Good thing our illustrious government wonks changed their methodology for computing CPI. If they used the same methodology in place 40 years ago inflation would be at 15.2%. Can't have that now can we. Hum, 15.2% seems to align with my personal experiences. Must be a coincidence :-) What would we do without our big beautiful government? Who would build the roads and manage our economy. My God, it would be total anarchy! Way past time to divorce Washington, D.C. Its secession time :-)
Yes, Twitter was actually playing the role of Ministry of Truth. The FBI actively interfered in a presidential election to get their stooge in office. As you point out, most folks will never learn of this because they're too cheap to buy real news and only rely on free MSM propaganda. We passed the Rubicon long ago and there's no fixing this. This government needs to die or be killed, and the sooner the better. As the old saying goes; absolute power absolutely corrupts.
Yes they do. They also have access to your emails, texts, voicemail messages, phone calls, etc. Don't lose sight of the fact that it was the Republicans who granted them this power :-)
Garland and Wray were the first "all in" the bag for Biden. Without those two goons, he would be in a whole heap of trouble. Can you imagine what a Special Counsel investigation of Hunter, James and ultimately Joe Biden would uncover? It would make the CIA's involvement with the Kennedy assassination look like an honest mistake.
I read once that an insurance guy figured that there was about $17 trillion in the "social security " trust fund when Johnson pulled all that money into the "general fund" in order to finance the War on Poverty. Now here we are 68 years later and we have spent approximately $25 trillion on it and we still have poverty and importing more across our southern border. How do we pull ourselves out of poverty when we import and steal from other funds and it is still not enough? I am not good with numbers, but I think the War on Poverty was acclaimed a catastrophe by all measures. We need a Jubilee Year like they had in the Old Testament. Forgive all debt and start over. Just sayin'
I think we’d end up with social unrest for two reasons. A lack of justice and forgiveness. Justice in the sense that those who got (government borrowing, student loans, car loans, credit cards, overdrafts, home loans... debt both rational and reckless in general) should feel some sort of pain. Forgiveness on the part of those who managed their finances conservatively but now have to carry on regardless.
Yes bro, 17% black born out of wedlock pre 1964, 3-5% white and not enough Spanish back then to consider.
Now, 75% black, 50% Spanish and 35% white born out of wedlock. Yes brother, the game is over, it's now up to the creators of this insanity on how to divide the spoils amongst themselves...
Bill your understanding of our present day in historical context is much appreciated. The thing that sometimes confuses is "The Fed" or the Feds I' m never really sure until I devout some thought to the matter which is which. I suppose they are one in the same joined at the hip reminding me of an commercial airline pilot I once was introduced to who quipped; " its one thing when your being f........kd and not know who's doing the f......king its all together different, when you know how your being f....ckd and who's doing the f....king.
In the "Money for 'Nuthin'" section you mention that some whould take 'hammer and chisel' to attack the economy. Those who would follow that path have actually been picking up a "hammer and sickle"!
According to the progressive wing of the Democratic Party, a key cause of our inflation is "corporate greed". Big companies are making too much money! The progressive solution -- government targeted price controls, an excess profits tax, and vigorous enforcement of antitrust rules to breakup the large companies. We MUST keep these crazy people from implementing their program! Our good thing about Powell and Yellen is that they appear to reject this stuff!
The US needs to borrow trillions and trillions from China and EU to finance the economy and government spending agenda. Then we can print additional trillions and trillions of dollars to offset the global loans and build a stronger global credit line in order to borrow more money from other countries while securing the loans through Made in America collateral money printing 😃 while we continue to circulate and build the quadrillion dollar “house of cards” that will upend the entire financial global system. 😂
The term trillion should be replaced with quadrillion before the end of 2025. It’s like borrowing 10 bucks back in the day, that made sense, but now if you need a quick fix you ask someone if you can borrow $100 bucks, that’s like pennies on the dollar in today’s value. 😂
I bet “they” are all in a room, planning their next move, and listening to some Jim Morrison, 😂 I love the “cancel my subscription” part of the tune, but they changed the lyrics to “Netflix” right before it crashed and went straight to hell! 😂
One of the problems with inflation, is that by the time it gets here no-one can remember what, or who, caused it, given that your average punter can't think back more than about 5 years. So we'll keep repeating the exercise, assuming we get out of the current mess in anything like reasonable shape. Do like the Willy Wonka comment - very apt
You should enlarge the scope of your indictment. A book I highly recommend is Tom DiLorenzo’s “Organized Crime: The Unvarnished Truth About Government” (2012). Both the table of contents and the index are exceptionally useful when you can’t resist bashing friends who still get misty when talking about their first trip to Washington, D. C.
