CPI jumps 5% in May of 2021, fastest since 2008

Occam's Banana said:
"I don't think anyone knows whether we're going to have a recession or not, and if we do, whether it's going to be a deep one or not. It's just ... it's not knowable." -- Jerome Powell
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I think we're going to have a major depression based on the size of the bubble popping. And the size of the bubble is proportional to the amount of stimulus.

The 2008 financial crisis:

Borrowed: 5 trillion
Interest rates: 2% for 3 years
Money printed: -

The coming crisis:

Borrowed: 20 trillion
Interest rates: 0% for 10 years
Money printed: 8 trillion.

I think anyone saying otherwise is making the classic broken window fallacy. They're not looking at the economy as a whole, just whatever piece they've found that makes it look ok.
 
oyarde said:
US household wealth down 13 1/2 trillion in first three quarters of 2022. To put that in perspective , only surpassed by the great obama- biden depression/crash following the 2008/2009 crash. We are now expecting a recession in 2023 but this precedes that .
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You always seem to leave out Bush and Trump. Remember, the 2008 crash came on Bush's watch and Trump doubled the size of the govt in only 4 years.

Actually it's usually wrong to blame one party or the other for any particular economic event. The causes of most of these economic problems happen years before the problem surfaces. Mainly it's just too much spending, borrowing and printing.

Both parties suck.
 
Occam's Banana said:
51K4jEI.gif
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[MENTION=28167]Occam's Banana[/MENTION]

Video Tax

 
Car repossesion rates for low income people now exceed the 2019 plague shutdown. For more wealthy buyers the avg payment of a new car is up 26 percent since 2019. ( 718.00 per month ) .With one in six buyers exceeding 1k per month . Repossesions are expected to increase drastically going forward.Pretty sure Bush didnt cause that.LOL
 
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Occam's Banana said:
Whenever I encounter "science" as a lone word (or in a context in which it is given emphasis), I always "hear" it in that voice.
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Mind control music...you and me both.

Whenever Fauci the Fraud said "science" I heard it in that guy's voice as well.

"And the Good Dr. gets his come-uppance"
 
Occam's Banana said:
It's exactly the same thing they do when they apply the term "spending cut" to describe increased government spending on some line item, if the increase is less than a previously intended or budgeted amount.
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//

Occam's Banana said:
https://twitter.com/ScottTParkinson/status/1605237505141657600
ouujwn9.png


Hey, whattaya complainin' about, there, buddy? :confused:

If "this bill spends less than [requested]", then it's a spending cut!

Surely, you're not opposed to spending cuts, are you? Of course not ...

:rolleyes:
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Occam's Banana said:
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I hate when people quote CBO estimates. They're a complete joke. They're consistently off by orders of magnitude. For example back in the late 1990s the CBO projected we were going to pay off the national debt in a few years. By 2008 the debt hit 10 trillion.
 
in 2000 the debt was only 5.3 trillion .Almost 31 1/2 trillion today . so just use a formula of up 450 percent or more for the next 22 years and you see where you will be.
 
156.4 billion out of markets last week . 41.9 billion from stock equities ,10 Billion from bonds , 17.2 billion from value funds , 27.8 billion from passive equities , cash holdings reduced by 59.5 billion . Some of this probably is some loss tax harvesting as it will be portrayed but not at all most. These are record numbers.Tax harvesting will only be needed for other income as the markets themselves are losers this yr . S&P down 20 percent , Nasdaq down 30 percent .Inflation still over 7 percent even once you remove last months 40 percent increase in fresh vegetables and other food increases. Retail sales down in Nov .So there is no real positive spin here. Mid Jan to June 01 ought to set the pace as we go forward. Merry Christmas , make the most of your inflationary meals !
 
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oyarde said:
156.4 billion out of markets last week . 41.9 billion from stock equities ,10 Billion from bonds , 17.2 billion from value funds , 27.8 billion from passive equities , cash holdings reduced by 59.5 billion . Some of this probably is some loss tax harvesting as it will be portrayed but not at all most. These are record numbers.Tax harvesting will only be needed for other income as the markets themselves are losers this yr . S&P down 20 percent , Nasdaq down 30 percent .Inflation still over 7 percent even once you remove last months 40 percent increase in fresh vegetables and other food increases. Retail sales down in Nov .So there is no real positive spin here. Mid Jan to June 01 ought to set the pace as we go forward. Merry Christmas , make the most of your inflationary meals !
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Yeah, I saw that. I'm wondering if that's the inflation moving from assets like stocks to common goods like groceries.
 
Ya , thats exctly what it is doing . Moving from bonds , stocks to groceries , utilities , taxes , gift cards etc
 
Swordsmyth said:
BOJ Conducts Emergency Bond Buying Operation

https://www.thefinancialtrends.com/2022/12/29/boj-conducts-emergency-bond-buying-operation/
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If you think are debt levels are bad here, look at japan and you'll feel better.

I think the only thing keeping japan from a complete hyperinflationary collapse is their culture. They'll work 80 hours a week and live in an apartment the size of a closet to survive.

That being said we probably have the second highest debt level compared to japan, especially if you use a more accurate measure like debt to revenue. I did the math a long time ago maybe 10 years ago and I think we were 3rd. Japan was 1st and I think italy or greece was 2nd and we were 3rd. By now I'm sure we're solidly in 2nd place.
 
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