Thanks for the breakdown. In Australia, we are really only seeing the early stages of food inflation, it has crept up because, covid.😉 but its just become noticable, across the board.
It feels like we are running behind USA by about 9-12months. Or we are ahead by the same😉
Regardless, I think pur energy prices will go skyrocket within the next 6months.
Other than pasta, my food prices have been pretty steady. Chicken, hamburger & pork periodically go on sale, so I stock up, cook & freeze. In fact, lately even bacon has been on sale, so I've been indulging a bit there.
It's heating I fear for. Maine winters are not for the faint of heart. So far, tho, propane has been holding steady so my plan is to rely on my propane backup heater for kitchen, bath, family room & bedroom, & let rest chill. I'll save the oil for the below zero weather.
This is very simple. If you increase the money supply, you increase inflation. The Federal Reserve (which is NOT a Federal agency, BTW) printed TRILLIONS of fiat currency in a few short months. Guess what that means - INFLATION. Nothing else matters.
It would be difficult to overstate the degree of economic illiteracy and incompetence that has held sway at the Fed for years at this point.
Since 2008 they have tried mightily to induce consumer price inflation to "grow" the economy (which it doesn't). Now that they have consumer price inflation they are panicking about how to turn it off--something they didn't plan on doing.
Production matters. If production keeps up with inflated $$ supply, prices stay steady.
Of course, our "superiors" smartly moved production overseas, killed local oil drilling, and sanctioned Russia, ensuring we'd have trillions more $$ chasing fewer & fewer goods.
But Peter, the elected officials don't coordinate anything, they don't even write the legislation, they just maintain the "Big Show" and do as they are told, unless they are like Joe Xiden, and can't even read a teleprompter, much less run a couple of coherent thoughts.
Yes, we have a lack of a managed economy, but no lack of a managed decline.
Katherine Watt has shown how the necessary legislation has been passed, even though these politicos don't even know what it is for, hell. they didn't write it!
The primary thing is the destruction of the energy sector, and the resulting trillion dollar less investment in it. So much damage has been done it is essentially unrecoverable.
What we have are elected officials who preen and posture and pretend to know what they are doing while acting like they are in control--neither of which is true.
We have bureaucrats who pull the strings on elected officials in a marionette's dance.
We have corporate elites buying the bureaucrats to gain favored status for their particular agenda.
Nowhere in this toxic swamp of cretinism and corruption do we have anything resembling coherent management.
This is not a "managed decline". This is potentially a straight up crash. We know its going to be bad. We know its getting worse. What we have no way to know are how bad and how much worse it is going to be.
There are plenty of players who think they have their hand on the steering wheel here--and not one of them actually does. Which is by far the scariest part of all this.
Thanks for the breakdown. In Australia, we are really only seeing the early stages of food inflation, it has crept up because, covid.😉 but its just become noticable, across the board.
It feels like we are running behind USA by about 9-12months. Or we are ahead by the same😉
Regardless, I think pur energy prices will go skyrocket within the next 6months.
Other than pasta, my food prices have been pretty steady. Chicken, hamburger & pork periodically go on sale, so I stock up, cook & freeze. In fact, lately even bacon has been on sale, so I've been indulging a bit there.
It's heating I fear for. Maine winters are not for the faint of heart. So far, tho, propane has been holding steady so my plan is to rely on my propane backup heater for kitchen, bath, family room & bedroom, & let rest chill. I'll save the oil for the below zero weather.
This is very simple. If you increase the money supply, you increase inflation. The Federal Reserve (which is NOT a Federal agency, BTW) printed TRILLIONS of fiat currency in a few short months. Guess what that means - INFLATION. Nothing else matters.
It would be difficult to overstate the degree of economic illiteracy and incompetence that has held sway at the Fed for years at this point.
Since 2008 they have tried mightily to induce consumer price inflation to "grow" the economy (which it doesn't). Now that they have consumer price inflation they are panicking about how to turn it off--something they didn't plan on doing.
I'm sorry, it's not "economic illiteracy and incompetence." They know exactly what their doing and why their doing it.
Having watched Jay Powell fumble and stumble through a press conference I have grave doubts he even knows why he gets up in the morning.
Nervous while lying?
My general take is that he's just an idiot.
Production matters. If production keeps up with inflated $$ supply, prices stay steady.
Of course, our "superiors" smartly moved production overseas, killed local oil drilling, and sanctioned Russia, ensuring we'd have trillions more $$ chasing fewer & fewer goods.
The hidden gotcha in every theory of a "managed" economy--everything has to move in perfect coordination or the result is a perfect catastrophe.
And if there's one thing bureaucrats everywhere cannot manage it is coordination of anything.
But Peter, the elected officials don't coordinate anything, they don't even write the legislation, they just maintain the "Big Show" and do as they are told, unless they are like Joe Xiden, and can't even read a teleprompter, much less run a couple of coherent thoughts.
Yes, we have a lack of a managed economy, but no lack of a managed decline.
Katherine Watt has shown how the necessary legislation has been passed, even though these politicos don't even know what it is for, hell. they didn't write it!
The primary thing is the destruction of the energy sector, and the resulting trillion dollar less investment in it. So much damage has been done it is essentially unrecoverable.
What we have are elected officials who preen and posture and pretend to know what they are doing while acting like they are in control--neither of which is true.
We have bureaucrats who pull the strings on elected officials in a marionette's dance.
We have corporate elites buying the bureaucrats to gain favored status for their particular agenda.
Nowhere in this toxic swamp of cretinism and corruption do we have anything resembling coherent management.
This is not a "managed decline". This is potentially a straight up crash. We know its going to be bad. We know its getting worse. What we have no way to know are how bad and how much worse it is going to be.
There are plenty of players who think they have their hand on the steering wheel here--and not one of them actually does. Which is by far the scariest part of all this.
Well they have managed to create something that can't be stopped at this or perhaps any point. But there is one thing we can do.
Dutch : “You can’t win this Dillon.”
Dillon : “Maybe I can get even.“
—Predator
What people often forget is that rarely if ever does the world yield to our control.
The great lie the elites tell themselves is that they are in control. They aren't. They never have been.
What we are seeing now is the lack of any actual control being revealed.
🎯