aceofspadeshq at gee mail.com
CBD:
cbd at cutjibnewsletter.com
Buck:
buck.throckmorton at protonmail.com
joe mannix:
mannix2024 at proton.me
MisHum:
petmorons at gee mail.com
J.J. Sefton:
sefton at cutjibnewsletter.com
The Fed Raises Interest Rates by 0.75%;
The Propaganda Media Pretends It's The Fed That's Choking the Economy, Rather Than Biden's Toxic Profligacy That Forced The Fed to Impose Higher Interest Rates
The Fed raised interest rates by 0.75% again. This is the third time they've raised it by three quarters of a point.
The Dow fell 522 points by the close. The Atlanta Fednow tracker for GDP projection has reduced its forecast for the third quarter to almost zero -- 0.3%. They're trying to avoid the psychological shock of a full one point hike. The media is offering headlines suggesting it's the Fed who is "taking the economy off the side of a cliff." No, it was Joe Biden and the Democrat Congress who did that. They caused this runaway inflation. When you set a fire, the next thing that happens is that the fire department comes to put it out -- and you can't complain when they spray water everywhere and ruin all your furniture by soaking it. But that's how the media is playing it. It's The Fed's fault! Why is The Fed ruining Joe Biden's wonderful economy?!!SMALL BUSINESS PLAYBOOK The Fed just raised interest rates by another 0.75%, putting Main Street economy 'dangerously close' to edge of lending cliffThat's the unfortunate intention. Biden pumped a trillion plus dollars of excess dollar bills into the economy. And then, just a month ago, he pumped in another $740 billion. The only way the Fed knows how to correct for this is to raise interest rates so high so as to make it hard to borrow money. This makes it hard for banks to inject new money into the economy -- borrowed money is basically money taken from the future and put into circulation in the present. By reducing the amount of money that can be "borrowed from the future," the Fed hopes to offset the trillions of extra dollars Biden has already flooded the economy with right now. This is a painful process. It's ugly. It's miserable. Which is why governments usually attempt to not unleash toxic hyperinflation upon their country. But your leftwing propaganda lugenpresse is here to tell you: It's all the Fed's fault. They're the ones doing this!
Small business owners have not faced lending costs reaching into the double-digit percentages in decades. Small Business Administration loans could rise to above 9% by year-end if the Federal Reserve continues to raise rates in its battle against inflation. Rates should never be the sole determinant of business growth strategy and a decision to source new capital, but lending costs are nearing a point where monthly cash flow may not be enough to cover debt repayment in a softer economy. ... If the Federal Reserve's FOMC next moves match the market's expectation for two more interest rate hikes by the end of the year, small business loans will reach at least 9%, maybe higher, and that will bring business owners to a difficult set of decisions. Businesses are healthy today, especially those in the rebounding services sector, and credit performance remains good throughout the small business community, according to lenders, but the Fed's more aggressive turn against inflation will lead more business owners to think twice about taking out new debt for expansion. Partly, it is psychological: with many business owners never having operated in anything but a low interest rate environment, the sticker shock on debt stands out more even if their business cash flow remains healthy enough to cover the monthly repayment. But there will also be more businesses finding it harder to make cash flow match monthly repayment at a time of high inflation across all of their other business costs, including goods, labor, and transportation. "Demand for lending hasn't changed yet, but we're getting dangerously close to where people will start to second guess," said Chris Hurn, the founder and CEO of Fountainhead, which specializes in small business lending. "We're not there yet," he said. "But we're closer."Businesses which are struggling will find that they can only get loans at high interest rates. They will have to choose between borrowing at high interest rates -- which may be unprofitable -- or just shutting down. Businesses which are looking to expand will face the same choice: Borrow at a cost which will make expansion unprofitable, or forgo expansion? Many will chose not to expand in this borrowing climate. People thinking about starting up a business face the same choice, but with an even tougher bite: Starting up a business is always tough. Many businesses do not turn profitable for the first couple of years, and many business owners do not pay themselves a salary during this period. They live on borrowed money. But the cost of borrowed money is high, and going up still further. So the costs of starting up a business is very high. Many people thinking about starting a business will therefore choose not to do so, and those who choose to give it a go will find it even more painful than they expected.
But, again: 1, this is, unfortunately, the entire intention behind raising interest rates. There is too much "fake money" in the system and that fake money must be bled out of the system through catheters in the banking system. 2, this is why you don't elect Democrats, ever. 3, this is why "Luxury Socialism" and BigJuicyBootynomics can never work.
Increasing energy production would take some of the sting out of this but nahhhhh why do that
Posted by: BlackOrchid YUP! If you actually create real value to match the fake dollars, turning them into REAL dollars, then you reduce inflation (and increase real wealth). Inflation is a mismatch between scraps of paper which are supposed to denote value and actual things of value; if you increase things of actual value so that they are closer in number to the scraps of paper denoting value, you have less inflation. But naaaaahhhhh Let's just make more fake dollars! And make *less* energy!
Posted by: ace
Comments
(Jump to bottom of comments)Posted by: BunkerintheBurbs at September 21, 2022 03:54 PM (y8NK7)
Posted by: BunkerintheBurbs at September 21, 2022 03:54 PM (y8NK7)
Posted by: ... at September 21, 2022 03:55 PM (pIwnI)
Posted by: kraken at September 21, 2022 03:56 PM (Vr12I)
Posted by: kallisto at September 21, 2022 03:57 PM (dCxaZ)
Posted by: Glenn John at September 21, 2022 03:57 PM (M3hSG)
it's because I know i'm #triggering you guys
Posted by: ace at September 21, 2022 03:57 PM (B3oWe)
Posted by: Count de Monet at September 21, 2022 03:57 PM (4I/2K)
Posted by: Tonypete at September 21, 2022 03:57 PM (LsEU/)
Posted by: kraken at September 21, 2022 03:58 PM (Vr12I)
------
Leeches are so 18th century.
Posted by: Just Lily at September 21, 2022 03:58 PM (/BF8M)
Posted by: Mr Aspirin Factory at September 21, 2022 03:58 PM (W/9Bb)
Yours truly
Washington DC
Posted by: Glenn John at September 21, 2022 03:57 PM (M3hSG)
*slaps Glenn John upside the head* It's fewer, not less!
Posted by: Your 12th Grade English teacher at September 21, 2022 03:58 PM (4I/2K)
Posted by: BlackOrchid at September 21, 2022 03:59 PM (w0NJk)
Posted by: Archimedes at September 21, 2022 03:59 PM (ayzS/)
Posted by: ... at September 21, 2022 03:59 PM (pIwnI)
Posted by: AOC at September 21, 2022 03:59 PM (w9Wax)
The correction to that will be brutal.
Posted by: The ARC of History! at September 21, 2022 03:59 PM (I2/tG)
Posted by: Economic Assessment at September 21, 2022 03:59 PM (JCZqz)
Posted by: BlackOrchid at September 21, 2022 03:59 PM (w0NJk)
++++
That's a nice way to put it. There is going to be a great upheaval in the business world as companies fall into one of two categories:
1. Debt-dependent and failing
2. Debt-optional and succeeding
Any enterprise that depends on debt to shore up cashflow, that depends on regular debt activities (namely rollovers and expansion) are going to be eaten alive by what's coming. Refinancing all the time to take care of your debt will work so long as interest rates are falling. You can be "in business" with no product or service *at all* if you can keep refinancing. When the rate environment shifts from "falling" to "rising," though, your face gets ripped off.
Posted by: Joe Mannix (Not a cop!) at September 21, 2022 03:59 PM (t0OGg)
Posted by: NJ Class Traitor at September 21, 2022 03:59 PM (c1efv)
Posted by: anchorbabe fashion cop at September 21, 2022 04:00 PM (NKUrN)
Posted by: Huck Follywood at September 21, 2022 04:00 PM (PUXju)
Joey B.'s a fire bug.
Posted by: Braenyard, _ want nuremberg trials? badger your congressman at September 21, 2022 04:00 PM (z/NLz)
Yours truly
Washington DC
Posted by: Glenn John at September 21, 2022 03:57 PM (M3hSG)
*slaps Glenn John upside the head* It's fewer, not less!
Ouch!
Posted by: Glenn John at September 21, 2022 04:00 PM (M3hSG)
Odd that.
Posted by: Puddleglum at work at September 21, 2022 04:00 PM (D8mow)
I predict pain!
Posted by: Clubber de Monet at September 21, 2022 04:00 PM (4I/2K)
Posted by: Mr Aspirin Factory at September 21, 2022 03:58 PM (W/9Bb)
Eh. I can't go getting all spun up over what some random appointed German government official says.
Posted by: ... at September 21, 2022 04:01 PM (pIwnI)
Posted by: Braenyard, _ want nuremberg trials? badger your congressman at September 21, 2022 04:00 PM (z/NLz)
Joey B's a cum-guzzling gutter slut.
Posted by: Washington Nearsider at September 21, 2022 04:01 PM (AZ2ED)
Posted by: BlackOrchid at September 21, 2022 04:01 PM (w0NJk)
Posted by: Bertram Cabot, Jr. at September 21, 2022 04:01 PM (63Dwl)
Posted by: kallisto at September 21, 2022 03:57 PM (dCxaZ)
*Sobs*
Posted by: Michelle Fields at September 21, 2022 04:01 PM (NKUrN)
Posted by: polynikes at September 21, 2022 04:01 PM (1XoKP)
but nahhhhh why do that
Posted by: BlackOrchid
YUP! If you actually create real value to match the fake dollars, turning them into REAL dollars, then you reduce inflation (and increase real wealth).
But naaaaahhhhh
Posted by: ace at September 21, 2022 04:02 PM (B3oWe)
Posted by: NJ Class Traitor at September 21, 2022 03:59 PM (c1efv)
Like skim milk.
Posted by: Count de Monet at September 21, 2022 04:02 PM (4I/2K)
Posted by: BlackOrchid at September 21, 2022 04:01 PM (w0NJk)
Holy shit, without the beard, it's him!
Posted by: ... at September 21, 2022 04:02 PM (pIwnI)
The correction to that will be brutal.
Posted by: The ARC of History! at September 21, 2022 03:59 PM
It isn't free? I ain't paying this shit back. Biden can forgive it, but I ain't paying shit. Sally Mae not see a dime of this loan, but I'll give her some D.
Posted by: Commie College Kid with $120k student loan debt at September 21, 2022 04:02 PM (JCZqz)
*
You're looking at it wrong.
There was a coup. They looted the treasury. It's no different than the hundreds of other times this exact same thing happened.
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 04:02 PM (Wndnv)
Someone like me shows up with like a week of fire training every couple of years and you're basement will be flooded.
Posted by: sniffybigtoe at September 21, 2022 04:02 PM (Y5qcH)
++++
Not just tech, though they're the prime example. This comes in two forms: cheap debt (direct) and stock (indirect). A lot of firms can - and do - issue more shares, but those shares have to get bought by someone and there is a ton of debt (both in direct margin debt and indirectly) on the equity side, too.
With rates rising, both get more expensive and therefore the operations become less valuable.
Posted by: Joe Mannix (Not a cop!) at September 21, 2022 04:02 PM (t0OGg)
Posted by: Michelle Fields at September 21, 2022 04:03 PM (63Dwl)
Posted by: polynikes at September 21, 2022 04:03 PM (1XoKP)
They can just raise more taxes to service the debt.
Posted by: wth at September 21, 2022 04:03 PM (v0R5T)
*
You mean the ONE manufacturing advantage the United States possessed?
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 04:03 PM (Wndnv)
Posted by: Joe Mannix (Not a cop!) at September 21, 2022 03:59 PM (t0OGg)
Exactly.
We will be surprised at some of the failures, I am sure.
Posted by: Deplorable Ian Galt at September 21, 2022 04:03 PM (NKUrN)
There actually is a minor upside, which is that when rates spike like this, the RE market dries up, so that you have your choice of houses. Yes, you'll pay out the wazoo because of the rates, but they can eventually come down. In a RE panic like the one we've recently experienced, you're lucky to get any house.
Posted by: Archimedes at September 21, 2022 04:03 PM (ayzS/)
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:04 PM (LvTSG)
They can just raise more taxes to service the debt.
Posted by: wth at September 21, 2022 04:03 PM (v0R5T)
Something's gotta give.
Posted by: Count de Monet at September 21, 2022 04:04 PM (4I/2K)
Posted by: Regulators Who Choked Off US Energy Production at September 21, 2022 04:04 PM (RZert)
Posted by: kraken at September 21, 2022 04:04 PM (Vr12I)
Posted by: Mr Aspirin Factory at September 21, 2022 03:58 PM (W/9Bb)
........
Germany announce plan to invade Russia in December.
Posted by: wth at September 21, 2022 04:04 PM (v0R5T)
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 04:04 PM (Wndnv)
EXCLUSIVE: The national teachers union’s "LGBTQ+ Caucus" has created a website and badge for public school employees that promotes a how-to guide for "anal sex," "bondage," "rimming," "domination," "sadomasochism," "muffing," and "fisting."
Lovely
Posted by: Sharkman at September 21, 2022 04:04 PM (Gda1b)
For years, the MMT types were shrieking that the government should be borrowing far more money to do good things with, since the cost of borrowing was near-zero.
If you want to see brutality, wait until the current $305 billion in interest payments on Federal debt goes to a trillion or so. (The "discretionary" part of the Federal budget is $1.688 trillion - total expenditures including Social Security, Medicare, and Medicaid is $6.011 trillion.)
Posted by: The ARC of History! at September 21, 2022 04:05 PM (I2/tG)
Posted by: Marcus T at September 21, 2022 04:05 PM (BxH25)
EXCLUSIVE: The national teachers union’s "LGBTQ+ Caucus" has created a website and badge for public school employees that promotes a how-to guide for "anal sex," "bondage," "rimming," "domination," "sadomasochism," "muffing," and "fisting."
Lovely
Posted by: Sharkman at September 21, 2022 04:04 PM (Gda1b)
=========
Pointing this out is literal violence.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:05 PM (LvTSG)
Really? Explain.
Because, from what I can see, they aren't the ones borrowing to finance their operations.
There is a group-- the banksters--that are, and they sure as hell ain't on Main Street.
But, don't you just love that--multibillion dollar corps are going to suffer but they dress it up in Mom and Pop's Hardware clothes.
