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PERRIN LOVETT

~ Fiction, Freedom, and The West

PERRIN LOVETT

Tag Archives: inflation

The “Price(s)” of Globalism

30 Friday Oct 2020

Posted by perrinlovett in Legal/Political Columns

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debt, Freedom Roasters Coffee, inflation, prices, Vox Day

Vox Day had a post that complimented my JC Penney shirt index from a while back:

Note the extreme decline in income, as all big-ticket prices skyrocket. You pay two to eight times as much on half the salary. This is a deal only if you are a bankster or one of their political pets.

And, the food prices are, as you can probably gather, bargain basement. You will pay more than (and it will be worth it!) $1.05 for,

 

Weimar Amerika

15 Saturday Aug 2020

Posted by perrinlovett in Legal/Political Columns

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2028, Amerika, debt, inflation, it's over

Because that sounds better than some combination of Amerika and Zimbabwe. The debt is projected to soar beyond belief sooner than most expected.

The coronavirus pandemic pushed the government into the proverbial corner, prompting it to borrow heavily from the future to ward off a serious threat today. Without this intervention, the U.S. economy would be in a much worse recession or possibly even a depression. Even though borrowing excessively may have been the lesser of two evils, the burgeoning debt will have ramifications in the future. With the debt approaching $27 trillion, and projected to rise to $78 trillion by 2028, it will present significant challenges.

The only truth in that word salad is in the numbers. Those are precisely in line with my prediction of a $40T debt by 2024. The 2028 figure is a mere doubling over two presidential terms, which has been the pattern for decades now. The charade is over. They’re just printing until the thing blows up now. But hey, since we “owe it to ourselves,” we’re richer than Midas!

Weekend Stuff

14 Sunday Jun 2020

Posted by perrinlovett in Other Columns

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inflation, power tools, TPC

We have just a great TPC column coming next week, though I sense that the famous TPC summer fishing sign is lurking around the corner. (?????) Anyway, national affairs take a happy turn for the future, especially for the younger generations. You won’t want to miss it!

Also, why does the CPI calculator say a new cordless drill should have only increased by 40% since the last time I bought one? I paid almost exactly double for essentially the same thing. Hopefully, it lasts as long as the older model, which is still in low-power operation and rocking duct tape!

Also, also … also, somebody in the ATL will miss that Baconator or chili or potato any day now.

That’ll do. Thanks for stopping by without trying to topple my statues. P

PS: To hell with “Q.”

The Shirt Index

29 Sunday Sep 2019

Posted by perrinlovett in News and Notes

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Tags

economics, finance, inflation, JCPenney, sorcery

The WSJ has a story about what would have been, in any other age, the epitamy of economic insanity – financing sneakers and sweaters. Read that, it’s … great.

I looked for a sweater comparison, over time. The best I could (easily) come up with were men’s shirts at JCPenney.

2019:

Screenshot 2019-09-29 at 12.02.44 PM

1980:

Screenshot 2019-09-29 at 12.00.57 PM

(Regular price is still less expensive than the 2019 sale and less than 60% off the non-sale 2019 model – plus one got the disco-safari theme…)

1958:

Screenshot 2019-09-29 at 12.09.05 PM

(See where this is going?)

1928:

Screenshot 2019-09-29 at 12.10.15 PM

(That’s in cents, not dollars…)

Today, one can finance a new, regular-priced shirt for several payments, each equal to about the total cost of a 1980 shirt, which was still 15 times more expensive than the same thing fifty years earlier. “Inflation” ain’t the word anymore.

These are cheaply manufactured goods whose nominal production costs have fallen (in and of themselves) due to technology and offshoring, etc. Still, regular price to regular price, the modern equivalent is fifty times more expensive than the same thing 90 years before. Averaging the (easily) available IRS data on average incomes from 1920 and 1929, the 1928 American annual wage was about $2,200. Apples to sweaters, the average American, now, should be earning $110,000 per year. Yet, somehow the BLS reports that the true 2019 pay is only $47K, which itself seems a tad high. You’re 57% behind the price of shirts at JCP. Thank God there’s the Goodwill Store, right?

Sorcery is the gift that keeps on taking.

Cute Little Equations DO NOT Economics Make

18 Thursday Jul 2019

Posted by perrinlovett in Legal/Political Columns

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economics, employment, Federal Reserve, inflation, Keynes

A confession from the Creature:

Thursday was a Red Letter day for that old “you don’t say!” riposte. We are referring to the obvious response to Powell’s black and white confession to the Senate Banking Committee yesterday that more people working doesn’t cause inflation.

