Yesterday Jerome Powell stated that the US economy is in “remarkably good shape”—in itself a remarkable rebuke to those Americans who voted for Trump based on the economy.
The (Very Fake) US economy is the bestest ever, no kidding & not a joke, J. Powell sez so . . .
Now for short dose of reality.
In 1964 the federal minimum wage was $1.25 an hour, five 90% silver quarter Dollar coins, those five quarters are worth about $33 melt value today, would be about 68,000 a year. In 1963 my 32 year old father as the sole breadwinner for a family of 4 earned $500 a month salary, bought a brand new 1600 sq. ft. house in Abilene, Texas, 30yr. mortgage payment of $102 mo. I'm sure there wasn't much left over after paying all the bills.
More sarcasm.
Thanks a lot to LBJ, Tricky Dick, Gerald (born Leslie Lynch King Jr.), Jimmy, Ronnie, Bush The Elder, Billy, W. , Barry O' Zero, Donald & Josef, y'all done a real good job improving the lot of the average 'merican !!!
Truth bombs re: the economy and "terror." Re: your statement about Wall Street, take a look at how much more financially leveraged / overvalued the stock market is vs. GDP now vs. 40 yrs, ago (basically x5 more valuation now):
Given these facts, how can Powell say the economy is doing well? He said this is all sustainable for now if fiscal spending doesn't get worse. Really?
Also, Trump intends to increase defense spending and cut taxes, just like Reagan did. Can anyone see that Reagan had a much easier macroeconomic environment in which to do this? And he will have to work with a Fed chairman who apparently has a somewhat tenuous relationship with reality.
On today's (12/5/24) Bloomberg Australia podcast, Rebecca Jones host, topic was housing prices in Australia. At 12:36 they spoke of effect of Trump election as follows: Fed. Reserve will cut interest rates less than expected because Trump's policies are considered to be inflationary with more gov. spending, tax cuts and tariffs....https://www.youtube.com/watch?v=3M7kuEpX_u0
AmCon had an article by Bandow suggesting that Trump was preparing to pull a Nixon--when Nixon escalated to force the North Vietnamese to negotiate. That was then--I can't recall whether it really worked or not--but now is a very different situation. Actually, I think that's just a foolish bluff that should be dropped.
Well, yeah, the old "Tricky Dick" is crazy and scared the shit out of them theory. As you often note, simplistic explanations like that aren't accurate and don't cut it. As you have also noted, Putin is much smarter than to fall for bluster when there is nothing there (militarily or financially) to back it up.
Good day and thanks for both this article and the follow up on Mike Benz' conversation with Rogan---Mr. Pilkington is enlightening very much as well. In addition, yesterday's Duran panel discussion among glen Diesen, Alexander Mercouris and Steve Turley is a huge mind-opener to the philosophical framing of big picture totalitarian currents. Dr. Turley's perspective is aura-like to Mike Benz' true facts.
Well, some might say he is the mouthpiece for a counter-elite that has formed and is warring with other elites over who gets to steer the American empire. So I'm guessing Joe Rogan is very well protected in delivering his messages, like Tucker Carlson. We'll see!
Sarcasm alert !
The (Very Fake) US economy is the bestest ever, no kidding & not a joke, J. Powell sez so . . .
Now for short dose of reality.
In 1964 the federal minimum wage was $1.25 an hour, five 90% silver quarter Dollar coins, those five quarters are worth about $33 melt value today, would be about 68,000 a year. In 1963 my 32 year old father as the sole breadwinner for a family of 4 earned $500 a month salary, bought a brand new 1600 sq. ft. house in Abilene, Texas, 30yr. mortgage payment of $102 mo. I'm sure there wasn't much left over after paying all the bills.
More sarcasm.
Thanks a lot to LBJ, Tricky Dick, Gerald (born Leslie Lynch King Jr.), Jimmy, Ronnie, Bush The Elder, Billy, W. , Barry O' Zero, Donald & Josef, y'all done a real good job improving the lot of the average 'merican !!!
Truth bombs re: the economy and "terror." Re: your statement about Wall Street, take a look at how much more financially leveraged / overvalued the stock market is vs. GDP now vs. 40 yrs, ago (basically x5 more valuation now):
https://www.gurufocus.com/economic_indicators/4602/usa-ratio-of-total-market-cap-over-gdp
Then, take a look at how much debt we have as individuals + the federal government as a % of GDP vs. 40 yrs ago:
https://fred.stlouisfed.org/series/GFDEGDQ188S
Given these facts, how can Powell say the economy is doing well? He said this is all sustainable for now if fiscal spending doesn't get worse. Really?
Also, Trump intends to increase defense spending and cut taxes, just like Reagan did. Can anyone see that Reagan had a much easier macroeconomic environment in which to do this? And he will have to work with a Fed chairman who apparently has a somewhat tenuous relationship with reality.
On today's (12/5/24) Bloomberg Australia podcast, Rebecca Jones host, topic was housing prices in Australia. At 12:36 they spoke of effect of Trump election as follows: Fed. Reserve will cut interest rates less than expected because Trump's policies are considered to be inflationary with more gov. spending, tax cuts and tariffs....https://www.youtube.com/watch?v=3M7kuEpX_u0
AmCon had an article by Bandow suggesting that Trump was preparing to pull a Nixon--when Nixon escalated to force the North Vietnamese to negotiate. That was then--I can't recall whether it really worked or not--but now is a very different situation. Actually, I think that's just a foolish bluff that should be dropped.
Well, yeah, the old "Tricky Dick" is crazy and scared the shit out of them theory. As you often note, simplistic explanations like that aren't accurate and don't cut it. As you have also noted, Putin is much smarter than to fall for bluster when there is nothing there (militarily or financially) to back it up.
I’ve followed Benz for while, I find his work fascinating and scary at the same time. I hope he has better security than United Healthcare executives.
I listened to Joe's talk with Mike last night...its a doozy!
Good day and thanks for both this article and the follow up on Mike Benz' conversation with Rogan---Mr. Pilkington is enlightening very much as well. In addition, yesterday's Duran panel discussion among glen Diesen, Alexander Mercouris and Steve Turley is a huge mind-opener to the philosophical framing of big picture totalitarian currents. Dr. Turley's perspective is aura-like to Mike Benz' true facts.
Tx Joanne, I'll have to check that out.
Rogan targeted by National Security State in 5, 4, 3, 2, 1 …
Well, some might say he is the mouthpiece for a counter-elite that has formed and is warring with other elites over who gets to steer the American empire. So I'm guessing Joe Rogan is very well protected in delivering his messages, like Tucker Carlson. We'll see!