I'll never forget the feeling I had after finishing Human Action the first time. "Holy Shit" doesn't do that initial feeling justice. Mises completely obliterated central planning, monetary intervention, and Socialism. It wasn't even a contest. Yes, central planning, monetary intervention, and Socialism are still with us, but its not because they add value to society. They're still with us because they're tools miscreants can use to tilt the scales in their favor. Robert Reich can't carry Ludwig Von Mises, Murray Rothbard, and Friedrich Hayek's water. Reich is just another economically illiterate statist shill. They break your legs, hand you a crutch, and tell you they fixed your problem.
I was curious what is Robert Reich's solution to inflation. Here it is:
1. Breakup the big corporations. Stop consolidation using vigorous antitrust enforcement.
2. Windfall profit taxes
3. Price controls
The heavy hand of government! The danger to us all is that Mr. Reich is a very popular and a well spoken progressive. He maintains many contacts with Democrats in Congress, has a popular Substack forum with thousands of subscribers, and runs a social media organization (Inequality Media) that produces numerous YouTube videos promoting his ideas.
Reich and Bill are in agreement in their dislike of the Fed, though for different reasons!
I'm always amazed at how straightforward and simple Bill explains the economic issues. Very logical. Hard, simple truths that can't be denied logically.
After today's (01/10/2022) close the 10 year versus 3 month inversion is (1.04%). The Federal Reserve Bank of St. Louis tracks this spread back to 01/04/1982. The prior high water inversion was (.77%) back in December of 2000. We're making history right now, just not the right kind. The yield curve has been my favorite and most accurate market timing tool for decades. I went from fearing deflation to rooting for it. Anythings possible in life, but planning for a soft landing will more than likely be a losing strategy.
USA needs to print more money. Put the printing machine on auto pilot and let it print money until the motors burn out. Then hand it out for free to anyone in this country, regardless of their status.
Oh, youโre from Venezuela? Ok pal, hereโs $10,000 grand and a nice cozy apartment rent free. And you Sir, from where? Ecuador? Jim, where the heck is Ecuador? Who cares, just give him $10,000 and another 5K for the airfare.
Sir, how do we justify printing all this free money?
Well son, think about it this way, in 1918 the world population was estimated at 1.8 billion people, today itโs estimated to be 8 billion, itโs up 3-fold. A 6 billion consumer addition to civilization. 6 billion contributions require extra cash and enormous purchasing global economic power.
The trillions and trillions of dollars that were not necessary in 1918 based on the world population are now essential to the survival of global civilization.
If the deficit was 300 million plus in the 50โs, a 500 Trillion deficit before 2025 is peanuts. So print away Mr. Fed, and forget about all the other global currencies in existence yesterday, today, and tomorrow.
"Morgan Stanleyโs Adam Jonas said he expected the stock to go to $430 by the end of the year". Maybe the guy missed putting the hundreth decimal point in his analysis.
"Morgan Stanleyโs Adam Jonas said he expected the stock to go to $430 by the end of the year". Maybe the guy missed putting the hundreth decimal point in his analysis.
I'll never forget the feeling I had after finishing Human Action the first time. "Holy Shit" doesn't do that initial feeling justice. Mises completely obliterated central planning, monetary intervention, and Socialism. It wasn't even a contest. Yes, central planning, monetary intervention, and Socialism are still with us, but its not because they add value to society. They're still with us because they're tools miscreants can use to tilt the scales in their favor. Robert Reich can't carry Ludwig Von Mises, Murray Rothbard, and Friedrich Hayek's water. Reich is just another economically illiterate statist shill. They break your legs, hand you a crutch, and tell you they fixed your problem.
https://strategic-culture.org/news/2023/01/09/us-strategic-aim-break-and-dismember-russia-or-maintain-us-dollar-hegemony-or-muddled-both/
Off topic. This guy's writing is awesome.
I was curious what is Robert Reich's solution to inflation. Here it is:
1. Breakup the big corporations. Stop consolidation using vigorous antitrust enforcement.
2. Windfall profit taxes
3. Price controls
The heavy hand of government! The danger to us all is that Mr. Reich is a very popular and a well spoken progressive. He maintains many contacts with Democrats in Congress, has a popular Substack forum with thousands of subscribers, and runs a social media organization (Inequality Media) that produces numerous YouTube videos promoting his ideas.
Reich and Bill are in agreement in their dislike of the Fed, though for different reasons!
I'm always amazed at how straightforward and simple Bill explains the economic issues. Very logical. Hard, simple truths that can't be denied logically.
After today's (01/10/2022) close the 10 year versus 3 month inversion is (1.04%). The Federal Reserve Bank of St. Louis tracks this spread back to 01/04/1982. The prior high water inversion was (.77%) back in December of 2000. We're making history right now, just not the right kind. The yield curve has been my favorite and most accurate market timing tool for decades. I went from fearing deflation to rooting for it. Anythings possible in life, but planning for a soft landing will more than likely be a losing strategy.
Wrong!
USA needs to print more money. Put the printing machine on auto pilot and let it print money until the motors burn out. Then hand it out for free to anyone in this country, regardless of their status.
Oh, youโre from Venezuela? Ok pal, hereโs $10,000 grand and a nice cozy apartment rent free. And you Sir, from where? Ecuador? Jim, where the heck is Ecuador? Who cares, just give him $10,000 and another 5K for the airfare.
Sir, how do we justify printing all this free money?
Well son, think about it this way, in 1918 the world population was estimated at 1.8 billion people, today itโs estimated to be 8 billion, itโs up 3-fold. A 6 billion consumer addition to civilization. 6 billion contributions require extra cash and enormous purchasing global economic power.
The trillions and trillions of dollars that were not necessary in 1918 based on the world population are now essential to the survival of global civilization.
If the deficit was 300 million plus in the 50โs, a 500 Trillion deficit before 2025 is peanuts. So print away Mr. Fed, and forget about all the other global currencies in existence yesterday, today, and tomorrow.
Hahahaha! ๐๐น
"Free tip: Keep a pair of shorts handy."
Joel, I assume you are talking about the swim variety rather than the financial, although I have some of both, now that I think about it.
"Morgan Stanleyโs Adam Jonas said he expected the stock to go to $430 by the end of the year". Maybe the guy missed putting the hundreth decimal point in his analysis.
"Morgan Stanleyโs Adam Jonas said he expected the stock to go to $430 by the end of the year". Maybe the guy missed putting the hundreth decimal point in his analysis.
Hilarious, if you have a macabre financial sense of humor. Got Gold & Tequila Anejoโฆ.. Dave
I stumbled across this interesting chart. Hope the link works.
https://www.emailimagecdnuyi.com/tjhzl8fqow/en_us/images/63bcc6fcbd246-1673316092.7747.png