I had the misfortune of reading the “creature from Jekyll Island”. This was about 10 years ago. If that book does not open your eyes, you are really not trying. I like DeLorenzo as well, I just have not read the one you were talking about. Thanks!
Recently retired, DiLorenzo taught for decades at Loyola University in Baltimore. I’ve had the pleasure of meeting him. Two of his other books from which I’ve very much profited are “Hamilton’s Curse: How Jefferson’s Archenemy Betrayed the American Revolution—and What It Means for America Today” (2008) and “The Politically Incorrect Guide to Economics” (2022).
Here’s a key paragraph from “Hamilton’s Curse”:
“But that life [i. e., in the Jeffersonian states’ rights tradition] was snuffed out completely in one revolutionary year, 1913. During that one year three sweeping changes occurred: the Seventeenth Amendment to the Constitution was ratified, and so for the first time U. S. senators would be directly elected rather than appointed to office by state legislatures; the federal income tax was adopted; and the Federal Reserve System was created. All three institutions almost completely centralized power in Washington and constituted the death blow to the old Jeffersonian tradition in American politics—and the final, decisive victory for the Hamiltonians. Hamilton’s totally centralized government, with an increasingly arrogant chief executive who could bully and manipulate the governors and legislatures of the states (as well as their citizens), was finally realized 126 years after he first enunciated his plan at the Constitutional Convention. The world would soon discover that national borders would not limit the bullying, interventionist proclivities of American presidents.”
I'm familiar with DiLorenzo through his affiliation with the Mises Institute. Love, love, love how DiLorenzo puts miscreants such as Wilson, Lincoln, and FDR in their proper place :-) Just like Mises and Rothbard before him, Thomas DiLorenzo is no friend of the State. No friend of the State is a friend of mine :-)
Have I mentioned that DiLorenzo’s little book “The Problem with Socialism” (2016) and his “Politically Incorrect Guide . . . “ make great gifts for young folks who’ve been dosed at America’s propaganda mills—that is, our “elite” colleges and universities? Here’s the opening paragraph of “The Problem of Socialism”:
“A quarter of a century after the spectacular collapse of socialism in the Soviet empire, a large segment of the ‘millennial’ generation of young Americans (those born between 1982 and 2004) thinks socialism may be the wave of their future. A 2015 ‘yougov.com’ poll revealed that 43 percent of Americans between the ages of eighteen and twenty-nine had a ‘favorable’ opinion of socialism and that they have a higher opinion of socialism than they do of capitalism. (Who says the public schools are not teaching the kids much these days?)”
Well said: "Economics is Willy Wonka's Chocolate Factory and a maze of turning wheels and a big mess."
Your comment reminded me of an occasional visitor to the Johnny Carson Show. He's skit featured a goofy hand-held device with many moving parts. Each part purportedly played a critical role in making the economy function.
Of course, when Carson would ask the "professor" why one or another part performed the way it did, the professor would answer with unintelligible gobbley-gook replies so goofy that the audience laughed.
The professor's convoluted, non-nonsensical responses about how our economy works reminded me of the adage, "Many a truth is said in jest."
Good thing our illustrious government wonks changed their methodology for computing CPI. If they used the same methodology in place 40 years ago inflation would be at 15.2%. Can't have that now can we. Hum, 15.2% seems to align with my personal experiences. Must be a coincidence :-) What would we do without our big beautiful government? Who would build the roads and manage our economy. My God, it would be total anarchy! Way past time to divorce Washington, D.C. Its secession time :-)
Then he's got my vote :-)
Yes, Twitter was actually playing the role of Ministry of Truth. The FBI actively interfered in a presidential election to get their stooge in office. As you point out, most folks will never learn of this because they're too cheap to buy real news and only rely on free MSM propaganda. We passed the Rubicon long ago and there's no fixing this. This government needs to die or be killed, and the sooner the better. As the old saying goes; absolute power absolutely corrupts.
