This will be a sort of news roundup, touching a variety of bases, but the intersection of politics and economics will hopefully bind it all together. Tom Luongo has been predicting an eventful September, and the month is already shaping up that way.Thanks for reading Meaning In History! Subscribe for free to receive new posts and support my work.
My only comment is that in my area of the US (New England) pay has certainly KEPT up with inflation. Nurses in my area can make $1000 a day during a 12 hour shift. Sure, they work in difficult circumstances for sure but so do others. Not being critical - I guess but nurse compensation is not an issue here. I would add the caveat that, if you ask them they may disagree.
Regarding economists in general, Harry Truman once remarked,”If you laid all the economists in the world end to end they’d still point in all directions.”
I don't recall if I ever said this here, so here goes something:
3 USC § 5 should require all 50 state legislatures to meet after each presidential election for the purpose of affirming the election result presented to the legislature by that state's Secretary of State . . absent substantial controversies. In the event that there are substantial controversies, the state legislature would have the power to select the slate of Electors of their choosing or to withhold the Electors from their state, according to state law. This would moot all pending litigation.
Regarding the CPI report and market reaction, the Fed funds rate ought to already be more than 10%. When the market loses all the bogus gains, probably 50%, that would be about right IMO. This country needs many, many doses of reality and no more doses of soma from big Gov. and big pharma !!!
I am not particularly shocked by the CPI report. I AM shocked that "47 out of 50" economists missed the forecast.
I mean, what else would one expect but inflation when 1) Over the last two years the U.S. government has handed out massive amounts of cash directly to the public (cash which was printed out of thin air) thus increasing the broad money supply and driving up both demand and prices at a time of constricted supply; and 2) The Biden admin has done everything it could to drive up energy prices and limit energy supply - energy being the one commodity that affects virtually ALL pricing for the delivery of goods and services in this country; and 3) Supply chain problems associated with COVID and (government caused) geopolitical volatility have lessened efficiencies and heightened the costs of delivery of goods.
The following chart shows just how much worse inflation has become and how broadly based it is now:
The current inflation is not something that can be fixed by the Fed alone and it is not something that can be fixed by the Biden admin waving a magic wand (or checkbook). It is going to take time for all of the effects of the causes listed above to subside - and those causes need to be eliminated pronto. #1 The government has got to stop printing and distributing more money directly into the economy. #2 Carbon-based energy production needs to be unleashed. #3 Supply chains need to be reset to be made fairly reliable again (and redundant).
I mean, I'm not that surprised at a lot of economists being wrong, but I am surprised at how few there were who made what seemed to me to be an obvious call.
Yeah, In general I am starting to wonder if there are any experts who really are experts.... Many times it doesn't seem like you need an advanced degree to arrive at some rather obvious conclusions.
"Whatever anyone may think about the military situation in Ukraine, there is no doubt that the Europe is a major loser—indeed, it’s clear that Europe is heading into winter facing an energy crisis that they have no plan for dealing with. The leaders have made clear that they know they will face civil unrest, but that they don’t care. They will double down on support for Ukraine and will use their highly capable riot police to crush domestic opposition"
I have wondered at three in the morning if part of the rationale for what Europe has done is to force their people to make do with less because the Green religion demands it. Even if the sanctions were cost free for Germany, they would have no impact on the Russian war effort, as it requires little or no foreign currency. (Reports of Russia buying up artillery ammunition from North Kores are, so far as I know, still unconfirmed, and the stuff could have been paid for in oil for all I know)
Maybe they didn't plan it that way, Cord, but they are certainly using it to that end. Here in Switzerland, the pols have gone from offering solutions to telling us that there is nothing that can be done. The energy crisis is just a random Act of God. One of the many titanic conflicts that will work out over the next few years is whether the Green fruitcakes can really force us all back into the Dark Ages. Much as my opinion of the human race has deteriorated these last few years, I can't imagine the lazy, shiftless masses of the modern age giving up all their toys to please Greta and Gaia.
