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In a week we will have confirmation that January 2021 was the best month for American incomes in history, surpassing the old record set in April of 2020 at the epidemiological nadir and economic zenith of the Covid crisis.

This miraculous feat will occur in spite of record trade deficits and weekly jobless claims being 4x what they were in January 2020. Turns out there is such thing as a free lunch, or in this case free shipping containers of goods from Asia!

We have assurance that consumer price increases are under control–the CPI is still under the target rate of 2%!–and an unshakable faith in the imperviousness of the US dollar. Our elites have found the Midas Touch. Remind me why we are so upset with them, again?

It’s shameful Joe Biden is going to miss the opportunity to make the first full calendar month and first Black History Month of his administration to set yet another new record. That’s what his party campaigned on to win the special elections in Georgia, after all. March is hopeful, though. Better late than never!

 
• Category: Culture/Society, Economics • Tags: Coronavirus, Economics, Joe Biden 
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  1. neutral says:

    The magic dirt produces magic money.

  2. El Dato says:

    Can we call this the “Fauci Jolt”?

    Where is my SPACE ELEVATOR!

  3. Still haven’t cashed them since Trumpenstein’s name is on it. You know what they say about accepting gifts from shysters. I’ll wait for Joe’s.

  4. Mr. Epigone says:

    We have assurance that consumer price increases are under control–the CPI is still under the target rate of 2%!–and an unshakable faith in the imperviousness of the US dollar. Our elites have found the Midas Touch. Remind me why we are so upset with them, again?

    I say:

    All this recent clamor and unrulyness regarding interest rates and the like has begun to take on the roar of an age somewhere close to being done and over and a new age is yet to be won and the first sonofabitch who can convince the brutes that central banker shysterism is the whole ballgame shall win the day and provide cold delicious ale and porter and a green lush profitable AFFORDABLE FAMILY FORMATION future bounty for the historic American nation and the proud patriotic people of WHITE CORE AMERICA.

    The German ten year government bond yield is still below zero and all this caterwauling grows moldy and musty when the Krauts are in negative interest rate territory and the wild Dane and the rapidly advancing Hun is overrunning the land settled and colonized by Germans and the land of Germany itself.

    Germany brings up Trump and his Great Lakes Tribe of German American voters who gave Trump the victory in 2016 and Trump loves his people but sometimes Trump goes too far and he misleads his people as when he led them out of the Great Lakes area and brought them to the foggy swampy river Potomac upon which the new Rome sits squatting in the mud and Trump riled them up and they lost themselves in the wonder and magic of this Trump and they ran amok and scared the Hell out of the Ruling Class of the American Empire because once were safe and distant in their Great Lakes tribal territory were now sacking and pillaging and terrorizing like the great hordes of Germans who overran Rome 1500 years or so ago.

    Apocalypse Now:

    Zap em’ with your sirens, man! Zap em’ with your sirens!

    https://www.moviequotedb.com/movies/apocalypse-now/quote_2129.html

    Heart Of Darkness:

    In the next breath he advised me to keep enough steam on the boiler to blow the whistle in case of any trouble. `One good screech will do more for you than all your rifles. They are simple people,’ he repeated.

    https://etc.usf.edu/lit2go/99/heart-of-darkness/1689/part-2/

  5. That’s official CPI … have you gone shopping for things you actually need lately? Also, energy prices were severely distorted to the downside last year, not so much this year. M2 & M3 are going to the moon … just wait until velocity picks up as America’s chickens Dollars come home to roost.

    • Replies: @A123
  6. RUN FOR YOUR LIVES IF YOU WANT TO LIVE

    MONETARY EXTREMISM MADNESS

    THE BRUTES ARE SCARED AT 1.367!

    My modest policy proposal from January of 2020:

    Another crucial part of the WHITE CORE AMERICAN plan is to raise the federal funds rate 3 measly times to what the federal funds rate was in 1981. A small jump in the federal funds rate from the current 1.5 percent to 6 percent and then followed by a small advance to ten percent and then a little bit more to 20 percent would create the conditions where any attempt to harm WHITE CORE AMERICANS would be met with an immediate retaliatory response of a most fierce kind.

    https://www.unz.com/article/by-any-other-name/#comment-3677249

    • Replies: @El Dato
  7. Question, AE: how shall we test your forecast?

    You might recall the old saw regarding the perspicacity of the economist who had predicted 11 of the past 4 recessions. This is why I ask.

    I don’t necessarily disagree with you, but I also lack a reason to suspect that U.S. Treasury Secretary Janet Yellen or Fed Chairman Jerome Powell were nefarious, incompetent, misinformed or stupid. Unlike some officials, those two clearly state, at a general college graduate’s level of comprehension, the reasons for their policy actions; so they aren’t acting as though they had something to hide (as, say, Homeland Security Secretary Alejandro Mayorkas is). Yellen in particular is a clear communicator. Your point regarding the shipping containers is extremely well taken, yet the question still stands.

  8. A123 says:
    @The Alarmist

    More realistic CPI information can be found at:

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

    PEACE 😇
     

    • Thanks: El Dato
  9. El Dato says:
    @Charles Pewitt

    I just stumbled upon this 2013 frenchness about an inquiry concerning whether France should shut down its nukes and go for “renewables”

    The conclusion of the speaker is that this is maybe a Bad Idea and You Will Probably Be Fucked.

    Sadly, YouTube is only good at removing comments but not at providing correct translation, so only good if you know french.

    • Replies: @The Alarmist
  10. @El Dato

    I had a presentation from a virtue-signalling fund manager earlier today who was very proud to tell us about his investments in electric mobility across the entire spectrum from rare earths to charging stations, so I asked him three ESG-relevant questions:

    1) What are you doing to limit the human rights and environmental issues involved in sourcing rare earths? (A: Nothing … yet).

    2) What are you doing about power generation? What’s the point of having electric vehicles if you don’t have electricity? (A: They have investments in green energy sources). What happens when a cascading failure happens like Texas last week? (A: We have to consider that further).

    3) What are you invested in with respect to waste management? The batteries, etc. aren’t fully recyclable and are highly toxic. (A: We haven’t considered that yet).

    The Green/ESG crap is a scam that will create far more problems than it will solve, but I’m sure we’ll all feel better.

  11. Rosie says:
    @Daniel H

    They worked hard for that money, so hard for that money.

    An honest billionaire with a heart of gold? Could it be?

    https://www.marketwatch.com/story/philanthropy-is-a-pr-scam-says-ceo-who-raised-his-workers-minimum-pay-to-70-000-11614033587

  12. Dr. Doom says:

    They have to keep interest rates near zero to prevent default by FEDGOV.
    This does terrible things to the savings rates.

    UBI and helicopter money is an attempt to bribe the masses into not revolting.
    Won’t work, they never do anything that works.

    The system is delaying the inevitable. The army on the Potomac shows they know.
    Its all over but the overthrow of Zionism.

    Zionism is about to have a REALLY BAD YEAR.
    )))They((( live in an echo chamber now. LALALALALALALALA!

    HAHAHAHAHAHA!

  13. Financial markets are a cleanest dirty shirt competition at this point. (In fact, they’ve always been.)

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