Posted by: People's Hippo Voice at September 21, 2022 04:05 PM (Zf0+a)
EXCLUSIVE: The national teachers union’s "LGBTQ+ Caucus" has created a website and badge for public school employees that promotes a how-to guide for "anal sex," "bondage," "rimming," "domination," "sadomasochism," "muffing," and "fisting."
Lovely
we just want to get married
Posted by: ace at September 21, 2022 04:05 PM (B3oWe)
well there's more public money well spent
can't understand how we're hyperinflationary when our public sector is so efficient
Posted by: BlackOrchid at September 21, 2022 04:05 PM (w0NJk)
Posted by: ace at September 21, 2022 04:05 PM (B3oWe)
=========
In Satanic ceremonies, it seems.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:05 PM (LvTSG)
Posted by: Mr Aspirin Factory at September 21, 2022 03:58 PM (W/9Bb)
Eh. I can't go getting all spun up over what some random appointed German government official says.
Why, what have you heard?
Posted by: Poland at September 21, 2022 04:06 PM (ayzS/)
EXCLUSIVE: The national teachers union’s "LGBTQ+ Caucus" has created a website and badge for public school employees that promotes a how-to guide for "anal sex," "bondage," "rimming," "domination," "sadomasochism," "muffing," and "fisting."
Lovely
Posted by: Sharkman at September 21, 2022 04:04 PM (Gda1b)
Soon.
Posted by: Face colander at September 21, 2022 04:06 PM (yHsuS)
Lovely
we just want to get married
Posted by: ace at September 21, 2022 04:05 PM (B3oWe)
Love is Love !!!!
Posted by: kraken at September 21, 2022 04:06 PM (Vr12I)
Traditionally, the interest rate is the only mechanism the Fed has to tackle money supply problems. That is no longer true today. They printed gobs of money during the QE rounds and bought a shit ton of assets, mostly bonds (and mostly mortgage-backed securities) and treasuries. They can remove excess money from the market by selling off their balance sheet. This has started, but they are not moving aggressively. One problem with doing this at all is that by selling off their vast reserves of financial instruments, they will reduce the price of those instruments. That causes two nasty side effects:
1. Their balance sheet gets less valuable, marked to market. They cannot extract as much money as they added. The balance sheet is underwater and it will get worse as markets decline - and get worse faster if they sell faster because that itself will move the market
2. It will move the market and cause declining asset prices in the classes they're selling. This means *everyone* takes it in the ass.
Posted by: Joe Mannix (Not a cop!) at September 21, 2022 04:06 PM (t0OGg)
I can say (so far) looks like Karl Denninger was write. Me, I was leaning that the Fed couldn't do a Volcker (they haven't gone full Volcker yet, but they are holding the course in that direction) 'cause that would just blow up the federal govt ($30T in debt, high fraction in short term bills and notes, which must rolled over rapidly).
Denninger's position was no, the Fed is not going to let the dollar die and unleash hyperinflation, cause that would take them down as well. The Fed is made up of the bankster class, and the bankster class doesn't want to be taken down in the collapse of the dollar scenario.
Posted by: publius, Rascally Rapscallion (Mzdiz) at September 21, 2022 04:06 PM (Mzdiz)
Posted by: IllTemperedCur at September 21, 2022 04:07 PM (n+4am)
Posted by: Ben Had at September 21, 2022 04:07 PM (OqjtX)
Posted by: The ARC of History! at September 21, 2022 04:07 PM (I2/tG)
Posted by: G'rump928(c) at September 21, 2022 04:07 PM (yQpMk)
Posted by: Comrade flounder, Wrecker, Hoarder, Saboteur at September 21, 2022 04:07 PM (yHsuS)
Posted by: Marcus T at September 21, 2022 04:07 PM (BxH25)
2, this is why you don't elect Democrats, ever."
This rule should be taught to all K-12 this year. Mine have grasped this fully from now on. The discussion is you don't have to always vote the R, but you sure as hell can never vote the D...unless you want this again!
Posted by: Nova local at September 21, 2022 04:07 PM (exHjb)
EXCLUSIVE: The national teachers union’s "LGBTQ+ Caucus" has created a website and badge for public school employees that promotes a how-to guide for "anal sex," "bondage," "rimming," "domination," "sadomasochism," "muffing," and "fisting."
Lovely
Posted by: Sharkman at September 21, 2022 04:04 PM (Gda1b)
When the Teachers Lounge is a-rockin'
Don't bother knockin'
SRV version: https://youtu.be/-G84P5K-W1c
Posted by: Count de Monet at September 21, 2022 04:08 PM (4I/2K)
Posted by: Nova local at September 21, 2022 04:07 PM (exHjb)
==========
*pokes bear*
Vote D in TX-2 to get rid of Dan Crenshaw!
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:08 PM (LvTSG)
But of course the ripple affects *WILL* affect me significantly by driving up the costs of goods and services. My medications already increased quite a bit, as has food. I don't make a lot of money, but I live comfortably. Now I feel like I'm living paycheck to paycheck, even though I haven't really increased my lifestyle in any meaningful way.
Posted by: "Perfessor" Squirrel at September 21, 2022 04:08 PM (YIVH2)
Our company created additional cost centers throughout 2021 by ramping up DIE hiring, while squeezing the profit centers for more productivity.
When cutting time comes, the man holding the axe isn't going to swing for the team that makes money. Enjoy the grift while it lasts, diversity hires!
Posted by: NJ Class Traitor at September 21, 2022 04:08 PM (c1efv)
Posted by: PaleRider is simply irredeemable at September 21, 2022 04:08 PM (3cGpq)
Posted by: nerdygirl at September 21, 2022 04:09 PM (+lVUW)
Posted by: Economic Moron at September 21, 2022 04:09 PM (JCZqz)
Posted by: NJ Class Traitor at September 21, 2022 04:08 PM (c1efv)
=========
I guarantee you that there will be organizations that cut themselves down to just HR and DEI sectors.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:09 PM (LvTSG)
Posted by: Mr Aspirin Factory at September 21, 2022 04:09 PM (W/9Bb)
Yes. If the Fed's balance sheet goes underwater, which means the liabilities (which are the money in the system) are the less than the assets, which supposedly "back" the dollar. Of course, the dollar has been back with dog shit for a long time, starting with the Crash of '08.
This is very bad, at least psychologically. They were anticipating this possibility as far back as 2010 or so, when they added a "this one neat hack" to the balance sheet accounting to keep that from happenning. It's just an accounting gimmick, and probably illegal per the Federal Reserve Act.
Posted by: publius, Rascally Rapscallion (Mzdiz) at September 21, 2022 04:10 PM (Mzdiz)
Posted by: NJ Class Traitor at September 21, 2022 04:08 PM (c1efv)
It's Topical!
Posted by: Warai-otoko at September 21, 2022 04:10 PM (6FeV1)
Posted by: Nova local at September 21, 2022 04:07 PM (exHjb)
==========
*pokes bear*
Vote D in TX-2 to get rid of Dan Crenshaw!
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:08 PM (LvTSG)
You have a death wish. Vote the bastard in and FIND A NEW CANDIDATE FOR THE PRIMARY next time...or at least, vote the Libertarian this time...don't give a D a vote...ever!
Posted by: Nova local at September 21, 2022 04:10 PM (exHjb)
Another Witch Hunt by a racist Attorney General, Letitia James, who failed in her run for Governor, getting almost zero support from the public, and now is doing poorly against Law & Order A.G. candidate, highly respected Michael Henry. I never thought this case would be brought - until I saw her really bad poll numbers. She is a fraud who campaigned on a “get Trump” platform, despite the fact that the city is one of the crime and murder disasters of the world under her watch!
Posted by: SMOD at September 21, 2022 04:10 PM (RHGPo)
Posted by: Marcus T at September 21, 2022 04:10 PM (BxH25)
wait, there is no good news.
Posted by: Ultra pj at September 21, 2022 04:10 PM (G1dq6)
Posted by: Mister Scott (Formerly GWS) at September 21, 2022 04:11 PM (bVYXr)
Posted by: wth at September 21, 2022 04:11 PM (v0R5T)
I call it the Three Stages of Clusterfuckery
Posted by: The Unvaxed and Unmasked Ranger - Emotionally Supporting Cancelled Sexy Russian Women at September 21, 2022 04:11 PM (VTu1l)
Posted by: Warai-otoko at September 21, 2022 04:11 PM (6FeV1)
Posted by: Marcus T at September 21, 2022 04:11 PM (BxH25)
wait, there is no good news.
Posted by: Ultra pj at September 21, 2022 04:10 PM (G1dq6)
The Fed is not seizing it. Yet.
Posted by: Comrade flounder, Wrecker, Hoarder, Saboteur at September 21, 2022 04:11 PM (yHsuS)
Posted by: Ferd Berfall at September 21, 2022 04:12 PM (0vFtj)
The MOEX Russia Index—the ruble-denominated benchmark of the Russian stock market—sank as much as 10 percent on Wednesday, cutting losses at 2,150, according to data from Trading Economics.
According to the website, which provides economic data for 196 countries, the fall in the Russian stock market is a direct consequence of Putin's call for more troops to fight in Ukraine, Russia's first mobilization since World War II.
Posted by: Adirondack Patriot at September 21, 2022 04:12 PM (lf83v)
Posted by: Nova local at September 21, 2022 04:10 PM (exHjb)
=========
The House isn't going to hinge on one seat. Sacrifices can be made. Crenshaw is a major problem within the party, and I'd take any effort to knock him out.
SC-1 went Mark Sanford to Joe Cunningham (D) to Nancy Mace. Cunningham was around for a single Congress, not even long enough to get a Congressional pension.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:12 PM (LvTSG)
Posted by: Czech Chick at September 21, 2022 04:12 PM (haWye)
Posted by: Fish at September 21, 2022 04:12 PM (39SCl)
Posted by: Archimedes at September 21, 2022 04:03 PM (ayzS/)
++++
Some will, then others pay about the same, because prices will come down. People buy payments, not houses. Interest rate and purchase price dictate the payment. If interest goes up, price will eventually come down because it has to.
Inventories will fall because those who want to sell but do not *need* to sell will hold their property off-market to improve their odds of being able to sell when the time comes. Time on market also increases but prices remain stable. Then someone *has* to sell and will cut the price because they need the property to move. This will happen many times and then those owners on the sidelines will flood in to sell before the prices collapse.
Posted by: Joe Mannix (Not a cop!) at September 21, 2022 04:12 PM (t0OGg)
They should have been doing this years ago, but every President screams about any interest rate hikes, including Trump.
I feel like about a third of my net worth has been wiped out all for some meaningless checks in the mail that maybe bought an iPhone.
Posted by: Blago at September 21, 2022 04:12 PM (PwNLq)
Posted by: SMOD at September 21, 2022 04:12 PM (RHGPo)
Posted by: antisocial justice beatnik at September 21, 2022 04:12 PM (DTX3h)
I want that to be wrong because that is insane.
But, I fear it's true.
Also, lol at SBA loans. Show me a business relying on SBA loans and I'll show you a business guaranteed to fail. SBA is the lender of last resort, when all other for-profit finances ran screaming from your financials and business plan.
Posted by: People's Hippo Voice at September 21, 2022 04:12 PM (Zf0+a)
wait, there is no good news.
Posted by: Ultra pj at September 21, 2022 04:10 PM (G1dq6)
========
The good news is that I'm set to buy the dip for as long as it lasts.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:12 PM (LvTSG)
The Fed just raised interest rates by another 0.75%, putting Main Street economy 'dangerously close' to edge of lending cliff
___________
*lights cigar with $100 bill*
Won't bother us a bit.
Posted by: Hedgies at September 21, 2022 04:13 PM (1Nxff)
Posted by: Marcus T
Just so, comrade.
Posted by: Justice Roberts at September 21, 2022 04:13 PM (ftFVW)
Posted by: Cancer at September 21, 2022 04:13 PM (OzNIz)
wait, there is no good news.
Posted by: Ultra pj at September 21, 2022 04:10 PM (G1dq6)
The Fed is not seizing it. Yet.
Posted by: Comrade flounder, Wrecker, Hoarder, Saboteur at September 21, 2022 04:11 PM (yHsuS)
It'd better get off its ass and seize those while there's still some value to seize.
Posted by: bear with asymmetrical balls at September 21, 2022 04:13 PM (ppBhU)
https://youtu.be/ztmoPIG_2wI
Here's Rock and Roll Hootchie Coo, as well. Just for the hell of it:
https://youtu.be/KdSQA3SgWqk
Posted by: Sharkman at September 21, 2022 04:14 PM (Gda1b)
think of the elaborate hair extensions, Blago! think about the extension that YOU made possible!
Posted by: BlackOrchid at September 21, 2022 04:14 PM (w0NJk)
We'll get a bailout, just like last time.
Posted by: Banks and Brokerages at September 21, 2022 04:14 PM (1Nxff)
Posted by: Economic Moron at September 21, 2022 04:09 PM (JCZqz)
People were day-trading and didn't know if the fed rate increase being under 1%, but then the fed promising a higher ending rate, was "good" news or "bad" news for trading...
Posted by: Nova local at September 21, 2022 04:14 PM (exHjb)
Posted by: Economic Moron at September 21, 2022 04:09 PM (JCZqz)
Russia reintroducing conscription, and a clear threat to use nukes.
Yeah, more pain is coming.
Posted by: Diogenes at September 21, 2022 04:14 PM (anj39)
yeah, saw this headline and was like "no it bounced back, it was just up a couple hundred"
Dip buyers maybe ... some dips don't recover for a decade or more, but as rates went from 15% to 0% over 30 years, we've only known easy money and bull market (mostly, except a couple brief cracks). They tried to solve "zero bound" with QE infinite MMT confetti money.
Posted by: illiniwek at September 21, 2022 04:14 PM (Cus5s)
Posted by: Deplorable Ian Galt at September 21, 2022 04:14 PM (NKUrN)
Can't be the Mets clinching a playoff berth cause that already happened.
Posted by: JackStraw at September 21, 2022 04:15 PM (ZLI7S)
Posted by: Ferd Berfall at September 21, 2022 04:15 PM (0vFtj)
And even if things go full colander-facemask, then it's all a moot point and i'm not really gonna give a shit either way.
So it's a win-win for me. But i'm pissed of on everyone else's behalf, all the same.
