Gregory Mannarino, AM 10/15/21:
"Alert! People Are Dumping Dollars As Inflation Skyrockets"
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Gregory Mannarino, PM 10/15/21:
"NOTHING Is What It Seems To Be And Nothing Is By Accident.
The Road To Serfdom And Enslavement"
So, we rise from the rubble...
Friday, October 15, 2021
"Economic Market Snapshot AM 10/15/21"
"Economic Market Snapshot AM 10/15/21"
"Capitalism is the astounding belief that the most wickedest of men will
do the most wickedest of things for the greatest good of everyone."
- John Maynard Keynes
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"The more I see of the monied classes,
the better I understand the guillotine."
- George Bernard Shaw
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MarketWatch Market Summary, Live Updates
CNN Market Data:
CNN Fear And Greed Index:
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A comprehensive, essential daily read.
October 14th to 15th, Updated Daily
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Financial Stress Index
"The OFR Financial Stress Index (OFR FSI) is a daily market-based snapshot of stress in global financial markets. It is constructed from 33 financial market variables, such as yield spreads, valuation measures, and interest rates. The OFR FSI is positive when stress levels are above average, and negative when stress levels are below average. The OFR FSI incorporates five categories of indicators: credit, equity valuation, funding, safe assets and volatility. The FSI shows stress contributions by three regions: United States, other advanced economies, and emerging markets."
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Daily Job Cuts
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Commentary, highly recommended:
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And now, the End Game...
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Greg Hunter, "Weekly News Wrap-Up 10/15/21"
"Weekly News Wrap-Up 10/15/21"
By Greg Hunter’s USAWatchdog.com
"Looks like America is waking up to fake everything. Let’s start with the fake CV19 jab mandate by the Biden Administration. Where is the Executive Order (EO)? Where is the legislation from Congress and signed by VP Biden? Guess what? It’s not there. That’s right. There is no Biden EO mandating the vax jabs. There is nothing in the Federal Register, and maybe that’s why Congresswoman Marjorie Taylor Green simply states the vax jab mandate “does not exist.” It’s totally fake and designed to herd people into getting this experimental death shot.
How about the fake FDA approval of Comirnaty? You cannot get Comirnaty in the USA, and in my opinion, you never will. Pfizer says it is totally “interchangeable” with the BioNTech CV19 injection. How can that be when one that is approved is not available (and will not have a liability shield). The one that is “approved” is only available under an extended “Emergency Use Authorization” (EUA)? The EUA means the BioNTech CV19 injection is, in fact, experimental, and the FDA specifically says the BioNTech CV19 injection “has not been approved.” (End of page 11 top of page 12) Because of the EUA, Pfizer has a liability shield against all deaths and injuries. So, I ask again, how can the Comirnaty and BioNTech CV19 injections be “interchangeable” when one is approved and one is NOT? They simply are not “interchangeable,” and the entire thing is a massive bait and switch fraud and record Nuremburg code violation.
The fake economy has been propped up so long with massive amounts of printed money inflation is now taking off. That is not fake. The fake propped up financial system is plagued with rising inflation, supply chain disruptions and a massive labor shortage, which could all lead to a gigantic collapse of the system and soon. Oh, and let’s not forget about the totally fake elections the Deep State wants desperately to keep covered up!!"
Join Greg Hunter on Rumble he talks about these
stories and more in the Weekly News Wrap-Up 10/15/21.
"Be Unshakable - Ultimate Stoic Quotes Compilation"
RedFrost Motivation,
"Be Unshakable - Ultimate Stoic Quotes Compilation"
"Powerful wisdom from Marcus Aurelius, Seneca and Epictetus"
Performed by Chris Lines
"We suffer more often in imagination than in reality.
You want to live but do you know how to live?
You are scared of dying but tell me,
is the kind of life you lead really any different to being dead?"
