The Bureau of Labor and Statistics released the September Consumer Price Index (CPI) today [DATA HERE]. The financial and business media call the continued rise of consumer inflation “unexpected,” however, the results are not a surprise to those who are not pretending.
This CNBC headline highlights the economic pretense still entrenched: “Inflation increased 0.4% in September, more than expected despite rate hikes.” Those who are not pretending fully understand the economic dynamic, but you will not find reality expressed by the mainstream media.
FED rate hikes can only impact the demand side of the inflation issue. U.S (and global) inflation is NOT the result of excess demand. It has not been driven by demand for over a year. The root cause of inflation is on the supply side. That root is grounded in the energy policy making everything entering the marketplace more expensive.
The historic rise in energy prices; the result of Joe Biden’s specific energy policy to limit oil, gas and coal as energy resources; are what have driven inflation throughout the economy. The monetary policy (Fed policy) continues to pretend this dynamic does not exist. The FED is trying to support the political policy, but the bloom is off the ruse.
Overall inflation increased 0.4% in September, leading to a result of 8.2% year over year. Food and energy prices continue driving inflation, additionally core inflation (everything except food and energy) continues to be driven by the originating issue of extreme energy costs.
Everything costs more because energy costs more. That is the reality of this inflation issue.
[Modified Table-1, removing the noise]
(CNBC) […] “The Federal Reserve has made it very clear they’re committed to price stability, they’re committed to reducing the inflationary pressures,” said Michelle Meyer, chief U.S. economist at the Mastercard Economics Institute. “The more inflation comes in above expectations, the more they’re going to have to prove that commitment, which means higher interest rates and cooling in the underlying economy.”
Another large jump in food prices boosted the headline number. The food index rose 0.8% for the month, the same as August, and was up 11.2% from a year ago.
That increase helped offset a 2.1% decline in energy prices that included a 4.9% drop in gasoline. Energy prices have moved higher in October, with the price of regular gasoline at the pump nearly 20 cents higher than a month ago, according to AAA.
Closely watched shelter costs, which make up about one-third of CPI, rose 0.7% and are up 6.6% from a year ago. Transportation services also showed a big bump, increasing 1.9% on the month and 14.6% on an annual basis. Medical care services costs rose 1% in September.
The rising costs meant more bad news for workers, whose average hourly earnings declined 0.1% for the month on an inflation-adjusted basis and are off 3% from a year ago, according to a separate BLS release. Inflation is rising despite aggressive Federal Reserve efforts to get price increases under control. (more)
I feel like we are living in a parallel universe, where this grand game of pretense continues.
Every financial pundit knows the root cause of inflation is Joe Biden’s energy policy, yet they maintain the lies in order to protect the regime.
Raising interest rates in a supply side inflation economy only does one thing, it makes the economy contract faster. The only reason to intentionally shrink the economy is to try and reduce the demand for energy resources as part of the “transition to a green economy.” Together, the Biden administration and Federal Reserve are trying to lower economic output to meet a lowered amount of energy being produced. That is the reality of our situation.
They are destroying the working and middle class in order to chase their climate change agenda. These people must be removed from power.
I would submit Printing Money causes all our problems. With a prudent Monetary Policy economic forces will regulate things and assign accountability to incompetent people. All that needs to happen for the system to constantly run smoothly is to peg the interest rate to the inflation rate.
Inflation is: – too many dollars chasing too few products because leaches on the government dole don’t add anything.
The Country’s heading into its second only era of economic Stagflation, a Democratic specialty. This is going to be rough but like all hardships in life it’s also going to be a blessing in disguise. It’s going to paralyze the Democrats ability to Print money and coopt countries, organizations, and people. We’re not a little banana republic – China’s not going to be able to come along and subsidize their operations.
See, you can’t Print your way out of stagflation, that’s the source of the problem. Biden thinks he can (and all the dumbass bureaucrats) but they can’t (gone to the well too many times). Like I said it’s going to be rough, he’s going to give us a Crash we can’t get out of utilizing Monetary Policy. Another President might be able to utilize some sort of Productivity oriented Work-Fare but mostly it’s going to have to work itself out naturally according to all the Laws of Economics.
That’s where he’s taking the democratic party, Oblivion. And as the consequences of this spill out over the Globe it’s tough to describe how despised Joe Biden and his democratic party are going to be.
Churchill use to warn the rest of the world not to pressure Socialism into the United States because the entire world had become dependent on American productive capacity and generosity. If we fall then there’s no-one to come to the rescue.
All of that fall-out will be blamed directly on the democratic party of America, as it should be for stealing the Election and being the vehicle used for this intrusion. Then they can take their rightful place alongside the other monstrous regime of the 21st century the Chinese communist party. (Who will fall even faster than us without American support).
There’s nothing more Inflationary and Ineffective than a massive “Intelligence Community.”