Posted by: Warai-otoko at September 21, 2022 04:15 PM (6FeV1)
But this is not the only inflation because many things are valued above their actual worth, like properties, capital equipment to make green energy equipment and uncompleted Ford trucks. Add that into possible inflation if the various companies holding those things suddenly has to liquidate or raise additional cash by selling them
Then, of course, there is foreign held debt that is in many cases held as foreign exchange reserves to support various currencies. Argentina holds about 30,000, and they have been selling it off because of their own recession and financial crises, they held about 40K a year ago. If this is a world wide issue, all the USD comes back to us, and increases our inflation again because of all those dollars are more than the equivalent value in the system. Add that to the possible problems.
And of course there may be a new global currency that will leave the US and the Euro in the dirt. El Salvador and Zimbabwe are going bitcoin, and there are a couple of networks built to handle retail purchases and clearing on crypto. So there is that as well.
Posted by: Kindltot at September 21, 2022 04:15 PM (xhaym)
Posted by: Zek at September 21, 2022 04:15 PM (OzNIz)
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:12 PM (LvTSG)
You can't time the bottom but, we aren't anywhere near it yet.
Posted by: G'rump928(c) at September 21, 2022 04:15 PM (yQpMk)
Posted by: Deplorable Ian Galt at September 21, 2022 04:14 PM (NKUrN)
==========
What is it when they simply stop printing money and force everyone onto digital currency?
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:15 PM (LvTSG)
Posted by: Hairyback Guy at September 21, 2022 04:15 PM (YScEb)
Tbe Fed knows this and can increase the reserve ratio.to reduce lending and money creation..
Posted by: JM in Florida at September 21, 2022 04:15 PM (tESdR)
They should have been doing this years ago, but every President screams about any interest rate hikes, including Trump. ...
Posted by: Blago at September 21, 2022 04:12 PM (PwNLq)
++++
The Fed is political and they want to help out Big State. The interest rate increases - which have come in probably 2010 or 2012, if not continuing right through the GFC and continued the trend starting in the mid aughts - began at the tail end of Obama's term. The low interest rate environment *had* to be reversed. It should have started a lot earlier than it did, but the Fed also has a ton of conflicting interests from politics to Wall Street to foreign governments. They always act late.
Posted by: Joe Mannix (Not a cop!) at September 21, 2022 04:15 PM (t0OGg)
Posted by: wth at September 21, 2022 04:15 PM (v0R5T)
wait, there is no good news.
Posted by: Ultra pj at September 21, 2022 04:10 PM
You evil capitalists pretend you love freedom so much, so we're helping you out. Once you have nothing, "freedom's just another word for, nothing left to lose"
Posted by: 60s hippie commie child at September 21, 2022 04:16 PM (JCZqz)
Posted by: Ferd Berfall at September 21, 2022 04:16 PM (0vFtj)
I've told them to wait because we're in that in-between period now when sellers haven't yet accepted that they won't get what people got a year ago, while rates are high compared to what they were then. At some point, reality will intrude, and prices will start to fall. We aren't there yet.
Posted by: Archimedes at September 21, 2022 04:16 PM (ayzS/)
Posted by: Mr Aspirin Factory at September 21, 2022 03:58 PM
Well...I'm going to see Little Shop of Horrors on stage. Beyond that, I dunno...dinner?
Posted by: RedMindBlueState at September 21, 2022 04:16 PM (4p7Em)
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:15 PM (LvTSG)
AmSoc
Posted by: Georgie Orwell at September 21, 2022 04:16 PM (NKUrN)
Posted by: Archimedes at September 21, 2022 04:17 PM (ayzS/)
Now we are debt free and can put some shekels into fixing a few things. Not big ticket items but stuff to delay the final collapse of this old house until the economy has improved.
Posted by: Madamemayhem (uppity wench) at September 21, 2022 04:17 PM (Wy1BU)
Full speed ahead!
Posted by: Student Loan Debt Forgiveness at September 21, 2022 04:17 PM (1Nxff)
Posted by: Curly Shuffle at September 21, 2022 04:17 PM (TNyrE)
........
A fat ass will last longer during the food shortages.
Posted by: wth at September 21, 2022 04:11 PM (v0R5T)
Life begins at hips 40+". Grab the gusto with double handfuls!
Posted by: Count de Monet at September 21, 2022 04:17 PM (4I/2K)
Posted by: gnats local 678 at September 21, 2022 04:17 PM (Ynyl9)
sweet baby jesus even I hope we do NOTHING
Posted by: BlackOrchid at September 21, 2022 04:17 PM (w0NJk)
Posted by: Sharkman at September 21, 2022 04:18 PM (Gda1b)
--------------------
Housing prices like labor pricing are 'sticky'. The first thing that will happen is that companies building new houses will stop doing that and they are. The next will be that the upgrading market will come to an end--where you sell your starter home and move up the value chain or sell to relocate for retirement. Then the last will be existing house prices dropping because owners are loathe to 'lose' expected gains and will do so only under compelling circumstances like foreclosure. That is months away probably as unemployment is a lagging feature of recessions and not a predictive one.
Posted by: whig at September 21, 2022 04:18 PM (CXr4y)
Posted by: NJ Class Traitor at September 21, 2022 03:59 PM (c1efv)
________
Exactly what I've noticed. Note how many of the hotties on our side age well.
Posted by: Eeyore at September 21, 2022 04:18 PM (TgBWG)
You know what would really turn things around? More illegal alien invasion, elevated import of fentanyl, looser violent crime laws with concomitant release of felons, cutting petroleum production and distribution, and war with China over Taiwan.
Do those things and the US has a real chance for a rebound.
Posted by: AnonyBotymousDrivel Remembers Babbitt and Perna at September 21, 2022 04:18 PM (aXxgO)
Posted by: illiniwek at September 21, 2022 04:14 PM (Cus5s)
"I'm ok. Just got the wind knocked out of me."
Posted by: Sergeant Horvath at September 21, 2022 04:18 PM (MkuC5)
I guarantee you that there will be organizations that cut themselves down to just HR and DEI sectors.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang
I can't wait for Ford to start marketing the new Equitymobile when they take the DEI payroll activists and move them to the production line.
Posted by: IllTemperedCur at September 21, 2022 04:18 PM (n+4am)
Don't like my policies?
No money for you.
You think you have money in the bank?
Ha.
Posted by: gourmand du jour, w new lease on life at September 21, 2022 04:18 PM (jTmQV)
Posted by: Deplorable Ian Galt at September 21, 2022 04:14 PM (NKUrN)
==========
What is it when they simply stop printing money and force everyone onto digital currency?
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:15 PM
It's an outrage, and a direct attack on our livelihood! To the streets!
Posted by: Wheelbarrow Manufacturers Union Local 420 at September 21, 2022 04:18 PM (JCZqz)
Posted by: Kindltot at September 21, 2022 04:15 PM (xhaym)
++++
Capital equipment is tightly tied to cost of money since a lot of equipment is too expensive to finance out of cash reserves and you have to borrow for it. We've had massive - even catastrophic - inflation in assets since the financial crisis, and cheap money is why. The more liquid it is (bonds, etc.), the more the inflation has been because it's easier to move. Declines in the capital markets are going to happen, and they're going to be severe. The Fed's goal, I suspect, is to try to manage it as a slow burn rather than a crash.
Posted by: Joe Mannix (Not a cop!) at September 21, 2022 04:18 PM (t0OGg)
Posted by: Joe Mannix (Not a cop!)
___
Isnt it funny though they didn't act "late" as soon as Trump was sworn in? Something like 8 times interest rates were raised in his 4 years as President.
But they are definitely "late" when obama and Biden were president.
Posted by: Blago at September 21, 2022 04:18 PM (PwNLq)
Posted by: Some German Politician at September 21, 2022 04:18 PM (Xrfse)
Posted by: Pudinhead at September 21, 2022 04:18 PM (g/54t)
Can't be the Mets clinching a playoff berth cause that already happened.
Posted by: JackStraw at September 21, 2022 04:15 PM (ZLI7S)
I happy for you and the 50 other fans.
Posted by: Mr Aspirin Factory at September 21, 2022 04:18 PM (W/9Bb)
Posted by: Hatari somewhere on Ventura Highway at September 21, 2022 04:18 PM (M+Lyo)
=======
Blame FL Democrats for funding it when they voted for it.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:19 PM (LvTSG)
The FED rates ARE totally idiotic because they're utterly insufficient to actually do anything to tame inflation, so they ARE causing problems to absolutely no gain.
In the late 70's to tame the inflation they had to hike it nearly to TWENTY PERCENT.
3.25% ain't gonna make even a dent.
Posted by: DudeAbiding at September 21, 2022 04:19 PM (AjL/0)
Posted by: ... at September 21, 2022 03:55 PM (pIwnI)
Well, they gotta finish draining the SPR first. 750 million bbl capacity; currently sitting at 350. And still pumping it out.
The Fed expanded their mission statement from a 2% inflation target max to 2% AND full employment. By keeping rates low, and enabling the gubmint paying the couch/Stelter potatoes to quit applying for jobs thru cheap borrowing, they managed it for a while.
Now both goals are swirling in the toilet bowl. And the Dems scream Spend Spend Spend, as they always do and with a Big Assist from RINOS, as they also always do.
Posted by: GnuBreed at September 21, 2022 04:19 PM (JOtiF)
Posted by: Economic Moron at September 21, 2022 04:09 PM (JCZqz)
Russia reintroducing conscription, and a clear threat to use nukes.
Yeah, more pain is coming.
Posted by: Diogenes at September 21, 2022 04:14 PM (anj39)
Yeah, the Democrats ( and RINOS) are going to go with "WAR... to improve the economy."
God Help Us all
Posted by: Pete Townshend at September 21, 2022 04:19 PM (mR6Gs)
Posted by: Nova local at September 21, 2022 04:10 PM (exHjb)
=========
The House isn't going to hinge on one seat. Sacrifices can be made. Crenshaw is a major problem within the party, and I'd take any effort to knock him out.
SC-1 went Mark Sanford to Joe Cunningham (D) to Nancy Mace. Cunningham was around for a single Congress, not even long enough to get a Congressional pension.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:12 PM (LvTSG)
And that's what every community R will say who doesn't personally like their guy...and at the end of the election day, we'll still have Pelosi in charge. You take one for the team b/c in the House, you HAVE to have the gavel to get anything done. That's worth anything.
Posted by: Nova local at September 21, 2022 04:20 PM (exHjb)
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:15 PM
-------------
Its called war. Kind of hard to have digital currency with no electricity.
Posted by: Pudinhead at September 21, 2022 04:20 PM (g/54t)
__________
You know, we have a whole drawer full of sternly worded letters.
Right above the drawer with the "Stop, or we will ask you to stop again!" letters.
Posted by: The State Department at September 21, 2022 04:20 PM (lf83v)
Posted by: JoeF. at September 21, 2022 04:20 PM (mR6Gs)
I was reading on Denninger's forum that mass lay-offs in the coporate sectors are coming in Oct through Nov. Lots of people on the chopping block.
Totally not a recession, though.
Posted by: publius, Rascally Rapscallion (Mzdiz) at September 21, 2022 04:20 PM (Mzdiz)
Interest rates are still half of what they should be in a functioning economy.
I get the usefulness of blaming Biden for his part in the mess, but most of the inflation problem is a result of deliberately inflating the stock market for the last couple of decades.
Posted by: Methos at September 21, 2022 04:20 PM (kOpft)
Posted by: Deplorable Ian Galt at September 21, 2022 04:20 PM (ufFY8)
12 months ago, houses were selling in 2 week or less often at 10% above asking.
Lotta folks overpaid for houses they are soon not going to be able to afford ....
Posted by: People's Hippo Voice at September 21, 2022 04:21 PM (Zf0+a)
Posted by: CZ=FNG, Free Republic of Florida at September 21, 2022 04:21 PM (MkuC5)
Posted by: IllTemperedCur at September 21, 2022 04:18 PM
An Equitymobile...a car for all of the folx? We like this idea.
Posted by: Democrats at September 21, 2022 04:21 PM (4p7Em)
Posted by: gnats local 678 at September 21, 2022 04:21 PM (Ynyl9)
Posted by: bear with asymmetrical balls at September 21, 2022 04:22 PM (ppBhU)
Posted by: CZ=FNG, Free Republic of Florida at September 21, 2022 04:22 PM (MkuC5)
Posted by: Nova local at September 21, 2022 04:20 PM (exHjb)
=========
My vote isn't automatic.
The Republican has to earn it. If I lived in TX-2, I'd say that Crenshaw hadn't earned it.
I'm probably going to be voting against Mace cause she's kind of an idiot.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:22 PM (LvTSG)
https://tinyurl.com/yrv5kjvj
Posted by: FenelonSpoke at September 21, 2022 04:22 PM (vH/6k)
Posted by: REDACTED at September 21, 2022 04:22 PM (us2H3)
There is a rumor that Russia is going to close the borders and not let people leave - perhaps limited to males of military age (like Ukraine has done), perhaps more generally.
For years, Russian military, police, judges, prosecutors, and several other classes of government employees have been forbidden from traveling to the West, so there is precedent.
Posted by: The ARC of History! at September 21, 2022 04:22 PM (I2/tG)
3.25% ain't gonna make even a dent.
Posted by: DudeAbiding at September 21, 2022 04:19 PM (AjL/0)
Same effect as pissing into a bracing breeze.
Posted by: Count de Monet at September 21, 2022 04:22 PM (4I/2K)
Yes, the "dual mandate" of the Fed, keep inflation low *and* ensure full employment is contradictory. They can't do both.
Posted by: publius, Rascally Rapscallion (Mzdiz) at September 21, 2022 04:22 PM (Mzdiz)
It is the bus seats that cost $1230
And it changed the entire dynamic of the midterm elections and moved illegal immigration and leftist hypocrisy further into the spotlight.
Outstanding investment at twice the price.
Posted by: JackStraw at September 21, 2022 04:22 PM (ZLI7S)
The entire premise of an unelected bankers basically throwing the economy into boom and bust cycles is an absurd premise. When we were on a gold standard a $1 was worth the same 100 years apart. We also didn't have the ability to run trillions into debt.
Posted by: Blago at September 21, 2022 04:22 PM (PwNLq)
Posted by: Economic Moron at September 21, 2022 04:09 PM (JCZqz)
--------------
Nice succinct and accurate summary. I would add the Zombies, Cannibals and Vampires to round it out.
Posted by: Pudinhead at September 21, 2022 04:23 PM (g/54t)
I'm one of the few here who lives in Crenshaw's district. I'm never casting another vote for that guy.