- Seneca
"Beef Will Now Be A 'Luxury Product', And Cheap Chicken Dinners 'Are Coming To An End'”
"Beef Will Now Be A 'Luxury Product',
And Cheap Chicken Dinners 'Are Coming To An End'”
by Michael Snyder
"The “reset economy” is coming, and it isn’t going to be very pleasant. Rather than viewing the economic chaos caused by the pandemic as a negative thing, many among the worldwide elite consider it to be a golden opportunity to fundamentally transform the global economy according to their values. As they radically reshape our economic system, one of their primary goals will be to make any products that are “bad for the environment” cost a lot more. In other words, behaviors that produce a lot of carbon emissions must be punished. That is particularly bad news for those that love to eat a lot of meat, because the production of meat is considered to be particularly “harmful” for the environment.
In recent months, you may have noticed that the price of meat has already been rising quite aggressively. This fits very well with what they are trying to do, because they want people to start eating a lot less of it. In fact, one prominent CEO was recently quoted as saying that beef is going to be “a luxury product” from now on… “Beef is not going to be super climate friendly,” Danish Crown Chief Executive Officer Jais Valeur said in an interview with Danish newspaper Berlingske. “It will be a luxury product that we eat when we want to treat ourselves.” Valeur said pork would be a more climate-friendly protein. Danish Crown is one of Europe’s largest pork producers, although it is also a player in the beef market.
So if you are accustomed to eating beef on a regular basis, I guess you are just going to be out of luck. Of course they will offer lots of “burgers” and “steaks” made out of microalgae or bugs that you can try instead.
I am afraid that chicken is on the chopping block too. The head of the biggest chicken producer in the UK just warned that the days of cheap chicken dinners “are coming to an end”… "Britain’s biggest chicken producer said that the country’s 20-year cheap food binge is ending and food price inflation could hit double digits. “The days when you could feed a family of four with a 3 pound ($4) chicken are coming to an end,” Ranjit Singh Boparan, owner of the 2 Sisters Group, said."
But don’t worry, they are working really hard to develop some squishy plant-based “chicken alternatives” that will surely have your mouth watering. These new “alternatives” won’t be cheap either, but the truth is that the price of just about everything is spiking these days. Just check out these numbers from a local CBS News report… "The price increases have hit certain industries particularly hard over the last year. Used car prices are up about 24 percent. The cost of meat has gone up 12 percent in 12 months. Home heating oil is up an estimated 43 percent. Another area on the top of many commuters’ minds: gas prices, which have risen by more than $1 a gallon."
As I discussed yesterday, heating bills are going to put a lot of financial stress on millions of American families this winter. Unfortunately, a lot of people still aren’t taking this new global energy crisis seriously enough. The truth is that this is a really, really big deal. If you doubt this, just take a look at what is already happening in India and China… "Meanwhile, Coal India, the world’s biggest coal miner, said it had temporarily stopped supplying non-power users as India battles one of its worst ever power supply deficits. China’s power crisis, caused by shortages of coal, high fuel prices and booming post-pandemic industrial demand has halted production, including at factories supplying big brands such as Apple."
Needless to say, a global energy crisis will be a perfect opportunity for the global elite to push their “green energy solutions” on all of us. In order for most people to be willing to accept a radical “solution” they often need to be faced with a major problem first, and the global elite understand this very well.
Speaking of major problems, the global supply chain crisis just continues to get worse, and one prominent executive is now warning that it could “last well into 2022”… "Dutch navigation and digital mapping company TomTom warned that supply chain problems in the auto sector could last well into 2022. “Collectively we have underestimated how big the supply chain issues, and especially for semiconductor shortages, have been or have become”, TomTom Chief Financial Officer Taco Titulaer told Reuters."
That is certainly bad news, and it looks like I will definitely have a lot to write about in the months ahead. Sadly, it appears that the Biden administration is not approaching these issues with the seriousness that they deserve. In fact, White House chief of staff Ron Klain seems to think that they are just “high class problems”… "White House chief of staff Ron Klain endorsed former Obama administration economist Jason Furman’s claim that the country’s inflation, supply chain, and other economic problems only affect a small part of the U.S. population.
