they’ll have a pretty sad life for the next 10-20 years.

    I feel bad for people in your age bracket, although to be honest, my prospects don’t look good either.

  39. @A123
    @Twinkie

    I only mentioned Catholic, because the author I was responding to used WASP and Jews. It was more an enlighten him, rather than any broad based condemnation of Catholicism.

    Pope Francis is an abysmal leader selling out his flock. My only complaint there is, "Why does the Catholic Church not get rid of him?" The explanation seems to be that Popes cannot be confronted baring truly outrageous circumstances. Merely being bad is not enough.

    My Protestant church is broken and I cannot seem to do much about that. He who lives in glass houses..... As a non-Catholic, the most I can do is point out that their model is creating a problem for their membership. Beyond that, it is up to them.

    PEACE 😇

    Replies: @Chrisnonymous, @Twinkie

    Pope Francis is an abysmal leader selling out his flock. My only complaint there is, “Why does the Catholic Church not get rid of him?” The explanation seems to be that Popes cannot be confronted baring truly outrageous circumstances. Merely being bad is not enough.

    The Church outlives popes, good or bad. It has had much worse ones than Francis and it may yet have worse ones still. It will nonetheless endure and “the gates of hell shall not prevail against it.”

    • Replies: @dfordoom
    @Twinkie


    The Church outlives popes, good or bad. It has had much worse ones than Francis and it may yet have worse ones still.
     
    Do you think the problem is just a bad pope, or is it a problem with the hierarchy as a whole?

    Replies: @Twinkie

    , @songbird
    @Twinkie

    IMO, the Church is in a demographic crisis, and as such it is not comparable to a Borgia pope, or anything in its previous history. Pope Alexander VI having several illegitimate children is quite a different problem than Italy having a TFR of 1.3 and being flooded by migrants.

    Does the Church have a demographic solution where Europeans will stop being invaded and parasitized? If it does not - if it cannot formulate one - (actually, it seems to be a full participant in that displacement) than I don't see how it can have a future.

    The idea that some have that the Church's future is in Africa is laughable. People who believe that don't understand Africa. They are willfully ignorant.

    Replies: @Twinkie

  40. @Twinkie
    @A123


    Pope Francis is an abysmal leader selling out his flock. My only complaint there is, “Why does the Catholic Church not get rid of him?” The explanation seems to be that Popes cannot be confronted baring truly outrageous circumstances. Merely being bad is not enough.
     
    The Church outlives popes, good or bad. It has had much worse ones than Francis and it may yet have worse ones still. It will nonetheless endure and “the gates of hell shall not prevail against it.”

    Replies: @dfordoom, @songbird

    The Church outlives popes, good or bad. It has had much worse ones than Francis and it may yet have worse ones still.

    Do you think the problem is just a bad pope, or is it a problem with the hierarchy as a whole?

    • Replies: @Twinkie
    @dfordoom


    Do you think the problem is just a bad pope, or is it a problem with the hierarchy as a whole?
     
    There are regional, cultural as well as factional elements within the clerical hierarchy that are at odds. There is also a generational aspect.

    One thing I should note clearly is that the Church is not a building or the clerical hierarchy or even an institution. The Church is the whole body of believers, the Communion of Saints.
  41. @Twinkie
    @A123


    Pope Francis is an abysmal leader selling out his flock. My only complaint there is, “Why does the Catholic Church not get rid of him?” The explanation seems to be that Popes cannot be confronted baring truly outrageous circumstances. Merely being bad is not enough.
     
    The Church outlives popes, good or bad. It has had much worse ones than Francis and it may yet have worse ones still. It will nonetheless endure and “the gates of hell shall not prevail against it.”

    Replies: @dfordoom, @songbird

    IMO, the Church is in a demographic crisis, and as such it is not comparable to a Borgia pope, or anything in its previous history. Pope Alexander VI having several illegitimate children is quite a different problem than Italy having a TFR of 1.3 and being flooded by migrants.

    Does the Church have a demographic solution where Europeans will stop being invaded and parasitized? If it does not – if it cannot formulate one – (actually, it seems to be a full participant in that displacement) than I don’t see how it can have a future.

    The idea that some have that the Church’s future is in Africa is laughable. People who believe that don’t understand Africa. They are willfully ignorant.

    • Replies: @Twinkie
    @songbird


    the Church is in a demographic crisis
     
    Obviously, my preference is for a large Church of obedient, orthodox faithful, but if we must make a temporary choice between a large Church with weak faith or a small Church with strong faith, I would opt for the latter. For me the intensity of faith among the faithful matter more than the sheer number of adherents.

    Does the Church have a demographic solution where Europeans will stop being invaded and parasitized? If it does not – if it cannot formulate one – (actually, it seems to be a full participant in that displacement) than I don’t see how it can have a future.
     
    The Church doesn't exist just for Europeans - it's for all mankind. I should note that its early spread coincided with a much more historically cataclysmic events than what Europe is experiencing today - die Völkerwanderung.

