We should start keeping tabs on how many definitions have been changed during this Jacobin Regime. So far I have: vaccine, women, and now recession. Welcome to the era of Peak Stupidity :-)
A Capitalistic Economy would never have a Central Bank. You don't need a Central Bank to have money. Central Banks create money out of thin air and are thus engines of inflation. They benefit only the cronies who get the money first. Think, Cantillion Effect, named after 18th century French banker and philosopher Richard Cantillion. Stagflation would never occur in a Capitalistic Economy. Think Frankenstein. Planning on a career Apparatchik with zero business acumen such as Jay Powell to eradicate inflation is the equivalent of planning for Hitler to convert to Judaism. Central planning always fails and this will be no exception. This is the time to lay down the Hopium pipe and begin preparing for a very prolonged cold winter. Most folks won't put down the pipe because they're Statists and their religion is Statolatry (Worship of the State). Whenever anything goes wrong they look to the State for answers and assistance. Decades of indoctrination have obscured this incredibly important fact; the American Revolution was not only the first great modern revolution, it was a Libertarian Revolution as well. Its no surprise we're circling the toilet bowl when 99% of the populace supports Fascism or Marxism. The only way out of this mess is to regain our Libertarian ideology, but I don't see this happening voluntarily. So the best course of action is to embrace and plan for the crash and burn.
Very good Craig, although I'm not sure that a Libertarian ideology has ever had its hands on the levers of power, mores the pity. And while it does seem to me that your 99% (Facist or Marxist) might be a bit on the high side, I do think we are being very quickly herded into one camp, or the other, so you'll probably be right sooner than later
Bloody hard to tell a good Marxist and a good Facist apart I reckon, so maybe that's the plan - keep us divided and distracted?
We couldn't have started off with a stronger footing. With the Bill of Rights Jefferson essentially plagiarized John Locke, the Father of Liberalism. The Bill of Rights is virtually a Natural Law Manifesto. We now live in a society where Libertarians are viewed as domestic terrorists and Natural Law has long been forgotten. This is a perfect example of what happens when government indoctrination is confused with education.
Love your quote about not being able to differentiate between a good Marxist and good Fascist! Yeah, they're both Statists and worship at the alter of Statolatry. I don't blame the Politicos for the mess we're in. Politicos add no value and are a net negative to society. I blame the Statists for empowering these miscreants.
The problem is most Tribalists don't view themselves as Fascists. They equate Fascism with Hitler. Fascism is an Italian export. Its the marriage of business and state. Unlike a Marxist, a Fascist doesn't have enough hubris to think he/she can run business better than the Capitalists. However, the Fascist want to put his/her thumb on the scale so they an their cronies can get their palms greased. Fascism in America started with Lincoln and never looked back after FDR. Our leaders prefer to call our form of governance Western Liberal Democracy, but its simply Fascism with lipstick. Yes, its Fascism Lite compared to Nazi Germany, but its still Fascism. Yet another definition that's been changed by the ruling class to fit their narrative. My point is that at the core both Tribes are predominately Fascist. We're starting to see an increase of Marxists now in the Democrat Tribe. Neither Tribe has a Libertarian fringe which is why both Tribes view Libertarians as enemies of the State.
Do not understand our business models, are there any? The government, not business decides we need chip plants in this country. How does that happen? They are toying with making Delphi salaried retirees whole, but at tax payers expense. How does that happen. GM was happy to take the bailout, they should pay. Who exactly is playing who?
Where's the money coming from to create from scratch these many manufacturing plants? Who will own the plants? Who gets to spend the billions being set aside to create this additional manufacturing capacity? Who will train the un and under-employed to make the sophisticated, intricate semiconductors?
I thought the money was being made available to existing manufacturers on a deferred repayment basis. I hope the government is not going to get in the business of site selection, construction management and/or hiring and training. Governments don't create wealth; they consume it
This is really a fascinating forum. I enjoy the various opinions of people of good will and unusual, not bar room, gargling. It's clear that Bonner and company don't know everything (as they repeatedly remind us). But, they provide good information, some of it to understand the big picture, some of it some of it to reify some of the noise, and some to provide best guess ways to avoid the pitfalls of a dangerous economic world. And they do this at a reasonable fee. I'm sad to see the deterioration that is frequent in most comment platforms. Disrespect of others contributes little to the road that we are all going down.