Furman, the chairman of former President Barack Obama’s Council of Economic Advisers and an economics professor at Harvard University, tweeted Wednesday night that “most of the economic problems we’re facing … are high class problems.”
Really? Are empty shelves all across America a high class problem? Are soaring heating bills a high class problem? As I discussed yesterday, nearly 40 percent of all U.S. households “have faced serious financial problems” within the last few months. Is that a high class problem too?
The truth is that the stage is set for a global economic nightmare of epic proportions, and what we have experienced so far is just the tip of the iceberg. But like I said, the global elite don’t fear the changes that are happening. In fact, they intend to engineer even more change. Many of them truly believe that human activity must be very tightly constrained for the good of the planet, and so they envision a future in which our behaviors are very closely monitored, tracked and controlled.
So it may not be too long before highly advanced meters independently control the temperature levels in your home, you are not allowed to purchase certain products you used to buy because they are “bad for the environment”, and your food is made out of some of the most disgusting things imaginable. Many would consider such a society to be a “utopia”, but it sounds like an endless dystopian nightmare to me."
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Thursday, October 14, 2021
Must Watch! "Nothing Can Save This Economy - Brace For Impact; No One Is Working; Markets Rage"
Jeremiah Babe, PM 10/14/21:
"Nothing Can Save This Economy - Brace For Impact;
No One Is Working; Markets Rage"
Musical Interlude: Deuter, "Black Velvet Flirt"
Full screen recommended.
Deuter, "Black Velvet Flirt"
"A Look to the Heavens"
"A mere seven hundred light years from Earth, toward the constellation Aquarius, a sun-like star is dying. Its last few thousand years have produced the Helix Nebula (NGC 7293), a well studied and nearby example of a Planetary Nebula, typical of this final phase of stellar evolution. A total of 90 hours of exposure time have gone in to creating this expansive view of the nebula.
Combining narrow band image data from emission lines of hydrogen atoms in red and oxygen atoms in blue-green hues, it shows remarkable details of the Helix's brighter inner region about 3 light-years across. The white dot at the Helix's center is this Planetary Nebula's hot, central star. A simple looking nebula at first glance, the Helix is now understood to have a surprisingly complex geometry."
"As The Global Energy Crisis Explodes You Should Prepare Yourself For An Extremely Painful Winter"
Full screen recommended.
"As The Global Energy Crisis Explodes You Should
Prepare Yourself For An Extremely Painful Winter"
by Epic Economist
"An energy crisis of epic proportions is rapidly spreading across the globe and it will hit us where it hurts the most - in the wallet. Energy prices are traded globally, which means that price increases in one part of the planet eventually affect markets elsewhere. That's what happening now, with natural gas produced in the U.S. now heading for Europe and pushing prices to soar both here and there. As energy supplies get tighter and tighter all over the world, power bills can only go higher. In fact, the federal government is warning that Americans' heating bills will rise more than 50 percent this winter. Needless to say, millions of families won't be able to afford that.
This global power crunch has been unfolding for months, but only now the mainstream media has started to use the term “energy crisis” to describe what we are facing. Recent reports alert that "the world is entering a new energy crisis the like of which hasn’t been seen since the 1970s". On the other side of the ocean, prices for gas in Europe and Asia are at an all-time high, while oil prices are at a three-year high, and the price of coal is simply skyrocketing due to energy shortages across China, India, and Germany.
Even CNN is warning that energy prices are about to hit 'astronomical' levels. The frenzy to secure natural gas supplies is consequently pushing up the price of coal and oil, which can be used as substitutes in some cases. That's why global markets should brace for "astronomical increases in natural gas prices, skyrocketing coal costs, and predictions of $100 oil," CNN reported. These circumstances are triggering widespread alarm amongst central banks and investors. Rising energy prices are fueling inflation, which has already been a major concern for the global economy over the past year. But dynamics over the winter could make the situation even worse.