    The idea that some have that the Church’s future is in Africa is laughable.
     
    The Church's future is everywhere, though obviously there will be ebb and flow in different regions at different times.

    Replies: @songbird

  42. Anon[418] • Disclaimer says:

    UBI pays people whether or not they work. So there is a difference

    The original reasoning for UBI has been completely lost.

    A huge percentage of money spent on social safety nets is consumed by the ever increasing management apparatus. Determining eligibility and administering literally hundreds of different programs is very, very costly.

    There is the additional cost of the perverse incentives these programs induce. People will distort their lives into all kinds of dysfunctional patterns for just a little more free money.

    The point of the original UBI was that all other social safety net programs would be eliminated except UBI. Everyone from the poorest train jumping hobo to the richest globe trotting billionaire would get the same check. Simply getting rid of the admin and bureacracy costs more than made up for the cost of giving UBI to everybody. It also elimated the perverse incentive of not working for fear of losing out on “free” money. You would get the money regardless so why not keep your job and earn more for a more comfortable lifestyle.

    UBI wouldn’t be pleasant for most people, but you wouldn’t die if you couldn’t work.

    What we are seeing now doesn’t even vaguely resemble the original UBI proposals.

    • Agree: V. K. Ovelund
  43. @Anonymous
    https://twitter.com/Delicious_Tacos/status/1392558961518280708

    Replies: @Nikolai Vladivostok

    That’s an inflection point: funny dating blogger is now giving out sounder economic information than the government.

  44. @dfordoom
    @Twinkie


    The Church outlives popes, good or bad. It has had much worse ones than Francis and it may yet have worse ones still.
     
    Do you think the problem is just a bad pope, or is it a problem with the hierarchy as a whole?

    Replies: @Twinkie

    Do you think the problem is just a bad pope, or is it a problem with the hierarchy as a whole?

    There are regional, cultural as well as factional elements within the clerical hierarchy that are at odds. There is also a generational aspect.

    One thing I should note clearly is that the Church is not a building or the clerical hierarchy or even an institution. The Church is the whole body of believers, the Communion of Saints.

  45. @songbird
    @Twinkie

    IMO, the Church is in a demographic crisis, and as such it is not comparable to a Borgia pope, or anything in its previous history. Pope Alexander VI having several illegitimate children is quite a different problem than Italy having a TFR of 1.3 and being flooded by migrants.

    Does the Church have a demographic solution where Europeans will stop being invaded and parasitized? If it does not - if it cannot formulate one - (actually, it seems to be a full participant in that displacement) than I don't see how it can have a future.

    The idea that some have that the Church's future is in Africa is laughable. People who believe that don't understand Africa. They are willfully ignorant.

    Replies: @Twinkie

    the Church is in a demographic crisis

    Obviously, my preference is for a large Church of obedient, orthodox faithful, but if we must make a temporary choice between a large Church with weak faith or a small Church with strong faith, I would opt for the latter. For me the intensity of faith among the faithful matter more than the sheer number of adherents.

    Does the Church have a demographic solution where Europeans will stop being invaded and parasitized? If it does not – if it cannot formulate one – (actually, it seems to be a full participant in that displacement) than I don’t see how it can have a future.

    The Church doesn’t exist just for Europeans – it’s for all mankind. I should note that its early spread coincided with a much more historically cataclysmic events than what Europe is experiencing today – die Völkerwanderung.

    The idea that some have that the Church’s future is in Africa is laughable.

    The Church’s future is everywhere, though obviously there will be ebb and flow in different regions at different times.

    • Replies: @songbird
    @Twinkie


    For me the intensity of faith among the faithful matter more than the sheer number of adherents.
     
    Unfortunately, a demographic crisis also affects the clergy and hierarchy, as the selection process must deal with less candidates, who are arguably more likely homosexual than was ever previously the case, which has a feedback affect on the enthusiasm of the laity, whose organizations anyway seem to have been captured by the same political dynamics that predominate outside the Church. I've shared this story before:

    Germany's powerful lay organization, the Central Committee of German Catholics, or ZdK, which has been advocating for gay blessings since 2015, positioned itself once more in favor of them. It called the contentious document from Rome "not very helpful" and explicitly expressed its support for "Love Wins."
     
    https://www.newsweek.com/100-german-catholic-churches-issue-same-sex-blessings-defying-vatican-1590068

    The Church doesn’t exist just for Europeans – it’s for all mankind.
     
    Where it fails Europeans (its historical core), it is not likely to succeed for other groups. Universalism in the days of sail or steam is quite a different prospect than universalism in the days of cheap flights. The gospels being preached in Nigeria is quite a different thing than your local priests being Nigerians, or your congregation being Haitians. Or the Church being paid to settle Muslims in your local area. I've also pointed out that it is Euros who pay the bills.

