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Post by Sigurdur on Jun 11, 2022 17:05:09 GMT
www.politico.com/news/2022/06/10/inflation-report-00038785Inflation surprise: Here's what's inside the red-hot CPI report The increase in CPI was broad-based — driven by rising prices for shelter, gasoline and food — offering little comfort to those who had suggested that inflation would begin to ease.
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Post by missouriboy on Jun 11, 2022 18:10:02 GMT
I think some MMT enthusiasts are getting red pilled. I'm not a fan, I like real money. But, we have to admit that QE has been running full steam for over 20 years. Inflation did not appear until about last Fall. It was all of the covid stimulus, unrepaid covid loans, and forced covid logistical and supply constraints which have caused inflation IMO. Too much cash. QE had the effect of increasing asset prices artificially, for better or worse.
They are about to pay the bill for all that QE right now. Wasn't this the first month of QT? and the market will unwind to 2020 levels in nominal terms, maybe 2017 levels in real terms.
The cash inflation which we are all complaining about was more fiscal than monetary in nature I think.
If you want people to take an interest in government policy, then ALL social adjustments for inflation should cease. For both the rich and poor. No more government subsidies. Time for all government subsidies to cease. To me the "red pill" is probably closer to what it would mean in Europe ... Communists. |
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Post by Sigurdur on Jun 11, 2022 18:26:18 GMT
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Post by walnut on Jun 12, 2022 0:43:17 GMT
For the Nasdaq 100 (QQQ), this pullback is already slightly worse than the March 2020 one. And I think this one is not finished yet.
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Post by blustnmtn on Jun 12, 2022 1:23:51 GMT
www.zerohedge.com/markets/its-worse-many-can-imagine-kim-dotcom-sees-controlled-demolition-enabling-new-dystopian“total US debt is at $90 trillion, which together with $169 trillion in US unfunded liabilities totals $259 trillion, which is $778,000 per US citizen or $2,067,000 per US Taxpayer. Now, the value of all US assets combined: every piece of land, real estate, all savings, all companies, everything that all citizens, businesses, entities and the state own is worth $193 trillion. Our total debt, $259 trillion minus our total net worth, $193 trillion equals negative $66 trillion of debt and liabilities after every asset in the US has been sold off. So even if the US could sell all assets at the current value, which is impossible, it would still be broke”
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Post by missouriboy on Jun 12, 2022 6:22:16 GMT
But the landlords can't really sell out and flee as they are stuck in the mud hole as well. When the smoke clears, those items that have always had real value will emerge again as the solid base around which the new economy will consolidate ... for those who are NOT in debt up to their ears.
Here, on top of a mountain in Tuscany (Volterra), life goes on, without much drama it appears. With no Italian baseline to consult, food prices seem high here by Mid-Western standards. Example from memory, approx. $8-$16 per kilo for lower cuts of beef. On the other hand, vegetables and fruit seem similar. And those that are in season like apricots and cherries are downright cheap ... for now.
Financials were clubbed like a baby seal on the week while Energy stocks tried to get back to even this afternoon but closed red leaving them the prettiest horse in the glue factory.
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Post by gridley on Jun 13, 2022 11:52:04 GMT
www.zerohedge.com/markets/its-worse-many-can-imagine-kim-dotcom-sees-controlled-demolition-enabling-new-dystopian“total US debt is at $90 trillion, which together with $169 trillion in US unfunded liabilities totals $259 trillion, which is $778,000 per US citizen or $2,067,000 per US Taxpayer.Now, the value of all US assets combined: every piece of land, real estate, all savings, all companies, everything that all citizens, businesses, entities and the state own is worth $193 trillion. Our total debt, $259 trillion minus our total net worth, $193 trillion equals negative $66 trillion of debt and liabilities after every asset in the US has been sold off. So even if the US could sell all assets at the current value, which is impossible, it would still be broke” The $700k per citizen is, of course, very bad - but they almost pointed out an equally serious problem: only about one in three citizens are taxpayers. |
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Post by flearider on Jun 13, 2022 17:23:24 GMT
so 2 ways this could go ..well possibly 3 ... 1: the usa implodes and becomes either many country's or a third world .. 2:they just change to a different money but would be hard to do .. 3:for this one they have not got enough infrastructure basically go into hibernation .. just tell everyone they owe money to to feck off .. what ever happens will be felt around the world ..popcorn at the ready  |
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Post by missouriboy on Jun 13, 2022 18:08:59 GMT