This week, economists said that U.S. consumers should "get ready to pay sharply higher bills for heating this winter, along with seemingly everything else". The U.S. government warned on Wednesday that households will see their heating bills jump as much as 54% compared to last winter, which led some economists to argue that a 54 percent increase would be the "best-case scenario". Many of them argue that prices will shoot up a lot higher than that because energy costs in America have been hitting absurd levels already. This also means that millions of families are not going to be able to afford higher energy bills, and that is going to intensify their financial struggles.
Way before the energy crisis erupted, a large portion of the U.S. population was already facing financial difficulties to pay energy bills. Another recent survey found that roughly 40 percent of all U.S. households “have faced serious financial problems” in the last few months, including struggling to afford medical care and food. Among those lower-income households, 30% reported they had lost all their savings during the recession. The survey was conducted by NPR, the Robert Wood Johnson Foundation, and the Harvard TH Chan School of Public Health, and it also showed that the percentage of households reporting acute financial problems rose to 59% in families that had an income under $50,000 a year.
Normally, such a high rate of people facing financial hardships would be an indication of rampant unemployment. But as we have been discussing in the past few videos, the U.S. is actually in the middle of one of the most dramatic shortages of workers right now. Pretty much every industry is short-staffed and this is creating a series of disruptions in our economy. Every day, more and more jobs are vacant and employers are getting increasingly desperate to find personnel. On the other hand, the vast majority of available jobs are very low-paying, and rising inflation is devaluing wages at record speed.
The latest data suggests that inflation is rising at the fastest pace in 30 years. And leading the increase in consumer prices are higher prices for food and energy, the Labor Department reported Wednesday. And now this massive energy crisis is about to take our economic problems to a whole new level while millions of Americans keep their thermostats uncomfortably low during another dark winter. Everything that we buy that requires shipping from another country or another region is going to become significantly more expensive. And as inflation spins out of control and the winter approaches, many American families are going to be forced to make some very difficult choices. We will be extremely lucky if blackouts and power outages do not happen because if something similar to what occurred in Texas last winter takes place all across the country, we will have to deal with some absolutely disastrous consequences very soon."
“'Transitory' Inflation?"
“'Transitory' Inflation?"
by Brian Maher
"The United States Department of Labor informs us: September consumer prices trampolined to the highest annual level in 13 years... to 5.4%. Energy prices are 1.3% costlier - and nearly 25% costlier since September last. Eating costs 0.9% more since last month - and 4.6% for the year. Eggs and various meats are 10.5% dearer this year. Specific meats - beef - are 17.6% dearer this year.
If it is explanation you seek, Mr. Brian Crosby of Traub Capital Partners is the man you want: "Consumer prices continue to rise, particularly as demand driven by people returning to post-vaccination life outstrips supply that is increasingly constrained by logistics and labor shortages. Escalating prices are so extravagant, the Social Security Administration is increasing its cost-of-living adjustment 5.9% next year. That is its largest annual increase in nearly 40 years. For the past 10, 1.65% has been about par.
Could Inflation Actually Be 14%? We hadn’t the heart to consult Mr. John Williams’ ShadowStats site. That is because this fellow scatters the statistical fogs — the statistical fogs government throws up to conceal true inflation. We feared a true accounting would fluster us, wobble us and diminish our already diminished spirits.
We therefore assigned a minion the task. From him, by way of Mr. Williams, we learn: The official rate runs to 5.4%, it is true. Yet if government number-manglers gauged inflation as they did in 1990, the true inflation rate goes at 9%. And if they gauged inflation by 1980’s rules? Consumer inflation races to a galloping and dollar-devouring 14% - approximately.
The Price of Victory: In 1981, still going by 1980’s rules, inflation ran to 15%. To scotch the inflationary menace, Paul Volcker manhandled the federal funds rate to an astounding 20%. He won his war, he vanquished his Hitler… though at horrific cost. The casualty lists were atrocious. The ensuing 1981–82 recession was - in fact - the greatest economic tremble since the Great Depression.