    The Church’s future is everywhere
     
    I wouldn't say this is true. At the very least, it does not seem to have much of a future in Muslim areas.

    Replies: @dfordoom, @nebulafox

  46. Reality check–the April surge in inflation was driven by a few categories which normally accounted for 13% of consumer spending and were impacted by reopening quirks: https://www.barrons.com/articles/dont-be-fooled-by-aprils-inflation-jump-its-being-driven-by-reopening-quirks-51620847392

    The April inflation surge may well be a temporary phenomenon driven by the very poor response to the pandemic and the global shortage of semiconductors. Some of the weird supply bottlenecks are fixing themselves. Lumber prices have started coming down for instance: https://www.nasdaq.com/market-activity/commodities/lbs

    It’s true that the markets now fear inflation, and unlike during the Great Recession this time central bank intervention sharply increased M2 money supply rather than simply bank reserves. Additionally, the additional bonus paid on unemployment insurance is squeezing unskilled and semi-skilled labor supply. But it must be remembered that the economy remains far below pre-COVID capacity (eight million jobs short for instance), energy prices are moderate, and disinflationary structural megatrends such as low birth rates and “free trade” haven’t gone away.

    That said, if you fear inflation, you should be tailoring your portfolio accordingly. Get out of cash and (most) bonds, and invest in equities where the underlying businesses have real pricing power. Dividends from American corporations have outpaced inflation in every decade on record other than the 1970s, and in the 1970s selecting appropriate companies rather than the broad market would have worked. A Dividend Aristocrats ETF for instance would do nicely.

  47. @neutral
    A land populated by increasingly inferior races, embracing an ideology that openly worships blacks (the most inferior of all races) and other lunacies, increasingly by run by sociopaths and psychopaths. No doubt somebody here is going to write a comment on how it is not wise to bet against America, that the magic dirt protects it from all ills.

    Replies: @anonymous, @Mulga Mumblebrain

    Thank God there are still some deranged racists left, to hold up the banner of White Supremacy.

  48. @Twinkie
    @songbird


    the Church is in a demographic crisis
     
    Obviously, my preference is for a large Church of obedient, orthodox faithful, but if we must make a temporary choice between a large Church with weak faith or a small Church with strong faith, I would opt for the latter. For me the intensity of faith among the faithful matter more than the sheer number of adherents.

    Does the Church have a demographic solution where Europeans will stop being invaded and parasitized? If it does not – if it cannot formulate one – (actually, it seems to be a full participant in that displacement) than I don’t see how it can have a future.
     
    The Church doesn't exist just for Europeans - it's for all mankind. I should note that its early spread coincided with a much more historically cataclysmic events than what Europe is experiencing today - die Völkerwanderung.

    The idea that some have that the Church’s future is in Africa is laughable.
     
    The Church's future is everywhere, though obviously there will be ebb and flow in different regions at different times.

    Replies: @songbird

    For me the intensity of faith among the faithful matter more than the sheer number of adherents.

    Unfortunately, a demographic crisis also affects the clergy and hierarchy, as the selection process must deal with less candidates, who are arguably more likely homosexual than was ever previously the case, which has a feedback affect on the enthusiasm of the laity, whose organizations anyway seem to have been captured by the same political dynamics that predominate outside the Church. I’ve shared this story before:

    Germany’s powerful lay organization, the Central Committee of German Catholics, or ZdK, which has been advocating for gay blessings since 2015, positioned itself once more in favor of them. It called the contentious document from Rome “not very helpful” and explicitly expressed its support for “Love Wins.”

    https://www.newsweek.com/100-german-catholic-churches-issue-same-sex-blessings-defying-vatican-1590068

    The Church doesn’t exist just for Europeans – it’s for all mankind.

    Where it fails Europeans (its historical core), it is not likely to succeed for other groups. Universalism in the days of sail or steam is quite a different prospect than universalism in the days of cheap flights. The gospels being preached in Nigeria is quite a different thing than your local priests being Nigerians, or your congregation being Haitians. Or the Church being paid to settle Muslims in your local area. I’ve also pointed out that it is Euros who pay the bills.

    The Church’s future is everywhere

    I wouldn’t say this is true. At the very least, it does not seem to have much of a future in Muslim areas.

    • Replies: @dfordoom
    @songbird



    The Church’s future is everywhere
     
    I wouldn’t say this is true. At the very least, it does not seem to have much of a future in Muslim areas.
     
    The view that many Catholics (and Christians in general) take, and I think this is probably true of Twinkie's view, is that the Church will ultimately triumph because it's God's plan for it to triumph. It's a faith-based view. The problem is that it can lead Catholics to taking a passive approach - there's no need to worry about the problems in the Church because in the long run God will sort those problems out.