so 2 ways this could go ..well possibly 3 ... 1: the usa implodes and becomes either many country's or a third world .. 2:they just change to a different money but would be hard to do .. 3:for this one they have not got enough infrastructure basically go into hibernation .. just tell everyone they owe money to to feck off .. what ever happens will be felt around the world ..popcorn at the ready  I fear he's right Flea. A good stockpile of required commodities is always a good thing to have on hand, even in good times. In bad times it's essential ... along with a supply of firearm insurance. His concept of a 2-year supply of essentials seems quite reasonable ... and quite doable. And I'm approaching that level. It's been pretty cheap so far. And as for firepower, Code I believe is a good person ... but he puts too much faith in the common criminal, who is for the most part a worthless creature of low morals, who only responds to absolute force in a crisis. The West was civilized when the criminals were physically exterminated. Then they got elected to political office. |
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Post by missouriboy on Jun 13, 2022 18:18:13 GMT
www.zerohedge.com/markets/its-worse-many-can-imagine-kim-dotcom-sees-controlled-demolition-enabling-new-dystopian“total US debt is at $90 trillion, which together with $169 trillion in US unfunded liabilities totals $259 trillion, which is $778,000 per US citizen or $2,067,000 per US Taxpayer.Now, the value of all US assets combined: every piece of land, real estate, all savings, all companies, everything that all citizens, businesses, entities and the state own is worth $193 trillion. Our total debt, $259 trillion minus our total net worth, $193 trillion equals negative $66 trillion of debt and liabilities after every asset in the US has been sold off. So even if the US could sell all assets at the current value, which is impossible, it would still be broke” The $700k per citizen is, of course, very bad - but they almost pointed out an equally serious problem: only about one in three citizens are taxpayers. If and when they come around trying to collect on wealth that is not mortgaged through confiscation or property tax hikes, I suggest they will need a well-armed army. |
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Post by code on Jun 13, 2022 20:37:27 GMT
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Post by missouriboy on Jun 14, 2022 7:03:34 GMT
www.zerohedge.com/markets/its-worse-many-can-imagine-kim-dotcom-sees-controlled-demolition-enabling-new-dystopian“total US debt is at $90 trillion, which together with $169 trillion in US unfunded liabilities totals $259 trillion, which is $778,000 per US citizen or $2,067,000 per US Taxpayer.Now, the value of all US assets combined: every piece of land, real estate, all savings, all companies, everything that all citizens, businesses, entities and the state own is worth $193 trillion. Our total debt, $259 trillion minus our total net worth, $193 trillion equals negative $66 trillion of debt and liabilities after every asset in the US has been sold off. So even if the US could sell all assets at the current value, which is impossible, it would still be broke” The $700k per citizen is, of course, very bad - but they almost pointed out an equally serious problem: only about one in three citizens are taxpayers. So, are most inner-city populations, and the most-indebted portion of the so-called American middle class, toast? Does North America redirect / focus wealth production on commodities and industrial production that are oriented to North America? Absent rare earth minerals and certain exotics, what does the World produce that we absolutely need to survive? I believe that this a simple extention of the Trump Plan. |
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Post by glennkoks on Jun 14, 2022 11:27:02 GMT
I don't give into the gloom and doom. Yes we have problems, but we have had problems before and came out on top. China, Russia and any other challengers set to topple us as the worlds reserve currency all have issues of their own. Sooner or later we are just going to have to get back to the fundamentals. First and foremost we need a budget and then we need to live within that budget.
I think we are in for some tough economic times. We have been through them before and always came out on top. I have no reason to think we don't have it in us again.
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Post by ratty on Jun 14, 2022 11:32:37 GMT
I don't give into the gloom and doom. Yes we have problems, but we have had problems before and came out on top. China, Russia and any other challengers set to topple us as the worlds reserve currency all have issues of their own. Sooner or later we are just going to have to get back to the fundamentals. First and foremost we need a budget and then we need to live within that budget. I think we are in for some tough economic times. We have been through them before and always came out on top. I have no reason to think we don't have it in us again. |
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Post by glennkoks on Jun 14, 2022 12:10:59 GMT
I went to a funeral in Austin, Texas on Sunday. Not having been there in years I was shocked at the number of huge Apartment complexes that were popping up everywhere. Dozens and dozens of them it seemed everywhere. My wife asked me a good question. Where are all the people living now that are going to be renting these new apartments? Then it dawned on me that there are not enough people to occupy all these apartments. They like the Apartment buildings in China that have been sitting vacant were built with free money provided by reserve banks. The result of QE. Free money has consequences and now we have to pay them.
We all heard what Jamie Dimon said about an economic hurricane coming. But few of us heard the rest of his comments:
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