Volcker’s devastating conflict nonetheless cleared the way for subsequent boom years. Now come forward… If John Williams gives the true inflation rate, today’s 14% rate approaches 1981’s 15%.
What if Inflation Isn’t “Transitory”? Unlike 1981… today’s federal funds rate squats near zero. There it will likely remain deep into calendar year 2022. A question then dangles in the air: If inflation does not prove “transitory”... as Mr. Powell believes it will… and gallops on and on instead… how will he get his hands on it? "The key risk here is that shortages persist for longer than we anticipate and prices rise more substantially," warns Capital Economics’ Neil Shearing. "We prepare for probabilities and eventualities,” says JP Morgan CEO Jamie Dimon. “And,” he continues, “one of those probabilities is that [inflation] might go higher than people think.”
Dissension in the Ranks: Even Federal Reserve officials are beginning to cough behind their hands, anxiously, nervously. They begin to harbor severe doubts concerning the “transitory” theory. For example, Mr. Raphael Bostic, base commander of the Federal Reserve’s Atlanta garrison: "It is becoming increasingly clear that the feature of this episode that has animated price pressures - mainly the intense and widespread supply chain disruptions - will not be brief. Data from multiple sources point to these lasting longer than most initially thought. By this definition, then, the forces are not transitory."
We hazard the business would require a severe manipulation of the federal funds rate - upward. But of course our friend Powell cannot severely manipulate the federal funds rate upward.
Trapped at Zero: Even a return to historically average rates - perhaps 5% - would send the economy heaping down, wrecked and collapsed. Mr. Lance Roberts of Real Investment Advice: "The problem, however, between today and the 1970s is the massive debt and leverage levels in the U.S. economy. Thus, any significant rise in rates almost immediately leads to recessionary spats in the economy."
And a 20% rate? The very heavens would fall. We must also consider long-term rates... The United States groans under debts multiple times 1981’s debts. Servicing today’s $29 trillion debt would fracture the spine. It is only endurable now because of rates that scarcely register.
Hobson’s Choice: But inflation cannot be allowed to go amok, to trample its way through the dollar. What will Mr. Powell do if inflation endures? He may find himself hanging from the hooks of a mighty dilemma… Choke inflation… which will choke the economy... or let inflation go... which will flatten the dollar… and ultimately the economy. But we must consider this one possibility: Deeply entrenched economic forces may take this poor fellow down from his pointy hook…
A Different World: The aforesaid Lance Roberts: "Interest rates rose during three previous periods in history. During the economic/inflationary spike in the early 1860s and again during the “Golden Age” from 1900–1929. The most recent period was during the prolonged manufacturing cycle in the 1950s and ’60s. That cycle followed the end of World War II where the U.S. was the global manufacturing epicenter…
Today, the U.S. is no longer the manufacturing epicenter of the world. Labor and capital flow to the lowest-cost providers to effectively export inflation from the U.S., and deflation gets imported. Technology and productivity gains ultimately suppress labor and wage growth rates over time…"
This is not the situation presently obtaining: During the current period, real economic growth remains lackluster. In addition, real unemployment remains high, with millions of individuals simply no longer counted or resorting to part-time work to make ends meet...
One crucial difference is the rate of population growth, which, as opposed to the Depression era, has been on a steady and consistent decline since the 1950s. This decline in population growth and fertility rates will potentially lead to further economic complications as the baby boomer generation migrates into retirement and becomes a net drag on financial infrastructure.