Could the prolific commenter we all know please start typing like a normal human being. Single spaces between words, and sentences is more than enough. Dot, dot, dot here - space, space, space there. All incoherently decided upon by the writer. Not to mention shouty capitals when it’s just not needed. Make your points with a little grammar. You’ll come across far more readable and less like a frothing mouth looney. I’ll guess I speak for many when I say, I currently ignore all your ravings due to the retarded structure you constantly use.
I'm not! He already takes over too much space here; saying the same old rhetoric. He loves calling people names, i.e., despicable, scumocrat, idiot, moron just to name a few!
I know Dorothy, I was simply mocking him. Someone who doesn’t like what Bill writes or does with his life gets some kind of perverse pleasure out of attacking him and telling Bill he doesn’t know what he’s talking about. People like that I just feel need to be called out and told, “If you’re such an expert then write your own newsletter and show us how it’s done”. But most likely he is just full of himself and a lot of hot air.
Ah, so many words but didn’t really say anything. Just more ranting from some old fool that likes to come across as some kind of tough guy. Fantasies are nice when they’re only in your head.
It seems your humor is only surpassed by your braggadocio. No wait, your real claim to fame is being the insult king. I guess whatever makes you feel superior, but so far I haven’t seen anything to be impressed by. Gotta go now but don’t worry, it’s not permanent, I’ll still be around.
Hahaha..But I do manage money. Doing extremely well, I might add. Also, my subscription is up to date. And who do you think you are? Your name to fame is name calling; what an ass. Go play in your sandbox.
You're the" know it all" (you think.) I wouldn't want to manage a dime of your money. You're the fool with all of your name calling. That's very telling and, by the way, most of us are all sick of the same rhetoric that you spew out each day. Get a life!
Yeah, I know exactly what you mean. It is kinda fun to provoke and see you get yourself all worked up into a lather. Stirring the pot, as you might say. I just hope I don’t cause you to have a stroke, it seems your blood pressure got a little high, well maybe the wine will help.
Bill and Joel, you see a comedy act for what it is,thanks.Problem is we at the bottom at the bottom of the heap, keep having to sign loan papers at the Bank to pay it back.
What dumb moron Biden is. The Democrats need to run him in 2024 for sure... with Harris of course... shoe in for a victory... my guess is that ticket would not get 5 % of the vote.
Stacey Abrams does not have what it takes to win in Georgia this election. Our sitting Governor Brian Kemp has run a strong 3 1/2 year term and handled the covid crisis extremely well compared to many other states. He's also run the State financially well during his first term. Abrams has less of a chance this time than last. Now, Hershell Walker might be a different story against Democrate Raphael Warnock for the 4 year term senate seat. I cant believe Hershall's our Republican candidate for Senate.. it's a most important seat this year for Georgia and the Country.
PG can just not help himself. He needs to call people names. I suppose he thinks it makes him sound smarter. I just think name-calling should be left on Twitter and Facebook and I am on neither of those platforms. For that reason! This is simply a forum for give-and-take ideas.
Too bad that you don't get sued for all your inflammatory statements. You know that none of the above people had anything to do with Covid. Show your facts if you have any. You hate the Democrats so much you lie about them anyway you can. Ah, it must be wonderful to be a perfect Republican.
Research the repo crisis in banking in the fall of 2019. Understand that mechanism. The liquidity was drawing up. The bags needed to be re-capitalized again but the public would not put up for it. Hence the plan Demic. Rather than calling people names maybe educate yourself, a little?? Thanking you advance.
If memory serves then Bill argued years ago that the rate should have been raised years ago and substantially, well before Covid which started to hit economically only in March 2020 and Ukraine which hit economically only since this March. Then he made fun of the Fed PhD that were all surprised when inflation hit. Whether he is a good man is everyone's guess. Whether he works hard, too. Whether he tries his best, perhaps.
