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PERRIN LOVETT

~ Deo Vindice

PERRIN LOVETT

Tag Archives: money

COLUMN: Nibble, Nibble, Like A Mouse

01 Wednesday Jun 2022

Posted by perrinlovett in Other Columns

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economics, Janet Yellen, money, witches

Nibble, Nibble, Like A Mouse

 

The headline of a recent article at Bloomberg, by Alex Tanzi, caught my eye: “One-Third of Americans Making $250,000 Live Paycheck-to-Paycheck, Survey Finds.” The author likely intended a little shock value. However, my reaction was, “yes, of course!” Allow me to explain (again).

“Thou shalt not suffer a witch to live.” (Exodus 22:18). Thou damned sure shouldn’t suffer one in charge of thy economy. Alas, thou hath done that, and worse.

Janet Yellen is the current, putative Secretary of the Treasury. She was formerly the head of the Federal Reserve. She has a Ph.D. in economics from Yale. She is possessed of that most-mythical “high” 115 average IQ. Ever channeling the wisdom of Keynes and the spirit of Baal, she has haunted the monetary world for over forty years. Accordingly, she is as fucking wicked and stupid as they come. 

Who knew that pumping, what, twenty trillion dollars into an already flooded money supply could possibly lead to more inflation? Certainly not a putative Treasury Secretary. It’s like adding wood to the fire and not expecting to roast small children. “Opps, y’all. Wrong path. My bad!”

Yes, I know. She’s but the latest in a never-ending line of alleged experts who somehow manage to get everything wrong, shrug, screw things up even more, and then ride off leaving the rest of us to dodge the debris. She’s just the only one that my sources tell me lives in a gingerbread house in the dark woods – a matter I cannot independently verify.

Herein, I’m about to repeat some economic comparatives, mostly from memory and based on mental estimates, that I’ve been reciting for years now. Sources? If you can’t trust me or do your own research, then consult the archives at this blog, my TPC columns, FP columns, and PPN episodes. If that’s not good enough, then just follow a white bird deeper into the forest. 

I will give you this:

(US Debt Clock, 6/1/22. It’s worse now).

The first number, from left to right, is speculative. The second is highly speculative. The third is essentially science fiction fantasy. The Treasury Dollars figure is the only “lawful” money in the economy. Theoretically, it might be kind of backed by gold or something more than mere lies and threats; almost all of it is off-limits to the sheep. M2 is a play-pretend accounting of the Fed’s fiat to include that colorful paper in the wallet. The Derivatives+ sum is a wild guess at the total (fake) value of all the loans, bets, hedges, and voodoo swirling around the whole economy. This is the fulfillment of Gresham’s Law. The slightest adjustment, possible under multiple scenarios, places the ratio of real money to nonexistent fantasy money at around 1:1,000,000. Statistically, there is zero money. Thus, as I keep writing, there is no money in the economy. This is the end result of over a century of mass financialization, of rebuilding the economy and money supply completely on fake debt. It has driven all real value into the hands of a tiny, elite group of evil criminals. And it has left even those of the ordinary masses earning a quarter-million (fake) dollars per year living “paycheck-to-paycheck.” As with the schools, the shootings, the demographics, and the false flags, this is what you get.

Seventy years ago, which something tells me was 1952, the average wage in the old US was approximately 75% of the cost of the average house in the old US. Both numbers were, then, well under $10,000. The average wage was calculated from all occupations – executives, firemen, teachers, carpenters, farmers, lawyers, etc. It typically represented the work of the sole breadwinner in a household, generally the husband. Since 1952, all prices have increased. However, wages have lagged waaaaaaaaay the hell behind the rest. 

Today, household income accounts for all parties within the household who are working. That may mean a total of two jobs. Or four. Or more. Boomer, this is why your dad’s factory job more than provided for you and your three siblings and why your only son and his partner can’t afford to live or give you grandchildren even as they work two “good” jobs each. 

Assuming inflation as it actually happened, but also assuming that average wages had kept pace with the cost of the average house, then the current average wage would be around $300,000 per year. On average. For all occupations. With one income earner. Interestingly enough, the wage increase would be roughly the same, allowing for actual, as-it-happened inflation, had the dollar remained tethered to a gold-silver standard. Funny, no? No. But dead serious. So it is that those making $250,000 a year are on the low side of average. Their barely getting by isn’t hard to fathom with the correct math. 