------
But... voting GOP is super important and stuff. For reasons 'n' things. I'm beginning to doubt your commitment to Sparkle Motion.
Posted by: Yudhishthira's Dice at September 21, 2022 04:23 PM (oINRc)
wait, there is no good news.
Posted by: Ultra pj at September 21, 2022 04:10 PM (G1dq6)
It is going to get worse. Much Worse.
Posted by: rd at September 21, 2022 04:23 PM (Z32m1)
Posted by: Mister Scott (Formerly GWS) at September 21, 2022 04:23 PM (bVYXr)
---------------
Do you also apologize for your spelling, grammar, and life partner mistakes?
Posted by: Curly Shuffle at September 21, 2022 04:23 PM (TNyrE)
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:15 PM
-------------
Its called war. Kind of hard to have digital currency with no electricity.
nah. we'll just have to use those multi-part forms and the old credit card zoopers to zoop or digital dollar cards until the electricity comes back online.
(was at an ihop a while back when their credit card processor was offline. they a) didn't know how to use the zooper and b) only had one of the multi-part forms left, which they used on me so the poor fellow behind me couldn't pay)
Posted by: kulak anachronda at September 21, 2022 04:23 PM (v3pYe)
Yeah, more pain is coming.
Posted by: Diogenes at September 21, 2022 04:14 PM (anj39)
Um, no. Russia has a draft, and uses it each year to grab 135k conscripts. One year of service though. They've just upped the # they plan to draft. Here. read a bit about it yourself:
https://en.wikipedia.org/wiki/
Conscription_in_Russia
Posted by: GnuBreed at September 21, 2022 04:24 PM (JOtiF)
wait, there is no good news.
Posted by: Ultra pj at September 21, 2022 04:10 PM (G1dq
My savings account interest rates going up. Almost 1% now. Woo Hoo !!! I'm rich.
I remember when complaining that the savings account interest rate had fallen to 4% in 2007 IIRC .
Posted by: polynikes at September 21, 2022 04:24 PM (1XoKP)
Posted by: Washington Nearsider at September 21, 2022 04:24 PM (AZ2ED)
Watch it burn.
Posted by: Deplorable Ian Galt at September 21, 2022 04:20 PM (ufFY
Democrats pull their usual tough guy act and plunge us into war while watching their "approval" skyrocket just in time for the next fake election.
Posted by: ... at September 21, 2022 04:24 PM (Xm6hb)
Give more money to Raytheon. Miley has his future board seat to consider, after all.
Posted by: The ARC of History! at September 21, 2022 04:24 PM (I2/tG)
--------------
Please note, you pennies are copper claded zinc tokens.
Posted by: Pudinhead at September 21, 2022 04:24 PM (g/54t)
Posted by: G'rump928(c) at September 21, 2022 04:24 PM (yQpMk)
12 months ago, houses were selling in 2 week or less often at 10% above asking.
They want only 50% more than it cost 5 years ago, rather than 60%. Reality hasn't really hit yet.
Posted by: Archimedes at September 21, 2022 04:24 PM (ayzS/)
This bumbling idiot is also screwing Europe so bad that their ass's may never heal.
Posted by: Ferd Berfall
Fuck Europe. Fucking ingrates. They should thank their lucky stars that the US stuck around after WWII, otherwise they'd all be speaking Russian while waiting 6 hours in line to buy a loaf of sawdust bread for the week.
Posted by: IllTemperedCur at September 21, 2022 04:24 PM (n+4am)
wait, there is no good news.
Posted by: Ultra pj at September 21, 2022 04:10 PM (G1dq6)
It is going to get worse. Much Worse.
go long on gold rubles
Posted by: kulak anachronda at September 21, 2022 04:24 PM (v3pYe)
Posted by: bear with asymmetrical balls at September 21, 2022 04:22 PM (ppBhU)
Gone are they days when the letter after one's name was a guaranteed vote. The Republican party is every bit as complicit in our decline as the Democrats. If the R in question is a quisling deep state shithead, then third party or stay the hell home. Kayfabe is no way to run a country.
Posted by: Warai-otoko at September 21, 2022 04:24 PM (6FeV1)
Some history on the '70s inflation. Tricky Dick blamed the Fed in part for his 1960 loss. He thought they tightened in the lead, and that cost him the election.
So, when he finally got to be President, he put a political lackey, Arthur Burns, in as Fed Chair. There are storied of Nixon physically threatening Burns to keep money loose.
Posted by: publius, Rascally Rapscallion (Mzdiz) at September 21, 2022 04:24 PM (Mzdiz)
I was reading on Denninger's forum that mass lay-offs in the coporate sectors are coming in Oct through Nov. Lots of people on the chopping block.
__________
Corporate always likes laying people off in November. It's called "hunting season" for a reason. Just before Christmas is better.
Posted by: Hadrian the Seventh at September 21, 2022 04:24 PM (1Nxff)
Posted by: Ferd Berfall at September 21, 2022 04:16 PM (0vFtj)
........
Send Zelenskyy another $50 billion?
Posted by: wth at September 21, 2022 04:25 PM (v0R5T)
Posted by: kulak anachronda at September 21, 2022 04:24 PM (v3pYe)
Pooterrands?
Posted by: Warai-otoko at September 21, 2022 04:25 PM (6FeV1)
Posted by: bear with asymmetrical balls at September 21, 2022 04:22 PM (ppBhU)
Hear hear! I used to live in his district until they gerrymandered me out of it. Not voting for Crenshaw this November was going to be the zenith of my voting career.
Posted by: Count de Monet at September 21, 2022 04:25 PM (4I/2K)
Posted by: Blago
-----------------------
Federal deficit spending since 00 plus entitlement promises pretty much baked this into the cake. The question before the Fed was inflate away the debt or default. They chose the historical way that most government chose in such a crisis--inflate the debt away.
Posted by: whig at September 21, 2022 04:25 PM (CXr4y)
FUCK JOE BIDEN!!!
And an especially big FUCK YOU to all the bloody sycophants that support this regime.
Posted by: Scuba_Dude at September 21, 2022 04:25 PM (WsJuq)
______________
Copious amounts of SPF 10,000.
Posted by: Adirondack Patriot at September 21, 2022 04:25 PM (lf83v)
>>The reason the BADORANGEMAN Cult is having orgasms about that partisan hack DA in NYC going after Trump and his family that has been all over the newz.
Even Andy McCarthy and Billy BagPipes said this is complete hacktastic partisan bullsh*t.
Which is nice, but f**k those guys anyway.
Posted by: Thomas Bender at September 21, 2022 04:25 PM (Xm7Q9)
Posted by: Blago at September 21, 2022 04:18 PM (PwNLq)
++++
Trump came in after the Fed started raising rates. The Fed raised rates twice during Obama's presidency, once per year in each of the last two years of his administration (2015 and 2016), a quarter point each time. They accelerated under Trump, with three hikes in 2017 and four in 2018, still a quarter point each time. Then they reversed course and *cut* rates three times in 2019 (still a quarter point each time), before the emergency cuts in 2020 which dragged them back to zero percent.
Trump was elected after the Fed had started its hikes. They did accelerate under Trump but the trend had already started. Then the Fed blinked in 2019 and started cutting again, and I think it was at least partly due to political pressure from the Trump administration, probably as a quid pro quo when Powell was appointed in 2018 (though this is, of course, speculation).
The Fed plays politics, but this isn't a case of "Because Trump."
Posted by: Joe Mannix (Not a cop!) at September 21, 2022 04:25 PM (t0OGg)
The moose out front is letting one name trolls in again.
Posted by: Somewhere South of I-80 at September 21, 2022 04:25 PM (1DgE4)
The entire premise of an unelected bankers basically throwing the economy into boom and bust cycles is an absurd premise. When we were on a gold standard a $1 was worth the same 100 years apart. We also didn't have the ability to run trillions into debt.
Posted by: Blago at September 21, 2022 04:22 PM (PwNLq)
========
Meh. Ron Paul was right in the aggregate, but I think he was pretty much a conman in the particulars. He pushed crap for his district in bills that he then voted against. He never bothered to try to build a coalition. He was there to fundraise off of his crankism, even though I largely agreed with his crankism.
Rand Paul is honestly not much better. I have a soft spot for these cranks because I want their ideas to win, but they're not in DC to make actual changes. (Well, Ron is retired, but whatevs.)
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:25 PM (LvTSG)
Posted by: Paul at September 21, 2022 04:24 PM (CCM9V)
The Democrat Congress's covid spending sure didn't help but, at least energy prices were low and keeping inflation down.
Also, shut up, Dunce.
Posted by: G'rump928(c) at September 21, 2022 04:26 PM (yQpMk)
go long on gold rubles
Posted by: kulak anachronda at September 21, 2022 04:24 PM (v3pYe)
I even like the smell of gold.
Posted by: William Devane at September 21, 2022 04:26 PM (v0R5T)
Posted by: bear with asymmetrical balls at September 21, 2022 04:26 PM (ppBhU)
Say what? The dolts I installed in the White House can't do anything right.
Hey dummies - there's a big election in 48 days! You are supposed to blame MAGA Republicans for EVERYTHING bad or potentially bad, from here on out!!!!
You don't blame a Federal Board chaired by a guy recently re-appointed by Joe!
Decent employees are damned hard to find these days.
Posted by: George Soros at September 21, 2022 04:26 PM (AMIL/)
Undoubtedly. I wish he hadn't done it.
See, that's how adults deal with things. You should try it.
Posted by: Archimedes at September 21, 2022 04:26 PM (ayzS/)
You do know the gold standard had its own problems right? And Ron Paul was a nut.
Posted by: polynikes at September 21, 2022 04:26 PM (1XoKP)
During the peak of Volcker doing the Volcker the FFR did go *over* 20%. I don't think the long term T-note rates every got over 20%, but they were close.
Posted by: publius, Rascally Rapscallion (Mzdiz) at September 21, 2022 04:26 PM (Mzdiz)
Posted by: Col Bearclaw at September 21, 2022 04:26 PM (Ynyl9)
Watch it burn.
Posted by: Deplorable Ian Galt at September 21, 2022 04:20 PM (ufFY
That would be the smart move, but with this administration... All bets are off.
Posted by: Diogenes at September 21, 2022 04:26 PM (anj39)
Posted by: Commissar of Plenty and Lysenko Solutions at September 21, 2022 04:27 PM (dgOAm)
But now Volunteer Pravda thinks that this is their (plural) role?
Posted by: Axeman at September 21, 2022 04:27 PM (krQz2)
Just $50,000 Bond for Man Who Said He Ran Down ‘Republican Extremist’ Teen
Posted by: SMOD at September 21, 2022 04:27 PM (RHGPo)
________
Nope.
Bye, Felicia.
Posted by: Adirondack Patriot at September 21, 2022 04:27 PM (lf83v)
The NRA decided Independent Socialist Bernie Sanders was better than the Republican. It was only one term after all. How many re-elections ago?
Posted by: rd at September 21, 2022 04:27 PM (Z32m1)
No, they have also called up 300,000 military veterans from the reserves, effective immediately.
This isn't just an increase in draft calls.
I can't imagine how pissed the people who did their year of army service a couple years ago must be to get reinducted with no notice and sent to Ukraine.
Posted by: The ARC of History! at September 21, 2022 04:27 PM (I2/tG)
Posted by: Warai-otoko at September 21, 2022 04:24 PM (6FeV1)
==========
Don't stay home.
Non-votes don't get counted, and there's the possibility of non-used ballots used for cheating purposes.
Voting 3rd party/write in > not voting.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:27 PM (LvTSG)
The media put the same heat on Volcker back then as well. Time magazine did a cover with a picture of Volcker chomping on a big cigar, making him look like Mr. Potter.
Posted by: publius, Rascally Rapscallion (Mzdiz) at September 21, 2022 04:27 PM (Mzdiz)
Posted by: Col Bearclaw at September 21, 2022 04:26 PM (Ynyl9)
---
Nasty letters will be drafted.
Pearls will be clutched on the UN floor.
Posted by: Axeman at September 21, 2022 04:28 PM (krQz2)
No, they have also called up 300,000 military veterans from the reserves, effective immediately.
_________
The world's biggest drunk tank.
Posted by: Hadrian the Seventh at September 21, 2022 04:28 PM (1Nxff)
I feel like America is the back half of TWA 800,
with some inertia in its favor but unlikely to prevail against gravity, it's just a matter of time.
Posted by: Sarahw at September 21, 2022 04:28 PM (g1vnC)
Posted by: People's Hippo Voice at September 21, 2022 04:28 PM (Zf0+a)
Posted by: Mister Scott
------------
You should enjoy it. Only thing is be careful of sharp edges inside the receiver. The inside of loading gate area is one of those areas that can draw blood if you are not careful.
Ask me how I know.
Posted by: whig at September 21, 2022 04:28 PM (CXr4y)
Outstanding investment at twice the price.
This is like the Dems refusing to build the wall because it cost to much. Yeah, that's the reason.
Posted by: Archimedes at September 21, 2022 04:28 PM (ayzS/)
Posted by: REDACTED at September 21, 2022 04:29 PM (us2H3)
>>>>
Corporate always likes laying people off in November. It's called "hunting season" for a reason. Just before Christmas is better.
Posted by: Hadrian the Seventh at September 21, 2022 04:24 PM (1Nxff)
We find it's always better to fire people on a Friday. Studies have statistically shown that there's less chance of an incident if you do it at the end of the week.
Posted by: Bob Slydell at September 21, 2022 04:29 PM (4I/2K)
Rand Paul is honestly not much better. I have a soft spot for these cranks because I want their ideas to win, but they're not in DC to make actual changes. (Well, Ron is retired, but whatevs.)
Posted by: TheJamesMadison
___
I think all politicians are conmen, but how many conservatives were ever talking about the Federal Reserve besides him?
It's funny because if you want small government, cutting up the government's unlimited credit card known as the FED is a big part of it.
Posted by: Blago at September 21, 2022 04:29 PM (PwNLq)
Posted by: TheJamesMadison
-------------------
Yep. Or you can vote for local officials only if they meet your muster. Not voting entirely is how you become a floater and others vote in your name.
Posted by: whig at September 21, 2022 04:30 PM (CXr4y)
It's funny because if you want small government, cutting up the government's unlimited credit card known as the FED is a big part of it.
Posted by: Blago at September 21, 2022 04:29 PM (PwNLq)
=========
Talk is cheap. I appreciate it, but Ron Paul never tried to build a coalition in Congress to even begin to curb the Fed's powers.