But the difference between boys and men is that boys get rewarded for trying and men get rewarded for results. And if I understand what Bill wrote correctly, Powell didn't get results and couldn't get results because everything he did and does did and does fly in the face of fundamental money theory, which means he acted incompetently, and perhaps is incompetent.
Concerning the Chickens, having gone through agricultural training, I can assure you that if those who pretend to be political leaders had to raise their own food on a commercial scale, they'd be as much out of their depth as they are in politics. Last but not least, you can't "manage the economy", you can only mess it up with your interventions. The one point where Reagan was right before he abandoned his principles, "government isn't the solution, its the problem"
I enjoy Bills work, yes he plays both sides, and around the edges, but he still has much to offer in making some sense of these times. What we take in is on us.
If Bill's the Wizard of Oz, I guess that makes me the Scarecrow, hoping every day that Bill will provide a "brain" to understand what is going on in the financial world!
Your defense of the Fed is mind boggling. It is a vampire designed to take. We don't need a Fed. We need sound money. Bill knows this, just my opinion.
Since anyone can make a proclamation in this forum, here's mine: A Fed-induced recession is the only way to quickly smite inflation.
The faster inflation is squashed, more of the purchasing power of the dollar is preserved.
The fly in the ointment is our government's penchant to consistently spend more money than it acquires from taxpayers, levies and fees.
The cost to service the ever-growing debt it creates will one day put a squeeze on government programs that rely on appropriated dollars.
Interestingly, two major cost centers -- Medicare and Social Security -- do not rely on appropriated funds (nor my military retirement), but the semi-conductor initiative will. Interesting times a-coming
IF the Market is going to do what you say, then why bother spending all that money employing anyone in the Fed? Isn't that exactly what Bill says? Why the Fed?
Apparently, JP Morgan and his buddies saved the US from economic collapse during the Panic of 1907. He then convinced the federal government that this function should be handled by a central bank rather than by a private individual and his Wall Street friends.
sadly, only because they are a constitutional body doesn't mean that it works as intended. Gerrymandering apparently is constitutional, too and is brilliant undermining the very spirit of democracy
But isn't the 'Jungle' what you earlier said was the 'Market'? I can't see how the fed is simply regulation. It sets interest rates and prints money, buying Government bonds, both of those are things the Market will do in parallel according to your post earlier. So why bother at all with the fed doing that? Certainly when it comes to setting interest rates and buying Government bonds.
I can see a body that oversees banks and their regulations, maybe tells them they aren't capitalised enough or they are fiddling interest rates - eg Libor. But the problem when Central Banks set interest rates is that they are in thrall to Governments so we get the classic "Who guards the guards?" - and from where we are to day, it seems for every "Guard" aka Central Bank, no one guards them and they play politics not finance, so landing us with this disaster which is going to be far worse than the disaster we'd have had in 2008 had we let the bankrupt mortgage and finance companies go to the wall. Then prosecuted a fair few of their bosses.
We should start keeping tabs on how many definitions have been changed during this Jacobin Regime. So far I have: vaccine, women, and now recession. Welcome to the era of Peak Stupidity :-)
Herd immunity, anti vaxxer.... they change the meaning of words to suit their narrative. Orwell will be turning in his grave.
A Capitalistic Economy would never have a Central Bank. You don't need a Central Bank to have money. Central Banks create money out of thin air and are thus engines of inflation. They benefit only the cronies who get the money first. Think, Cantillion Effect, named after 18th century French banker and philosopher Richard Cantillion. Stagflation would never occur in a Capitalistic Economy. Think Frankenstein. Planning on a career Apparatchik with zero business acumen such as Jay Powell to eradicate inflation is the equivalent of planning for Hitler to convert to Judaism. Central planning always fails and this will be no exception. This is the time to lay down the Hopium pipe and begin preparing for a very prolonged cold winter. Most folks won't put down the pipe because they're Statists and their religion is Statolatry (Worship of the State). Whenever anything goes wrong they look to the State for answers and assistance. Decades of indoctrination have obscured this incredibly important fact; the American Revolution was not only the first great modern revolution, it was a Libertarian Revolution as well. Its no surprise we're circling the toilet bowl when 99% of the populace supports Fascism or Marxism. The only way out of this mess is to regain our Libertarian ideology, but I don't see this happening voluntarily. So the best course of action is to embrace and plan for the crash and burn.