    That faith-based approach also leads Christians to take the view that Christianity can and indeed must spread over the entire globe because that's God's plan. Which is why Christianity has been such an aggressively missionary religion. The end result is the attempt to impose Christianity on other peoples who already have their own religious traditions, their own cultural traditions and their own belief systems. That's one of the things I dislike about universalist belief systems. I personally would prefer to allow other peoples (like the Chinese) keep their own religious and cultural traditions and their own belief systems.

    But that's just me. I dislike universalist and imperialist belief systems. That's my big objection to modern liberalism - it's another universalist and imperialist belief system.

    Replies: @RSDB, @songbird

    , @nebulafox
    @songbird

    It's worth keeping in mind "Europe is the faith" wasn't really a reality until well into the Middle Ages. Not just in terms of the presence of Christianity elsewhere, but also of the Christianization of Eastern Germany, Hungary, Poland, Scandinavia, Russia, et all still being an ongoing process.

    "Europe is the faith" was the result of historical contingencies. If a series of events in the 7th Century didn't happen, the core of the faith might have remained the Levant and Anatolia: it's probable that Islam started out as an apocalyptic mix of heterodox "Eastern" Christianity and millenarian Judaism, TBH.

    I wouldn't worry too much about the "socially liberal" types hijacking religion. They don't have what it takes to last through the ages, in my humble estimation. It's a social club with social club-esque commitment and profundity.

    >. The gospels being preached in Nigeria is quite a different thing than your local priests being Nigerians, or your congregation being Haitians. Or the Church being paid to settle Muslims in your local area. I’ve also pointed out that it is Euros who pay the bills.

    Religion is always going to morph to the needs of the local culture and times: this is hardly limited to Christianity, as everything from militant Buddhist monks in sengoku Japan to modern Malays seeking out shamans should show. If we did things uniformly, perfectly as intended, without any characteristic human spills in the mix, we'd be either gods or beasts.

    See why I think globalism-the vision of turning the world into a box store, with all the different colors and varieties, but no true *uniqueness* in thought, in tradition-is so deeply monstrous.

  49. @songbird
    @Twinkie


    For me the intensity of faith among the faithful matter more than the sheer number of adherents.
     
    Unfortunately, a demographic crisis also affects the clergy and hierarchy, as the selection process must deal with less candidates, who are arguably more likely homosexual than was ever previously the case, which has a feedback affect on the enthusiasm of the laity, whose organizations anyway seem to have been captured by the same political dynamics that predominate outside the Church. I've shared this story before:

    Germany's powerful lay organization, the Central Committee of German Catholics, or ZdK, which has been advocating for gay blessings since 2015, positioned itself once more in favor of them. It called the contentious document from Rome "not very helpful" and explicitly expressed its support for "Love Wins."
     
    https://www.newsweek.com/100-german-catholic-churches-issue-same-sex-blessings-defying-vatican-1590068

    The Church doesn’t exist just for Europeans – it’s for all mankind.
     
    Where it fails Europeans (its historical core), it is not likely to succeed for other groups. Universalism in the days of sail or steam is quite a different prospect than universalism in the days of cheap flights. The gospels being preached in Nigeria is quite a different thing than your local priests being Nigerians, or your congregation being Haitians. Or the Church being paid to settle Muslims in your local area. I've also pointed out that it is Euros who pay the bills.

    The Church’s future is everywhere
     
    I wouldn't say this is true. At the very least, it does not seem to have much of a future in Muslim areas.

    Replies: @dfordoom, @nebulafox

    The Church’s future is everywhere

    I wouldn’t say this is true. At the very least, it does not seem to have much of a future in Muslim areas.

    The view that many Catholics (and Christians in general) take, and I think this is probably true of Twinkie’s view, is that the Church will ultimately triumph because it’s God’s plan for it to triumph. It’s a faith-based view. The problem is that it can lead Catholics to taking a passive approach – there’s no need to worry about the problems in the Church because in the long run God will sort those problems out.

    That faith-based approach also leads Christians to take the view that Christianity can and indeed must spread over the entire globe because that’s God’s plan. Which is why Christianity has been such an aggressively missionary religion. The end result is the attempt to impose Christianity on other peoples who already have their own religious traditions, their own cultural traditions and their own belief systems. That’s one of the things I dislike about universalist belief systems. I personally would prefer to allow other peoples (like the Chinese) keep their own religious and cultural traditions and their own belief systems.

    But that’s just me. I dislike universalist and imperialist belief systems. That’s my big objection to modern liberalism – it’s another universalist and imperialist belief system.

    • Replies: @RSDB
    @dfordoom


    Church will ultimately triumph because it’s God’s plan for it to triumph
     
    There is a question here that you have not gone into. What does it mean for the Church to triumph? It does not mean, for any Catholic, that everyone will be Catholic or that everyone will go to heaven. We do not have those guarantees, and, frankly, they would be pretty silly.

    What we have is the promise that the Church will endure until the end-- whether with twelve members on earth or twelve billion is not terribly important from this perspective.
    , @songbird
    @dfordoom


    is that the Church will ultimately triumph because it’s God’s plan for it to triumph. It’s a faith-based view.
     