If we take Inflation as the result of non-productive enterprises (or receivers) which add to the Demand but they don’t add to the Supply of useable goods; things become much more expensive.
Ineffectually – throughout the History of Western Civilization espionage was rightly disparaged (that’s why spies don’t have the rights of citizens and can be sent to places like GITMO, or in war they’re not covered under the Geneva Convention) because it creates an ever compounding exercise in futility. It’s the undeniable reality of social contacts and a limitless objective combined with a strategic mission incorporating highly suspect anything-goes philosophies such as “the enemy of my enemy is my friend” or “using double agents” (how do we know they’re not triple agents?). All of it operating in the shadows. Thus everything is in place for the “Intelligence” culture to inevitably become very corrupt and pervasive.
Also there’s the whole ballooning phenomena of the 10’ fence – 11’ ladder, 11’ fence – 12’ ladder, and so on. The whole thing has always been considered utterly ridiculous. Basically you have your society creating spies and not goods and services.
There’s only one valid reason for modern espionage. That’s to detect First Strike Nuclear Capability (or any other weapon of First Strike Total Destruction). All the rest is a complete farce, but it does make for a really good (and extremely zealous) political constituency. It’s zealous because it can be. Our Rights were trampled in its creation so it leverages that against anything which threatens its preservation.
All this stuff flows down hill as predictably as water into a pond, or should I say swamp.
The society needs a certain amount of goods & services to stay in price equilibrium. If you add non-productive workers (and recipients) they’re not adding anything; you have the same amount of goods & services with more money demanding them (the goods and services have become scarce). Then when you compound this with the fact that their government job probably makes things more difficult to produce then you can start to see why things become much more expensive; I say start because in a massive society you’re going to have the snowballing effects of market psychology and momentum to contend with also. Plus synergistic effects like adding to the Money Supply.
I can’t imagine anything more Inflationary than a government using Monetary Policy to fight its own people tooth & nail.
As far as spying on us and their involvement in politics:
Of course they do, we make soft targets. They’re apprehensive to spy on other countries, other countries are full of the same assets. Also they need to be careful about the network, they’re all colleagues (like the international banking network). That’s part of the whole futility of Spy v. Spy and another of the many reasons why espionage was always looked down on until the Nuclear Age. There was only one valid reason for modern espionage. That was to detect First Strike Nuclear Capability.
Also, it’s impossible to have a large “Intelligence Community,” to many eyeballs and mouths. It’s more of a Public Relations Organization for the government. That explains them Leaking like a sieve. The whole thing’s ridiculous.
The NSA for instance was a pure 911 farce; since by far the most effective counter-terrorism measure that could have been implemented was to tighten immigration and travel visas, and not rely on foreign labor; that would be something concrete. Until you’ve done something concrete like that at the stratospheric level all the rest is nothing but a joke.
The Nuclear Age made war obsolete; leaving an unrealistic chance for First Strike Total Destruction – against Massive Retaliation and mutually assured destruction. In spite of that, it also left a manifestly critical obligation for vigilance off the battlefield because the stakes are so high. Unfortunately this has functioned as a green light for wimpy people to go nudging and pushing others through the amalgamation of the State.
The arrival of the Nuclear Age was the greatest break from the past the world has ever seen. It’s much more than a scientific revolution it spawned a cultural revolution too. Everything about it bends towards corruption. This is why people say that it made life breathlessly more complicated. We’re just starting to grapple with it because the theft of the Election has made the symptoms acute.
“…money printing causes all our problems”
I don’t disagree…. but that’s a big wide barn door that was removed from its hinges years ago…and every horse which galloped out of that barn is long gone.
While this doesn’t help, that is not what is causing the current ‘spike’ in inflation.
Sundance is 100% spot on, it’s the significant rise in energy prices that has resulted in ‘consumer’ price inflation, not demand. In fact, demand for anything not needed for immediate survival has collapsed.
Meanwhile, back at the ranch, the significant decline in asset prices is from rising interest rates.
Both of the above are a direct product of ‘government’ policies directed at destroying modern civilization.
But don’t worry the currency inflation you talk about is not too far behind once they have destroyed the productive economy by starving it of cheap and plentiful energy.
So, let me get this straight, you have data that demonstrates conclusively that massive QE post-GFC and $1.5 trillion in gov’t spending in just the last 18 mos has had no bearing on price increases?
Certainly energy policy (really climate change ideology) driven supply side inflation has a big role. But so do destructive fiscal and monetary policies. There are current and lag effects you aren’t accounting for.
Meanwhile, back at the condo, we’re likely entering a global recession and all the complex systemic interactions that implies.
Were you to place odds, what do you think is the probability that excessive federal, state and (recently and most especially) commercial, leveraged debt is going to collapse like a house cards once the margin calls start rolling in? We got a glimpse in UK wrt pensions and what happens to LDIs once collateral no longer covers increased cost of capital.
