Privatize the gains and socialize the losses. This is how a Fascist/Crony Capitalist system works. Don't for a moment confuse this with Capitalism. Those that do are card-carrying economic illiterates. Best stay clear of those miscreants :-)
I think its safe to say we all agree inflation is a bad thing for those of us that aren't the first recipients of the newly printed currency. Think Cantillion Effect. 100%, 20%, 2%, its all bad for our economic well being. Here in the U.S. we have a Central Bank, the Federal Reserve, who have instituted a policy of inflation. The magic number they've come up with is 2%. The Federal Reserve in conjunction with the U.S. government work in tandem to purposely obfuscate the actual rate of inflation. So a group of unelected apparatchiks/bureaucrats have been allowed to institutionalize their system of counterfeiting/graft on savers and the productive class without any repercussions what so ever. This is no new phenomenon, the Federal Reserve was created back in 1913. How and why does a so called free society put up with this institutionalized graft? I think the answer is fairly clear; economic illiteracy. In the western world we're taught Keynesian Economics. Keynesian Economics is "the world is flat" version of economics. As a result, economically illiterate PHD's shouldn't come as a surprise. Folks there's a reason why the Austrian School of Economics is demonized in western society. They don't want you interrupting their institutionalized system of graft. Economic literacy would kill their system immediately. Here's another thought exercise that will have you question their system. So where did the economic illiterates come up with their 2% inflation target you ask? It just so happens that on average the world's gold stock increases by 2% each year. Coincidence; I think not. Got Gold :-)
What is somewhat amusing is the fact is that we can take none of our "valuables" with us. And it is proven beyond a doubt that we will all pass from this existence with nothing but high hopes. If you stop and think about it, maybe it is just older folks, because as I get older my vision improves. The laugh is on the elites who think they will achieve immortality so they gather all the toys they can. This is when i know for sure, God does have a sense of humor and we see it more every day. Just sayin'
One of best article I have read..so thanks Bill and Joel. Well written and factual. 08 is still a big memory for me. It seems it's the same agenda and same rhetoric. I don't see a bright future in the near term, no matter who's President. The Feds never learn and we pay the price.
I have been hanging around the Bonner Enterprise and its various iterations for a long time, and the line about the future only happening, because the elite aren't on the ball enough to stop it is probably the best line he ever wrote, though there have been many great ones. Bill Bonner will never be accorded the mainstream cultural and social acclaim due him, simply because he chose the field of "money" in which to advance. There is no "beat" more short-sighted and suffering from tunnel-vision than "money", because those hung up on money can't see what truly matters. Unfortunately, money is as necessary to "enlightened" mankind as the air it breathes, the water it drinks, and the food it consumes. If ever there were an observation to justify the piddling subscription fee and the investment of one's time to read Mr. Bonner's written word, worthy of canonization, this one were it. I thank Providence, that, even at this late date, I am here to receive it. Best always. PM
The great debate engendered by Bonner's timeless and wonderfully accurate "inflate or die" proposition is illuminating: no one "wants" to die, so the remark contains the answer to what will happen. I'm 70. In my time here on Earth, as a once-proud (yes I bought our hype) citizen of these nominally united supposed "states", I have experienced nothing but inflation. It's what we know; it's our "normal", that and government lies ( a redundancy). Letting the situation self-correct, even partially, via the "market" is out of the question on account of the shock and resultant chaos of an uncontrolled event, crash, correction, whatever. We will choose and die from inflation, because that is all we know, and it's "safe". The "government" knows we are comfort-seeking beings. Choose your demise: a sudden, cataclysmic, relatively painless, get-it-over-with end or a prolonged, drawn-out, "manageable" decline into oblivion. (as for) Me? I would go out on my feet, but that's just my view. Best always. PM
And yet, despite all the efforts of the elite, the future is going to arrive. And probably it will arrive suddenly and catastrophically, rather than gradually and helpfully, as it would have done left to its own nature. But the house of cards they have erected will not last forever.
There is a school of thought that there are puppet masters, who manage to control anyone in authority or those that must deliver, the strategic actions to achieve puppet master goals and objectives.
Has it not been the nature of progressively more ‘civilised’ mankind, to become more advanced technologically and yet more and more distinctly coerced, manipulated and individually controlled, like white mice in cages or on treadmills of multiple types.
From modern era slavery to despots in control, history is repeating itself.
Even bankers and billionaires get caught when there is an earthquake.
That we are getting more and more adept to play with economic debits and credits, mind bending media distortions, technologies that think and can act like we do, we become more of an unnecessary animal that is of lesser value.
The puppet masters are maybe getting close to Check Mate for this eras game.
Oh well, the puppet masters will try and reset all the pieces back up for a new game, always assuming the board has not been destroyed and revised rules of play from AI are such that Check Mate is defunct and their cannot be winners or losers.
The difficulty in watching/anticipating this decline is the speed of it. We see what's coming, but the wait, like waiting for a major surgery, is the hard part. It feels like years of opportunity are going by -FOMO. This is a very slow motion train wreck.
The future is only allowed to happen at all because the elite don’t see it coming.