Very good Craig, although I'm not sure that a Libertarian ideology has ever had its hands on the levers of power, mores the pity. And while it does seem to me that your 99% (Facist or Marxist) might be a bit on the high side, I do think we are being very quickly herded into one camp, or the other, so you'll probably be right sooner than later
Bloody hard to tell a good Marxist and a good Facist apart I reckon, so maybe that's the plan - keep us divided and distracted?
We couldn't have started off with a stronger footing. With the Bill of Rights Jefferson essentially plagiarized John Locke, the Father of Liberalism. The Bill of Rights is virtually a Natural Law Manifesto. We now live in a society where Libertarians are viewed as domestic terrorists and Natural Law has long been forgotten. This is a perfect example of what happens when government indoctrination is confused with education.
Love your quote about not being able to differentiate between a good Marxist and good Fascist! Yeah, they're both Statists and worship at the alter of Statolatry. I don't blame the Politicos for the mess we're in. Politicos add no value and are a net negative to society. I blame the Statists for empowering these miscreants.
"...when 99% of the populace supports Fascism or Marxism."
Way, WAY off Mr. Whitfield. 15% - 25%, max...
The problem is most Tribalists don't view themselves as Fascists. They equate Fascism with Hitler. Fascism is an Italian export. Its the marriage of business and state. Unlike a Marxist, a Fascist doesn't have enough hubris to think he/she can run business better than the Capitalists. However, the Fascist want to put his/her thumb on the scale so they an their cronies can get their palms greased. Fascism in America started with Lincoln and never looked back after FDR. Our leaders prefer to call our form of governance Western Liberal Democracy, but its simply Fascism with lipstick. Yes, its Fascism Lite compared to Nazi Germany, but its still Fascism. Yet another definition that's been changed by the ruling class to fit their narrative. My point is that at the core both Tribes are predominately Fascist. We're starting to see an increase of Marxists now in the Democrat Tribe. Neither Tribe has a Libertarian fringe which is why both Tribes view Libertarians as enemies of the State.
Couldn't have said it better myself.
Do not understand our business models, are there any? The government, not business decides we need chip plants in this country. How does that happen? They are toying with making Delphi salaried retirees whole, but at tax payers expense. How does that happen. GM was happy to take the bailout, they should pay. Who exactly is playing who?
Bet Jaypo wishes he could take back that "neutral" comment :-) Not a good time to be a Keynesian. Gotta love central planning in a Fascist economy.
Where's the money coming from to create from scratch these many manufacturing plants? Who will own the plants? Who gets to spend the billions being set aside to create this additional manufacturing capacity? Who will train the un and under-employed to make the sophisticated, intricate semiconductors?
I thought the money was being made available to existing manufacturers on a deferred repayment basis. I hope the government is not going to get in the business of site selection, construction management and/or hiring and training. Governments don't create wealth; they consume it
This is really a fascinating forum. I enjoy the various opinions of people of good will and unusual, not bar room, gargling. It's clear that Bonner and company don't know everything (as they repeatedly remind us). But, they provide good information, some of it to understand the big picture, some of it some of it to reify some of the noise, and some to provide best guess ways to avoid the pitfalls of a dangerous economic world. And they do this at a reasonable fee. I'm sad to see the deterioration that is frequent in most comment platforms. Disrespect of others contributes little to the road that we are all going down.
Could the prolific commenter we all know please start typing like a normal human being. Single spaces between words, and sentences is more than enough. Dot, dot, dot here - space, space, space there. All incoherently decided upon by the writer. Not to mention shouty capitals when it’s just not needed. Make your points with a little grammar. You’ll come across far more readable and less like a frothing mouth looney. I’ll guess I speak for many when I say, I currently ignore all your ravings due to the retarded structure you constantly use.
