It's not illegal if Congress is complicit
No fatal mistakes
“I write so that knowledge of these important matters may not fade away like the fleeting memories of a passing dream.”
- attributed to Thomas Hooker, 1586-1647, but I couldn’t find any original source
"The Chapwood Index’s actual costs on the top 150 items Americans buy in the 50 largest cities rose by between 7.8% and 13.6% last year. In 2022, the range was 11.3% to 18.8%."
No subjective hedonic nonsense, no substitution, no seasonal adjustments…
Sure, everything costs at least 50% more now, but the rate of change is down to just 3.3%!
Now you take that paper dollar
It's only that in name
The way that buck has shrunk
It's a lowdown dirty shame
That's why I got the blues
Got those inflation blues
"Hey Siri, show me one graph proving how the biggest and most pronounced legacy of Barack Obama’s entire presidency was giving corporations get-out-of-jail-free cards in the form of non-prosecution and deferred-prosecution agreements”
Tell me again how tight financial conditions are.
Via Grant’s.
A long, hot financial summer is at hand: investors poured a net $8.7 billion into U.S. tech funds over the seven days through Tuesday per data from EPFR, the largest weekly inflow on record. Growth-oriented mutual funds attracted upwards of $10 billion over the same stretch, likewise its most bountiful week since at least 2017.
Also:
The MarketVector Meme Coin Index, composed of the half-dozen largest digital assets “often named after characters, individuals, animals [or] artworks,” is up 116% for the year-to-date through Thursday, compared to a 44% gain for bitcoin.
The St. Louis Financial Stress Index measures the degree of financial stress in the markets and is constructed from 18 weekly data series: seven interest rate series, six yield spreads and five other indicators. Each of these variables captures some aspect of financial stress…Values below zero suggest below-average financial market stress.”
Doesn’t anyone have a memory?
CPI's been above the Fed’s MADE-UP 2% target for over 3 YEARS.
Kashkari & the FOMC were all calling for ABOVE 2% inflation a few years ago. Neel even mocked those who expressed concern.
Neel and the Fed permanently harmed a couple hundred million Americans.
“The really great investors have a deep capacity for pain.”
Inflation is a Default
“There are actually built-in shock absorbers created by the reforms of 1986, which is the last time we worried about Social Security going bankrupt. The benefits will automatically be cut once we start running out of the revenues, and they're on target to be cut by about 40%. Now think about the cruelty associated with that.”
At the same time, a number of prominent (and very wealthy) people are calling for a "4% inflation target," which would cut 𝘦𝘷𝘦𝘳𝘺𝘰𝘯𝘦'𝘴 purchasing power - young and old, rich and poor - by 40% in about 12 years.
Now think about the cruelty associated with that.
Welcome to new paid subscribers. As an aside, the last five people to unsubscribe from paid listed “Time” as the reason (as is their right.) Maybe they’re just being kind.
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