Supply side energy costs may be the final weight that completely tips the balance. But this impending disaster was fundamentally driven to a FUBAR state by gov’t spending and Fed Reserve QE.
I’m not minimizing the effects of crazy Joe’s energy policies. I’m angry, very angry, and not with you, that this economic implosion has been driven by the very folks we trust to run the country. But what do I know? They award Nobel prizes these days to total eff-ups!
Yes, you must look at where the currency creation goes. If it doesn’t find a pathway to circulate in the economy then it has no immediate influence on inflation.
Let’s say the government printed million trillion dollars of physical cash and then buried it in a vault. Would this cause inflation? No
Don’t confuse the financial system with the real economy. What is going on right now is the destruction of the real economy and asset prices. They are using the inflation created by their energy policy to cover for their willful destruction of asset prices.
With a dash of Russia, Russia, Russia.
I fully understand that the amount of claims on real things (significantly expanded since 1972) far exceeds the amount of real things, even under a PDJT energy policy. But the combined policies of destroying the productive economy ‘and’ reducing the purchasing power of even real assets is basically a double whammy.
It only took election cheating in four counties out of 3,007 across the USA to flip the 2020 election. So, a big increase in M1 along with squelching of US Oil and Gas Industry is a 1-2 combo knockout blow to the current economy
Let’s repeat: What is going on right now is the destruction of the real economy and asset prices. They are using the inflation created by their energy policy to cover for their willful destruction of asset prices.
It is an economic take down of the US. Let’s pray it fails.
They did the clot shot because they stole all the pensions and to reduce social security and all the other promises they can not keep because they papered over the banks bad debts in 2008. All countries did this and all countries inflated recklessly to cover things up. The fiat monetary system was breaking. That forced the timing.
The money changers have done this repeatedly throughout history.
M2 growth has been back to normal for some time now. Sundance is right: the inflation we are experiencing now is primarily supply related. The Fed should not be hiking rates like it is unless it wants a severe recession. If inflation were primarily being driven by money printing, long term interest rates, which are set by the market not the Fed, would have shot up. They haven’t. Don’t be taken in by these “internet Austrian” economists who don’t know what they are talking about.
You guys definitely zeroed right in on the weakness of this general essay under the present situation, that would be to little emphasis on the Supply side Inflation. But there are infinite inflationary pressures, especially with a political party like the democrats that do everything butt-ass wrong. Anywhere you have inefficiencies you have inflationary pressures.
Also money is still being poured into the system at an unprecedented rate. This won’t curtail until the Interest Rates equal the Inflation Rate. The spread is much larger than anything we ever saw in the 70’s, that’s the direct consequence of the massive issue of FIAT MONEY. It’s very important for people to understand the deviousness of “Modern Monetary Theory.” I pick it as the main culprit of all our problems because it keeps the crooks in business so to speak. There’s never any day of reckoning. For example, if you don’t have Quantitative Easing you don’t have Joe Biden. Quantitative Easing is the source of all their power and control. They Can Buy Everyone Off through all levels of society, wherever they need the influence.
….”So, let me get this straight, you have data that demonstrates conclusively that massive QE post-GFC and $1.5 trillion in gov’t spending in just the last 18 mos has had no bearing on price increases?”….
Yes, actually Yes I do.
It’s called the ARRA (QE1 and QE2) spending in ’08, ’09 and ’10 which dwarfed the spending in 2021.
There was no supply side inflation following the American Reinvestment and Recovery Act, Omnibus (QE1) or Porkulus (QE2), because the energy supply was not shut down.
The overwhelming majority of this inflation cycle is created by the energy policy, not spending. This is true inflation, not monetary inflation, which is why it cuts across the entire ECONOMIC CORE.
All that 2008+ QE was to bail out the leveraged positions of TBTF institutions, and did not make it into the circulating money supply the way the 2019+ stimulus did, to the tune of around 100%. Both energy and money supply are apples and oranges comparisons between the two crises.
Look at it this way. $20 billion of Russian energy was supporting $2,000 billion of German economic production. No energy no production, no production, with the same amount of circulating currency results in significantly higher prices ‘or’ rationing, likely both.
This is the ‘same’ dynamic for all economies worldwide.
You can’t solve inflation driven by a sudden rise in energy prices due to the reduced availability with financial instruments short of completely reducing the currency supply x velocity more than you have reduced the production system.
Which is why it should be obvious to everyone supposedly paying attention that the Fed action since February is not about the stated narrative of inflation.
But Sundance if you look back at 08, 09 and 10 QE1 and QE2 did not inflate the M2 money supply in the same way that the pandemiic response fiscal and monetary policy did. 6 different fiscal spending bills starting on 3/6/2020 through 3/11/2021 and the parrallel monetary policy injected money directly into the M2 money supply (approximately $10.6 trillion).
