Let me start off by saying I'm no Tribalist. I ditched the reservation decades ago. When I look at the mind numbing incompetence throughout the Biden Regime I've asked myself: "Are these people stupid or just plain evil?" Seriously, a monkey with a 50% chance of being correct has a better record than this Regime. A recent report authored by economist Steve Moore helped me connect the dots.
It turns out that 62% of Biden’s officials have zero years of business experience. Only 12% of the officials have more than minimal business experience. I'm going to sound a little elitist here, but if you haven't been responsible for funding a payroll you simply don't know business. We're stuck with a Regime full of ideologues with no business experience. In other words, its a regime full of the Swampiest of Swamp Creatures. Trump said he was going to drain the Swamp and the Creatures said "Not today Satan." Revenge of the Ideological Nerds has ushered in this era of Peak Stupidity.
Question is: "are we having fun yet?" I think its safe to say there will be plenty more fun to be had :-)
My assessment of the Fed's choices: 1) A deflationary depression or 2) A hyperinflationary depression. A deflationary depression would destroy debtors, including the US government, while a hyperinflationary depression would destroy the dollar and most of the lower 90% of the populace.
Personally I think the deflationary depression would be less harmful in the long run, but the screams of immediate pain will almost certainly push the Fed toward the hyperinflationary path, even as they protest that they are compelled that way by events beyond their control.
In the immediate future they will seek a (nonexistent) happy medium between the two, but I believe that option disappeared a long time ago.
If I were a betting man (and I am) I would bet that the Fed will leave interest rates alone for at least another 30-60 days. Just to see if it will give the economy a little boost. If not, we may see what Armageddon looks like . The markets are as jittery as jello and it won't take much to start a screaming race for the exits. But, I have seen worse. Warren makes her self noted and Jerome lets it slide. Or not!!
I have always told my kids to not call other people names, but I must admit the “blockhead” comment about Elizabeth Warren is not only spot on, but so satisfying to hear....thank you Bill for calling a spade a spade...
Yes Bill, Walmarts here in NC changed store hours from 6am/midnight to 7am/7pm, causing quite a stir.
Most low level paying jobs have been impossible to fill, due to many of these employees working from home and changing/finding new careers. I'm sure this happened across America. Big reduction in hours means big reduction in numbers.
Fed will increase .50/.75 next week and may give the Biden administration a break in the Fall, helping the market to recover a few points before a .75/1.00 increase in December.
The coming collapse should start in the beginning of next year. Plenty of time to prepare :|
Your daughter sounds pretty wise to me.With govt giving every citizen and non citizen free healthcare,it's diluting the care we receive.Doctors so overloaded,they work like an assembly line,with little time to treat patients.So,good that your daughter is using the internet to learn and hopefully do some self care.
As a nation, we can tolerate high levels of inflation, keep it coming. As a nation, we have great confidence in what’s his name? Pile? I mean, Powell! Yeah.
Today and tomorrow, the future looks bright and promising, vanilla skies and white picket fences!
Hahaha! Go buy a lottery ticket or something, Texas & South Carolina, lucky states. 😂😂😂
Gold stocks up today,in spite of gold down.The largest 3 miners,Barrick,Newmont and Agnico Eagle stock prices all hit 2 year lows yesterday.This in the face of inflation near 20% and a spoiled/entitled electorate,not going to allow the Fed to actually reduce inflation to anywhere near 2%(aka 6% actual).
Let me start off by saying I'm no Tribalist. I ditched the reservation decades ago. When I look at the mind numbing incompetence throughout the Biden Regime I've asked myself: "Are these people stupid or just plain evil?" Seriously, a monkey with a 50% chance of being correct has a better record than this Regime. A recent report authored by economist Steve Moore helped me connect the dots.
It turns out that 62% of Biden’s officials have zero years of business experience. Only 12% of the officials have more than minimal business experience. I'm going to sound a little elitist here, but if you haven't been responsible for funding a payroll you simply don't know business. We're stuck with a Regime full of ideologues with no business experience. In other words, its a regime full of the Swampiest of Swamp Creatures. Trump said he was going to drain the Swamp and the Creatures said "Not today Satan." Revenge of the Ideological Nerds has ushered in this era of Peak Stupidity.