Instead, he got his Congressional pension.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:30 PM (LvTSG)
I was reading on Denninger's forum that mass lay-offs in the coporate sectors are coming in Oct through Nov. Lots of people on the chopping block.
Posted by: Hadrian the Seventh at September 21, 2022 04:24 PM (1Nxff)
Ooooo PACKAGE! Me!! Me!!
Time to retire anyway, and have another iron in the fire I need to attend to.
Posted by: CZ=FNG, Free Republic of Florida at September 21, 2022 04:30 PM (MkuC5)
Posted by: Wesley Crusher at September 21, 2022 04:31 PM (nEMOH)
Posted by: Ferd Berfall at September 21, 2022 04:16 PM (0vFtj)
.........
Pray that Joe forgets the codes.
Posted by: William Devane at September 21, 2022 04:31 PM (v0R5T)
Posted by: REDACTED at September 21, 2022 04:31 PM (us2H3)
Posted by: Joe Mannix (Not a cop!) at September 21, 2022 04:18 PM (t0OGg)
Lower interest rates mean greater investment in capital goods (I am not contradicting you, just finessing here) and a lot of companies have too much money in capital investments that have a longer term for payback because they expected the interest rates to remain low. As such they are invested wrong and may have to liquidate. One term for this is "time preference" and has to do with the current not being as important as the eventual payoff.
The liquidation itself is a problem when a company that is a Billion dollars winds up worth thirty million, for example, with sixty million in liability.
Posted by: Kindltot at September 21, 2022 04:31 PM (xhaym)
7/16" OSB 4x8 sheets were up around $35 for a while, now about $13.50. No too many years ago the were around $7-8. Shutdowns probably messed up supply chains, now stabilized, but still almost double. Might go lower if housing starts crater ... but energy to produce still expensive. idk what is next, I think markets go much lower.
Posted by: illiniwek at September 21, 2022 04:31 PM (Cus5s)
Posted by: Seems Legit at September 21, 2022 04:32 PM (Lv84X)
And there is a special note in the employees personnel file if you should bring in an armed guard before the termination interview.
Posted by: The ARC of History! at September 21, 2022 04:32 PM (I2/tG)
Good point, Paul. I personally feel that Trump is responsible for every evil to plague the United States and its citizens since his birth including sports team losses, pet disappearances and jock itch.
Posted by: Raul at September 21, 2022 04:32 PM (vH/6k)
Posted by: Blago at September 21, 2022 04:22 PM (PwNLq)
In fairness, we had financial panics in 1819, 1837, 1857, 1873, 1893, and 1907. It took the Federal Reserve to make depressions long lasting.
Posted by: G'rump928(c) at September 21, 2022 04:32 PM (yQpMk)
Posted by: Kindltot at September 21, 2022 04:32 PM (xhaym)
Posted by: Paul at September 21, 2022 04:24 PM (CCM9V)
++++
I know you're a troll, but what the hell. Yes, it contributed to the current inflation. If Trump were still president, we'd still have inflation and rates would still be going up. It would, however, not be anything like as severe and it would be over faster, for a number of reasons:
1. Massive spending bills wouldn't have happened like they did under Biden. Infrastructure bill? Extra COVID relief? Green New Deal? Nope. None of it.
2. We'd still be producing enough energy and wouldn't have shocked the energy markets, and thus would not have a key upstream factor in fast-moving inflation.
3. There'd be no war in Ukraine, with no massive spending bills to intervene in that war or even more catastrophe in global energy markets and global food markets (look at cooking oils for an example) that have resulted in reductions in trade to protect various domestic markets and populations.
4. The regulatory environment would still be conducive to rapid business development.
5. The supply chain disruptions would have been lessened.
Posted by: Joe Mannix (Not a cop!) at September 21, 2022 04:32 PM (t0OGg)
Look for someone who doesn't want to die a virgin?
Posted by: Methos at September 21, 2022 04:32 PM (kOpft)
So what do we do if Putin uses Battlefield Nukes in Ukraine ????
Posted by: Ferd Berfall at September 21, 2022 04:16 PM (0vFtj)
Personally? I continue not giving a shit about a couple of Slavic tinpot dictators slugging it out over a port and some black earth.
But G-d only knows what the retards who run this country will do. Something awful, you can count on that.
Posted by: Yudhishthira's Dice at September 21, 2022 04:32 PM (oINRc)
Only peons have to borrow money. If you're not getting scads of freshly laundered money thru the Ukraine- serves you right!
Posted by: The Federal Reserve Bank is None of Those Things at September 21, 2022 04:33 PM (Q14hI)
Posted by: Lost In Space at September 21, 2022 04:33 PM (/qNGG)
Posted by: Col Bearclaw at September 21, 2022 04:33 PM (Ynyl9)
Posted by: Wesley Crusher at September 21, 2022 04:33 PM (nEMOH)
-Leftist troll
"Trump's increased government spending caused inflation!"
-Same leftist troll
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:33 PM (LvTSG)
Posted by: Pudinhead at September 21, 2022 04:33 PM (g/54t)
That's the great think about Work From Home employees - you can just text them that they're fired!
Posted by: HR! at September 21, 2022 04:33 PM (I2/tG)
Posted by: Ferd Berfall at September 21, 2022 04:16 PM (0vFtj)
Mad Joe says the play he will make is destroying Putin's already destroyed Black Sea Fleet. Or destroying Putin's airbases and warplanes in Crimea that the Ukrainians have been hitting hard with missiles and saboteurs. I'll bet Putin is scared, really scared. Remind me whose side Joe is on and whose side he is supposed to be on.
Posted by: Gref at September 21, 2022 04:33 PM (AMIL/)
Posted by: Hadrian the Seventh at September 21, 2022 04:24 PM (1Nxff)
It will be good to watch some of these people sweat for a change.
Small comfort , I know, when I'll be getting it in the shorts too
Posted by: JoeF. at September 21, 2022 04:33 PM (mR6Gs)
Instead, he got his Congressional pension.
Posted by: TheJamesMadison
___
I'm honestly not a big Ron Paul fan, I didnt vote for him, but what exactly is he supposed to do if his own party is trying to get rid of him because he was insufficiently pro-Iraq War? he ran on an issue no one else was even talking about.
I remember they tried to make a big stink about him regarding pork barrel projects, but that's not even a rounding error on federal budgets. That was McCain's big issue of virtue signaling nonsense.
Posted by: Blago at September 21, 2022 04:33 PM (PwNLq)
Posted by: publius, Rascally Rapscallion (Mzdiz) at September 21, 2022 04:27 PM (Mzdiz)
---
The the Evil/Good switcheroo that Volunteer Pravda likes to make every time the party alignment changes.
A conservative FED chair against a Dem president is always a symbol of greed and excess and no care for the pain they are causing through the economy.
A Dem-appointed FED chair is always doing the best they can and the "failing" Pub President just needs to suck it up and do a better job.
Posted by: Axeman at September 21, 2022 04:33 PM (krQz2)
Posted by: Big Fat Meanie at September 21, 2022 04:34 PM (nnZPb)
The liquidation itself is a problem when a company that is a Billion dollars winds up worth thirty million, for example, with sixty million in liability.
Posted by: Kindltot at September 21, 2022 04:31 PM (xhaym)
++++
Yup. It will cause serious problems, even in healthy businesses. The healthy businesses will survive, though, but the zombies will fail under the load.
Fake zombie companies like IBM are going to be interesting to watch.
Posted by: Joe Mannix (Not a cop!) at September 21, 2022 04:34 PM (t0OGg)
Posted by: REDACTED at September 21, 2022 04:34 PM (us2H3)
and it's not the new Fed who cares more about ESG/DIE and the current thing.
No, it's some sort of hypothetical fed that's doing, one run by straight old white men (ewww!) who are only concerned with the bottom line.
Posted by: sockamster, Aos ShowRunner at September 21, 2022 04:34 PM (OuH7W)
https://en.wikipedia.org/wiki/
Conscription_in_Russia
Posted by: GnuBreed at September 21, 2022 04:24 PM (JOtiF)
***
Haven't really tracked it since the early oughts. I was thinking this is an additional callup to the standard annual thing. Reserves and such.
Its a man-grab, and not in a good way.
Speculatin' here. A year from now Russia is sitting there with a million men underarms and fresh battle experience. NATO...What to do??? What to do???
Posted by: Diogenes at September 21, 2022 04:35 PM (anj39)
I agree. Excellent list.
Posted by: polynikes at September 21, 2022 04:35 PM (1XoKP)
Posted by: Col Bearclaw at September 21, 2022 04:35 PM (Ynyl9)
Posted by: ace
*
Not sure if it was mentioned, but it was
We just want to visit our special friend in the hospital. Or maybe
We just want to get insurance for our special friend. I'm not sure which was first. Both of which were already legal.
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 04:35 PM (Wndnv)
Posted by: Skip's phone at September 21, 2022 04:36 PM (rNhFv)
*
Check to see if it's September 24th.
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 04:36 PM (Wndnv)
Posted by: JoeF. at September 21, 2022 04:33 PM
You say that like it's a bad thing.
Posted by: Surprise Otters at September 21, 2022 04:36 PM (nEMOH)
______________
Copious amounts of SPF 10,000.
Posted by: Adirondack Patriot at September 21, 2022 04:25 PM
Broken Arrow, Broken Arrow. No eating, smoking or drinking for the next 10,000 years.
Posted by: Mister Scott (Formerly GWS) at September 21, 2022 04:36 PM (bVYXr)
Posted by: Hadrian the Seventh at September 21, 2022 04:24 PM (1Nxff)
---
My continental division ("North American") just had a meeting about potential cut-backs. Lucky for me, they have funneled it through my superiors that they plan to make no changes in software staffing, and they still plan to increase it.
Posted by: Axeman at September 21, 2022 04:36 PM (krQz2)
Posted by: G'rump928(c)
___
Here's the thing, a gold standard doesn't guarantee no one ever feels financial pain. It does though make a more stable currency. You can see on a chart where a dollar in 1800 is worth just about the same as a dollar in 1900.
Since the Federal Reserve was created, our currency has lost 99% of its value. With the Federal Reserve's "mission" being a stable currency. It just shows the failure of what happens when you put the government in charge of fiat currency.
Posted by: Blago at September 21, 2022 04:37 PM (PwNLq)
Posted by: Blago at September 21, 2022 04:33 PM (PwNLq)
=========
It undermines his talk about deficit spending. "Deficit spending is bad, and I vote against every budget because of the deficits!" "Also, include my district's pork in that bill I'm gonna vote against that's guaranteed to pass."
In terms of "ending the fed", the point was that he was largely independent financially regarding his campaigns, which allowed him to saw whatever he wanted without worrying about the GOP primarying him or denying him funds. That's a strong place to start building a coalition, by extending that funding to fellow minds in Congress, getting them loyal to you rather than the GOPe. A slow process that has a better chance of actually affecting some change (a dozen R's in a close House refusing to vote for a bill? that's something) than just empty talk.
I don't hate the Pauls. They are not any kinds of leaders, though.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:37 PM (LvTSG)
Posted by: Seems Legit at September 21, 2022 04:32 PM (Lv84X)
PSYOP
Not worth worrying about.
Posted by: CZ=FNG, Free Republic of Florida at September 21, 2022 04:37 PM (MkuC5)
///
oh, you know...we'll all die
Posted by: sockamster, Aos ShowRunner at September 21, 2022 04:37 PM (OuH7W)
Posted by: Lost In Space at September 21, 2022 04:33 PM (/qNGG)
I keep saying that as bad as Carter was, the country he led hadn't gone off the rails yet. No one was chopping off body parts, chemically castrating kids, cancelling everybody for things they said, and women were slim and eminently bangable, not tatted up blue-haired land whales. We had fewer Mexicans--at least outside of California-- and virtually no Muslims
Posted by: JoeF. at September 21, 2022 04:37 PM (mR6Gs)
Posted by: Skip's phone at September 21, 2022 04:36 PM (rNhFv)
---
Jim Jones was just this crazy reverend cult guru from Indiana!
Posted by: Axeman at September 21, 2022 04:38 PM (krQz2)
*
A German politician said everyone will remember where they would be on September 24th.
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 04:38 PM (Wndnv)
////
they didn't fail.
they got rich, didn't they? The got their green new deal passed, all they had to do is name it something related to the current thing.
Posted by: sockamster, Aos ShowRunner at September 21, 2022 04:38 PM (OuH7W)
Posted by: Skip's phone at September 21, 2022 04:36 PM (rNhFv)
Never take blame
Never admit defeat
Posted by: JoeF. at September 21, 2022 04:39 PM (mR6Gs)
Posted by: Blago at September 21, 2022 04:22 PM (PwNLq)
Mostly it meant the governments couldn't run world wars and a military adventure for 80 years without going broke, and had to pay full price for vote buying construction projects
The Treasury and Congress could create some inflation via the redeeming value of silver against gold, and could issue things like the railroad bonds which were the reason for a number of the late 1800's panics.
Banks themselves could issue currency above reserves and go bankrupt as well, but this was something that was a short cycle correction
Posted by: Kindltot at September 21, 2022 04:39 PM (xhaym)
Posted by: sockamster, Aos ShowRunner at September 21, 2022 04:39 PM (OuH7W)
Posted by: olddog in mo at September 21, 2022 04:39 PM (ju2Fy)
Nope, big change. The 300,000 reservists got their callup notices right after Putin's speech, and were given less than 24 hours to report to their local induction center.
Some parts of the Russian government still function, apparently.
Speculatin' here. A year from now Russia is sitting there with a million men underarms and fresh battle experience. NATO...What to do??? What to do???
Russia has two million people in the reserves.
Posted by: HR! at September 21, 2022 04:39 PM (I2/tG)
It's going to take a whole lot more than a couple more 0.75% interest rates hikes to undo the effect of that. Too bad nobody tried warning about this disaster.
Posted by: Ripley at September 21, 2022 04:39 PM (MxEKc)
Try as you might, you will never make me nostalgic for the 70s. Well, with the exception of getting laid in college.
Posted by: Archimedes at September 21, 2022 04:39 PM (ayzS/)
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 04:38 PM (Wndnv)
Will if you will remember it means you survive...
Posted by: It's me donna at September 21, 2022 04:39 PM (bs+z0)
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 04:38 PM (Wndnv)
The Bundestag Fire.