And it is the M2 money supply that businesses. you and I spend on goods and services.
In 08 and 09, we had the same kind of housing crisis China has now. Ours started with loaning money to bad credit types with no money down. Banks were forced to loan money. Those banks are not stupid. They bundled those bad forced loans into CDOs, Collateralized Debt Oligations, and sold them to a lot of suckers around the world. Some of the banks believed that snake oil and bought CDOs, the smart ones sold those CDOs. A small economic slow down almost sank our economy and all of Europe. All the money that was printed out of thin air barely kept us afloat. As you will recall the stock market still dropped 50% during that period.
In 2020 Covid hits. The economy is partially closed again and Trump gets the Democrats to print enough money to keep us afloat. The Essential Workers got extra money, child care paid, and other goodies. Those folks got enough money that we could have some supply side inflation begin. In 2021 the first thing Biden does is shut down the keystone pipeline and our fracking. Sundance’s oil driven inflation begins immediately. Now we still have trillions pouring in to the economy from the last spending bill the Democrats just passed, incorrectly named the Inflation Reduction Act more commonly referred to as the Throwing What Little Gasoline We Have Onto the Fire Act. If you go to FRED and look at the money supply graph. You will see it going Parabolic. The Fed could not manage getting money supply under control if that is all that was happening. Throw this Insane Reduction of Fossil Fuels into the mix and no one will be able to manage this without a massive economic impact. Real Wages have dropped for 18 straight months. The cherry on top is the massive spending in electrifying our transportation which is spending Trillions without adding any value what so ever to our economy. That EV spending is completely inflationary. We will witness night after night economic reporting that will mirror the Summer of Mostly Peaceful Protests.
Could I just add that only 22 months ago the USA was energy independent and none of this destruction of our nation was happening?
Where did all of that printed cash wind up? Much of it never made it to the economy and is tucked away in the Fed Reverse Repo. Over $2 trillion is sitting there earning interest and it is growing nearly every day.
Perhaps future Historians will call this “the Great Flush” as a LOT of,…stuff is going to be flushed right down the toilet?
Certainly we are seeing and participating in a fundamental change, on many levels.
Theres a lot of,…stuff that has accumulated, over many years, to the point of impactment.
The World (of men, as opposed to ‘the Earth’) is desperately in need of a thorough colon cleanse, and thats what its getting.
In the end, WEF is just one symptom of constipation.
“… but like all hardships in life it’s [stagflation is] also going to be a blessing in disguise. It’s going to paralyze the Democrats ability to Print money and coopt countries, organizations, and people.”
It may be obvious, but I don’t understand why stagflation will have this side effect. Can someone explain this?
You don’t understand it because it is nonsense. They don’t have to stop printing money. They continue to print money. They could start up the oil patch again but they continue to shutter it. With 27 conflicts ongoing in the world, war is not obsolete. Economist is trying to explain a rational reaction and veers off into Democrat Politics. What is going on is not rational.
Thanks.
My spidy senses tell me we are in the throws of a conflict of good vs. evil. All attempts to account for the current state of global mayhem using logic and reason, modern economic or any other kind of theory, is pure subjective hogwash. Consult your bible for answers, not the FED.
I certainly agree with your point. It has laid the foundation upon which we are struggling with today’s realities, but inflation is being driven – without a doubt – by the cost of energy which has strangled the supply chain. If you were to look at loan activity in our fractional banking system you will find not much on the books – relatively speaking. But when you cease creating energy resources for a nation, your costs explode because you can’t deliver the products demanded. And the little energy we have left is getting very very expensive.
Might add here that it is not just the delivery costs. Everything is impacted by energy costs. It’s costing far more to produce crops, live stock, and all other products before any delivery costs are added
So many paragraphs that makes me think! HUH?
Econ, thank you for what I consider to be a great comment!
That’s a very long post that misses the point that when a resource is scarce, its price rises.
The production of Oil and natural gas/propane, coal and nuclear energy have been restricted well below modest demand, hence the price increases over 100% in 2 years.
You don’t need to be printing currency to get that same effect. The limited access will accomplish the same thing.
Best comment ever.
They’re afraid. In fact, all the companies that have been lying on behalf of the regime for 2 years – be it COVID, masks, vaccines, and the state of the economy – are afraid.
Companies, including those in energy, have been well paid by Government to enforce Government diktats. They’re paid to pretend, and pretending has made them rich.
It’s a stark choice. If you aren’t sitting at the table with the Biden regime, you are on the menu. There is no middle ground.
Millions see our predicament. No oil , no economy. Carbon based fuel is the mothers milk of all industrial civilization. Rising interest will never keep you warm, or increase the productivity of the farm. That’s why they target oil. The pathway to total destruction is cutting off the oil. FJB.