“The relationship between the slack in the economy or unemployment and inflation was a strong one 50 years ago … and has gone away,” Powell said Thursday during his testimony before the Senate Banking Committee. He added the strong tie between unemployment and inflation was broken at least 20 years ago and the relationship “has become weaker and weaker and weaker.”

Read that. Look at the graphs. Think about the parroted absurdities from ECON 101 (if such still be foisted). If you understand the hilarious implications, then you may continue as a reader here.

This Thing Called Inflation

12 Sunday Aug 2018

Posted by perrinlovett in News and Notes

≈ 1 Comment

Tags

economics, Federal Reserve, inflation, money

When you make more but have less to spend because of the increasing cost of living.

The cost of living in the U.S. is rising at its fastest rate in 10 years, according to new data from the Labor Department.

The data, released Friday, revealed that consumer prices increased 2.9 percent in July from the year before, meaning Americans may be earning less than they did at this time last year.

The consumer price index, meanwhile, rose 0.2 percent last month, which analysts largely attributed to rising housing costs, CNBC reported. Annual inflation remained unchanged from June’s pace at 2.9 percent.

If only there was some private consortium of bankers we could pin this phenomenon on, excluding food and gas, of course – no one needs those…

The U.S. central bank has raised rates twice this year, in March and June, and financial markets overwhelmingly expect a hike at the next policy meeting in September.

The Fed currently forecasts a total of four rate rises in 2018, with investors expecting a final nudge upwards of the year in the benchmark overnight lending rate in December.

Ah, well, they know best.

Economic Rocket Science

12 Tuesday Jun 2018

Posted by perrinlovett in Legal/Political Columns, News and Notes

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banksters, economics, inflation, math, money, space, stupidity

It usually isn’t on display in the economic/business news. For instance, does anyone of any measurable intelligence really believe making every person on the planet a billionaire would change anything?

The world’s first trillionaire won’t come from cryptocurrency or some clever new app – he or she will become rich from asteroid mining.

That’s what bankers Goldman Sachs reckon, anyway – and several companies are now vying to be the first into space.

NASA estimates that the total value of asteroids out there could be up to $700 quintillion – equivalent to £75 billion each for us here on Earth.

That is the equivalent of saying a wolf told you that a fox was hungry and thus every chicken would be happier.

The asteroid mining idea is real and will happen – but not with every single body orbiting the Sun. Someone will likely become extremely wealthy as a result. If The Goldman Sachs has its way, then that someone will be in some way directly related to Goldman Sachs. (And why switch dollars to pounds in the same sentence?)

If the real obtainable value of the celestial rocks really is $700 quintillion, then expect Goldman, the Fed, and Mordor to arrange future loans in the septillion range, with derivatives betting on the order of decillions. Gresham’s Law dictates they would still find a way to kill positive growth with funny money.

The zeros behind the $ or the £ mean nothing. That’s why, even if one distributed the actual cash value of the space debris to each and every person on Earth, turning everyone into billionaires, nothing would change. Zimbabwe is replete with billionaires – who can’t afford lunch.

In his defense, Rob Waugh is an excellent jack-of-all-trades journalist; maybe economics just isn’t one of them. However, that should be (should be) a specialty over at Bloomberg, where they supposedly push business news.

Yet, they seem surprised we have inflation in America and that that cuts into wages.

U.S. inflation accelerated in May to the fastest pace in more than six years, reinforcing the Federal Reserve’s outlook for gradual interest-rate hikes while eroding wage gains that remain relatively tepid despite an 18-year low in unemployment.

The consumer price index rose 0.2 percent from the previous month and 2.8 percent from a year earlier, matching estimates, a Labor Department report showed Tuesday. The annual gain was the biggest since February 2012 and follows a 2.5 percent increase in April. Excluding food and energy, the core gauge was up 0.2 percent from the prior month and 2.2 percent from May 2017, also matching the median estimates of economists.

Fed. Fed. Fed. Fed. Rates. Rates. Rates. In Bloomberg’s defense, they are actually in the business of promoting certain interests, like those of Goldman.

The narrative works something like this: The economy is great, never stronger. Unemployment is low, officially. Wages are rising. Inflation is low. Oops, for completely unforeseen reasons, likely related to gas prices, it reared its ugly head. Time to raise rates on the flood of fiat. Sally School teacher in Iowa sees her recent raise evaporate. But that doesn’t matter; Goldman is mining the Moon or something.

They leave out: That all the money, almost all of it, is fake, based on debts that cannot be repaid. Everything in the economy depends on said fake money (it’s like mixing in helium for a dive – a little boosts depth range, too much kills). Wages are always one of the last things to “catch up” after a correction – only just in time for the next correction. Real wage buying power (how much the pay is really worth) only this year returned to levels last seen in 1973. 45 years of loss, and the new, temporary gains are now squashed by inflation.

