Cloward/Piven in action. It is all intentional. No one in their right mind replaces the best system ever devised, so they broke it, now are trying to replace it before the public figures out what happened.
I don't think there is any place for the middle class to hide from Brandon's economic tsunami. It is impossible to save money and where would you invest it. I guess you could buy gold, silver, canned goods, guns and ammo. I am not joking.
The Fed was complicit in creating this inflationary economy. With Quantitative Easing (I.e., printing money), the Fed financed the Treasury’s massive deficits in 2020 and 2021 by buying the government bonds used to fund the deficits. If the Federal government funds its increased spending by raising taxes or borrowing from the private sector, that does not cause inflation, it simply moves demand from the private economy to the public sector. During 2020-21, the Fed increased its balance sheet (printed money) by over $5T, increasing the money supply by 43%. The economy grew about $2T during this period. This created excess demand over a finite set of goods land services, thus inflation. Those driving the Fed’s policy ascribed to the Modern Monetary Theory. How did that work in practice? Finally if inflation were measured as it was in 1980, it would be in the 15-20% range.
Raphael Bostic's systematic racism is at odds with reality. 6.4 % of blacks with a college education are millionaires. Queen Elizabeth possibly the whitest white woman on the planet was worth $500 million after 70 years on the throne while Oprah Winfrey is worth $2.6 billion. What is true is people who put in the work and are in the right place at the right time do very in this country.
The inflation we're now seeing was not only imaginable, it was unavoidable. Our inflation directly resulted from Congressional mismanagement of the federal budget/fiscal appropriations and the actions of a compliant Federal Resreve who brought the debt instruments issued by the Treasury Department with newlt created fiat currency.
This is known as QE, something the Fed has regularily engaged in since 2008. The situation got completely out of hand in 2020 when Covid hit and the government mailed out over the next 24 month around $4 trillion dollars that previously didn't exist. The government componded the problem with its covid policies that distroyed/ dislocate the labor market.
Nothing the Fed is doing today will fix inflation. It isn't seriously reducing the size of the money supply by selling off its balance sheet, it's interest rate action will kill the wrong knid of demand and limit industrial investment that would eliminate supply shortages, and the Congress is complicit in sustaining the inflationary pressures by passing budgets that are not balance. Nothing the Fed or Congress is currently doing seriously addresses the imbalance in the MV=PY equation. And, until this formula is balanced we will continue to have inflation.
But you talk about a collapse but not about what we should do with our life savings. Leave in the bank? Leave are sticks as is. Hid our money under our mattress? If there's no $ what happens with our current savings?
I’m pissed. I retired in Jan 2021. I understand risk when engaging in the market for my 401k, but I will go to my grave thinking this was avoidable. I was so close to my goals. Market corrections I get, but this is reckless.
What fascinates me is they quietly say their decisions will increase unemployment to stop inflation. I wonder who is going to be unemployed to help with inflation? Brandon, his administration and the clowns at the Fed? Don't count on it.
Perhaps we're at the point where we should let AI manage monetary policy? I submit that AI couldn't do any worse that our so-called experts, and it would like be faster, cheaper, and do a better job...especially if we were to task the AI with just maintaining a stable currency value. Just a thought for your consideration.
Steve, you hit the nail on the head; it’s economic malpractice. Unfortunately, these inept people answer to no one.
Cloward/Piven in action. It is all intentional. No one in their right mind replaces the best system ever devised, so they broke it, now are trying to replace it before the public figures out what happened.
I don't think there is any place for the middle class to hide from Brandon's economic tsunami. It is impossible to save money and where would you invest it. I guess you could buy gold, silver, canned goods, guns and ammo. I am not joking.