Exactly! All the transportation trucks and trains run on diesel! Higher diesel costs increase transportation costs which are passed along, no diesel and the truckers and trains are stranded! But I’m sure ChiCom Joe and his administration has thought this through!/s
Don’t forget the ships. They run on oil too.
Time value of money.
What’s the point if gov’t bureaucracy intentionally slows licensing/approval processes endlessly?
Bidens still behind the curve, asserting we are not in, or headed into a rescession, and all this is “transitory”.
Captain of the ship is aiming the ship right at an iceberg, and insisting the iceberg will move out of his way.
When will these synchofants start manning the lifeboats? Or, as it seems,…are they prepared to go down with the ship?
They long ago destroyed any credibility, as “financial analysts” going back to 2009, at least.
Their only power, like all Institutions and “opinion makers and shapers” is their ability to shape Public Opinion. And that is derived exclusively from their CREDIBILITY.
Incredible they spent so much effort, to infiltrate and corrupt EVERY Institution, only to then systematically destroy that Institutions credibility.
Its like siezing an armory, and then removing all the firing pins!
The question isn’t “How can we ultimately prevail against this enemy?” the question is “How can we NOT?”
“Incredible they spent so much effort, to infiltrate and corrupt EVERY Institution, only to then systematically destroy that Institutions credibility.”
I imagine they figure they can destroy the institutions before the lack of credibility hinders them.
… Destroy them or, equivalently, change them into something that enforces obedience, but does not need to care about assent.
He is actually correct for a change, a full-on ‘greatest’ depression is on the way.
Right now it’s a race to the bottom, to see if they can shrink the real economy ‘faster’ via an anti-energy policy than the currency supply via interest rate policy.
Keep in mind that most currency is stored in form of interest-paying debt. Higher interest rates make this debt worth less in ‘current’ currency terms.
For example, perfect profitable companies under a PDJT energy and economic policy, can and will go bust and default on their debt under what is happening right now. Putting enough strain on the real economy and some of this normal debt goes to a value of zero from defaults, destroying even more currency.
Eventually, the whole fiat currency system collapses.
Thank you Dutchman when you take them individually or as a group yes they are conniving and evil but not particularly bright
R.D.
Flyover: ESG will do that. It’s part of the plan.
When you think about it, ESG injects cultural and conventional Marxism right into the root of capitalism.
I was waiting for them to rise up in defense of their own business during the 2020 election. Never happened. I still don’t understand why they aren’t out there with better messaging around the need for oil and gas now and a plan to work towards better alternatives down the road 20 or 30 years with a planned, organized, well thought out transition. They could own the present and the future if they cared too…
Correct, at these prices, a number of energy resources become very profitable. No funding suggests something more diabolic at work.
Can anyone explain why the Dow is up 900 points on the same day as this awful news on inflation? I just don’t get it.
Yes, I can, it is for the same reason people who weren’t at risk of COVID took the VAX that wasn’t shown to help did so.
All the truth and information can be out there, but none of it can have any effect on those who choose to not believe it….until it does.
The stock market is a propped up false perception of reality. It’s as fake as watching the news on main stream media. It’s up for one reason, because they say it is up.
Well…..yes!
Pump, pump, pump…
It’s the ECB, and also the rumour that the UK Chancellor Kwarteng is going to make a U-turn from his mini budget a couple of weeks ago and will rescind the tax cuts which he announced. The BoE excoriated him for it and had to step in to save the pension funds from a bond rout.
In short, a big ole dose of “hopium” injected today from the other side of the pond.
However small, it was reported this morning that interest rates were falling. The market is still a gambling casino disconnected from price discovery. Put another way – too many still not weaned from ZIRP/NIRP.
The mother’s milk of the stock market.
Meanwhile in the era of debauched money, any (like us as seniors who cannot afford to gamble in the high stakes casino that is that market) who prudently saved all our lives so we wouldn’t be reliant on the feckless government, and who expected a modest return on our money have had our legs cut out from under us and endured brutal financial repression for well over a decade.
Add in the tax which inflation is, and our (seed corn, as we call our modest savings) is chewed through at a horrifying rate.
Maybe a nasty short-squeeze… before the wheels come off.
“These people must be removed from power.”
Well, we all agree on the result, but the sticky wicket is HOW do we remove them?
If anyone says we’re gonna vote the tyrants out, please, don’t make me giggle.
HOW do we remove them?
Short answer: We cannot.
However, we can remove ourselves (State-by-State) from the union that is committing suicide, and we need to so that we don’t go over the cliff with the rest of the USSA.
texitnow.org
tnm.me
This coming election cycle will reveal if we have enough of an honest election system left to reverse this peacefully.
If there isn’t a blowout of epic proportions, then we will know.
The dems are acting as they did in 2020 not nervous at all, the fix is in and all but done. Do they have what it takes to run for all the apples at this point?
Let’s not suppress the vote on Nov. 8th. Everyone, get out and vote!