    I do wonder what the leadership is thinking. Put the other stuff aside. It is still hard to understand why any of them would think importing Muslims into a Christian country would be a good idea.

    That faith-based approach also leads Christians to take the view that Christianity can and indeed must spread over the entire globe because that’s God’s plan.
     
    well, it is a biblical injunction to spread the gospels. I think that kind of makes it difficult to temper impulses towards universalism, but, having said that, to my mind at least, Christianity does seem less universalist than modern liberalism. Perhaps, it is less utopian.

    That’s my big objection to modern liberalism – it’s another universalist and imperialist belief system.
     
    Its inherent tendency towards boundless aggrandizement is definitely its worst and most dangerous aspect. If it had been taken up as that national ideology of one country, then I think the decline of that country would naturally make it self-limiting.
  50. @dfordoom
    @songbird



    The Church’s future is everywhere
     
    I wouldn’t say this is true. At the very least, it does not seem to have much of a future in Muslim areas.
     
    The view that many Catholics (and Christians in general) take, and I think this is probably true of Twinkie's view, is that the Church will ultimately triumph because it's God's plan for it to triumph. It's a faith-based view. The problem is that it can lead Catholics to taking a passive approach - there's no need to worry about the problems in the Church because in the long run God will sort those problems out.

    That faith-based approach also leads Christians to take the view that Christianity can and indeed must spread over the entire globe because that's God's plan. Which is why Christianity has been such an aggressively missionary religion. The end result is the attempt to impose Christianity on other peoples who already have their own religious traditions, their own cultural traditions and their own belief systems. That's one of the things I dislike about universalist belief systems. I personally would prefer to allow other peoples (like the Chinese) keep their own religious and cultural traditions and their own belief systems.

    But that's just me. I dislike universalist and imperialist belief systems. That's my big objection to modern liberalism - it's another universalist and imperialist belief system.

    Replies: @RSDB, @songbird

    Church will ultimately triumph because it’s God’s plan for it to triumph

    There is a question here that you have not gone into. What does it mean for the Church to triumph? It does not mean, for any Catholic, that everyone will be Catholic or that everyone will go to heaven. We do not have those guarantees, and, frankly, they would be pretty silly.

    What we have is the promise that the Church will endure until the end– whether with twelve members on earth or twelve billion is not terribly important from this perspective.

  51. @dfordoom
    @songbird



    The Church’s future is everywhere
     
    I wouldn’t say this is true. At the very least, it does not seem to have much of a future in Muslim areas.
     
    The view that many Catholics (and Christians in general) take, and I think this is probably true of Twinkie's view, is that the Church will ultimately triumph because it's God's plan for it to triumph. It's a faith-based view. The problem is that it can lead Catholics to taking a passive approach - there's no need to worry about the problems in the Church because in the long run God will sort those problems out.

    That faith-based approach also leads Christians to take the view that Christianity can and indeed must spread over the entire globe because that's God's plan. Which is why Christianity has been such an aggressively missionary religion. The end result is the attempt to impose Christianity on other peoples who already have their own religious traditions, their own cultural traditions and their own belief systems. That's one of the things I dislike about universalist belief systems. I personally would prefer to allow other peoples (like the Chinese) keep their own religious and cultural traditions and their own belief systems.

    But that's just me. I dislike universalist and imperialist belief systems. That's my big objection to modern liberalism - it's another universalist and imperialist belief system.

    Replies: @RSDB, @songbird

    is that the Church will ultimately triumph because it’s God’s plan for it to triumph. It’s a faith-based view.

    I do wonder what the leadership is thinking. Put the other stuff aside. It is still hard to understand why any of them would think importing Muslims into a Christian country would be a good idea.

    That faith-based approach also leads Christians to take the view that Christianity can and indeed must spread over the entire globe because that’s God’s plan.

    well, it is a biblical injunction to spread the gospels. I think that kind of makes it difficult to temper impulses towards universalism, but, having said that, to my mind at least, Christianity does seem less universalist than modern liberalism. Perhaps, it is less utopian.

    That’s my big objection to modern liberalism – it’s another universalist and imperialist belief system.

    Its inherent tendency towards boundless aggrandizement is definitely its worst and most dangerous aspect. If it had been taken up as that national ideology of one country, then I think the decline of that country would naturally make it self-limiting.

  52. @songbird
    @Twinkie


    For me the intensity of faith among the faithful matter more than the sheer number of adherents.
     
