Here's a recent quote from Mary Daly, San Francisco Fed President. "I don't feel the pain of inflation anymore. I see prices rising but I have enough... I sometimes balk at the price of things, but I don't find myself in a space where I have to make tradeoffs because I have enough, and many Americans have enough." Mary gets paid $422,900 a year to counterfeit Benjamins and rig interest rates. The Fed's waged economic repression against savers since the great recession and now its perennial inflation time. Another horrible Marie Antoinette impersonation from our Self-Professed Expert Class. I've been saying this way too often: "Damn, you just can't make this shit up."
739 billion is the 1st tranche of a 2 trillion tranche inflation stabilizing package.
How do you cure a hangover? Drink more alcohol the next day! 😂 You fix inflation by printing more money!
A recession you say? Nope, more like a progression. “Go go go, go Johnny go, Johnny be good”. In the green baby! Power hour moves the tower, August is the start of market paradise, and all them high rollers big players slowing down the monthly trading volume because they are sipping on margaritas on a Floridian beach are going to miss out on some serious dough! 😂🤪
Drink the kool aid Charlie, this one comes with extra sweetener! Artifical with no extensions! 🤩
BPR's Gold Report and recent Dollar Report are must reading; print them off and highlight them. Their plan of action is clear and strong.
PGV, please don't distract with useless, divisive rhetorical questions. Weak men make bad laws, leading to poverty and disorder. BPR's stated purpose is to help those who will be helped to weather the coming years of storm in relative safety and help a few others. Their plan of action is clear and strong.
I've skipped over your comments for the past few months. Reading one today was a mistake that I will not repeat.
I'm thinking a rhetorical question, by its very nature, should not be divisive. Perhaps I'm wrong.
Your first two paragraphs are 100% spot-on, with the exception I mentioned above. However, skipping a fellow poster's comments because you don't like the individual, their tone or with whom you consistently disagree? Wow. THAT sounds like a maturity issue and remaining closeminded and/or ignorant is not a good way to go through life.
On this and in the comment sections of other thoughtful sites, I read posts regularly from people I recognize and absolutely disagree with on virtually every subject. It is a great way to expand myself even though I surely wouldn't like them at all if we were to ever meet in person. Knowledge is power, even if it is incorrect. Often wrong knowledge can be more valuable to possess if you KNOW it is wrong.
Maybe I'm not old enough or stagnant enough to believe that everything I think is 100% right all the time and everything another particular individual thinks is 100% wrong all the time. I'll stick with trying to learn and grow - even when that means reading and contemplating what someone I vehemently disagree with has to say...
Well said, StarboardEdge, and valid points. I love hearing and discussing conflicting opinions. I've been wrong dozens of times. (That may be a conservative estimate.)
However, some people are unlearners, and I think the stakes are too high to spend time with their distractions in this forum.
Life is funny...how can you ever be right, if every bit of information given to you since birth has been wrong? Life is funny like that, but it's up to you my brothers(and a few sisters) to figure out! Chess any one?
On a fixed income you can also add property taxes insurance and fees on just about every thing you think you own it appears to me you are only renting it from the feds county state city and you are responsible for the upkeep and maintenance speeding up the possibility bankruptcy will put you into homelessness this is my first post Nevin Armstrong
Is it time that we insist that both houses, Senate & House of Representatives, be decreased by no less than 1/2; plus their beautiful retirement packages reduced again by 1/2. Too many vultures in the wings! Helen
That is why I advocated that Congress be limited to only two terms (12 years). Currently, the House of Representive has up to six terms (36 years) The Senate has, as you know, two terms. I tried to find out what they were paid, as well as their tenure, but no luck. It's probably a retirement home for some of them. It would be interesting to fine out each one's tenure, salary and what they have contributed to their job.
It is my understanding that there are currently no term limits for either the U.S. House of Representatives (unlimited terms, elected every 2 years), or the U.S. Senate (unlimited terms, elected every 6 years, one third of the 100 member body coming up for election every two years). Perhaps you were referring to term limits in some state legislature?
Some of those federal fossils have been there a very long time. For example, Wikipedia shows a gentleman from Michigan as a 59 year veteran of the Senate. Nancy Pelosi is in her 18th term in the House of Representatives.
Bill - beautifully written as ever but I’m counting my luck that I’m on the ground floor with no implements sharper than a spoon to hand so please, please, alongside the telling us how it is give us some hope as to how to endure this crap and deliver what i think most folk want which is to work hard and live their lives how they and their families want.