It’s almost like we’ve entered into a terminal phase wherein the wages will not, cannot recover. Workers and earners see their purchasing power decline to ancient levels, their standards of living plunge toward serf-like proximity.

When this all hits the fan the next time around, it may hail the curtain call for the banksters. That would be the good news.

TO GO WITH STORY "SPACE-JAPAN-AUSTRALIA-

Maybe there’s a way to relocate the banksters and their political pets to the heavens? Metro/UK.

Happy Veterans’ Day 2017

11 Saturday Nov 2017

Posted by perrinlovett in Legal/Political Columns

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Tags

football, government, inflation, murder, Veterans Day

Hello all veterans and others!

Consider this the Saturday football halftime report. They got a game in Starkville right now.

Anyway, I couldn’t decide on a topic so here are two:

Three Men, One Cause, Multiple Suspicions

On May 22, 1949, former Secretary of Defense James Forrestal fell to his death from the sixteenth floor of the Naval Medical Center in Bethesda. An investigation by a Navy review board found no definitive cause for his death, which was assumed by many to be suicide.

On May 2, 1957, Senator Joseph McCarthy died from acute hepatitis at the Bethesda hospital. Just a few days earlier, he’d been admitted to the hospital with a knee injury. No cause for the hepatitis was ever given. No autopsy was conducted.

On November 22, 1963, President John F. Kennedy was assassinated while visiting Dallas, Texas. An autopsy conducted at the Bethesda Naval Medical Center late that evening resulted in controversy over the extent of the president’s wounds and how they ultimately were caused. The wounds viewed by many eyewitnesses in Dallas and Bethesda weren’t reflected in the final Warren Commission report.

Inflation, the Government Gift that Never Gives…

Inflation is not caused by the butcher, the baker, or the auto maker, although they usually get blamed. On the contrary, by producing real wealth, they fight the effects of inflation. Inflation is the work of government alone, since government alone controls the creation of currency.

In a true free-market society, the only way a person or organization can legitimately obtain wealth is through production. “Making money” is no different from “creating wealth,” and money is nothing but a certificate of production. In our world, however, the government can create currency at trivial cost, and spend it at full value in the marketplace. If taxation is the expropriation of wealth by force, then inflation is its expropriation by fraud.

To inflate, a government needs complete control of a country’s legal money. This has the widest possible implications, since money is much more than just a medium of exchange. Money is the means by which all other material goods are valued. It represents, in an objective way, the hours of one’s life spent in acquiring it. And if enough money allows one to live life as one wishes, it represents freedom as well. It represents all the good things one hopes to have, do, and provide for others. Money is life concentrated.

There. No time for a pic. Gotta drink. Night. – P

There is No Bubble

04 Saturday Nov 2017

Posted by perrinlovett in Other Columns

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Tags

economics, football, inflation

Ignore the debts, the spending, and the funny money. Ignore this chart of adjusted U.S. inflation from 1665 to the near present (especially the period after 1913).

US_inflation-300x272

Egon von Greyerz, Gold Switzerland.

Now, back to the football – for once I’m serious about that.

No Such Thing as a Free Lunch

25 Thursday May 2017

Posted by perrinlovett in News and Notes

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banksters, economics, economy, fraud, future, inflation, Mark Zuckerberg

Why not go ahead and make everyone billionaires? Worked so well in Rhodesia Zimbabwe Inflation-Land, Africa.

Suckerberg…

Facebook CEO Mark Zuckerberg called on the need to consider universal basic income for Americans during his Harvard Commencement Speech.

Zuckerberg’s comments reflect those of other Silicon Valley bigwigs, including Sam Altman, the president of venture capital firm Y Combinator.

“Every generation expands its definition of equality. Now it’s time for our generation to define a new social contract,” Zuckerberg said during his speech. “We should have a society that measures progress not by economic metrics like GDP but by how many of us have a role we find meaningful. We should explore ideas like universal basic income to make sure everyone has a cushion to try new ideas.”

Zuckerberg said that, because he knew he had a safety net if projects like Facebook had failed, he was confident enough to continue on without fear of failing. Others, he said, such as children who need to support households instead of poking away on computers learning how to code, don’t have the foundation Zuckerberg had. Universal basic income would provide that sort of cushion, Zuckerberg argued.

“I’m from Farcebook and I’m here to help.”

Here’s a new idea: read Mises or something, Mark. Your Fed buddies and those idiots in D.C. could enrich everyone beyond belief in a few minutes. Safety nets entangle.

art.50.billion.zimbabwe.afp.gi

One helluva cushion! Good for TP or fire starter! AFP / Getty / CNN.

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