Yes, dear reader, dead ahead is a ‘dark cluster decade’, when one crisis brings on another one. Prices shoot up. Shortages of food and fuel develop. Stocks crash. Recessions and or depressions begin. Your savings…your retirement…your investments…your job…your house — the whole shebang, is in danger.
Yesterday, the major indexes rose; the bounce continues. But it won’t save the disruptors. They’re getting disrupted anyway. Bankman is bankrupt. Carvana crashed when used car prices went back to normal. Zillow, the real estate database, was wrecked when its algorithm failed to notice mortgage rates heading back to normal. Meme stocks — like GameStop — are being un-memed. And Beyond Meat — the turkey’s great hope — is almost beyond hope.
Without the media’s non-stop propaganda, would he want to send his money to keep the war going on in Ukraine? Probably not. Would he approve of trillion-dollar US deficits and US$31 trillion of debt? Nobody asks.
We have seen that the destruction of the middle class comes about…even though it doesn’t seem to make sense. The Fed did lower rates to absurd levels, luring people into overpriced houses at underpriced mortgage rates. And then, the Fed increased rates so that millions of middle-class families would have difficulty making their mortgage payments.
Wages have been trailing inflation for 19 straight months. Diesel fuel — the stuff that powers our economy — is becoming scarce, with the average price at the pump up to US$5.35/gallon. Producer prices — as opposed to consumer prices — show a lot more inflation coming down the pike.
While the Democrats’ idea that Republicans are uniquely a menace to democracy is absurd, so is the Republicans’ idea that Biden is uniquely to blame for inflation. We remind readers that Donald Trump increased federal spending three-times faster than Barack Obama and 10-times faster than Bill Clinton.
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