As Bannon says, “If you stay home and don’t vote, then you deserve everything you get!”
And we know that’s not going to be good.
Oh, I intend to vote—no question. I want a clear conscience.
True, sad and funny all at once. Yours is perhaps the most relevant question on the thread. I would add the question, how long do we have before we are entirely enslaved? Perhaps we have yet to come to terms with our reality. I would rather laugh than cry so I appreciate your humor formed of irony.
How? Re Elect Trump in 2024 and he will re-sign the executive order created in the latter days of his administration creating Schedule F federal employees. This expands by an order of magnitude, the number of federal employees that he can remove from their positions.
Think of it as a Celebrity Apprentice the Government edition.
Here are two close-to-home signs of what is happening. The first sign is that one of my next door neighbor’s children and their young grandchildren moved in with them last week. The young family’s furniture, what there was of it, was put into this neighbor’s garage. Their car is now parked in front of the neighbor’s house, and they don’t seem to be driving to work every day.
The second sign is that for the last several weeks, the local WinCo store where we get most of our groceries has been nearly deserted in the middle of the week when we do our shopping, and their five checkers were sitting mostly idle. It wasn’t this bad even during the height of the pandemic.
A third, I live on the entrance end of a side road to a newly developed area, my dogs begin barking when they hear the UPS truck coming (rattling) about a mile + away, they sleep all day now. One UPS truck this week, haven’t seen a FedEx in two weeks
Yes…but….the most debilitating aspect to all of this is that TPTB who created this energy crisis never built a viable transition plan.
Sort of like Afghanistan all over again.
“They are destroying the working and middle class in order to chase their climate change agenda.”
The whole “climate change agenda” is just a pretext.
They are destroying the working and middle class in order to destroy the working and middle class, leaving only serfs and nobles – the ruling elite and the slaves who do their bidding.
For a more thorough explanation, see “Cloward & Piven Strategy”.
” These people must be removed from power.”
How?
An assault upon them will likely provoke a response from the military.
The most-viable option at this point is for States where sanity and integrity still prevail to assert their right to self-determination, to gain (or regain) their independence. The Texas Nationalist Movement is leading that effort in Texas.
texitnow.org
tnm.me
The commissioners court in Edwards County (Texas) has passed a resolution calling for Texas independence.
tnm.me/news/political/edwards-county-passes-official-resolution-calling-for-texit/?goal=0_244a299551-a87e610211-321264522&mc_cid=a87e610211&mc_eid=UNIQID
They are the first, but probably not the last.
Let’s review…
“When in the Course of human, events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires they should declare the causes which improve them to the separation.”
No expiry date noted.
Correct, the ‘climate change agenda’ is a pretext for de-industrialization and the closely associated mass murder.
CO2’s greenhouse capabilities are minor compared to water vapor and its peak effectiveness is when its at current levels.
Increasing CO2 by 2x beyond current levels has almost no effect, which is a rough estimate of what would happen if we burned all the remaining fossil fuels.
Joe wants to block the sun…
WH wants to manipulate the Sun…
https://www.cnbc.com/2022/10/13/what-is-solar-geoengineering-sunlight-reflection-risks-and-benefits.html
That couldn’t POSSIBLY go wrong!
The United States is entering a period of slow growth and high inflation that will be very similar to the 1970s. Throughout that decade, the Fed kept stepping on the brakes, stepping on the gas pedal and then stepping on the brakes again. Whenever it stepped on the brakes, inflation would come down a bit. Whenever it stepped back on the gas pedal, inflation went up even higher than its last peak. The problem is that, once started, inflation gets is own momentum.
The Fed didn’t succeed in bringing inflation down to normal levels until the Reagan tax cuts increased aggregate supply at the same time that the Fed under Paul Volcker was determinedly clamping down on aggregate demand. But Biden is not lowering taxes. He is raising them. Meanwhile he is increasing government spending which is combating the Fed’s attempt to lower demand.
The wizards have forgotten one thing – debt. The level of debt in 2022 is so much higher than in 1979. Orders of magnitude. Derivatives, CDOs, etc, this is going to be an extinction level event seen from a trillion light years away.
The wizards have no idea what they’re doing, nor do they especially care as far as I can tell.
CirclinTheDrain, you may be right. Both our businesses and our federal government have a lot of debt that will soon have to be re-financed at much higher interest rates. Making the problem worse, much of this debt is owed to foreigners. There is a scenario in which this leads to hyperinflation and a collapse in the international value of the dollar.
IME, we’ve been running a debt-based economy for at least 30 years, probably longer. Those of us who operated businesses with our name on the door and owned the machinery and materials and shook hands on big deals saw the changes. Some of us changed. I did not. Asset-based to the bitter end.