    Unfortunately, a demographic crisis also affects the clergy and hierarchy, as the selection process must deal with less candidates, who are arguably more likely homosexual than was ever previously the case, which has a feedback affect on the enthusiasm of the laity, whose organizations anyway seem to have been captured by the same political dynamics that predominate outside the Church. I've shared this story before:

    Germany's powerful lay organization, the Central Committee of German Catholics, or ZdK, which has been advocating for gay blessings since 2015, positioned itself once more in favor of them. It called the contentious document from Rome "not very helpful" and explicitly expressed its support for "Love Wins."
     
    https://www.newsweek.com/100-german-catholic-churches-issue-same-sex-blessings-defying-vatican-1590068

    The Church doesn’t exist just for Europeans – it’s for all mankind.
     
    Where it fails Europeans (its historical core), it is not likely to succeed for other groups. Universalism in the days of sail or steam is quite a different prospect than universalism in the days of cheap flights. The gospels being preached in Nigeria is quite a different thing than your local priests being Nigerians, or your congregation being Haitians. Or the Church being paid to settle Muslims in your local area. I've also pointed out that it is Euros who pay the bills.

    The Church’s future is everywhere
     
    I wouldn't say this is true. At the very least, it does not seem to have much of a future in Muslim areas.

    Replies: @dfordoom, @nebulafox

    It’s worth keeping in mind “Europe is the faith” wasn’t really a reality until well into the Middle Ages. Not just in terms of the presence of Christianity elsewhere, but also of the Christianization of Eastern Germany, Hungary, Poland, Scandinavia, Russia, et all still being an ongoing process.

    “Europe is the faith” was the result of historical contingencies. If a series of events in the 7th Century didn’t happen, the core of the faith might have remained the Levant and Anatolia: it’s probable that Islam started out as an apocalyptic mix of heterodox “Eastern” Christianity and millenarian Judaism, TBH.

    I wouldn’t worry too much about the “socially liberal” types hijacking religion. They don’t have what it takes to last through the ages, in my humble estimation. It’s a social club with social club-esque commitment and profundity.

    >. The gospels being preached in Nigeria is quite a different thing than your local priests being Nigerians, or your congregation being Haitians. Or the Church being paid to settle Muslims in your local area. I’ve also pointed out that it is Euros who pay the bills.

    Religion is always going to morph to the needs of the local culture and times: this is hardly limited to Christianity, as everything from militant Buddhist monks in sengoku Japan to modern Malays seeking out shamans should show. If we did things uniformly, perfectly as intended, without any characteristic human spills in the mix, we’d be either gods or beasts.

    See why I think globalism-the vision of turning the world into a box store, with all the different colors and varieties, but no true *uniqueness* in thought, in tradition-is so deeply monstrous.

    • Thanks: songbird
  53. καὶ ἤκουσα ὡς φωνὴν ἐν μέσῳ τῶν τεσσάρων ζῴων λέγουσαν χοῖνιξ σίτου δηναρίου καὶ τρεῖς χοίνικες κριθῶν δηναρίου καὶ τὸ ἔλαιον καὶ τὸν οἶνον μὴ ἀδικήσῃς.

    -Revelation 6:6.

    • Replies: @RSDB
  54. RSDB says:
    @nebulafox
    καὶ ἤκουσα ὡς φωνὴν ἐν μέσῳ τῶν τεσσάρων ζῴων λέγουσαν χοῖνιξ σίτου δηναρίου καὶ τρεῖς χοίνικες κριθῶν δηναρίου καὶ τὸ ἔλαιον καὶ τὸν οἶνον μὴ ἀδικήσῃς.

    -Revelation 6:6.

    Replies: @RSDB

    • Replies: @nebulafox
    @RSDB

    When I was a child, just the verse number would have been enough. ;) If one believes, one might say it was presaging the 3rd Century.

    Off-topic, but it's a beautiful language.

    https://www.youtube.com/watch?v=q9Gkr-DQbTw

    Replies: @RSDB

  55. @RSDB

    When I was a child, just the verse number would have been enough. 😉 If one believes, one might say it was presaging the 3rd Century.

    Off-topic, but it’s a beautiful language.

    • Thanks: RSDB
    • Replies: @RSDB
    @nebulafox

    Yes, that is one of the standard interpretations: S. John, in imitation of the ancient prophets, makes use of the earthquake, &c. hyperbolically, to mark more strongly the dreadful and horrible evils with which the Roman empire, and its persecuting emperors, were to be overwhelmed.


    Off-topic, but it’s a beautiful language.

     

    Yes, it is*, and all peoples should hear it, but it's rather odd to make a clip saying "My mouth shall speak wisdom" and leaving the wisdom itself, I suppose, for another video. :)

    Perhaps it's not entirely off-topic anyway: What need have I to be afraid in troubled times, when malice dogs my heels and overtakes me, malice of foes who trust in their own strength, and boast of their great possessions?

    Really, though, famines, plagues, natural and manmade disasters, "wars and rumors of war" are fairly common things in this world and it is easy to fit Biblical apocalyptic prophecies to all sorts of interpretations.