A global mmer of hope? From Rand Paul’s article at Zerohedge today:
This weekend thousands of Austrians took to the streets in a “Freedom Rally” to demand an end to sanctions and the opening of Nord Stream II, the gas pipeline on the verge of opening earlier this year. Last week an estimated 100,000 Czechs took to the streets of Prague to protest NATO and EU policy. In France, the “Yellow Vests” are back in the streets protesting the destruction of their economy in the name of “defeating” Russia in Ukraine. In Germany, Serbia, and elsewhere, protests are gearing up.
"The green religion demands it." Yes, and the Greens are the ideological foot soldiers of the WEF. There is certainly an argument to be made that this is an attempt to condition the Europeans to lower their standard of living expectations in order to "save the planet." But at the same time, the WEF and their acolytes do not believe people's acceptance makes a difference in the end. The European civilization needs to be destroyed even in the face of violent social unrest so that it can be "built back better."
While the Republicans sit on their collective asses and do pretty much nothing, we are facing a sh**storm of historic consequences. Momentum is building economically, politically and militarily and the only thing that stands out is incompetence and an elite that lives in a world that does not exist apart from their own deluded thinking.
This political purge is another nail in the coffin of the country. I’m wondering if your site is being monitored for evidence that those of us who comment here should be paid a visit by a member of the SS, Gestapo, Stasi, or whatever the hell you want to call the system we have, because it’s surely not any type of Justice system!
Rail Workers and Nurses are about to strike? I am sure inflation is hurting them like all of us but they got jobs, seems they're a lot better off than those who have to compete with Foreign Competition that have been the darlings of our Globalists. The California Nurses Union marched on Meg Whitman's private residence in 2010, 1,000 of them. I got no pity for them, the average salary for an RN Nationally is $82,750.00, and in California $124,000.00 according to Incredible Health.com. They got jobs and that's a lot better than lot's but I do suppose it's all about the patients just like the Teacher's Union is all about the kids.......
Re Zaporozhye NPP - Scott Ritter reposted from Intel Slava telegram channel that there is a build up of Ukrainian military in the area. Maybe another offensive and if so I'd hazard a guess that Russian gloves are off. Re Biden's purge - I'm praying for America.
Two months out from the mid-term and the country is falling apart. The donkeys must have a plan to hold onto power with all the ham-handed moves they're making; not only the DOJ/FBI tactics but the economic hurricane barreling toward Brandon, et. al. Speaking of hurricanes, I'm reading this has been one of the quietest hurricane seasons on record.
Time for Mayor Buttplug to go on paternity leave again? It's fortuitous that he and his husband have no biological limits to the number of children they can have in a year! He could sit things out until January 2025--and still retain his girlish figure.
It was the best of times, , , , Aw Hell no! It was the worst of times and it's all due to the idiocy of those in charge who believe their own BS more than they believe actual ground truth data. This is truly Divine Punishment for the Democrats stealing the last election. Locusts and frogs will be next.
Wow. You cover all bases. Except maybe the Ukraine this time, where the only thing I know for sure is not to trust the media. Hard to believe that Russia, with air superiority, is in dire straits, and even more ridiculous is that Putin is in trouble. In any case, if true, his replacement would be less restrained in attacking the Ukrainians (and NATO, if present). Strategic withdrawal, to bring the enemy out into the field?
A judge on the case in Washington has already stated that the J6ers must be treated harshly because they deny the results of an election. The FBI confronted a businessman eating in a restaurant and demanded his cellphone and password. Maybe just being a businessman in Amerika exposes you to Kafkaesque treatment. Who knew? Of course if he ever had dealings with Trump.....
So how does the FBI deal with workers who are "Quiet Quitters"?
All that remains to be said is the Dow Jones lost 1276, or 3.94% today.
Re the possible rail strike:
https://amgreatness.com/2022/09/14/democrats-october-surprise-may-strike-a-month-early/
My only comment is that in my area of the US (New England) pay has certainly KEPT up with inflation. Nurses in my area can make $1000 a day during a 12 hour shift. Sure, they work in difficult circumstances for sure but so do others. Not being critical - I guess but nurse compensation is not an issue here. I would add the caveat that, if you ask them they may disagree.