Back during the last crash I opined the next one would make the that one look like a pleasant sunny Sunday afternoon. However, I didn’t count on PDJT so was four years or so off on the timing. I also didn’t envision a bioweapon being involved.
IMO, as things are it’ll be worse than the Depression my folks went through. Throw in a few wars and massive civil unrest and the general lack of respect for humans and I expect quite a pickle. I’d expect the death and destruction message sent to far exceed the example of what even the Bonus Army experienced back in ’32. God be with us.
Everything cost more because the Fed perpetually debases the currency. But yes, energy is going up thanks to China Joe.
I agree that inflation right now is the result of energy/supply side issues. Were we to continue with low interest rates and increase wages through increasing the money supply, there would be even worse inflation than currently. In this economy, I feel that the luxuries we have enjoyed will no longer be produced (at least for the masses) which ultimately will change our current lifestyle away from wants to focus on needs. Unemployment will skyrocket resulting in unrest, requiring the government to enact draconian measures. Our Freedoms, we have enjoyed, will be a thing of the past. It will only be countries that turn to God who will be able to resist the plunge into totalitarianism. We need to bring back true justice in order to preserve western civilization.
LET’S GO BRANDON!!!
“These people must be removed from power.”
But these people own the elections systems.
Yes, but are they bullet proof?/s
Wow, where to start. At times like this I think that it is important that we be honest and accurate in our assesment of the state of the world. And inflation is definitely one area where this is needed. Now, don’t get me wrong. I AM A TRUMP SUPPORTER, LETS GO BRANDON, ETC.
That said, the root cause of inflation is not energy policy. The root cause of inflation is inflated money supply. And in this case, a money supply that was inflated, at a time, when production capacity was constrained by ill advised lockdowns and “social distancing” guidelines. From March of 2020 until March of 2021 the money supply was inflated by an additional $10.6 Trillion (approximately) through a combination of fiscal and monetary policy. And here is the “honesty” part: about 2/3’s of that injection of money into the money supply happened during the Trump administration.
Now, here is the “Bidenflation” piece of the inflation problem: his energy policies have greatly constrained the supply side of the equation (Sundance is right about this) and as a result the problem of inflation has been worsened and is lasting longer than it would have if Trump had served a 2nd term. But again, the root cause is inflated money supply.
And lastly, be careful looking at visual aids that are published like the one used here. in this visual aid, notice that it refers to the categories of inflation as “core categories”. That is not correct. Energy, Apparel and Food at Home are in fact “core categories” every other item that is listed are items that fall into sub categories and sub sub categories of the CPI inflation index. You can see for yourself here: CPI Home : U.S. Bureau of Labor Statistics (bls.gov) . For example: Airfare is an item in the transportation sub category of “public transportation” and airfares make up 6/100ths (by weight) of the overall inflation number. We do not make legitimate arguments if we are using misleading information.
Sundance is also right that attempting to destroy demand by raising the cost of capital is not what is needed. The Federal Reserve, combined with Biden’s policies are leading us straight into stagflation (rising prices with falling GDP).
Hopefully, if the GOP gains control of at least the House – therefore forcing the Dem’s to negotiate; the GOP can begin to force the Dem’s and the Biden Administration to accept some supply side solutions during those negotiations. Unlike Manchin, the GOP really could ask for and get some relief on the regulatory burden side of energy policy.
What ever the case. When we talk about inflation. Let’s be clear headed and honest.
“That said, the root cause of inflation is not energy policy. The root cause of inflation is inflated money supply.”
The root cause of inflation is energy policy AND inflated money supply.
Embrace the power of “and”.
I follow 2 Trucking channels on Youtube.
The first is an owner operator in South Carolina. He is an 18-Wheeler non-Reefer Trailer guy. The load are getting scarce and the rates have been plummeting for nearly a year.
The other is small trucking company (15-20 Trucks Total) owner in Tennessee. He specializes in new boat delivery and large boat transportation. He dabbles some in potatoes and cattle. He is selling some of his heavy equipment (not trucks) and is buying cattle trailers. He is moving his focus toward hauling cattle instead of new boats. He sees the handwriting on the wall. People don’t have to have boats. But they gotta eat.
Both guys indicate that from their perspective, things are getting really serious with the underlying economy.
I got an inquiry from a neighbor the other day about their family moving from CA wondering what to focus on when investing locally. They currently operate a decades old well known surfboard shop.
I told her either focus on subsistence, serving the large subsistence economy in the area, or servicing the rich, generally Communist, niche, since they are relatively immune to economic issues which affect us. The Portland/Salem crowd.
Coming from SoCal, they’re probably more comfortable with the latter. That was my .02. Or start an OnlyFans channel, heh. Give the people what they want. Business 101. Where I live, the middle class really isn’t a thing. There isn’t one.
My hat’s off to those trying to navigate this war foisted upon us. I did it in the 70’s and again in the 2000’s. I’m done navigating/analyzing/adapting. Over and out.