Yes they do. They also have access to your emails, texts, voicemail messages, phone calls, etc. Don't lose sight of the fact that it was the Republicans who granted them this power :-)
Once a government loses its legitimacy it has but one option; Totalitarianism. We're there :-)
Garland and Wray were the first "all in" the bag for Biden. Without those two goons, he would be in a whole heap of trouble. Can you imagine what a Special Counsel investigation of Hunter, James and ultimately Joe Biden would uncover? It would make the CIA's involvement with the Kennedy assassination look like an honest mistake.
Clinton lost his law license over it. Not as much as it should have been, but what the Bidens have done is far worse, in my opinion.
I agree completely. I would just change recession for depression. This is a Fourth Turning.
I read once that an insurance guy figured that there was about $17 trillion in the "social security " trust fund when Johnson pulled all that money into the "general fund" in order to finance the War on Poverty. Now here we are 68 years later and we have spent approximately $25 trillion on it and we still have poverty and importing more across our southern border. How do we pull ourselves out of poverty when we import and steal from other funds and it is still not enough? I am not good with numbers, but I think the War on Poverty was acclaimed a catastrophe by all measures. We need a Jubilee Year like they had in the Old Testament. Forgive all debt and start over. Just sayin'
Don Harrell
PS We can't print the stuff fast enough! $
I think we’d end up with social unrest for two reasons. A lack of justice and forgiveness. Justice in the sense that those who got (government borrowing, student loans, car loans, credit cards, overdrafts, home loans... debt both rational and reckless in general) should feel some sort of pain. Forgiveness on the part of those who managed their finances conservatively but now have to carry on regardless.
Smart move, keep 75% in the G-Fund and 25% in stocks to ride out the wave!
Don. Don't forget someone's debt is someone else's income stream.
Yes bro, 17% black born out of wedlock pre 1964, 3-5% white and not enough Spanish back then to consider.
Now, 75% black, 50% Spanish and 35% white born out of wedlock. Yes brother, the game is over, it's now up to the creators of this insanity on how to divide the spoils amongst themselves...
Bill your understanding of our present day in historical context is much appreciated. The thing that sometimes confuses is "The Fed" or the Feds I' m never really sure until I devout some thought to the matter which is which. I suppose they are one in the same joined at the hip reminding me of an commercial airline pilot I once was introduced to who quipped; " its one thing when your being f........kd and not know who's doing the f......king its all together different, when you know how your being f....ckd and who's doing the f....king.
In the "Money for 'Nuthin'" section you mention that some whould take 'hammer and chisel' to attack the economy. Those who would follow that path have actually been picking up a "hammer and sickle"!
According to the progressive wing of the Democratic Party, a key cause of our inflation is "corporate greed". Big companies are making too much money! The progressive solution -- government targeted price controls, an excess profits tax, and vigorous enforcement of antitrust rules to breakup the large companies. We MUST keep these crazy people from implementing their program! Our good thing about Powell and Yellen is that they appear to reject this stuff!
The US needs to borrow trillions and trillions from China and EU to finance the economy and government spending agenda. Then we can print additional trillions and trillions of dollars to offset the global loans and build a stronger global credit line in order to borrow more money from other countries while securing the loans through Made in America collateral money printing 😃 while we continue to circulate and build the quadrillion dollar “house of cards” that will upend the entire financial global system. 😂
The term trillion should be replaced with quadrillion before the end of 2025. It’s like borrowing 10 bucks back in the day, that made sense, but now if you need a quick fix you ask someone if you can borrow $100 bucks, that’s like pennies on the dollar in today’s value. 😂
I bet “they” are all in a room, planning their next move, and listening to some Jim Morrison, 😂 I love the “cancel my subscription” part of the tune, but they changed the lyrics to “Netflix” right before it crashed and went straight to hell! 😂
When the music's over
When the music's over
When the music's over
Turn out the lights
Turn out the lights
Turn out the lights
For the music is your special friend
Dance on fire as it intends
Music is your only friend
Until the end
Until the end
Until the end
Cancel my subscription to the resurrection
Send my credentials to the house of detention
I got some friends inside....