Regarding economists in general, Harry Truman once remarked,”If you laid all the economists in the world end to end they’d still point in all directions.”
Seems about right.
Thanks for the good belly laugh 😆
Hey man, it’s just Common Sense 😂
I couldn’t help myself!!
I don't recall if I ever said this here, so here goes something:
3 USC § 5 should require all 50 state legislatures to meet after each presidential election for the purpose of affirming the election result presented to the legislature by that state's Secretary of State . . absent substantial controversies. In the event that there are substantial controversies, the state legislature would have the power to select the slate of Electors of their choosing or to withhold the Electors from their state, according to state law. This would moot all pending litigation.
Regarding the CPI report and market reaction, the Fed funds rate ought to already be more than 10%. When the market loses all the bogus gains, probably 50%, that would be about right IMO. This country needs many, many doses of reality and no more doses of soma from big Gov. and big pharma !!!
I am not particularly shocked by the CPI report. I AM shocked that "47 out of 50" economists missed the forecast.
I mean, what else would one expect but inflation when 1) Over the last two years the U.S. government has handed out massive amounts of cash directly to the public (cash which was printed out of thin air) thus increasing the broad money supply and driving up both demand and prices at a time of constricted supply; and 2) The Biden admin has done everything it could to drive up energy prices and limit energy supply - energy being the one commodity that affects virtually ALL pricing for the delivery of goods and services in this country; and 3) Supply chain problems associated with COVID and (government caused) geopolitical volatility have lessened efficiencies and heightened the costs of delivery of goods.
The following chart shows just how much worse inflation has become and how broadly based it is now:
https://twitter.com/johnauthers/status/1569669120714543105
The current inflation is not something that can be fixed by the Fed alone and it is not something that can be fixed by the Biden admin waving a magic wand (or checkbook). It is going to take time for all of the effects of the causes listed above to subside - and those causes need to be eliminated pronto. #1 The government has got to stop printing and distributing more money directly into the economy. #2 Carbon-based energy production needs to be unleashed. #3 Supply chains need to be reset to be made fairly reliable again (and redundant).
Agreed. Just goes to show you, right?
I mean, I'm not that surprised at a lot of economists being wrong, but I am surprised at how few there were who made what seemed to me to be an obvious call.
Yeah, In general I am starting to wonder if there are any experts who really are experts.... Many times it doesn't seem like you need an advanced degree to arrive at some rather obvious conclusions.
"Whatever anyone may think about the military situation in Ukraine, there is no doubt that the Europe is a major loser—indeed, it’s clear that Europe is heading into winter facing an energy crisis that they have no plan for dealing with. The leaders have made clear that they know they will face civil unrest, but that they don’t care. They will double down on support for Ukraine and will use their highly capable riot police to crush domestic opposition"
I have wondered at three in the morning if part of the rationale for what Europe has done is to force their people to make do with less because the Green religion demands it. Even if the sanctions were cost free for Germany, they would have no impact on the Russian war effort, as it requires little or no foreign currency. (Reports of Russia buying up artillery ammunition from North Kores are, so far as I know, still unconfirmed, and the stuff could have been paid for in oil for all I know)
Maybe they didn't plan it that way, Cord, but they are certainly using it to that end. Here in Switzerland, the pols have gone from offering solutions to telling us that there is nothing that can be done. The energy crisis is just a random Act of God. One of the many titanic conflicts that will work out over the next few years is whether the Green fruitcakes can really force us all back into the Dark Ages. Much as my opinion of the human race has deteriorated these last few years, I can't imagine the lazy, shiftless masses of the modern age giving up all their toys to please Greta and Gaia.
A global mmer of hope? From Rand Paul’s article at Zerohedge today:
This weekend thousands of Austrians took to the streets in a “Freedom Rally” to demand an end to sanctions and the opening of Nord Stream II, the gas pipeline on the verge of opening earlier this year. Last week an estimated 100,000 Czechs took to the streets of Prague to protest NATO and EU policy. In France, the “Yellow Vests” are back in the streets protesting the destruction of their economy in the name of “defeating” Russia in Ukraine. In Germany, Serbia, and elsewhere, protests are gearing up.