    *Latin and English are nice too:
    https://www.youtube.com/watch?v=VsBddOX8rbo

    https://www.youtube.com/watch?v=0RnX2bZjNU0

    Replies: @RSDB

  56. @nebulafox
    @RSDB

    When I was a child, just the verse number would have been enough. ;) If one believes, one might say it was presaging the 3rd Century.

    Off-topic, but it's a beautiful language.

    https://www.youtube.com/watch?v=q9Gkr-DQbTw

    Replies: @RSDB

    Yes, that is one of the standard interpretations: S. John, in imitation of the ancient prophets, makes use of the earthquake, &c. hyperbolically, to mark more strongly the dreadful and horrible evils with which the Roman empire, and its persecuting emperors, were to be overwhelmed.

    Off-topic, but it’s a beautiful language.

    Yes, it is*, and all peoples should hear it, but it’s rather odd to make a clip saying “My mouth shall speak wisdom” and leaving the wisdom itself, I suppose, for another video. 🙂

    Perhaps it’s not entirely off-topic anyway: What need have I to be afraid in troubled times, when malice dogs my heels and overtakes me, malice of foes who trust in their own strength, and boast of their great possessions?

    Really, though, famines, plagues, natural and manmade disasters, “wars and rumors of war” are fairly common things in this world and it is easy to fit Biblical apocalyptic prophecies to all sorts of interpretations.

    [MORE]

    *Latin and English are nice too:

    • Replies: @RSDB
    @RSDB

    As for myself and my commenting, I should probably pay more attention to Παροιμίες 17:28 -- try that without clicking the link.

  57. @RSDB
    @nebulafox

    Yes, that is one of the standard interpretations: S. John, in imitation of the ancient prophets, makes use of the earthquake, &c. hyperbolically, to mark more strongly the dreadful and horrible evils with which the Roman empire, and its persecuting emperors, were to be overwhelmed.


    Off-topic, but it’s a beautiful language.

     

    Yes, it is*, and all peoples should hear it, but it's rather odd to make a clip saying "My mouth shall speak wisdom" and leaving the wisdom itself, I suppose, for another video. :)

    Perhaps it's not entirely off-topic anyway: What need have I to be afraid in troubled times, when malice dogs my heels and overtakes me, malice of foes who trust in their own strength, and boast of their great possessions?

    Really, though, famines, plagues, natural and manmade disasters, "wars and rumors of war" are fairly common things in this world and it is easy to fit Biblical apocalyptic prophecies to all sorts of interpretations.


    *Latin and English are nice too:
    https://www.youtube.com/watch?v=VsBddOX8rbo

    https://www.youtube.com/watch?v=0RnX2bZjNU0

    Replies: @RSDB

    As for myself and my commenting, I should probably pay more attention to Παροιμίες 17:28 — try that without clicking the link.

  58. @UNIT472
    I'll be 70 in six months so inflation is terrible news for me. I had everything nicely balanced with a CPI under 2% but anything above that is a tax on me to subsidize Wall St leverage and deadbeat debtors. The only place I can cut back on is dining out and travel so for those restauranteurs and hospitality industry businesses looking to reopen you might not want to bother.

    Powell seems to think I should appreciate my home value going up but I have to live somewhere so its of no use to me if my paid for house is worth $50,000 more if the house I would need to buy goes up by the same. In fact, factoring in transaction costs and moving expenses its a net negative.

    I earn almost nothing on my savings now so my income is reduced. I went to a McDonalds for the first time in long time. A Big Mac, fries and drink costs almost $10. With the wage increases McDonalds just announced I assume it will be more like $12 dollars in a year. Gas has gone up almost 20% in the past week. I don't drive a lot but I'll drive even less if those costs don't come back down and that's not likely with Biden in the White House. The only bright thing has been medical and auto insurance. They didn't go up in the recent past thanks to covid but that might be a on time event.

    I guess I have to get used to the fact that the 'system' can't wait for me to die to extract my wealth. Biden and his parasites need it now.

    Replies: @Chrisnonymous, @Audacious Epigone

    There are a lot of fat 401(k)s out there. It’s a tempting target to… uh, satisfy the needs of social justice.

  59. @Catdog
    @Charles Pewitt

    Where is it going to pop to? Every other asset is inflated too and nobody wants to be stuck holding cash.

    When I got into crypto a few years ago, I said that if I ever grew my stack to $200k I would sell it all and buy a house. Now that it's there, housing has gone up so much that it wouldn't be a very nice house anyway. If I sell the crypto now, the fiat might be inflated away and housing prices might never come down. If I hold the crypto, the crypto market might crash and the housing, again, might never come down. I wish I knew what to do.

    I think other savings-oriented people are wondering the same thing.

    Replies: @Mark G., @Audacious Epigone

    I wish you’d sold at the time of that posting and bought the house!

  60. @res
    The mystery to me is how stable the current environment of increasing inflation and historically low interest rates is.

    Currently the doctrine is something like this (emphasis mine).
    https://www.quickenloans.com/learn/federal-funds-rate

    When Does the Fed Change Interest Rates?

