All over the planet, prices are rising. Because all over the world, central banks followed the same recipe and baked the same cake.
Reaping the Whirlwind
While farm output prices have risen, farm input prices have risen even more. The Consumer Price Index in the US is rising at an 8.5% rate. But the ‘agflation’ rate — fuel, fertiliser, and animal feed — is going up at almost 30% per year.
Down the Drain
Last week, we got news that the US economy is now in reverse. It’s no longer growing; it’s shrinking, backing up. Less income, fewer sales, fewer profits, smaller salaries — the whole shebang.
The River of No Returns
There are always market leaders. Some companies stand out. Either because they have snazzy new technologies or better business models. And they seem unstoppable…indestructible.
An Elegant Symmetry
Inflation has arrived. And the beginning of a recession. And as we saw earlier in the week, the techy high-flyers that did ride so high…doth dismount
Bums at the Fed
Add money to an economy and you give it a temporary, and illusory, boost. Take it away, and what happens?
Robbery and Gender Violence
We’re on our way back to Ireland…for our grandson’s first birthday. It was probably a good time to leave.
Queen of the Bubbleheads
In the space of 18 months, the Fed increased its balance sheet by US$4 trillion. And the federal government handed out trillions. Businesses, meanwhile, were closed.
A Casino for Lunatics
It’s ‘inflate or die’ time. Either the Fed continues to let the cheap money pervert the economy…or its monstrosity must die.
Follow the Loser
The Biden Administration proposed a ‘windfall profits tax’. The idea is that if something happens that allows businesses to make exceptional profits, the extra money should be taken away from them.