Question is: "are we having fun yet?" I think its safe to say there will be plenty more fun to be had :-)
"…the ‘wage-price spiral’ that troubles central bankers’ sleep". I don't think anything that hurts us plebes bothers them in any way whatsoever.
My assessment of the Fed's choices: 1) A deflationary depression or 2) A hyperinflationary depression. A deflationary depression would destroy debtors, including the US government, while a hyperinflationary depression would destroy the dollar and most of the lower 90% of the populace.
Personally I think the deflationary depression would be less harmful in the long run, but the screams of immediate pain will almost certainly push the Fed toward the hyperinflationary path, even as they protest that they are compelled that way by events beyond their control.
In the immediate future they will seek a (nonexistent) happy medium between the two, but I believe that option disappeared a long time ago.
If I were a betting man (and I am) I would bet that the Fed will leave interest rates alone for at least another 30-60 days. Just to see if it will give the economy a little boost. If not, we may see what Armageddon looks like . The markets are as jittery as jello and it won't take much to start a screaming race for the exits. But, I have seen worse. Warren makes her self noted and Jerome lets it slide. Or not!!
Just sayin'.
Don Harrell
I thought these advertisements were not allowed?????
I have always told my kids to not call other people names, but I must admit the “blockhead” comment about Elizabeth Warren is not only spot on, but so satisfying to hear....thank you Bill for calling a spade a spade...
Get your gender identification adjectives right, Bill. Elizabeth Warren is a ginnieass; not a jackass
Yes Bill, Walmarts here in NC changed store hours from 6am/midnight to 7am/7pm, causing quite a stir.
Most low level paying jobs have been impossible to fill, due to many of these employees working from home and changing/finding new careers. I'm sure this happened across America. Big reduction in hours means big reduction in numbers.
Fed will increase .50/.75 next week and may give the Biden administration a break in the Fall, helping the market to recover a few points before a .75/1.00 increase in December.
The coming collapse should start in the beginning of next year. Plenty of time to prepare :|
Bill:
One of your best, and certainly most timely. It still seems incredible that we've reached this point, but we have. Poor us.
Yes, I agree with Bill 100% this time. Well written!
A few weeks ago you wrote about the internet creating instant "experts" in about anything. My daughter is now "doctoring" herself.
How can I find that musing?
Russ Singleton, Retired Army Lieutenat Colonel
Your daughter sounds pretty wise to me.With govt giving every citizen and non citizen free healthcare,it's diluting the care we receive.Doctors so overloaded,they work like an assembly line,with little time to treat patients.So,good that your daughter is using the internet to learn and hopefully do some self care.
As a nation, we can tolerate high levels of inflation, keep it coming. As a nation, we have great confidence in what’s his name? Pile? I mean, Powell! Yeah.
Today and tomorrow, the future looks bright and promising, vanilla skies and white picket fences!
Hahaha! Go buy a lottery ticket or something, Texas & South Carolina, lucky states. 😂😂😂
Nice! The CEO should write it off as a work related expense! Morale training or something!
Regardless of how many anyone buys, you only need one ticket to win! 😂
Au wins the Au medal for correctly discounting inflation 2 years in advance thus confirming that inflation would be 'transiitory!".
Even as of yesterday Au was valued @ 90% of its inflation adjusted 1930 commodity value.
If he's Bonanza Bill, who is playing Hoss? The man from Laramie?
Gold stocks up today,in spite of gold down.The largest 3 miners,Barrick,Newmont and Agnico Eagle stock prices all hit 2 year lows yesterday.This in the face of inflation near 20% and a spoiled/entitled electorate,not going to allow the Fed to actually reduce inflation to anywhere near 2%(aka 6% actual).
I noticed that,,maybe a big up day for gold coming. You should read Toms gold report
Yes , agreed something like you said above re fed...but maybe a bank going bankrupt and having to be bailed out
Capitalized, with fake money, was just saying as an example, agree with what you say.