The Fed was complicit in creating this inflationary economy. With Quantitative Easing (I.e., printing money), the Fed financed the Treasury’s massive deficits in 2020 and 2021 by buying the government bonds used to fund the deficits. If the Federal government funds its increased spending by raising taxes or borrowing from the private sector, that does not cause inflation, it simply moves demand from the private economy to the public sector. During 2020-21, the Fed increased its balance sheet (printed money) by over $5T, increasing the money supply by 43%. The economy grew about $2T during this period. This created excess demand over a finite set of goods land services, thus inflation. Those driving the Fed’s policy ascribed to the Modern Monetary Theory. How did that work in practice? Finally if inflation were measured as it was in 1980, it would be in the 15-20% range.
"ending systemic racism" is code for "let's get some payback". It's not enough to level the playing field; the opposing team must be cudgeled.
If you don’t know it’s intentional by now, you shouldn’t be writing about it. Say, “WEF” 🔥
Raphael Bostic's systematic racism is at odds with reality. 6.4 % of blacks with a college education are millionaires. Queen Elizabeth possibly the whitest white woman on the planet was worth $500 million after 70 years on the throne while Oprah Winfrey is worth $2.6 billion. What is true is people who put in the work and are in the right place at the right time do very in this country.
The inflation we're now seeing was not only imaginable, it was unavoidable. Our inflation directly resulted from Congressional mismanagement of the federal budget/fiscal appropriations and the actions of a compliant Federal Resreve who brought the debt instruments issued by the Treasury Department with newlt created fiat currency.
This is known as QE, something the Fed has regularily engaged in since 2008. The situation got completely out of hand in 2020 when Covid hit and the government mailed out over the next 24 month around $4 trillion dollars that previously didn't exist. The government componded the problem with its covid policies that distroyed/ dislocate the labor market.
Nothing the Fed is doing today will fix inflation. It isn't seriously reducing the size of the money supply by selling off its balance sheet, it's interest rate action will kill the wrong knid of demand and limit industrial investment that would eliminate supply shortages, and the Congress is complicit in sustaining the inflationary pressures by passing budgets that are not balance. Nothing the Fed or Congress is currently doing seriously addresses the imbalance in the MV=PY equation. And, until this formula is balanced we will continue to have inflation.
Arrest JPow and his cronies then abolish the FED.
But you talk about a collapse but not about what we should do with our life savings. Leave in the bank? Leave are sticks as is. Hid our money under our mattress? If there's no $ what happens with our current savings?
Steve, not only the FED is clueless but please add Larry Kudlow of Fox Business. On 28 Sept, I believe he is referencing you and the War Room at this URL: https://video.foxbusiness.com/v/6312989237112#sp=show-clips (go to the 4:05 minute mark) as Kudlow rails against his "competitor network". Kudlow is "spot OFF" because by today at 4:40 AM EST this is what Fox reported: https://www.foxbusiness.com/economy/uk-government-drops-plans-tax-cut-wealthy-that-prompted-turmoil-financial-markets. I know both of you support Trump -- but I am sticking with your advice. Kudlow's counsel cant make it 5 days....
I’m pissed. I retired in Jan 2021. I understand risk when engaging in the market for my 401k, but I will go to my grave thinking this was avoidable. I was so close to my goals. Market corrections I get, but this is reckless.
ASIA FOR THE ASIANS, AFRICA FOR THE AFRICANS, WHITE COUNTRIES FOR EVERYBODY!
The words “immigration”, “tolerance” and “assimilation” are being used to PROMOTE a program of genocide against White children.
According to International Law, open borders, FORCED integration, and assimilation is GENOCIDE.
Except they don’t call it GENOCIDE when it’s done to White children.
Then they call it “multiculturalism”
STOP WHITE GENOCIDE!
Multiculturalism means chasing down the last White person.
What fascinates me is they quietly say their decisions will increase unemployment to stop inflation. I wonder who is going to be unemployed to help with inflation? Brandon, his administration and the clowns at the Fed? Don't count on it.
Perhaps we're at the point where we should let AI manage monetary policy? I submit that AI couldn't do any worse that our so-called experts, and it would like be faster, cheaper, and do a better job...especially if we were to task the AI with just maintaining a stable currency value. Just a thought for your consideration.
Your economic info is the best on TV. Thanks for the insight and facts you provide.