Posted by: G'rump928(c) at September 21, 2022 04:39 PM (yQpMk)
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 04:39 PM (Wndnv)
Posted by: bear with asymmetrical balls at September 21, 2022 04:39 PM (ppBhU)
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:37 PM (LvTSG)
---
That's a good way to put it.
I like Rand more than I do Ron, though.
Posted by: Axeman at September 21, 2022 04:39 PM (krQz2)
Posted by: sockamster, Aos ShowRunner at September 21, 2022 04:39 PM (OuH7W)
========
The greatest economy in American history.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:40 PM (LvTSG)
Instead, he got his Congressional pension.
Posted by: TheJamesMadison
-----------------------
Ron Paul had a predecessor. There was a guy named HR Gross who was a Congress critter from Iowa. He was known as the abominable no-man due to his objections and votes against government spending bills.
The problem with preaching austerity is that everyone wants to go to heaven but no one wants to die. Austerity is unpopular with the voting public until AFTER the inevitable disaster happens when a government spends too much and takes in too little in taxes. Arguably, for the US, the reset will be more difficult due to the use of the dollar as the world reserve currency for convenience. The Euro, yen, or the yuan are also in countries that have similar if not worse debt problems so dunno but world trading will collapse as a result somewhat like in the Great Depression.
Posted by: whig at September 21, 2022 04:40 PM (CXr4y)
That is going to drive inventory down, which will drive prices up. With higher interest rates. So demand will go down.
Posted by: blaster at September 21, 2022 04:40 PM (pwExq)
Posted by: Col Bearclaw
They want to create a World without Sin. A Utopia.
All Utopia's lead to death camps.
Posted by: Puddleglum at work at September 21, 2022 04:40 PM (3FiQa)
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 04:38 PM (Wndnv)
Who? A Socialist politician? A conservative? What did he say before that--and after that? Was it in response to a question? About what?
CONTEXT?
Posted by: JoeF. at September 21, 2022 04:40 PM (mR6Gs)
*
Possible inflation next year.
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 04:40 PM (Wndnv)
Posted by: Paco at September 21, 2022 04:40 PM (njExo)
Posted by: The Biden Administration! at September 21, 2022 04:40 PM (I2/tG)
Posted by: polynikes at September 21, 2022 04:41 PM (1XoKP)
Posted by: Seems Legit at September 21, 2022 04:32 PM (Lv84X)
A Volkswagen / Audi parts bin car produced by Audi and rebadged as a Porsche.
Posted by: Harm Lagaay, Porsche AG, 924 designer at September 21, 2022 04:41 PM (4I/2K)
Posted by: bear with asymmetrical balls at September 21, 2022 04:39 PM (ppBhU)
---
The crest of the GOP reads " Is Not The Hill To Die On".
Posted by: Axeman at September 21, 2022 04:41 PM (krQz2)
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 04:41 PM (Wndnv)
Posted by: Maj. Healey at September 21, 2022 04:41 PM (ZCool)
Posted by: Blake - semi lurker at large at September 21, 2022 04:41 PM (0oyLo)
Posted by: The ARC of History! at September 21, 2022 04:27 PM
Probably about the same number of Reservists I did Admin discharges on when they were activated and refused to deploy for desert Storm. There were a bunch.
Posted by: Mister Scott (Formerly GWS) at September 21, 2022 04:41 PM (bVYXr)
Posted by: That guy who always asks... at September 21, 2022 04:41 PM (Xrfse)
Yes they will say Trump lied or it's Trump's fault....
Posted by: Ferd Berfall at September 21, 2022 04:41 PM (eRS2I)
Posted by: Gref at September 21, 2022 04:33 PM (AMIL/)
He is definitely not scared of us or most anyone else on the planet - but he is scared of losing Russia, and that country has a very bleak future because of demographics. Their population is declining rapidly, they are putting the one generation that can have kids right now through the military meat grinder in Ukraine. Russia has no strong future, period. They are on the decline. Putin knows this, which is why he's acting now.
It's a crapshoot what will happen regarding nukes. This is Russia's last hurrah. And I don't mean just Ukraine, they have other geographic holes they want to fill since the fall of the USSR.
Posted by: Colonel Travis at September 21, 2022 04:41 PM (RG7Wy)
Posted by: Col Bearclaw
The Golden Age, when we all get pissed on
Posted by: JoeF. at September 21, 2022 04:41 PM (mR6Gs)
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:40 PM (LvTSG)
Time Magazine's Economy Of The Year
Posted by: Warai-otoko at September 21, 2022 04:41 PM (6FeV1)
We pay interest on the Federal debt... and we now pay a LOT of that interest to? The Fed Res Bank... who just raised interest rates.. now, when the Fed makes money, they pay a dividend to??? Their stock holders, which are other Banks.
System is rigged by Bankers not explaining reality to Politicians, and Politicians spending... and we the Taxpayer who SAVED money... the ones not in debt, are getting screwed.
Ergo, banks will make money off of inflation.
Posted by: Romeo13 at September 21, 2022 04:41 PM (oHd/0)
Posted by: Pudinhead at September 21, 2022 04:41 PM (g/54t)
Posted by: sockamster, Aos ShowRunner at September 21, 2022 04:41 PM (OuH7W)
Posted by: Seems Legit at September 21, 2022 04:32 PM (Lv84X)
---
The Germans want to add two days to the week.
Pagans.
Posted by: Axeman at September 21, 2022 04:41 PM (krQz2)
Mitch McConnell rating down 27 percent to 3.00
Posted by: Maj. Healey at September 21, 2022 04:41 PM (ZCool)
=======
If Mitch were running for re-election this year, he'd win by 50 points.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:41 PM (LvTSG)
Posted by: That guy who always asks... at September 21, 2022 04:42 PM (Xrfse)
Posted by: sockamster, Aos ShowRunner at September 21, 2022 04:39 PM (OuH7W)
"Mounting fears of potential recession"
Posted by: Methos at September 21, 2022 04:42 PM (kOpft)
Posted by: polynikes at September 21, 2022 04:42 PM (1XoKP)
Posted by: TheJamesMadison
___
To me, this is like Trump talking up small government and then spending Obama under the table.
Except in Ron Paul's case, it really is a meaningless issue imo.
I can even sympathize with the idea that I want my Congressional rep to bring home federal dollars rather than say L.A. gets a lightrail system with my tax dollars while our roads and bridges crumble.
I don't really care about Ron Paul as a person, but I do think conservatives are ignoring a key piece of how to get smaller government by reforming the Federal Reserve.
Posted by: Blago at September 21, 2022 04:42 PM (PwNLq)
TJM this is a great point! Yes.
I always get people saying "you should lead this project you would be amazing" and at 29 I know myself. No. I would not. I'm great at advising and great at mentoring. I cannot lead.
Just a thing. And you're right, both Doctor Pauls are the same. A lot of lefties are the same, but they think they can do everything perfectly and have no inner voice, so...
Posted by: BlackOrchid at September 21, 2022 04:42 PM (w0NJk)
That is going to drive inventory down, which will drive prices up. With higher interest rates. So demand will go down.
Perhaps, but that will be offset by people who MUST move, and by people who can't make ends meet after buying mortgages they couldn't afford, and then losing their jobs.
Posted by: Archimedes at September 21, 2022 04:43 PM (ayzS/)
We pay interest on the Federal debt... and we now pay a LOT of that interest to? The Fed Res Bank... who just raised interest rates.. now, when the Fed makes money, they pay a dividend to??? Their stock holders, which are other Banks.
System is rigged by Bankers not explaining reality to Politicians, and Politicians spending... and we the Taxpayer who SAVED money... the ones not in debt, are getting screwed.
Ergo, banks will make money off of inflation.
-----------------
Winner, winner - chicken dinner.
Posted by: Pudinhead at September 21, 2022 04:43 PM (g/54t)
Posted by: Blago at September 21, 2022 04:42 PM (PwNLq)
Ron or Rand ?
Posted by: It's me donna at September 21, 2022 04:43 PM (bs+z0)
The good old days. I was trying to buy my first home during that period. It didn't go well, and I didn't get much of a place to live. It was then and there I permanently parted ways with the Left.
Posted by: Lost In Space at September 21, 2022 04:43 PM (/qNGG)
Posted by: G'rump928(c) predicts at September 21, 2022 04:43 PM (yQpMk)
Posted by: Puddleglum at work at September 21, 2022 04:43 PM (3FiQa)
Ergo, banks will make money off of inflation.
Posted by: Romeo13 at September 21, 2022 04:41 PM (oHd/0)
to put it in perspective, the Fed Res Bank just made $37.5 BILLION dollars over the next year, with this rate hike.
Posted by: Romeo13 at September 21, 2022 04:44 PM (oHd/0)
The Russian reserve has over two million former conscripts and contract servicemen on paper, but few are actively trained or prepared for war.[11] Historically, only 10 percent of reservists receive refresher training after completing their initial term of service.[12] Russia lacks the administrative and financial capacity to train reservists on an ongoing basis. According to a 2019 RAND analysis, Russia only had 4,000 to 5,000 troops in what would be considered an active reserve in the Western sense, meaning soldiers attending regular monthly and annual training.
https://tinyurl.com/3resx8z8
Posted by: GnuBreed at September 21, 2022 04:44 PM (JOtiF)
Posted by: Archimedes at September 21, 2022 04:43 PM (ayzS/)
So the bottom falling out will be ameliorated by the bottom falling out?
Posted by: blaster at September 21, 2022 04:44 PM (pwExq)
Posted by: sockamster, Aos ShowRunner at September 21, 2022 04:39 PM (OuH7W)
Impotent. Detumescent. Frightened turtle.
Posted by: Count de Monet at September 21, 2022 04:44 PM (4I/2K)
To send a signal. Russia has specialized in building tiny nukes (less than a kiloton), specifically to send a signal without doing a lot of damage.
Posted by: The Biden Administration! at September 21, 2022 04:44 PM (I2/tG)
Posted by: sockamster, Aos ShowRunner at September 21, 2022 04:39 PM (OuH7W)
---
You'll have to ask the White House Board of Decidin' Stuff.
Besides, we have 0.3% growth, so any recession there might have been is over! </sarc>
Posted by: Axeman at September 21, 2022 04:45 PM (krQz2)
By 2030 we will be living like the Flintstones
Posted by: Big Fat Meanie at September 21, 2022 04:45 PM (nnZPb)
Posted by: washrivergal at September 21, 2022 04:45 PM (JxDRp)
Posted by: G'rump928(c) predicts at September 21, 2022 04:43 PM (yQpMk)
---
Trump overvalued the DOW and has cheated us all.
Posted by: Axeman at September 21, 2022 04:46 PM (krQz2)
Posted by: bear with asymmetrical balls
---------------------
And when you start goring sacred cows, how many here are going to like reining in government pensions and health care, social security, and so on. The only way to bring taxes and spending back into balance is cut something like 40 percent of the federal budget OVERALL and the only way to do that cut is make it apply to everyone with no exclusions based on age, wealth, etc. Ultimately, everyone, voters and pols, agree only to kick it down the road.
Everyone hates austerity which is why the Greenies try to weasel out of the consequences of their actions but they are due to come up for a good rogering just as the peeps on Capitol Hill are this winter.
Posted by: whig at September 21, 2022 04:46 PM (CXr4y)
Posted by: Big Fat Meanie at September 21, 2022 04:45 PM (nnZPb)
Without massive Brontosaurus Ribs to take out
Posted by: JoeF. at September 21, 2022 04:46 PM (mR6Gs)
And no, please don't include links of said booty.
Posted by: FenelonSpoke at September 21, 2022 04:46 PM (vH/6k)
Posted by: Paul von Hindenburg at September 21, 2022 04:46 PM (z9V4B)
It's true that Russia doesn't train their reserves, but I suspect that all the 300,000 people called up did their military service five years ago or less. (The callup is only 15% of Russia's total reserves.)
Putin promised that they would get refresher training before being sent to Ukraine.
Posted by: The Biden Administration! at September 21, 2022 04:46 PM (I2/tG)
Posted by: Pudinhead at September 21, 2022 04:41 PM (g/54t)
Fed Interest rates above 1% are racist!
Posted by: Gref at September 21, 2022 04:46 PM (AMIL/)
Posted by: washrivergal at September 21, 2022 04:45 PM (JxDRp)
---
Biden would be in trouble if he told you.
Posted by: Axeman at September 21, 2022 04:46 PM (krQz2)
Posted by: whig at September 21, 2022 04:46 PM (CXr4y)
=========
"Cut government spending, just not mine."
-The Tea Party, pretty much
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:47 PM (LvTSG)
Didn't they put those in suitcases, like 30 years ago?
Posted by: Methos at September 21, 2022 04:47 PM (kOpft)
---
There will never be a political coalition to cut spending.
We lost that argument badly.
There are two plans now:
1) keep spending and rub the fur off that lucky rabbit foot in hopes growth will absorb the $16 trillion pumped over the last 13 years. This is the Republican plan.
2) keep spending and blame the crash on Republicans.
Posted by: People's Hippo Voice at September 21, 2022 04:47 PM (Zf0+a)
Could someone explain the whole 9/24 deal?
Posted by: Seems Legit at September 21, 2022 04:32 PM (Lv84X)
_________
NHL pre-season starts.
So who's this "German politician"? That's all I ever see with this 9/24 stuffola.
Posted by: Hadrian the Seventh at September 21, 2022 04:47 PM (1Nxff)
No, you said inventory would fall. There are offsetting factors in play.
Posted by: Archimedes at September 21, 2022 04:47 PM (ayzS/)
Posted by: G'rump928(c) predicts at September 21, 2022 04:43 PM (yQpMk)
That is also my bottom for buying - but I don't want to say that's the actual bottom b/c it could go even lower...
Posted by: Nova local at September 21, 2022 04:47 PM (exHjb)
Posted by: Warai-otoko at September 21, 2022 04:47 PM (6FeV1)
Posted by: washrivergal at September 21, 2022 04:45 PM (JxDRp)
---
I've been known to ask that question.
Posted by: Jerry Seinfeld at September 21, 2022 04:47 PM (krQz2)
CONTEXT?
Posted by: JoeF
*
I ain't speak no German, yo.
I'm told "he misspoke" and it was about Russia invading Ukraine, but no one cares much about that, much less remembers where they were or the date it happened.
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 04:47 PM (Wndnv)
just before Columbus Day weekend is my guess
Posted by: BlackOrchid at September 21, 2022 04:47 PM (w0NJk)
Posted by: Pork Chops & Bacons at September 21, 2022 04:47 PM (BdMk6)
The good old days. I was trying to buy my first home during that period. It didn't go well, and I didn't get much of a place to live. It was then and there I permanently parted ways with the Left.
