You've got to have a little sympathy for JP. Now that the Fed has finally grown a pair , Congress is passing spending bills faster than they can draw down the money supply, LOL.
"Normally, the Fed lends at positive rates (about 2% above inflation). To do so today would mean a Fed Funds rate over 10%. But the US has a pile of debt $90 trillion high."
Let's think about this:
1% of $90,000,000,000,000 (13 zeroes) is $900,000,000,000 (11 zeroes), right? $900 billions represent $2,500 out of pocket for every man, woman, and child in the USA.
10% of $90 trillion (13 zeroes) represents $25,000 from every person. That leaves millions in America without adequate food or heat. No?
Would our "elected" officials actually allow that? Am I hyperventilating for nothing?
And Bill says 40% of the US population don't pay taxes...so my $25,000 per person estimate is probably 40% low.
We have to stop saying surprise inflation. It's like turning up the heat on a pot of water and being surprised when it boils. Ridiculous game we are playing really. Out of respect for the Queen who has just passed I'll quote her, "Why, sometimes I’ve believed as many as six impossible things before breakfast." Oops, sorry. Wrong Queen.
This may be slightly off-topic, but I think the Lionization of Paul Volker is way overdone. I credit the reduction in inflation mostly to China, and the availability of goods and services that came along with its emergence. Example: At Christmas in the 70's I was paying $10 a string of 100 for lights...at Ace Hardware, the only ball game in town.... No Home Depot or Lowes, at least in my neighborhood!! Now these go for a buck or two. I would also refer to the Harry Dent work about the increase in productivity by the maturing and technology of the Boomers. I think that all Volker did was screw up the economy...... Twice! Powell will go down in history as a disaster.....if he already hasn't!
You've got to have a little sympathy for JP. Now that the Fed has finally grown a pair , Congress is passing spending bills faster than they can draw down the money supply, LOL.
"Normally, the Fed lends at positive rates (about 2% above inflation). To do so today would mean a Fed Funds rate over 10%. But the US has a pile of debt $90 trillion high."
Let's think about this:
1% of $90,000,000,000,000 (13 zeroes) is $900,000,000,000 (11 zeroes), right? $900 billions represent $2,500 out of pocket for every man, woman, and child in the USA.
10% of $90 trillion (13 zeroes) represents $25,000 from every person. That leaves millions in America without adequate food or heat. No?
Would our "elected" officials actually allow that? Am I hyperventilating for nothing?
And Bill says 40% of the US population don't pay taxes...so my $25,000 per person estimate is probably 40% low.
I need a paper bag.
We have to stop saying surprise inflation. It's like turning up the heat on a pot of water and being surprised when it boils. Ridiculous game we are playing really. Out of respect for the Queen who has just passed I'll quote her, "Why, sometimes I’ve believed as many as six impossible things before breakfast." Oops, sorry. Wrong Queen.
This may be slightly off-topic, but I think the Lionization of Paul Volker is way overdone. I credit the reduction in inflation mostly to China, and the availability of goods and services that came along with its emergence. Example: At Christmas in the 70's I was paying $10 a string of 100 for lights...at Ace Hardware, the only ball game in town.... No Home Depot or Lowes, at least in my neighborhood!! Now these go for a buck or two. I would also refer to the Harry Dent work about the increase in productivity by the maturing and technology of the Boomers. I think that all Volker did was screw up the economy...... Twice! Powell will go down in history as a disaster.....if he already hasn't!
If the CEO of Bed Bath and Beyond had only jumped on Friday, the speculation as to why might have been different.
I would like to watch Bill's "The Day America Dies". But my computer (which is fast) keeps stopping while more content is loaded. Any suggestions?
You might have more luck watching it on YouTube?
https://www.youtube.com/watch?v=FiNAcrwWDTk&t=2s
I'm still waiting to read it. Accidentally discovered the transcript of the Fatal Conceits before last yesterday. A good read.
Thanks! Just wrapped another episode, this one with Doug Casey. Will be out in the next day or two...