(Morrison, 1967)
Good history lesson. As usual.
One of the problems with inflation, is that by the time it gets here no-one can remember what, or who, caused it, given that your average punter can't think back more than about 5 years. So we'll keep repeating the exercise, assuming we get out of the current mess in anything like reasonable shape. Do like the Willy Wonka comment - very apt
An inflation target is systematic theft of your savings. Wall Street's already whining for a higher inflation target. Inflate or Die :-)
The Fed is very organized crime.
You should enlarge the scope of your indictment. A book I highly recommend is Tom DiLorenzo’s “Organized Crime: The Unvarnished Truth About Government” (2012). Both the table of contents and the index are exceptionally useful when you can’t resist bashing friends who still get misty when talking about their first trip to Washington, D. C.
I had the misfortune of reading the “creature from Jekyll Island”. This was about 10 years ago. If that book does not open your eyes, you are really not trying. I like DeLorenzo as well, I just have not read the one you were talking about. Thanks!
DiLorenzo is great! The Real Lincoln was an awesome read.
Recently retired, DiLorenzo taught for decades at Loyola University in Baltimore. I’ve had the pleasure of meeting him. Two of his other books from which I’ve very much profited are “Hamilton’s Curse: How Jefferson’s Archenemy Betrayed the American Revolution—and What It Means for America Today” (2008) and “The Politically Incorrect Guide to Economics” (2022).
Here’s a key paragraph from “Hamilton’s Curse”:
“But that life [i. e., in the Jeffersonian states’ rights tradition] was snuffed out completely in one revolutionary year, 1913. During that one year three sweeping changes occurred: the Seventeenth Amendment to the Constitution was ratified, and so for the first time U. S. senators would be directly elected rather than appointed to office by state legislatures; the federal income tax was adopted; and the Federal Reserve System was created. All three institutions almost completely centralized power in Washington and constituted the death blow to the old Jeffersonian tradition in American politics—and the final, decisive victory for the Hamiltonians. Hamilton’s totally centralized government, with an increasingly arrogant chief executive who could bully and manipulate the governors and legislatures of the states (as well as their citizens), was finally realized 126 years after he first enunciated his plan at the Constitutional Convention. The world would soon discover that national borders would not limit the bullying, interventionist proclivities of American presidents.”
I'm familiar with DiLorenzo through his affiliation with the Mises Institute. Love, love, love how DiLorenzo puts miscreants such as Wilson, Lincoln, and FDR in their proper place :-) Just like Mises and Rothbard before him, Thomas DiLorenzo is no friend of the State. No friend of the State is a friend of mine :-)
Have I mentioned that DiLorenzo’s little book “The Problem with Socialism” (2016) and his “Politically Incorrect Guide . . . “ make great gifts for young folks who’ve been dosed at America’s propaganda mills—that is, our “elite” colleges and universities? Here’s the opening paragraph of “The Problem of Socialism”:
“A quarter of a century after the spectacular collapse of socialism in the Soviet empire, a large segment of the ‘millennial’ generation of young Americans (those born between 1982 and 2004) thinks socialism may be the wave of their future. A 2015 ‘yougov.com’ poll revealed that 43 percent of Americans between the ages of eighteen and twenty-nine had a ‘favorable’ opinion of socialism and that they have a higher opinion of socialism than they do of capitalism. (Who says the public schools are not teaching the kids much these days?)”
Well said: "Economics is Willy Wonka's Chocolate Factory and a maze of turning wheels and a big mess."
Your comment reminded me of an occasional visitor to the Johnny Carson Show. He's skit featured a goofy hand-held device with many moving parts. Each part purportedly played a critical role in making the economy function.
Of course, when Carson would ask the "professor" why one or another part performed the way it did, the professor would answer with unintelligible gobbley-gook replies so goofy that the audience laughed.
The professor's convoluted, non-nonsensical responses about how our economy works reminded me of the adage, "Many a truth is said in jest."