No Upward Pressure on Rates: Must we conclude, then, Mr. Roberts, that rates will remain squelched?: "Interest rates are ultimately a reflection of economic growth, inflation and monetary velocity. Therefore, given the globe is awash in deflation, caused by weak economic output and exceedingly low levels of monetary velocity, there is no pressure to push rates sustainably higher… Rates rise in conjunction with more substantial levels of economic growth. Such is because more substantial growth leads to higher wages and inflation, causing rates to rise accordingly…"
In conclusion: Today, despite trillions of dollars of interventions, zero interest rates and numerous bailouts, the economy has yet to gain any real traction, particularly on “Main Street”... The catalysts needed to create the economic growth required to drive interest rates substantially higher, as we saw previous to 1980, are not available today. Such will be the case for decades to come.
The Good and the Bad: Here then is the positive news, assuming this analysis holds the water in: Inflation will go back in its cage once fractured supply chains undergo relinking. Interest rates will not go skyshooting. They will not send the economy careening along opposite trajectories. But with the honey come the aloes, with the sweet comes the bitter...The future may instead be a marathon run of struggling growth, of stagnating incomes, of economic languishing. That is, we may confront a future not of sudden collapse but of gray and twilight. Of habitual malaise... Of a dank and drizzly November... month upon month… year upon year. Which is worse?"
“The History of the Middle Finger”
“The History of the Middle Finger”
by pappy
“Well, now… here’s something I never knew before, and now that I know it, I feel compelled to send it on to my more intelligent friends in the hope that they, too, will feel edified.
Before the Battle of Agincourt in 1415, the French, anticipating victory over the English, proposed to cut off the middle finger of all captured English soldiers. Without the middle finger it would be impossible to draw the renowned English longbow and therefore they would be incapable of fighting in the future. This famous English longbow was made of the native English Yew tree, and the act of drawing the longbow was known as ‘plucking the yew’ (or ‘pluck yew’).
Much to the bewilderment of the French, the English won a major upset and they began mocking the French by waving their middle fingers at the defeated French, saying, “See, we can still pluck yew!” Since ‘pluck yew’ is rather difficult to say, the difficult consonant cluster at the beginning has gradually changed to a labiodentalfricative ‘F’, and thus the words often used in conjunction with the one-finger-salute! It is also because of the pheasant feathers on the arrows used with the longbow that the symbolic gesture is known as ‘giving the bird.’”
"Fate. Luck. Chance"
“That is life, isn’t it? Fate. Luck. Chance. A long series of what-if’s that lead from one moment to the next, time never pausing for you to catch your breath, to make sense of the cards that have been handed to you. And all you can do is play your cards and hope for the best, because in the end, it all comes back to those three basics. Fate. Luck. Chance.”
- Kelseyleigh Reber
“Unless, of course, there’s no such thing as chance… in which case, we should either - optimistically - get up and cheer, because if everything is planned in advance, then we all have a meaning and are spared the terror of knowing ourselves to be random, without a why; or else, of course, we might - as pessimists - give up right here and now, understanding the futility of thought-decision-action, since nothing we think makes any difference anyway, things will be as they will. Where, then, is optimism? In fate or in chaos?”
- Salman Rushdie
"Our Great Adversary..."
“Whether the mask is labeled fascism, democracy, or dictatorship of the proletariat, our great adversary remains the apparatus - the bureaucracy, the police, the military. Not the one facing us across the frontier of the battle lines, which is not so much our enemy as our brothers’ enemy, but the one that calls itself our protector and makes us its slaves. No matter what the circumstances, the worst betrayal will always be to subordinate ourselves to this apparatus and to trample underfoot, in its service, all human values in ourselves and in others.”
- Simone Weil, French philosopher and political activist.
"Is Transitory Inflation Here to Stay?"
"Is Transitory Inflation Here to Stay?"
By Bill Bonner
"When a government loses its legitimacy,
its only recourse is authoritarianism."
– Dear Reader Craig W.
BALTIMORE, MARYLAND – "Yes… we’re cantering across the broad pampas… looking for tomorrow’s headlines. And what’s this? Today’s headlines already have a tango beat. Here’s The Wall Street Journal: "Accelerating Inflation Spreads Through the Economy." "U.S. inflation accelerated last month and remained at its highest rate in over a decade, with price increases from pandemic-related labor and materials shortages rippling through the economy.