I am anxiously waiting for PG V to start up his own “ newspaper”
I'm not! He already takes over too much space here; saying the same old rhetoric. He loves calling people names, i.e., despicable, scumocrat, idiot, moron just to name a few!
I know Dorothy, I was simply mocking him. Someone who doesn’t like what Bill writes or does with his life gets some kind of perverse pleasure out of attacking him and telling Bill he doesn’t know what he’s talking about. People like that I just feel need to be called out and told, “If you’re such an expert then write your own newsletter and show us how it’s done”. But most likely he is just full of himself and a lot of hot air.
Ah, so many words but didn’t really say anything. Just more ranting from some old fool that likes to come across as some kind of tough guy. Fantasies are nice when they’re only in your head.
It seems your humor is only surpassed by your braggadocio. No wait, your real claim to fame is being the insult king. I guess whatever makes you feel superior, but so far I haven’t seen anything to be impressed by. Gotta go now but don’t worry, it’s not permanent, I’ll still be around.
Hahaha..But I do manage money. Doing extremely well, I might add. Also, my subscription is up to date. And who do you think you are? Your name to fame is name calling; what an ass. Go play in your sandbox.
You're the" know it all" (you think.) I wouldn't want to manage a dime of your money. You're the fool with all of your name calling. That's very telling and, by the way, most of us are all sick of the same rhetoric that you spew out each day. Get a life!
Yeah, I know exactly what you mean. It is kinda fun to provoke and see you get yourself all worked up into a lather. Stirring the pot, as you might say. I just hope I don’t cause you to have a stroke, it seems your blood pressure got a little high, well maybe the wine will help.
Good for you.
Yes it is. What can I help you find? Do you need some viagra, or more likely a box of depends.
Bill and Joel, you see a comedy act for what it is,thanks.Problem is we at the bottom at the bottom of the heap, keep having to sign loan papers at the Bank to pay it back.
What dumb moron Biden is. The Democrats need to run him in 2024 for sure... with Harris of course... shoe in for a victory... my guess is that ticket would not get 5 % of the vote.
Stacey Abrams does not have what it takes to win in Georgia this election. Our sitting Governor Brian Kemp has run a strong 3 1/2 year term and handled the covid crisis extremely well compared to many other states. He's also run the State financially well during his first term. Abrams has less of a chance this time than last. Now, Hershell Walker might be a different story against Democrate Raphael Warnock for the 4 year term senate seat. I cant believe Hershall's our Republican candidate for Senate.. it's a most important seat this year for Georgia and the Country.
The passing of the Choco Taco is this year’s Harambe...a bad omen, indeed.
I bit hard on Bill ... Mr. PG ... No !
How can anyone trust someone ( +400 Ph D )
When inflation is temporary ( water under the bridge )
When sorry inflation will peak by 2023
When in fact he created it in February, March 2020
In fact PG if Mr . Powell was chiropractor won’t you think twice to be treated by him ... I know my answer .
He s dreaming and wishing that Inflation will meet at 4 % one day .
But in fact he has no clue at all .
One thing he knows... is that he is limited to around 3,5 % Fed funds rate before the market collapse and his elites friends with it .
Like what you think and say. We are in a big mess and have to dig our self out again, but darn, I'm getting too old for this crap!!!
Covid was not black swan, just hiding a banking crisis. Powell is part of the problem and needs a lampost.
We've all been lectured today,lol!
PG can just not help himself. He needs to call people names. I suppose he thinks it makes him sound smarter. I just think name-calling should be left on Twitter and Facebook and I am on neither of those platforms. For that reason! This is simply a forum for give-and-take ideas.
Too bad that you don't get sued for all your inflammatory statements. You know that none of the above people had anything to do with Covid. Show your facts if you have any. You hate the Democrats so much you lie about them anyway you can. Ah, it must be wonderful to be a perfect Republican.