Can we call it Cabal Biden?
Joe Biden doesn’t know where he is, and is set up as the scapegoat, while the people behind him will blame him, kick him out, then consolidate their gains while they select the next patsy.
Joe Biden owns non of this-he is simply too stupid and too far gone to be accountable. The finger-pointing needs to extend far beyond Joe. Accountability, and retribution, must go to all those doing this.
Bless you.
One of my peeves is reading posts where people blame this mess on Xiden’s stupidity, and make insulting remarks about him. It is part of the smoke screen. Xiden is being paid a lot of money to be the fall guy. He is not the original planner.
You are among those who see what is really going on.
Crazy isn’t it. They destroy us, and want us to blame some guy who could easily pass for a vagrant sleeping on a park bench.
I’m rereading a book The Unseen Hand. I’m weak on Economics. I can follow the broad strokes but couldn’t defend a position + can’t critique a book that includes it.
But, it seems to know what it is talking about + breaks it down for any level of reader.
So much so I always skip the parts defining Governments + Liberty + Freedom.
But the chapters on Inflation + Gold + Economy were something I wanted to revisit after listening to dire forecasts in the alternative media.
I have learned more from Sundance in the last couple of years about economics than all classes, books, etc. combined..
These Democrat Socialists have finally heeded Maggie Thatcher’s admonition about “running out of other peoples money” by moving on to spending money that doesn’t even exist in the first place.
Pepsi CFO on CNBC yesterday said price increases raised the revenue number but unit delivery (demand) was relatively flat. Most of the “new” jobs are most likely people who work taking on additional work to keep pace. Welcome to deomcrat economics. If R’s win the both sides, they should not pass another CR and demand repeal of the inflation act until Biden breaks on fossil fuel and let’s oil companies be oil companies. But Mitch is too stupid to shut it all down so we’ll be stuck.
And yet the Richard Craniums on Wall Street managed to turn a 500+ loss into a 800+ gain.
They’ve been desperately cajoling the fed to stop raising rates and return to the good old days of gorging on free fed money.
Amidst all of this bad inflationary news they found a bright spot and celebrated their fellow Americans losing ground on wages with a banner market day (for them of course).
These are some sick, self centric lumps of greed!
Inflation will never stop until the government stops printing money. High interest rates can’t stop the effects of money printing. Printed money devalues all other money in existence. Basic economics.
The “expert” who just appeared on Tucker Carlson ascribed the inflation as due to excess spending – in Trump and Biden administrations.
Pretending not to know that it is SUPPLY costs causing inflation.
I’m still not sure if the powers-that-be are trying to shrink the economy on purpose or if they are just Keynesian true believers. Keynesian economics just doesn’t care about supply side problems at all. It is dogma among modern economists that inflation is always caused by excess consumer demand.
They really do think it’s all our fault for spending too much or spending too little. It’s either “the paradox of thrift” or “animal spirits” to these egghead clowns.
What if the consumption of oil and gas is so existential to the western world, that serious reductions in consumption are simply not possible?
It’s like urging sheep to eat less grass.
The only way to save the grass is fewer sheep.
The birth rate during the great depression hit record lows (until now). Another depression might bring the nihilist Left closer to their goal of virtually no more children, than their sacrament of abortion ever could.
War is actually not a great way of reducing the population, except for the disease and starvation brought on by war. Ironically, if not for the fact Russia has nuclear weapons, the western Left would have had us in a war with Putin by now.
Co-Vid culled the oldest and sickest, so in practice it proved a redundant tool for reducing the population. The lethality of vaccination to the young may prove, in the long run, a better method of butchering us sheep. A happy coincidence for the Left? Uh, no..
Data show 0’Bama J03 doing even worse than expected, and what we expected wasn’t great…
Not many notice the nasty underbelly of money supply. I’ve been following John Williams for 20+yrs(Shadow Stats).
Go to the “money supply” charts and see what O’Biden and his muppet handlers have done since he was installed into the WH. M1 is out of control and all of this was done by design, all of it.
The Fed thinks we are stupid. The Fed knows the inflation problem is not on the demand side but on the supply side. They have no answer so they fall back to the hammer which is the only tool they have in their toolbox other than the blank check. We know that they know but they don’t know that we know what they know. They are crashing the economy purposefully to implement a digital currency which means we will all be owned/controlled by the bankers. What they don’t know is there is only so much of this sh*t we are going to take before we let them know there are more of us than there are of them and we are not going to take it anymore.
“Last month (September), the retail price for fresh boneless, skinless turkey breast hit a record high of $6.70 per pound, according to AFBF’s report. That’s 112% higher than the same time last year when it was around $3.16 per pound.”
THE RUSSIANS DID THIS MY ASS!
With extreme prejudice!
There are some people that I am going to thoroughly enjoy seeing going down and scrounging around to survive.