I am assuming that is a question posed to all BPR members, so first, if you don't get inflation under control the rest will go to hell in a hand basket. I would - 1. ask Powell and his cohorts to step down and let Yellen go. Appoint a new Fed Reserve Board and explain that until further notice, their single purpose in life is to control inflation. It also signals we are done with rewarding failure. If the new Board doesn't get it right, and right from the get go, start over with someone else. Let the QE run off completely. Take it out of their tool box for use. Forever. Continue raising rates until inflation stops going up. Then let the rates wring the excesses out of the system before ever considering easing again. 2. On the Administration side, stop all new spending and credits, subsidies etc in lieu of spending. Period. For example, 50 billion for the chip making subsidies. That is a bill that just makes politicians feel good about dealing with China. Can you think of why an industry like chip makers, need a hand out to help them make money. Another example, the IRA. Explain to the American people it is money we do not have. It is not to "fund the government" it is a wish list. Nothing bad will happen if none of it is spent. Nothing happened when the 5 trillion, and then 3.5 Green New Deal didn't happen. And 3. on the supply side, because energy is the driver of virtually every component of our economy, get out of their way of their producing and supplying our energy needs - and for good measure introduce legislation that takes the regulation of the economy out of the purview of the EPA. The rest will fall into place. 3 simple things. If congress tries to step in and introduce legislation that is inconsistent with reducing inflation, veto the legislation. Ike did it a lot, not sure about the number, I was young then and didn’t keep track – as I recall way over 100 times.
How about we work on balancing the federal budget? Or is that too much to ask. Is it too late for that? I can't and haven't run my life with exorbitant debts that i could never pay back so how is it we allow the elected federal clowns to continue to do that very thing...? This operation of the Federal budget is insane. But the gov't will give me Xanax so it doesnt seem so bad... Well even with Xanax, it's still looks like a train wreck... I think my bolt hole will be outside the ole' USA sad to say that...
It doesn't really matter what they would do. They have no power. All they can do is guide us in trying to financially counter what is happening, although even this is nearly impossible. By the way, from reading what you write on a regular basis I would be shocked if you are in favor of the so-called Inflation Reduction Act.
Yes PG my friend, it really doesn't matter what Bill, Joel, Tom or Dan does. They are getting paid to guide us, not our nation. It's what we can do together that will make a difference.
We need another get together in Washington, 1 million strong and fully armed Americans. We will know Antifa(the original instigators on Jan6th) when we see them and those spoiled little mental midgets will be easily dealt with first. Then we will politely explain the Constitution of these United States to our so called law makers.
It's up to us to save our Republic from becoming the banana republic it is becoming.
It may be time to organize before this insane and senile administration start another world war.....our current host will be amusingly watching from afar while we regret not taking a stand while we had the opportunity.
The ruling class are the foxes who happily lie and manipulate the sheep. Bill is no fox and your hypothetical is irrelevant. If you don’t like foxes, be a lion and eat a few.
Here's a recent quote from Mary Daly, San Francisco Fed President. "I don't feel the pain of inflation anymore. I see prices rising but I have enough... I sometimes balk at the price of things, but I don't find myself in a space where I have to make tradeoffs because I have enough, and many Americans have enough." Mary gets paid $422,900 a year to counterfeit Benjamins and rig interest rates. The Fed's waged economic repression against savers since the great recession and now its perennial inflation time. Another horrible Marie Antoinette impersonation from our Self-Professed Expert Class. I've been saying this way too often: "Damn, you just can't make this shit up."
739 billion is the 1st tranche of a 2 trillion tranche inflation stabilizing package.
How do you cure a hangover? Drink more alcohol the next day! 😂 You fix inflation by printing more money!
A recession you say? Nope, more like a progression. “Go go go, go Johnny go, Johnny be good”. In the green baby! Power hour moves the tower, August is the start of market paradise, and all them high rollers big players slowing down the monthly trading volume because they are sipping on margaritas on a Floridian beach are going to miss out on some serious dough! 😂🤪
Drink the kool aid Charlie, this one comes with extra sweetener! Artifical with no extensions! 🤩
BPR's Gold Report and recent Dollar Report are must reading; print them off and highlight them. Their plan of action is clear and strong.
PGV, please don't distract with useless, divisive rhetorical questions. Weak men make bad laws, leading to poverty and disorder. BPR's stated purpose is to help those who will be helped to weather the coming years of storm in relative safety and help a few others. Their plan of action is clear and strong.
I've skipped over your comments for the past few months. Reading one today was a mistake that I will not repeat.
All the best to you, though.
Hi Jonathan -
I'm thinking a rhetorical question, by its very nature, should not be divisive. Perhaps I'm wrong.
Your first two paragraphs are 100% spot-on, with the exception I mentioned above. However, skipping a fellow poster's comments because you don't like the individual, their tone or with whom you consistently disagree? Wow. THAT sounds like a maturity issue and remaining closeminded and/or ignorant is not a good way to go through life.
On this and in the comment sections of other thoughtful sites, I read posts regularly from people I recognize and absolutely disagree with on virtually every subject. It is a great way to expand myself even though I surely wouldn't like them at all if we were to ever meet in person. Knowledge is power, even if it is incorrect. Often wrong knowledge can be more valuable to possess if you KNOW it is wrong.
Maybe I'm not old enough or stagnant enough to believe that everything I think is 100% right all the time and everything another particular individual thinks is 100% wrong all the time. I'll stick with trying to learn and grow - even when that means reading and contemplating what someone I vehemently disagree with has to say...
Well said, StarboardEdge, and valid points. I love hearing and discussing conflicting opinions. I've been wrong dozens of times. (That may be a conservative estimate.)
However, some people are unlearners, and I think the stakes are too high to spend time with their distractions in this forum.
Thanks for your valuable input.