In sad, modern reality, most Americans are lucky to bring home one-tenth of what they should earn. I read somewhere recently that Massachusetts has the highest average income, on the order of $75,000 per year. That, honestly adjusted out, is about what minimum wage should average across the country. Of course, in a more expensive place like Mass, the national average would be comparatively low. 

The terrible thing is that my afore-referenced accounting is based on pre-2020 information. Thanks to Yellen, Brandon, Orange Man, and the rest of the gang, elected and selected, things are getting even worse. How much worse? We’re finding out, now, and we will keep finding out. Hang on to something.

As bad as things are, and have been, most people still either don’t get it, don’t care to understand it, or simply refuse to acknowledge reality. I figure that once the booze, the dope, and the TeeVee are interrupted for more than a day or three, things will heat up. Dramatically. Time will tell.

What’s the solution? “FIRE!” immediately jumped into my mind. But there’s another single word that would, if applied, start to do wonders. One will find that word (starts with a “J”) repeated several times in a row in the book after Exodus in that old Bible no one likes to read or believe in anymore. Or, of course, we could just lay down a trail of breadcrumbs, hope for the best, and keep trusting the cackling, cannibalistic experts who forged this predicament. For the short time being, I think I know the people’s choice of inaction.

Either way, any way, I trust the good reader is prepared.

They Needed An Investigation?

08 Sunday Nov 2020

Posted by perrinlovett in Legal/Political Columns

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Tags

fraud, hoax, money, PPP

Everything that comes out of DC is a fraud.

Congress and the Trump administration designed the PPP to give small businesses fast and easy access to taxpayer funds, and it worked: About $525 billion in loans were distributed to 5.2 million companies between April 3 and Aug. 8. Many business owners say it was a lifeline in turbulent times.

But evidence is growing that many others took advantage of the program’s open-door design. Banks and the government allowed companies to self-certify that they needed the funds, with little vetting.

The Small Business Administration’s inspector general, an arm of the agency that administers the PPP, said last month there were “strong indicators of widespread potential abuse and fraud in the PPP.”

No kidding! A fraudulent program based on a fraudulent hoax based on a fraudulent economy just might result in more cookie jar looting. I could have told them that. in fact, I think I did. I’ll have something to say about this, this week sometime, at the FP news.

And on an unrelated note, I’m not sure where all the traffic is coming from lately, but thank you! This week has seen more visitors than the monthly average for much of the year. Carry on, good readers, carry on.

The Ads Are Back

28 Monday Sep 2020

Posted by perrinlovett in News and Notes

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Tags

Ads, blog, money

Yes, I’ve seen them in posts and along the right PC sidebar. This is not me, it’s WordPress – a testament to traffic returning to previous levels in spite of my ban on anti-social media madness. It’s really quite the compliment. Of course, as soon as you kindly increase donation and/or purchase amounts to the sufficient point, I will convert the site to a higher, more expensive platform level. Based on long-past fundraising efforts here … enjoy your ads.

*At some point, hopefully, the site will convert over to a fiction-based author sales site with an included multi-subject blog. The promise of the future…

**Thank you for the increased visitation. Quality will improve tomorrow.

***Any political ads or ads not in keeping with my house themes are automatically disclaimed.

Defund the Skoolz

08 Wednesday Jul 2020

Posted by perrinlovett in Legal/Political Columns, Other Columns

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education, hoax, money, schools, Trump

For months this year, Amerika’s youth have had a needed reprieve from the hell that is their government-dulled “education.” Sadly, many (most) parents tire of pseudo-homeschooling and are so happy about the idea of shipping off the kids they don’t enjoy raising. And, what do the skoolz have to offer now? 2 + 2 = Racist!

A Black Lives Matter-supporting teacher took to Twitter to assert that 2+2 only = 4 because of “western imperialism.”

Yes, really.

Brittany Marshall’s tweet went viral after she claimed during the course of a discussion about racism, “Nope the idea of 2 + 2 equaling 4 is cultural and because of western imperialism/colonization, we think of it as the only way of knowing.”