Posted by: Lost In Space at September 21, 2022 04:43 PM (/qNGG)
Our first mortgage was also at 13.5%, in '80 or '81. That was the LOW for the year, so we felt lucky to get that rate. Oh. And Carter had requested all companies stop giving annual raises, and they happily obeyed. Go figure.
Posted by: GnuBreed at September 21, 2022 04:48 PM (JOtiF)
Posted by: Axeman
little baby Beau up in heave would cry if he had to tell you
Posted by: sockamster, Aos ShowRunner at September 21, 2022 04:48 PM (OuH7W)
Posted by: JoeF. at September 21, 2022 04:48 PM (mR6Gs)
Didn't they put those in suitcases, like 30 years ago?
Posted by: Methos at September 21, 2022 04:47 PM (kOpft)
___________
"The Soviet microchip! The largest microchip in the world!"
Posted by: Hadrian the Seventh at September 21, 2022 04:48 PM (1Nxff)
Posted by: Maj. Healey at September 21, 2022 04:48 PM (ZCool)
---
Andrew Gillum gets upset when the bottom falls out.
Posted by: Axeman at September 21, 2022 04:48 PM (krQz2)
Posted by: It's me donna
I think Rand is a more "rational" voice than his dad, I like what he has to say. I dont think though he could ever win the Presidency, but I'm glad he's a Senator. At least he's willing to tackle issues that scare other GOP politicians.
He's sort of like a Barry Goldwater.
Posted by: Blago at September 21, 2022 04:48 PM (PwNLq)
Posted by: Zeera. 'Nobody Cares, Drink Harder' at September 21, 2022 04:48 PM (Oak/b)
Posted by: polynikes at September 21, 2022 04:48 PM (1XoKP)
By 2030 we will be living like the Flintstones
Posted by: Big Fat Meanie
You will own nothing, eat bugs, and live in pods.
Posted by: Klaus Schwab's creepy smile at September 21, 2022 04:48 PM (3FiQa)
Posted by: GnuBreed at September 21, 2022 04:44 PM (JOtiF)
---
Understandingwar.org is run by Victoria Nuland's husband. It's job is to promote war against Russia. I used to follow the site until I realized that it's entire purpose was to get US boots on the ground in Syria and Russia.
Posted by: Ace-Endorsed Author A.H. Lloyd at September 21, 2022 04:49 PM (llXky)
Coincidentally, a new Russian law just went into effect sharply increasing the penalties for things like desertion and refusing induction.
Posted by: The Biden Administration! at September 21, 2022 04:49 PM (I2/tG)
Posted by: Biden at September 21, 2022 04:49 PM (zf3Ob)
To send a signal. Russia has specialized in building tiny nukes (less than a kiloton), specifically to send a signal without doing a lot of damage.
Still is some localized radiation
Posted by: Ferd Berfall at September 21, 2022 04:49 PM (eRS2I)
Posted by: G'rump928(c) at September 21, 2022 04:49 PM (yQpMk)
Inflation is good!
Posted by: Michelin Man at September 21, 2022 04:49 PM (WmGrA)
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 04:49 PM (Wndnv)
---------
Not to mention that any tin-pot dictator of your city, county, state, or nation can issue diktats on a whim that require millions of small businesses to close and go bankrupt in the name of "emergency"and "crisis" so that the big stores and the 800-ton online gorilla can pad their bottom lines and corporate bonuses.
Why would anybody start a small business in that America?
Posted by: ShainS -- Go Galt or Go Rome at September 21, 2022 04:50 PM (VuxCM)
Posted by: Seems Legit at September 21, 2022 04:50 PM (Lv84X)
Posted by: Archimedes at September 21, 2022 04:50 PM (ayzS/)
That is going to drive inventory down, which will drive prices up. With higher interest rates. So demand will go down.
Posted by: blaster at September 21, 2022 04:40 PM
We were looking at selling an moving back to Kentucky next spring, ain't gonna happen now. No way I am going to abandon a 3% mortgage that is over half paid off for an inflated price house at 6.25% or more.
We are going to stay here until everything settles out.
Posted by: Mister Scott (Formerly GWS) at September 21, 2022 04:50 PM (bVYXr)
Mad Joe says the play he will make is destroying Putin's already destroyed Black Sea Fleet. Or destroying Putin's airbases and warplanes in Crimea that the Ukrainians have been hitting hard with missiles and saboteurs. I'll bet Putin is scared, really scared. Remind me whose side Joe is on and whose side he is supposed to be on.
Posted by: Gref
If the gringos invade Cuba because they claim we sank the Maine, we'll vigorously respond... by sinking the Maine!
Pinche chingadera...
Posted by: Spain, circa 1898 at September 21, 2022 04:50 PM (n+4am)
AOC doesn't have huge tits or a big juicy booty.
But she is petite, so those particular assets stand out more.
Posted by: JoeF. at September 21, 2022 04:50 PM (mR6Gs)
Here is what the Fed has done starting in '08:
https://tinyurl.com/y2cd5b6w
Looking at that chart, you say, "Weeee, Weimar here we come!" This is M0, monetary base.
Note, they are shrinking the base pretty good in relative terms now. Note that vertical jump in 2020. That was the Coof. Shutting the economy down required the Fed to print like a maniac, and that's was the final push that pushed us into this inflationary conflagration.
Posted by: publius, Rascally Rapscallion (Mzdiz) at September 21, 2022 04:50 PM (Mzdiz)
Coincidentally, a new Russian law just went into effect sharply increasing the penalties for things like desertion and refusing induction.
__________
Making shtrafbats great again.
Posted by: Hadrian the Seventh at September 21, 2022 04:50 PM (1Nxff)
Posted by: polynikes at September 21, 2022 04:48 PM (1XoKP)
It's why they released all the strategic reserves to bring down gas prices. SS is not linked to CPI, but to the CPI-W, which weights gas/energy much more strongly.
Why, when most old people don't drive - who knows...yes, you do...
Posted by: Nova local at September 21, 2022 04:50 PM (exHjb)
It is a pure propaganda outfit. I've actually spoken with them in a professional capacity and their gig is to hype RUSSIA all the time and also try to get us back in Iraq.
Posted by: Ace-Endorsed Author A.H. Lloyd at September 21, 2022 04:50 PM (llXky)
Posted by: Seems Legit at September 21, 2022 04:50 PM (Lv84X)
=========
Fiat money, wars on neighbors, blood in the streets, killing all of the early revolutionary leaders, a power vacuum filled by a foreign emperor?
Sounds like an interesting decade.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:51 PM (LvTSG)
Posted by: That guy who always says... at September 21, 2022 04:51 PM (Xrfse)
Posted by: runner at September 21, 2022 04:51 PM (T+IcW)
Posted by: G'rump928(c)
Feds are already sending up trial balloon of 8.6% COLAs, which they will lock in before the final quarter.
Posted by: Joe Mama at September 21, 2022 04:51 PM (WmGrA)
That's the story of my life I suppose.
They tried to kill me. I lived!
Posted by: gourmand du jour, w new lease on life at September 21, 2022 04:51 PM (jTmQV)
Posted by: JoeF. at September 21, 2022 04:51 PM (mR6Gs)
Posted by: Seems Legit at September 21, 2022 04:32 PM (Lv84X)
I think it has something to do with German natural gas stocks or the end of some sort of purchasing agreement.
Posted by: Kindltot at September 21, 2022 04:52 PM (xhaym)
Inflation is good!
Posted by: Michelin Man at September 21, 2022 04:49 PM (WmGrA)
-----
Well, I laughed.
Posted by: Seems Legit at September 21, 2022 04:52 PM (Lv84X)
they get some expenses money, most goes back to the government. (The Fed Reserve is the government)
publius knows this stuff better than I do, but we discussed this previously.
Posted by: illiniwek at September 21, 2022 04:52 PM (Cus5s)
Posted by: Axeman at September 21, 2022 04:46 PM (krQz2)
++++
How many times have we heard that one? They are the most absurd and strangest remarks I have ever witnessed. No one seems to ask, or care.
Posted by: washrivergal at September 21, 2022 04:52 PM (JxDRp)
Posted by: Biden at September 21, 2022 04:49 PM (zf3Ob)
------------
Listen, you senile old pervert. You already broke a leg "chasing" me. What do you think is going to happen when you try to wag my tail?
Posted by: Biden's Dog at September 21, 2022 04:52 PM (0oyLo)
Posted by: Ted Torgerson at September 21, 2022 04:52 PM (vN+oL)
Aka an abacus.
Posted by: Archimedes at September 21, 2022 04:50 PM (ayzS/)
I'm pretty sure it was a pirated TI Scientific calculator duck-taped to the inside of the lid of the suitcase.
Posted by: CZ=FNG, Free Republic of Florida at September 21, 2022 04:53 PM (MkuC5)
https://www.youtube.com/watch?v=L9VoRmjxvPs
Posted by: The ARC of History! at September 21, 2022 04:53 PM (I2/tG)
It is a pure propaganda outfit. I've actually spoken with them in a professional capacity and their gig is to hype RUSSIA all the time and also try to get us back in Iraq.
====
True dat. Kristol and Kagan are behind that one. Pure neo propaganda outfit.
Posted by: runner at September 21, 2022 04:53 PM (T+IcW)
Posted by: Ace-Endorsed Author A.H. Lloyd at September 21, 2022 04:49 PM (llXky)
Thanks for that heads up. I did not know that. I'll still read their daily updates, but with a jaundiced eye. I do supplement with other sources.
Posted by: GnuBreed at September 21, 2022 04:53 PM (JOtiF)
Sounds like an interesting decade.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:51 PM (LvTSG)
-------
Heh, some of those are already happening. Wait, all of those are happening if you understand China is running Joe.
Posted by: Seems Legit at September 21, 2022 04:53 PM (Lv84X)
Posted by: That guy who always sings... at September 21, 2022 04:53 PM (Xrfse)
https://tinyurl.com/mr39hxx2
Posted by: Maj. Healey at September 21, 2022 04:53 PM (ZCool)
-The Tea Party, pretty much
Posted by: TheJamesMadison
-------------------------
Same thing with taxes. Theoretically, we could forestall fiscal collapse by simply being realistic with our taxes which would require something like the British rates post WWII and that would also quell inflation by simply removing the ability to buy goods. But, inevitably, it would simply end up with more spending and borrowing rather than using the revenue to balance a budget.
Inflating away the debt which in the long run is worse for the economy than default is what the pols are likely to do unless you get a Pinochet enforcing Chicago School economics on the population.
Posted by: whig at September 21, 2022 04:53 PM (CXr4y)
Posted by: Otto Pilot at September 21, 2022 04:54 PM (yQpMk)
Posted by: Seems Legit at September 21, 2022 04:50 PM (Lv84X)
=========
Fiat money, wars on neighbors, blood in the streets, killing all of the early revolutionary leaders, a power vacuum filled by a foreign emperor?
Sounds like an interesting decade.
when leftists run a revolution
and then it takes a strongman to sort out the mess
Posted by: brak at September 21, 2022 04:54 PM (j5Tg0)
Posted by: G'rump928(c)
Feds are already sending up trial balloon of 8.6% COLAs, which they will lock in before the final quarter.
Posted by: Joe Mama at September 21, 2022 04:51 PM
Yea! We get back half of what we lost from the last year as core food prices are all over 15% inflated and rising from last year.
Posted by: Mister Scott (Formerly GWS) at September 21, 2022 04:54 PM (bVYXr)
Posted by: Seems Legit
Uh, there were a few setbacks.
Posted by: headless Maximillian Robespierre at September 21, 2022 04:54 PM (3FiQa)
his ice cream would take a serious hit.
Posted by: Axeman at September 21, 2022 04:54 PM (krQz2)
Posted by: washrivergal at September 21, 2022 04:52 PM (JxDRp)
If the media actually started asking questions??
Did you see what that Brit historian did to Lemon the other night when he asked a question?
That's why they never ask questions.
Posted by: JoeF. at September 21, 2022 04:54 PM (mR6Gs)
Posted by: Seems Legit
---
No. Just no.
Posted by: Axeman at September 21, 2022 04:54 PM (krQz2)
Sounds like an interesting decade.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:51 PM (LvTSG)
You forgot hacking up kids for fun and profit.
Posted by: CZ=FNG, Free Republic of Florida at September 21, 2022 04:54 PM (MkuC5)
Posted by: CZ=FNG, Free Republic of Florida at September 21, 2022 04:53 PM (MkuC5)
Da! Tverskaya Instrumentiy! Werry good for the calculating, Comrade!
Posted by: Warai-otoko at September 21, 2022 04:54 PM (6FeV1)
Still is some localized radiation
Posted by: Ferd Berfall at September 21, 2022 04:49 PM (eRS2I)
3.6 Roentgen. Not great. Not terrible.
Posted by: Anatoly Dyatlov at September 21, 2022 04:54 PM (4I/2K)
Yes, the Federal Reserve profits, less their operating expenses all go back to the US Treasury. The modern "seignorage" in fiat currecy system is the profit from printing money. Not sovereign govt in it's right mind would give that up.
That's the way the Fed was set up.
Posted by: publius, Rascally Rapscallion (Mzdiz) at September 21, 2022 04:55 PM (Mzdiz)
Posted by: headless Maximillian Robespierre at September 21, 2022 04:54 PM (3FiQa)
---
A lot of people just lost their heads.
Posted by: Axeman at September 21, 2022 04:55 PM (krQz2)
I actually generally try to avoid any appearances of A O-C. I watched this one because I wasn't sure what the video had to do with the article.
I think there should be a video of politicians dressed as pirate and pirate girls and have them dancing with big bags of Booty labelled as "political corruption" "graft and greed. They could use the same song though. However, I am unable to make up these sort of dancing computer graphic things.
Posted by: FenelonSpoke at September 21, 2022 04:55 PM (vH/6k)
Posted by: Pudinhead at September 21, 2022 04:55 PM (g/54t)
It was painful, but worthwhile in the long term. He somehow managed to fund foreign adventurism with currency based on gold.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:55 PM (LvTSG)
Posted by: Seems Legit
---
No. Just no.
Posted by: Axeman at September 21, 2022 04:54 PM (krQz2)
Yeah, the guillotines were fun, until the psychopaths turned them on the general populace.