"However, some people are unlearners" Yes Jonathan, democrats are not capable of learning because of pure and simple ignorance.
Please prove me wrong!
Life is funny...how can you ever be right, if every bit of information given to you since birth has been wrong? Life is funny like that, but it's up to you my brothers(and a few sisters) to figure out! Chess any one?
On a fixed income you can also add property taxes insurance and fees on just about every thing you think you own it appears to me you are only renting it from the feds county state city and you are responsible for the upkeep and maintenance speeding up the possibility bankruptcy will put you into homelessness this is my first post Nevin Armstrong
Hi Nevin -
Embrace Punctuation.
Just a thought.
PS - I have a great friend also named Nevin. I thought he might have been the only one...
Is it time that we insist that both houses, Senate & House of Representatives, be decreased by no less than 1/2; plus their beautiful retirement packages reduced again by 1/2. Too many vultures in the wings! Helen
That is why I advocated that Congress be limited to only two terms (12 years). Currently, the House of Representive has up to six terms (36 years) The Senate has, as you know, two terms. I tried to find out what they were paid, as well as their tenure, but no luck. It's probably a retirement home for some of them. It would be interesting to fine out each one's tenure, salary and what they have contributed to their job.
Dorothy,
It is my understanding that there are currently no term limits for either the U.S. House of Representatives (unlimited terms, elected every 2 years), or the U.S. Senate (unlimited terms, elected every 6 years, one third of the 100 member body coming up for election every two years). Perhaps you were referring to term limits in some state legislature?
Some of those federal fossils have been there a very long time. For example, Wikipedia shows a gentleman from Michigan as a 59 year veteran of the Senate. Nancy Pelosi is in her 18th term in the House of Representatives.
Bill - beautifully written as ever but I’m counting my luck that I’m on the ground floor with no implements sharper than a spoon to hand so please, please, alongside the telling us how it is give us some hope as to how to endure this crap and deliver what i think most folk want which is to work hard and live their lives how they and their families want.
Why not call the Inflation Reduction Act as subversive Quantitative Easing?
I am assuming that is a question posed to all BPR members, so first, if you don't get inflation under control the rest will go to hell in a hand basket. I would - 1. ask Powell and his cohorts to step down and let Yellen go. Appoint a new Fed Reserve Board and explain that until further notice, their single purpose in life is to control inflation. It also signals we are done with rewarding failure. If the new Board doesn't get it right, and right from the get go, start over with someone else. Let the QE run off completely. Take it out of their tool box for use. Forever. Continue raising rates until inflation stops going up. Then let the rates wring the excesses out of the system before ever considering easing again. 2. On the Administration side, stop all new spending and credits, subsidies etc in lieu of spending. Period. For example, 50 billion for the chip making subsidies. That is a bill that just makes politicians feel good about dealing with China. Can you think of why an industry like chip makers, need a hand out to help them make money. Another example, the IRA. Explain to the American people it is money we do not have. It is not to "fund the government" it is a wish list. Nothing bad will happen if none of it is spent. Nothing happened when the 5 trillion, and then 3.5 Green New Deal didn't happen. And 3. on the supply side, because energy is the driver of virtually every component of our economy, get out of their way of their producing and supplying our energy needs - and for good measure introduce legislation that takes the regulation of the economy out of the purview of the EPA. The rest will fall into place. 3 simple things. If congress tries to step in and introduce legislation that is inconsistent with reducing inflation, veto the legislation. Ike did it a lot, not sure about the number, I was young then and didn’t keep track – as I recall way over 100 times.
How about we work on balancing the federal budget? Or is that too much to ask. Is it too late for that? I can't and haven't run my life with exorbitant debts that i could never pay back so how is it we allow the elected federal clowns to continue to do that very thing...? This operation of the Federal budget is insane. But the gov't will give me Xanax so it doesnt seem so bad... Well even with Xanax, it's still looks like a train wreck... I think my bolt hole will be outside the ole' USA sad to say that...
Ron Paul wrote " End the Fed". The fed is a cancer to true conservatives. The spending would stop along with endless war.
We would run you for President. You have all the answers, all the dots connected. It’s getting tiresome.
It doesn't really matter what they would do. They have no power. All they can do is guide us in trying to financially counter what is happening, although even this is nearly impossible. By the way, from reading what you write on a regular basis I would be shocked if you are in favor of the so-called Inflation Reduction Act.
Yes PG my friend, it really doesn't matter what Bill, Joel, Tom or Dan does. They are getting paid to guide us, not our nation. It's what we can do together that will make a difference.
We need another get together in Washington, 1 million strong and fully armed Americans. We will know Antifa(the original instigators on Jan6th) when we see them and those spoiled little mental midgets will be easily dealt with first. Then we will politely explain the Constitution of these United States to our so called law makers.
It's up to us to save our Republic from becoming the banana republic it is becoming.
It may be time to organize before this insane and senile administration start another world war.....our current host will be amusingly watching from afar while we regret not taking a stand while we had the opportunity.
The ruling class are the foxes who happily lie and manipulate the sheep. Bill is no fox and your hypothetical is irrelevant. If you don’t like foxes, be a lion and eat a few.