    When the Fed wants to stimulate the economy, it will lower the short-term funds borrowing rate. In response, banks typically lower the interest rates they charge to consumers for a variety of loans. This encourages borrowing and helps stimulate the economy because you’re able to more easily get financing for big purchases like homes and cars. Lower rates also encourage businesses to borrow money to expand and build, which stimulates the economy.

    However, there’s a flipside to this. If it’s cheaper to borrow money, this means the money you do have in the bank is worth less in comparison to a time when you might be receiving a higher interest rate. This can also lead to inflation because if money is worth less, it’s going to take more of it in order to purchase the things we want and need.

    A little bit of inflation can be a good thing because it encourages people to buy now before the price goes up. However, you want to keep inflation relatively low because you don’t want things getting out of control to the point where you’re spending $20 on a carton of eggs. For that reason, interest rates can’t stay artificially low forever.

    The fed funds rate is the Fed’s way of keeping a finger on the inflation scale.
     
    This reminds me of the 1970s and stagflation.
    https://en.wikipedia.org/wiki/Stagflation

    In the version of Keynesian macroeconomic theory that was dominant between the end of World War II and the late 1970s, inflation and recession were regarded as mutually exclusive, the relationship between the two being described by the Phillips curve. Stagflation is very costly and difficult to eradicate once it starts, both in social terms and in budget deficits.
     
    Stagflation was what happened when the Keynesian model was pushed to the limit and the assumed relationship between inflation and recession broke down.

    What happens when the MMT model is pushed to the limit? I suspect we will find out. More realistic interest rates coupled with the current debt load (both government and consumer, see PS) could become ugly.

    This links to a plot of the fed funds rate and CPI (and their difference) from 1958 to the present. I will try to embed the image as well, but suspect that won't work.
    https://fred.stlouisfed.org/graph/?g=E1Ij

    https://fred.stlouisfed.org/graph/fredgraph.png?g=E1Jj

    Notice how the FFR - CPI took a substantial dip in April from -1.6 to -2.9. There have only been two times in the last 63 years it has been that low. In March 1975 it reached -5.8 and in June 1980 it reached -4.1.

    Another interesting aspect of that graph is how ahistorical the steady value of around -2 during Obama's second term was.

    P.S. Here is a plot of Federal and household debt as a percentage of GDP. Don't know why the household series only goes back to 2005 when a dollar value version (CMDEBT) goes back to 1945 (might be worth downloading that data and computing GDP ratio).
    https://fred.stlouisfed.org/graph/?g=E1Kt
    Notice that federal debt went from 61% to 99% during Obama's first term. Truly impressive. The only thing similar was WWII (even worse). Notice how the federal debt was only a little over 30% during the 1975 and 1980 points mentioned above. High interest rates are very different with that amount of debt compared to the 106% of 2019. Not to mention the around 130% values we see in 2020. I don't see the 2020 values with the above link, so here is the actual series through Q4 2020.
    https://fred.stlouisfed.org/series/GFDEGDQ188S
    We are going to be paying for the COVID-19 debacle for a long time.

    Replies: @Audacious Epigone

    More realistic interest rates coupled with the current debt load (both government and consumer, see PS) could become ugly.

    That’s an understatement to put it mildly. It will become absolutely hideous, a horror show. People will be upside down on cars, houses, and every other financed purchase you can think of.

  61. @A123
    @prime noticer


    no President can afford to turn it off. guaranteed one term if they do.... it’s already responsible for one of the worst jobs reports in US history. and that’s just one month of paying people to not work.
     
    Biden is an Elite Catholic, so there is another group you need to blame in addition to the others. Or, you could just blame Elites, without attributing them to a group. That would be easier & in most ways more accurate.

    Getting beyond that... A number of things you point out about the economics is correct.

    Paying people not to work is a fiasco. It is strangling business that use entry level workers. With unknown numbers of customers, "tips" based jobs are also unattractive vs. taking the guaranteed money. There needs to be a predictable and sizable step between "working for pay" and the much easier "paid not to work".
    ______

    It would be a larger more complicated article, but a better headline is:

    Everything Is Going Up Because All Currencies Are Going Down

    Tne global nature of capital creates odd effects between the #1 currency USD and the #2 currency EUR. With EUR at negative interest rates there are huge motivations to transfer wealth EUR/USD as negative interest is effectively a tax.

    The Swiss Franc CHF went through severe problems a few years ago and established currency controls to keep EUR/CHF plays from damaging Swiss exports via over valuation.

    The great unwind from WUHAN-19 policy errors will be much more widespread than the just the U.S. Numerous other nations, many in Europe, are worse off than the U.S.

    PEACE 😇

    Replies: @Getaclue, @Twinkie, @Audacious Epigone

    The dollar has a lot further to fall than any other fiat currency does, though. That comes with the territory of having been the world’s reserve currency once it no longer is.

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