The Labor Department said last month’s consumer-price index, which measures what consumers pay for goods and services, rose by 5.4% from a year earlier, in unadjusted terms. That is the same rate as in June and July as the economy reopened, and slightly higher than in August. The so-called core price index, which excludes the often-volatile categories of food and energy, in September climbed 4% from a year earlier, the same rate as in August.
On a monthly basis, the CPI rose a seasonally adjusted 0.4% in September from August, also faster than in August, which rose 0.3%.
[…]
“It looks like some of these supply-chain and inventory challenges are going to stick with us for a bit longer – at least through the rest of this year,” said Omair Sharif, founder of Inflation Insights LLC."
So much for inflation being “transitory,” as the Federal Reserve has claimed. Here’s Breitbart: "Federal Reserve Bank of Atlanta President Raphael Bostic said Tuesday that inflation is likely to last longer than expected and should no longer be called “transitory.”
Bostic is the first Fed official to so clearly break from the central bank’s leadership on inflation. Fed chair Jerome Powell has insisted for months on describing inflation as transitory, although he recently admitted that it could last into next year. The Biden administration has also repeatedly claimed, without evidence, that inflation would only be transitory.
[…]
Bostic argued that the word “episodic” better describes pandemic-induced price swings than “transitory.” He said he still believes that the price hikes are tied to the supply chain disruptions stemming from the pandemic and will eventually unwind as the global economy adjusts. But it is becoming increasingly clear that the intense and widespread supply chain disruptions will not be brief, Bostic said."
Buying Votes: Yesterday, we saw what happens when inflation gets worse. Hungry mobs are butchering cattle in the streets of Buenos Aires… "but the World Bank says Argentine inflation probably won’t go beyond 50% per year."
(The World Bank’s role is to support the corrupt elites who run the world’s nations. It was set up in 1944 by Harry Dexter White, who was later accused of being a Soviet spy. Running the institution has been a sinecure for disgraced scalawags ever since, including Robert McNamara, after making such a success of the Vietnam war, and Paul Wolfowitz, after getting the U.S. into a war with Iraq.)
And here’s another recent headline with an eerie “coming soon to theaters near you” feel to it from Bloomberg: "Argentina Accelerates Money Printing Ahead of November Elections." "Central bank financing of the government reached 250 billion pesos ($2.5 billion) in the first 22 days of September, the most of any month this year, according to central bank data published Tuesday. With the government cut off from international credit, the central bank helps meet the shortfall by creating pesos and transferring them to the treasury."
No! Really? Thank God U.S. politicians are not so craven… so reckless… or so single-minded in their pursuit of power and money. At least, we can count on them not to print more money just to try to curry favor with the swing voters.
But wait… According to Bloomberg, Argentina’s “primary fiscal deficit” is only 4% of GDP in 2021. In the U.S., it’s headed for $3 trillion – over 13% of GDP. Who’s the spendthrift?
Puzzling Questions: Now emerging in this rich Argentine topsoil, like a toxic mushroom behind an antique oak… may be an answer to some puzzling questions: Why are the U.S. and most European countries – along with much of the rest of the world, including Japan – all following the same trends… the same arc of history… the same policies – even though they appear to be leading to bankruptcy and chaos?
Why is the U.S. elite so eager to control our money… our movements… and even our speech? Why are growth rates falling in the U.S… when we have more capital, more patents, more new technology, more smart, educated young people… and more stimulus… than ever before? Tune in tomorrow as we take a bite of the mushroom."
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"The Economy is Cratering Back to the Dark Ages"
Full screen recommended.
Dan, iAllegedly, AM 10/14/21:
"The Economy is Cratering Back to the Dark Ages"
"There are three areas of the economy where we got more bad news. The consumer price index has hit its highest level since 1991, almost 5.4%. Peoples wages are down and the number of home mortgages are decreasing in complete loans."
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