Insightful.
Privatize the gains and socialize the losses. This is how a Fascist/Crony Capitalist system works. Don't for a moment confuse this with Capitalism. Those that do are card-carrying economic illiterates. Best stay clear of those miscreants :-)
I think its safe to say we all agree inflation is a bad thing for those of us that aren't the first recipients of the newly printed currency. Think Cantillion Effect. 100%, 20%, 2%, its all bad for our economic well being. Here in the U.S. we have a Central Bank, the Federal Reserve, who have instituted a policy of inflation. The magic number they've come up with is 2%. The Federal Reserve in conjunction with the U.S. government work in tandem to purposely obfuscate the actual rate of inflation. So a group of unelected apparatchiks/bureaucrats have been allowed to institutionalize their system of counterfeiting/graft on savers and the productive class without any repercussions what so ever. This is no new phenomenon, the Federal Reserve was created back in 1913. How and why does a so called free society put up with this institutionalized graft? I think the answer is fairly clear; economic illiteracy. In the western world we're taught Keynesian Economics. Keynesian Economics is "the world is flat" version of economics. As a result, economically illiterate PHD's shouldn't come as a surprise. Folks there's a reason why the Austrian School of Economics is demonized in western society. They don't want you interrupting their institutionalized system of graft. Economic literacy would kill their system immediately. Here's another thought exercise that will have you question their system. So where did the economic illiterates come up with their 2% inflation target you ask? It just so happens that on average the world's gold stock increases by 2% each year. Coincidence; I think not. Got Gold :-)
What is somewhat amusing is the fact is that we can take none of our "valuables" with us. And it is proven beyond a doubt that we will all pass from this existence with nothing but high hopes. If you stop and think about it, maybe it is just older folks, because as I get older my vision improves. The laugh is on the elites who think they will achieve immortality so they gather all the toys they can. This is when i know for sure, God does have a sense of humor and we see it more every day. Just sayin'
One of best article I have read..so thanks Bill and Joel. Well written and factual. 08 is still a big memory for me. It seems it's the same agenda and same rhetoric. I don't see a bright future in the near term, no matter who's President. The Feds never learn and we pay the price.
I have been hanging around the Bonner Enterprise and its various iterations for a long time, and the line about the future only happening, because the elite aren't on the ball enough to stop it is probably the best line he ever wrote, though there have been many great ones. Bill Bonner will never be accorded the mainstream cultural and social acclaim due him, simply because he chose the field of "money" in which to advance. There is no "beat" more short-sighted and suffering from tunnel-vision than "money", because those hung up on money can't see what truly matters. Unfortunately, money is as necessary to "enlightened" mankind as the air it breathes, the water it drinks, and the food it consumes. If ever there were an observation to justify the piddling subscription fee and the investment of one's time to read Mr. Bonner's written word, worthy of canonization, this one were it. I thank Providence, that, even at this late date, I am here to receive it. Best always. PM
The great debate engendered by Bonner's timeless and wonderfully accurate "inflate or die" proposition is illuminating: no one "wants" to die, so the remark contains the answer to what will happen. I'm 70. In my time here on Earth, as a once-proud (yes I bought our hype) citizen of these nominally united supposed "states", I have experienced nothing but inflation. It's what we know; it's our "normal", that and government lies ( a redundancy). Letting the situation self-correct, even partially, via the "market" is out of the question on account of the shock and resultant chaos of an uncontrolled event, crash, correction, whatever. We will choose and die from inflation, because that is all we know, and it's "safe". The "government" knows we are comfort-seeking beings. Choose your demise: a sudden, cataclysmic, relatively painless, get-it-over-with end or a prolonged, drawn-out, "manageable" decline into oblivion. (as for) Me? I would go out on my feet, but that's just my view. Best always. PM
And yet, despite all the efforts of the elite, the future is going to arrive. And probably it will arrive suddenly and catastrophically, rather than gradually and helpfully, as it would have done left to its own nature. But the house of cards they have erected will not last forever.
There is a school of thought that there are puppet masters, who manage to control anyone in authority or those that must deliver, the strategic actions to achieve puppet master goals and objectives.
Has it not been the nature of progressively more ‘civilised’ mankind, to become more advanced technologically and yet more and more distinctly coerced, manipulated and individually controlled, like white mice in cages or on treadmills of multiple types.
From modern era slavery to despots in control, history is repeating itself.
Even bankers and billionaires get caught when there is an earthquake.
That we are getting more and more adept to play with economic debits and credits, mind bending media distortions, technologies that think and can act like we do, we become more of an unnecessary animal that is of lesser value.
The puppet masters are maybe getting close to Check Mate for this eras game.
Oh well, the puppet masters will try and reset all the pieces back up for a new game, always assuming the board has not been destroyed and revised rules of play from AI are such that Check Mate is defunct and their cannot be winners or losers.
The difficulty in watching/anticipating this decline is the speed of it. We see what's coming, but the wait, like waiting for a major surgery, is the hard part. It feels like years of opportunity are going by -FOMO. This is a very slow motion train wreck.