Friday, May 24, 2024
"Mental Laziness Is More Common Than Ever: How to Overcome It"
Dan, I Allegedly, "Shrinkflation Scandal Revealed! $6 Filet-O-Fish"
"The Truth, Neutrinos, Taylor Swift, And Otto Von Bismarck"
"The Continual Rise in the Cost of Living… And Why the Fed has No Shame"
"Jay Powell did it again assuring the 1% that he has their back. Markets recovered their poise over the last 24 hours, as investors were relieved after Fed Chair Powell stuck to his recent views on the economic outlook. In his remarks yesterday, he said that recent data didn’t "materially change the overall picture" and that on inflation "it is too soon to say whether the recent readings represent more than just a bump." In addition, he reiterated that if "the economy evolves broadly as we expect, most FOMC participants see it as likely to be appropriate to begin lowering the policy rate at some point this year." So that all helped to validate market pricing, which still expects 71 bps of rate cuts from the Fed by the December meeting.
In the case of savers, retirees, wage-earners in globally impacted industries where wages haven’t kept up with the CPI, isn’t the above enough punishment? Doesn’t it actually amount to state-directed expropriation of their living standards and modest accumulated wealth? In any event, what the hell is so almighty urgent about rate cuts when the economy is still growing apace and the cumulative inflation of the last seven years has not been relieved in the slightest?
Increase In Major Cost-of-Living Components of the CPI Since January 2017
At the same time, it is highly unlikely that a return to low rates will do much for the moribund growth rates in the industrial economy, as represented here by real-value added in the nondurable goods industries. Long ago, much of US production of shoes, shirts, sheets, household supplies and the like was off-shored to lower cost venues abroad. And locking in the current inflated domestic costs levels plus another 2-3% per year going forward will not bring them back. In sum, the Fed’s fiddling with interest rates is largely irrelevant to the supply-side path of the two industries shown below, and countless more just like them.
Inflation-Adjusted Federal Funds Rate, 2001 to 2024
"Geography Is Destiny"
Bill Bonner, "New World Order"
Jim Kunstler, "Of Men and Myths"
Thursday, May 23, 2024
Canadian Prepper, "Alert! US Preps Ukraine For Nuclear Strike! China Encircles Taiwan"
Jeremiah Babe, "Prepare For An Economic Crash Landing; Markets Plunge"
"A Look to the Heavens"
“7 Best Shakespeare Insults”
"Methinks thou art a general offense, and every man should beat thee. I think thou wast created for men to breathe themselves upon you." In "All's Well That Ends Well," Lafeu hits infamous liar and coward Porolles with this blunt put-down after being finally fed up with his antics. Although, knowing Porolles and his mischievous ways, he probably deserved the jab.
"I must tell you friendly in your ear, sell when you can, you are not for all markets." Beggars can't be choosers is the modern way of getting this point across, but Shakespeare's version is far more biting. "As You Like It" showcases Shakespeare's gift of saying the meanest of things in the most eloquent ways in this insult Rosalind doles out to Phebe.
"Thou art a base, proud, shallow, beggarly, three-suited, hundred-pound, filthy worsted-stocking knave; a lily-liver'd, action-taking, whoreson, glass-gazing, superserviceable, finical rogue; one-trunk-inheriting slave; one that wouldst be a bawd in way." Possibly the most elaborate jab he has ever written, Shakespeare pulls out all the stops in "King Lear" when the Earl of Kent replies to Oswald's innocent question of, "What dost thou know me for?" with nearly every insult in the book. And if that verbal attack wasn't enough to put Oswald down, the Earl of Kent proceeds to physically beat him!
"I'll beat thee, but I should infect my hands." In Shakespeare's "Timon of Athens," protagonist Timon and his least favorite dinner companion, Apemantus, insult each other to no end in a verbal smack-down that lasts half of the scene. While Apemantus tries to rally with comebacks as cruel as, "A plague on thee! Thou are too bad to curse," it seems Timon reigns supreme with this precise one-liner.
"Away, you cut-purse rascal! You filthy bung, away! By this wine, I'll thrust my knife in your mouldy chaps, an you play the saucy cuttle with me. Away, you bottle-ale rascal! you basket-hilt stale juggler, you!" This put-down was said by prostitute Doll Tearsheet, who was notorious for having a sharp tongue, to Pistol in Act II of "Henry IV Part II."
"Thou art a boil, a plague sore, an embossed carbuncle in my corrupted blood." King Lear calls his daughter, Regan, these terrible names only to revoke his insult and promise not to punish her. Regardless of how fast he apologizes to her for his spiteful words, it's still a grade-A insult.”