The Biden White House rails against price gouging, Vladimir Putin, gas prices, and everything but the actual cause of inflation. It’s not hard to understand why everything costs so much more now. In fact, even a few minutes with a Milton Friedman video or book, makes the real cause of record inflation crystal clear.
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14 replies on “Worth Less: Why No One from Biden to the Media Will Admit the Real Cause of Record Inflation”
The reason they’re doing ‘everything wrong’ is simple…They’re an outlaw government determined on impoverishing the citizens, turning the system upside down an putting them selves in a special command position over us.
Got that? This is on purpose…their purpose.
Period.
(save your gold and silver)
Well, Biden said that Milton Friedman is no longer in charge. What he fails to recognize is that Mr. Friedman was never in charge, he just explained economics so all could understand. Maybe Biden should watch a few of his videos.
That said, he’s just following his marching orders for implementing the Great Reset. They have to tear down America in order to make it work and that is exactly what is happening.
Whenever I hear one of these Leftist fools talking about their economic nonsense, I ask them two questions. Q1. Have you ever taken an economics course? They normally say yes. Q2. Did you pass it? When they say yes, I tell them, “You need to DEMAND A REFULD.”
This is also the way to explain why pervert “marriage” is so terrible to a true libertine-arian (since money is all they understand). When you artificially increase the number of “marriages,” you devalue the REAL thing.
Bill, Steve, in the past you’ve talked about wrangling the asteroid PSYCHE 16 and harvesting all the precious metals supposedly found within. A quick Goo search of Phyche 16 has Fox news reporting in June of 2019 “NASA is eyeing up a nearby asteroid that contains enough gold to make everyone on Earth a billionaire”……..
In light of this discussion, would not your dream of harvesting the riches of that asteroid (without a doubt harvested by Spacex, no?) and bringing that golden metal back to earth, cause gold to be worthless? As common as tin or alumunum or nickel or even worth less, due to the sheer volume which would be dumped on the market?
Or, does the value of those space metals remain high due to the astronomical (see what I did there?) costs to go and get it and bring it back to earth…..Elon has to recoup those costs somehow.
Don’t get me wrong, it’d be an amazing feat to somehow put mining equipment down on that rock and each time it swings around on it’s orbit, pick up a pallet or two ( or twenty ) and bring it back home on a fleet of STARSHIPs!
Great discussion – and those last two examples were worth the price of admission.
What’s that you say – this video is free to all? Well then it is definitely worth that. 😉
1) I learned about the real meaning of inflation from a Howard Ruff economic newsletter in 1974. Made clear sense then, as now.
2) Scott, you know another way to remove money from the economy is to increase taxes, especially “on the rich”. The MMT folks can explain that to you if forgot that. Of course, they don’t understand that money is a store of VALUE, not just a medium of exchange.
3) Bill, please! Money is simply an “agreement” among the people using it. Dollars, Euros, Lira, Pesos, gold, silver, salt, nails, toothpicks, cigarettes, cattle, shells or beads or wampum, computer ledger entries, etc. etc. have all been agreed to be used as money. Even a relatively rare commodity such as gold is subject to corruption of the coinage, over leveraging of the bank’s gold reserves, etc. And if the supply of gold does not increase in sync with the growth of the economy, then prices denominated in gold go down. That is the only reason fiat money might still have usefulness since it can be (with difficulty) made to (sort of) track the level of economic output.
4) But the real goal of the Fed (if we have to have one) should be to maintain a stable value of the dollar. Congress should repeal the legislation that added maintaining full employment as part of the Fed’s charter. Employment is not directly related to the money supply, but to the “idea supply” for new businesses, technologies, solutions, etc. The Fed definitely cannot control that.
5) This video episode should be shown to every 6th, 8th, 10th, and 12th grade class so that the kids are not bamboozled upon graduation into rejecting the ideas behind TANSAAFL.
How about the 7th, 9th, and 11th grades?
amen
When you have a thirty trillion dollar debt, the only way to make it “right” is to make thirty trillion worth-less.
A simple way to actually ease inflation would be to invoke the Commerce Clause to actually help America instead of the isual use of it to screw us. Cancel California’s stupid forced unionization law that took so many truckers off the roads, and kill their “green” truck requirement that took so many trucks of the roads. Energy policy is simple – we had a probam that was working before january ’21, so do whatever were doing before. And kill any vax mandates and have Pfizer & Moderna’s record profits pay reparations to the businesses and people who lost their livelihoods.
And get a president who’s not a moronic dementia patient. Hey, If I’m in pipe dream home I might as well swing for the fences
One marble would be worth a fortune to Biden*, who has clearly lost his.
Thank you, thank you! I’ll be here all week and I’ll be at Ceaser’s Saturday night! Tip your bartenders!
Ha
Can’t wait for the fall to catch you in the Catskills performing LIVE with Norm Crosby and Jackie Mason!
“We’re changing people’s lives!”
That’s their priority. Economy isn’t healthy? Who cares? People can’t afford anything? Who cares? People literally dying because they ignore crime and reward criminals? Who cares?
They are “fundamentally transforming America.” They are “changing people’s lives.” That’s what’s important to them.
In their eyes, everything else is worth less.