We can only hope…
correction: Ron Paul
Let's hope so, ML!
that’s “glimmer”
Absolutely right!
"The green religion demands it." Yes, and the Greens are the ideological foot soldiers of the WEF. There is certainly an argument to be made that this is an attempt to condition the Europeans to lower their standard of living expectations in order to "save the planet." But at the same time, the WEF and their acolytes do not believe people's acceptance makes a difference in the end. The European civilization needs to be destroyed even in the face of violent social unrest so that it can be "built back better."
While the Republicans sit on their collective asses and do pretty much nothing, we are facing a sh**storm of historic consequences. Momentum is building economically, politically and militarily and the only thing that stands out is incompetence and an elite that lives in a world that does not exist apart from their own deluded thinking.
This political purge is another nail in the coffin of the country. I’m wondering if your site is being monitored for evidence that those of us who comment here should be paid a visit by a member of the SS, Gestapo, Stasi, or whatever the hell you want to call the system we have, because it’s surely not any type of Justice system!
This is just unbelievable.
Rail Workers and Nurses are about to strike? I am sure inflation is hurting them like all of us but they got jobs, seems they're a lot better off than those who have to compete with Foreign Competition that have been the darlings of our Globalists. The California Nurses Union marched on Meg Whitman's private residence in 2010, 1,000 of them. I got no pity for them, the average salary for an RN Nationally is $82,750.00, and in California $124,000.00 according to Incredible Health.com. They got jobs and that's a lot better than lot's but I do suppose it's all about the patients just like the Teacher's Union is all about the kids.......
No sympathy either. I got tired of being lectured to by crazy Covid karens in nurses' uniforms.
Re Zaporozhye NPP - Scott Ritter reposted from Intel Slava telegram channel that there is a build up of Ukrainian military in the area. Maybe another offensive and if so I'd hazard a guess that Russian gloves are off. Re Biden's purge - I'm praying for America.
Putin needs to decide if he's going to get the job done for good or continue shadow boxing.
Two months out from the mid-term and the country is falling apart. The donkeys must have a plan to hold onto power with all the ham-handed moves they're making; not only the DOJ/FBI tactics but the economic hurricane barreling toward Brandon, et. al. Speaking of hurricanes, I'm reading this has been one of the quietest hurricane seasons on record.
They are definitely building a massive fake case against Trump. And they aren't scared of any 11th Circuit judge nixxing them.
Time for Mayor Buttplug to go on paternity leave again? It's fortuitous that he and his husband have no biological limits to the number of children they can have in a year! He could sit things out until January 2025--and still retain his girlish figure.
Can you stop already with the "husband" stuff? A husband is a man married to a woman. Don't use their language.
Please. He and his “husband.” If you must use their make-believe language, at least put it in scare quotes.
On rhat note, I can’t wait til the Eiffel Tower is lit in blue and yellow - oh wait, it’s lights out in the City of Light…it is truly preposterous.
It was the best of times, , , , Aw Hell no! It was the worst of times and it's all due to the idiocy of those in charge who believe their own BS more than they believe actual ground truth data. This is truly Divine Punishment for the Democrats stealing the last election. Locusts and frogs will be next.
Wow. You cover all bases. Except maybe the Ukraine this time, where the only thing I know for sure is not to trust the media. Hard to believe that Russia, with air superiority, is in dire straits, and even more ridiculous is that Putin is in trouble. In any case, if true, his replacement would be less restrained in attacking the Ukrainians (and NATO, if present). Strategic withdrawal, to bring the enemy out into the field?
A judge on the case in Washington has already stated that the J6ers must be treated harshly because they deny the results of an election. The FBI confronted a businessman eating in a restaurant and demanded his cellphone and password. Maybe just being a businessman in Amerika exposes you to Kafkaesque treatment. Who knew? Of course if he ever had dealings with Trump.....
So how does the FBI deal with workers who are "Quiet Quitters"?
All that remains to be said is the Dow Jones lost 1276, or 3.94% today.