Marshall, who includes her pronouns in her bio, lists her occupation as “teacher, scholar, social justice change agent” and apparently is studying for a PhD at Rutgers.

Yes, really. Amerika’s skoolz are ruined from kindergarten to grad skool. Though this woman(??) lists her “pronouns,” she probably doesn’t know what pronouns are – aside from being vestiges of colonialism or something.

Yet and still, like the dim-witted parents, the dim-witted Orange Man says it’s time for skoolz again!

President Donald Trump ramped up his pressure campaign to get public schools to fully reopen amid the coronavirus pandemic, tweeting Wednesday that he may withhold federal funding from schools that do not resume in-person classes this fall.

The tweet was the latest step in an administration-wide effort to convince schools nationwide that the risks of not reopening for in-person classes outweigh those posed by the coronavirus pandemic, which has reached new record levels across the country in recent weeks.

Wait a minute! Tweety Bird has a point, there. Cut all of the funding to all of the schools. Then, make it a felony to operate them. Make Let Kids Learn Again!

All Gassed Up

30 Monday Mar 2020

Posted by perrinlovett in News and Notes

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Tags

economy, gas, money

With nowhere to go.

It’s a little ironic: gas is the cheapest we’ve seen since almost the end of the previous century, and yet we have no place worth driving to.

U.S. crude prices fell to their lowest level since 2002, briefly dropping below $20 a barrel, as investors grew more pessimistic about oil demand.

West Texas Intermediate futures, the main U.S. crude gauge, were down 6.5% at $20.11 a barrel after hitting their lowest level since February 2002 on Monday. Brent crude, the global benchmark, fell 6.4% to $26.18 a barrel.

The taxes are up, but by the old metrics, going below $20 per barrel should yield gas under $1. I’ve seen it, where I am, for around $1.60. I’ve heard it’s $1.30 elsewhere. It’s gonna be like 1995 again! Minus the functioning society.

You’re Too Big To Fail

16 Monday Mar 2020

Posted by perrinlovett in Legal/Political Columns

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Tags

America, Economic collapse, economics, Federal Reserve, insanity, money, terminal decline

Hey! You’re about to get paid a little – just a tiny bit – of that bankster graft!

What’s happening: A growing chorus of liberal and conservative economists are lining up behind a proposal published in the Wall Street Journal by Harvard professor Jason Furman, who chaired the Council of Economic Advisers (CEA) under President Obama, that calls for direct government payments to households.

What it means: Furman proposes Congress pass a “one-time payment of $1,000 to every adult who is a U.S. citizen or a taxpaying U.S. resident, and $500 to every child who meets the same criteria.”

He adds that the law “should also specify that the payments would continue in 2021 and beyond if the unemployment rate rises to 5.5% and remains there or higher. Hopefully this will not happen, but if it does, the money will be needed.”

What it REALLY means: America is DONE.

When Money is Tight

12 Wednesday Feb 2020

Posted by perrinlovett in News and Notes

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cash, economics, good times, money, recession

It’s their fault, the millions of Amerikans who chose to be something other than central or commercial banksters. Now, 1/3rd of them complain about the choices they made.

About 31% of respondents earning over $100,000 also regularly experience a budget shortfall before payday.

Kids, go to banking school. It’s as simple as that. Those at the head of the through get more of the slop. The rest, $100Kers included, get priced out for their hard work. The article mentions educational expenses, so let’s compare those to a $100k income. The web says that the average in-state college tuition today is about $10,200. A generation ago, it was one-quarter of that price. Now, $100K today is about the same as $56,000 back then. A doubling versus a quadrupling. Again, it’s not that hard – be a bankster. That, or continue to buy used food and toilet paper. The Republicrats will be all over this issue by October.

The Face of Evil Tipped Really Well

21 Sunday Jul 2019

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

≈ 2 Comments

Tags

crime, Epstein, evil, money

Thus, nobody did a damned thing about the obvious crimes.