They are both useless.
Research the repo crisis in banking in the fall of 2019. Understand that mechanism. The liquidity was drawing up. The bags needed to be re-capitalized again but the public would not put up for it. Hence the plan Demic. Rather than calling people names maybe educate yourself, a little?? Thanking you advance.
If memory serves then Bill argued years ago that the rate should have been raised years ago and substantially, well before Covid which started to hit economically only in March 2020 and Ukraine which hit economically only since this March. Then he made fun of the Fed PhD that were all surprised when inflation hit. Whether he is a good man is everyone's guess. Whether he works hard, too. Whether he tries his best, perhaps.
But the difference between boys and men is that boys get rewarded for trying and men get rewarded for results. And if I understand what Bill wrote correctly, Powell didn't get results and couldn't get results because everything he did and does did and does fly in the face of fundamental money theory, which means he acted incompetently, and perhaps is incompetent.
Concerning the Chickens, having gone through agricultural training, I can assure you that if those who pretend to be political leaders had to raise their own food on a commercial scale, they'd be as much out of their depth as they are in politics. Last but not least, you can't "manage the economy", you can only mess it up with your interventions. The one point where Reagan was right before he abandoned his principles, "government isn't the solution, its the problem"
I enjoy Bills work, yes he plays both sides, and around the edges, but he still has much to offer in making some sense of these times. What we take in is on us.
If Bill's the Wizard of Oz, I guess that makes me the Scarecrow, hoping every day that Bill will provide a "brain" to understand what is going on in the financial world!
🤣
Your defense of the Fed is mind boggling. It is a vampire designed to take. We don't need a Fed. We need sound money. Bill knows this, just my opinion.
Since anyone can make a proclamation in this forum, here's mine: A Fed-induced recession is the only way to quickly smite inflation.
The faster inflation is squashed, more of the purchasing power of the dollar is preserved.
The fly in the ointment is our government's penchant to consistently spend more money than it acquires from taxpayers, levies and fees.
The cost to service the ever-growing debt it creates will one day put a squeeze on government programs that rely on appropriated dollars.
Interestingly, two major cost centers -- Medicare and Social Security -- do not rely on appropriated funds (nor my military retirement), but the semi-conductor initiative will. Interesting times a-coming
IF the Market is going to do what you say, then why bother spending all that money employing anyone in the Fed? Isn't that exactly what Bill says? Why the Fed?
Interesting history on creation of the Fed: https://www.investopedia.com/articles/economics/08/federal-reserve.asp
Apparently, JP Morgan and his buddies saved the US from economic collapse during the Panic of 1907. He then convinced the federal government that this function should be handled by a central bank rather than by a private individual and his Wall Street friends.
Read book " Creature from Jeckyl Island", all about fed!
Read it, and we have been on a down hill slide ever since the Fed was created.
Thanks for the recommendation. I'll check it out!
Law of the jungle (really natural law and contract law) > law of some greasy old folk on capital hill.
End the fed! If that means end congress, then sign me up for that too!
sadly, only because they are a constitutional body doesn't mean that it works as intended. Gerrymandering apparently is constitutional, too and is brilliant undermining the very spirit of democracy
But isn't the 'Jungle' what you earlier said was the 'Market'? I can't see how the fed is simply regulation. It sets interest rates and prints money, buying Government bonds, both of those are things the Market will do in parallel according to your post earlier. So why bother at all with the fed doing that? Certainly when it comes to setting interest rates and buying Government bonds.
I can see a body that oversees banks and their regulations, maybe tells them they aren't capitalised enough or they are fiddling interest rates - eg Libor. But the problem when Central Banks set interest rates is that they are in thrall to Governments so we get the classic "Who guards the guards?" - and from where we are to day, it seems for every "Guard" aka Central Bank, no one guards them and they play politics not finance, so landing us with this disaster which is going to be far worse than the disaster we'd have had in 2008 had we let the bankrupt mortgage and finance companies go to the wall. Then prosecuted a fair few of their bosses.
We need term limits for Congress!