Posted by: Warai-otoko at September 21, 2022 04:55 PM (6FeV1)
Posted by: Regular joe at September 21, 2022 04:56 PM (nnp+f)
Posted by: GnuBreed at September 21, 2022 04:53 PM (JOtiF)
----
I've been reading them for a long time, even built a wargame using their schematics. I reached out to them to discuss potential collaboration and I quickly realized that "accurate simulation/prediction" was not something they were interested in.
They are a typical DC lobbying outfit with regular turnover and when I last followed them circa 2016, I was surprised by how much of their staff was young, female post-grads. You know, *exactly* the profile of people interested in the finer points of conflicts and strategy.
Posted by: Ace-Endorsed Author A.H. Lloyd at September 21, 2022 04:56 PM (llXky)
Perhaps, but that will be offset by people who MUST move, and by people who can't make ends meet after buying mortgages they couldn't afford, and then losing their jobs. Posted by: Archimedes
The Carter years replaced my youthful optimism with a dead fish understanding that I am at the whim of economic forces I have zero control over. Since then, I have structured the essential parts of my life, like shelter, transportation, and food so I can dial back the cash flow and still live a comfortable life. This approach is saving my ass right now. I am pretty sure I could get by on 24K per year or a bit less and still own my rather lovely house without breaking a sweat if it comes to that. Having lived with Grandparents that lived through the Great Depression just may have colored by thoughts here a bit too and unintentionally prepared me for the FJB Regime.
Posted by: Lost In Space at September 21, 2022 04:56 PM (/qNGG)
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:55 PM (LvTSG)
and plunder.
Posted by: G'rump928(c) at September 21, 2022 04:57 PM (yQpMk)
Posted by: G'rump928(c) at September 21, 2022 04:57 PM (yQpMk)
========
Plunder does help.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:57 PM (LvTSG)
“I don't want to be cannon fodder,” one 30-year-old Muscovite who asked for anonymity to speak freely told The Moscow Times.
The most obvious way for men to avoid conscription is to leave the country and Wednesday’s direct flights from Russia to Armenia, Turkey and Azerbaijan — nearby countries that allow Russians to enter without a visa — quickly sold out.
Prices for one-way flights to popular destinations later rose at least eightfold, with tickets from the Russian capital to Yerevan on Thursday being sold for about 160,000 rubles ($2,621) and from Moscow to Dubai priced at 170,000 rubles ($2,784).
Posted by: The ARC of History! at September 21, 2022 04:57 PM (I2/tG)
The Fed does pay a very small "dividend" to the member banks, which has actually been reduced.
Member banks must "buy stock" the Fed Reserve, in a mount proportional to their capital size, via some formula. And they were "at the discretion" of the Fed to be paid a dividend on that. It's very small, and is even smaller now.
This "stock purchase" is just money pulled out of the system to act as a buffer against any losses on the Fed's balance sheet (never happened. Yet). That is the Fed could "lose some money" and to make it up for it, it gets pulled out of the member banks capital. But only a small fraction of a loss could be handled that way.
Posted by: publius, Rascally Rapscallion (Mzdiz) at September 21, 2022 04:57 PM (Mzdiz)
If Brandon decides to get tough before the election for political reasons? Let's think this out.
Political response to Tapioca Joe's tough guy status? 24-72 hours.
Flight time of a Russian ICBM? 30-35 minutes.
Look at this way, after the EMP Strike, there will be NO Voting Machines. Not that anyone will really care.
Posted by: rd at September 21, 2022 04:57 PM (Z32m1)
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:55 PM (LvTSG)
and plunder.
Posted by: G'rump928(c) at September 21, 2022 04:57 PM (yQpMk)
But mostly plunder.
Posted by: CZ=FNG, Free Republic of Florida at September 21, 2022 04:57 PM (MkuC5)
Even if the GOPe gets control, I don't see the courage to shut down the government happening, especially with BigK and Mitch back in the pilot seats.
So, how is it any leverage that we can bend Joey to some realistic action? Never happen. Two years out, we'll be deader than a door nail in no time. Yay.
Posted by: micky at September 21, 2022 04:58 PM (3byMq)
___
The numbers I've seen, even if you say had a 90% tax rate on the "rich" it wouldn't come anywhere close to balancing the books.
The other problem with raising taxes is, the government will just spend the new dollars and take us right back to where we were.
Posted by: Blago at September 21, 2022 04:58 PM (PwNLq)
Posted by: joey biden at September 21, 2022 04:59 PM (yikp0)
Allowed us to buy the Louisiana territory.
Posted by: polynikes at September 21, 2022 04:59 PM (1XoKP)
Posted by: Warai-otoko at September 21, 2022 04:59 PM (6FeV1)
*
It's going to happen immediately after mid terms. The White House announced it.
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 04:59 PM (Wndnv)
Posted by: rd at September 21, 2022 04:57 PM (Z32m1)
If I have to miss the F1 race on Sunday because some marble-mouthed jackass detonates an EMP I am gonna lose it.
Posted by: CZ=FNG, Free Republic of Florida at September 21, 2022 05:00 PM (MkuC5)
A lot of people just lost their heads.
Posted by: Axeman at September 21, 2022 04:55 PM (krQz2)
-----
That was my point.
Posted by: Seems Legit at September 21, 2022 05:00 PM (Lv84X)
You use nukes over in Ukraine and we'll send a 100 million American soldiers to meet them!
Posted by: President Charlie Foxtrot at September 21, 2022 05:00 PM (krQz2)
Looking at the latest DTS (Daily Treasury Statement) the Fed has paid $106B in profit to the Treasury over the last fiscal year.
Posted by: publius, Rascally Rapscallion (Mzdiz) at September 21, 2022 05:00 PM (Mzdiz)
Posted by: Nova local at September 21, 2022 05:00 PM (exHjb)
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 05:00 PM (Wndnv)
+++
Congratulations on your recent marriage to Miley. I am just thrilled for both of you and wish you the very best.
Posted by: washrivergal at September 21, 2022 05:01 PM (JxDRp)
Posted by: Just the Punchline at September 21, 2022 05:02 PM (yQpMk)
Posted by: Chatterbox Mouse at September 21, 2022 05:02 PM (C1rbv)
Ditto!!
Posted by: jewells45 at September 21, 2022 05:02 PM (nxdel)
The other problem with raising taxes is, the government will just spend the new dollars and take us right back to where we were.
Posted by: Blago
-----------------
Requires both high income taxes and consumption taxes like VAT etc. Pretty effective at curbing inflation simply because you put goods other than essentials beyond the power of most people to buy them. The Tories used that to curb consumption of the British until the late 60's while Labor tried to soldier on rationing at first but later with wage price controls which by the 70's, the Tories adopted too under Heath.
Spending though is always a problem under ANY government instituted by man.
Posted by: whig at September 21, 2022 05:02 PM (CXr4y)
Couldn't we just send Corn Pop? I hear he's a "real bad dude", or some such.
Posted by: Somewhere South of I-80 at September 21, 2022 05:02 PM (1DgE4)
Posted by: Moron Robbie - don't ask me to accept what you are when you refused to accept what you are at September 21, 2022 05:00 PM (Wndnv)
---
That will be the single best trip to the grocery store of their short lives!
Posted by: President Charlie Foxtrot at September 21, 2022 05:02 PM (krQz2)
Posted by: Chatterbox Mouse at September 21, 2022 05:02 PM (C1rbv)
Twenty pounds, same as in the City.
Posted by: Warai-otoko at September 21, 2022 05:02 PM (6FeV1)
The Fed's "profits" are taking a big bite, too I see. Over the last month, they've only deposited $777M in profit to the treasury. Federal fiscal year ends Sept 30.
So $106B over a year, and now tailing to less than a billion over the last month.
Posted by: publius, Rascally Rapscallion (Mzdiz) at September 21, 2022 05:03 PM (Mzdiz)
Posted by: bear with asymmetrical balls at September 21, 2022 05:03 PM (ppBhU)
How does it work when it is QE "money", in the trillions? It doesn't earn real interest. BUT they can use it to buy bonds (even corporate) and probably stocks. But is is not real money, so if the zombie company bonds go to zero, no big deal? (they bought a lot of those during pandemic, as I understand it)
Posted by: illiniwek at September 21, 2022 05:03 PM (Cus5s)
Posted by: publius, Rascally Rapscallion (Mzdiz) at September 21, 2022 05:03 PM (Mzdiz)
Posted by: Moron Robbie
----------------
A friend of mine from Turkey made me a Turkish millionaire by giving me a 1 million lira note back in the day worth about $3 bucks and change if I remember. That is how I made my first million.
Posted by: whig at September 21, 2022 05:03 PM (CXr4y)
>> So demand will go down.
Ah but we are going to have an additional 12 million illegals by '24, so demand for housing of all types is going to skyrocket.
We are being crushed for all sides.
Some very bad things are going to start happening very, very soon.
Posted by: Thomas Bender at September 21, 2022 05:05 PM (Xm7Q9)
Portland and the surrounding metro recently passed a number of taxes only on "the rich" - you're only taxed on your income over $150,000.
It's amazing how many rich people there are going to be in Portland!
Posted by: The ARC of History! at September 21, 2022 05:05 PM (I2/tG)
“I don't want to be cannon fodder,” one 30-year-old Muscovite who asked for anonymity to speak freely told The Moscow Times.
Next stop, Martha's Vineyard
Posted by: JoeF. at September 21, 2022 05:05 PM (mR6Gs)
Posted by: Chatterbox Mouse at September 21, 2022 05:02 PM (C1rbv)
Offered rate. Expressed in bob or quid, but not shillings or farthings or three/sixpence.
Posted by: Count de Monet at September 21, 2022 05:06 PM (4I/2K)
FORTUNE
Why you should be happy about inflation and worried about something else, top economist Brad DeLong says
Posted by: anon2020 at September 21, 2022 05:06 PM (RqMDa)
It was painful, but worthwhile in the long term. He somehow managed to fund foreign adventurism with currency based on gold.
Posted by: TheJamesMadison, navigating the destiny machine with Fritz Lang at September 21, 2022 04:55 PM
Psst. Napoleon plundered and raped every every Country or City State he came across.
Posted by: Mister Scott (Formerly GWS) at September 21, 2022 05:06 PM (bVYXr)
And what method has been used previously in history to rev up economies to bring back economic prosperity ???
Posted by: Ferd Berfall at September 21, 2022 05:07 PM (eRS2I)
Posted by: Ferd Berfall at September 21, 2022 05:08 PM (eRS2I)
A Fed "loss": when you're dealing with an entity that can create and destroy money at will, and base money at that, things just don't work normally, although they try to use the same balance sheet terminology. This is done on purpose to obfuscate, I think.
Think of the Fed as living in some "negative universe". Their liabilities are the currency. That's hard money, the hardest of all in the normal positive universe. The hardest asset.
The Fed's asset are the debt and shit they buy with the money they create. Fed creates a dollar. To do that, it "buys" some debt instrument, usually US Ts, for $1, current market value. Asset side goes up a dollar. But then that dollar it just created goes on the liability side.
Suppose something happens and the market value of that T note it just bought drops to 75 cents. The Fed has "lost" 25 cents. That dollar it just created is only backed by 75 cents.
This is all on paper, mind you.
Posted by: publius, Rascally Rapscallion (Mzdiz) at September 21, 2022 05:08 PM (Mzdiz)
Posted by: Shiggz (cool ranch MAGA) at September 21, 2022 05:09 PM (XKC3y)
On the bright side, such as it is, my SS COLA looks to be north of 10% for next year.
Posted by: G'rump928(c)
Feds are already sending up trial balloon of 8.6% COLAs, which they will lock in before the final quarter.
Posted by: Joe Mama
8.6% is the diet COLA
Posted by: Bertram Cabot, Jr. at September 21, 2022 05:09 PM (63Dwl)
Posted by: whig at September 21, 2022 05:03 PM (CXr4y)
I have a postage stamp from Germany during the Republic, you know, the one where the value is like 1M deutsche marks or some such...so, yeah...Imma millionaire!
Posted by: Boswell at September 21, 2022 05:10 PM (+Cgut)
Posted by: Skip's phone at September 21, 2022 05:12 PM (k8B25)
Until Biden & Co get religion on basic economic theory, our government won't have the collective guts to do what needs to be done - and they're going to either forestall the inevitable downturn, or put us into a vicious cycle of ongoing inflation. Under no circumstances do we want the public to get 'used' to an environment of wildly increasing prices.
Posted by: Darrell Harris at September 21, 2022 05:13 PM (TtpVP)
Posted by: Martin Tell at September 21, 2022 05:15 PM (omW/d)
Posted by: Ferd Berfall at September 21, 2022 05:08 PM (eRS2I)
My records burned up so I doubt they know I exist, not that they are interested in broken down old men.
Posted by: Javems at September 21, 2022 05:17 PM (AmoqO)
Posted by: joey biden at September 21, 2022 05:19 PM (yikp0)
Posted by: Anatoly Dyatlov at September 21, 2022 04:54 PM (4I/2K)
Guerilla nuke warfare = Monkey Roentgen
Posted by: Quilter's Irish Death at September 21, 2022 05:24 PM (OgrpQ)
Following W. was TFG who couldn't spend fast enough to deliver equity and fairness good and hard to every American who he hated with the fury of a nova. But because the first black president must be a success even though he was a fucking moron, the Fed dropped rates through the floor and helped set the stage for cheap, endless money.
Then we had Trump who absolutely spent through to the moon in his limited time. So now we've had 20 years of profligate, endless spending, and bills upon bills that are simply added to the bottom line so that money is constantly spent every year. Combined with near-zero rates, the disaster was always coming. The only question was when.
Posted by: Mr. Fabulist at September 21, 2022 05:31 PM (oK/V2)
Posted by: Mr. Fabulist at September 21, 2022 05:31 PM (oK/V2)
Maybe, you know, you outta get a doctor to look at that.
Posted by: Inspector Kemp at September 21, 2022 05:45 PM (+DS2f)
Posted by: Lars Pilsen at September 21, 2022 06:49 PM (kJH1Z)
I don't know, save up and pay cash, maybe?
Endless cheap credit is what got us into this position, more of it won't get us out of it.
Posted by: Unknownsailor at September 21, 2022 07:45 PM (emYfK)
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Posted by: Alberta Clayton at September 22, 2022 12:33 PM (4VYMZ)
Posted by: joker 388 at October 20, 2022 11:28 PM (jeaF3)
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