Another employee at the airstrip, who requested anonymity because he is not allowed to speak about travelers in his official capacity, says Epstein would land at St. Thomas twice a month on average. “There’d be girls that look like they could be in high school,” the employee recalls. “They looked very young. They were always wearing college sweatshirts. It seemed like camouflage, that’s the best way to put it.” Epstein would be dressed in a tracksuit, but the girls carried shopping bags from designer labels: Gucci, Dior.

The employee adds that he and his co-workers would joke around about what they were seeing. “Every time he landed or took off, it was always brought up. We’d always be joking, ‘How many kids are on board this time?’” But the employee also says he felt “pure disgust,” calling it “absolutely insane” that a convicted sex offender was able to move around so openly in the era of MeToo.

“I could see him with my own eyes,” the employee says. “I compared it to seeing a serial killer in broad daylight. I called it the face of evil.”

Epstein apparently made no attempt to hide his travels with young girls. The airstrip in St. Thomas sits in plain sight of a central highway, and a nearby parking lot at the University of the Virgin Islands provides a complete view of the tarmac and almost every aircraft on the ground. When he’s “home” on Little St. James, Epstein’s plane is always parked right in front of the control tower.

“The fact that young girls were getting out of his helicopter and getting into his plane, it was like he was flaunting it,” the employee says. “But it was said that he always tipped really well, so everyone overlooked it.”

I’m thinking a control tower would have offered a nice, clear shot…

HHS Burn$ It Up

10 Wednesday Jul 2019

Posted by perrinlovett in Legal/Political Columns

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Tags

budget, Federal government, HHS, mind blown, money

The ONE Single Federal Department is spending $100 Billion PER MONTH.

In the first eight months of this fiscal year, which began in October, HHS spent $834,346,000,000, according to the Monthly Treasury Statement for May. That is up from $731,724,000,000 in the first eight months of last fiscal year.

Through all of fiscal 2018, HHS spent approximately $1,120,500,000,000 — or $93,375,000,000 per month.

Through this full fiscal year, according to the estimate published in the Monthly Treasury Statement, HHS will spend approximately $1,230,273,000,000 — or $102,522,750,000 per month.

In May alone, according to the Monthly Treasury Statement, HHS spent $146,552,000,000.

This one great reason why the FedGov rockets towards fiscal insolvency – not that they’re not technically there now, nor that any of this really matters anymore. But once upon a time, it did. For perspective, consider that HHS, which didn’t exist until 1979 and had no predecessor agency before 1939, now spends more every month than the entire government spent during the whole year of 1961. Yearly total federal spending wouldn’t reach monthly HHS levels until 1990. And, that was but a fourth as much as they spend in total now; soon to be but a fifth.*

The slope was slippery, the descent rapid.

*For reference: the craziest spreadsheet in the world. Yes, math fans, the sum of all federal outlays for the first 60 years of the Nation’s history, are a mere 1% (or about 8 HOURS worth) of HHS’s current monthly spending.

Priced Out

05 Friday Apr 2019

Posted by perrinlovett in News and Notes

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Tags

averages, debt, economics, economy, money, prices, real estate

Numbers don’t lie.  Politicians and economists do.

There (before the last housing bubble) was this rule of thumb: hypothetical folks could afford (via debt instruments) a house costing approximately three times their annual income. Applying that rule in 2019 works like this: $63,000 per year income X 3 = $189,000 home price (with zero down and no costs, etc.). The $63,000 is the average American household income. Therefore, through the magic of usurious multiplication, the average American family should be able to purchase a $189K home.

It doesn’t work out quite that way sometimes. Other debts and expenses eat away at the equation. But, by the old rule, and with a little money down (or some extra financial tricks), Ma and Pa ‘Murica should hypothetically be able to buy the average All-American home for around $200,000. Except, they can’t do that.

Even if all the tricks are in play, it all falls apart because the average US house now sells for $300,000.

The median asking price for a U.S. home hit $300,000 for the first time ever in March, according to housing data from Realtor.com to be released later Thursday and provided early to USA TODAY. That topped the previous peak of $299,000 reached in June and July of last year.

Is there a new 5X rule? It would fit with the new average waistline anyway. But, no. People are just being priced out of the average. That’s now, during the boom to end all booms. If and when prices fall, look for incomes to do the same.

We definitely need more foreign wage competitors in the USE. More financialization too. More politicians and economists.

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