It’s “Worse Than Many Can Imagine” – Kim Dotcom Fears “Controlled Demolition” Enabling A “New Dystopian Future”

https://www.nationandstate.com/2022/06/10/its-worse-than-many-can-imagine-kim-dotcom-fears-controlled-demolition-enabling-a-new-dystopian-future/?amp
It’s “Worse Than Many Can Imagine” – Kim Dotcom Fears “Controlled Demolition” Enabling A “New Dystopian Future” Authored by Alexandra Bruce via ForbiddenKnowledgeTV.net, New Zealand tech CEO, Kim Dotcom did the math on the United States’ sovereign debt and he tweeted a thread about it, saying it may the most important thread that he may ever make.…

Australian Election: Albanese threatens to unleash exactly the wages-prices spiral that would send interest rates really rocketing | The Wentworth Report

https://wentworthreport.com/2022/05/11/australian-election-albanese-threatens-to-unleash-exactly-the-wages-prices-spiral-that-would-send-interest-rates-really-rocketing/

Australian Election: Albanese threatens to unleash exactly the wages-prices spiral that would send interest rates really rocketing. By Terry McCrann.

Labor leader Anthony Albanese is threatening — is promising — to unleash exactly the wages-prices spiral that would send interest rates really rocketing higher and devastate the finances of millions of Australians. …

After loosely talking about wanting “real wage rises”, he went on to make the “obvious” promise — with inflation at 5.1 per cent, as prime minister he would push for wage rises of 5.1 per cent plus.

So, if inflation kicked up to 7 per cent, [he] would have to push for 7 per cent-plus wage rises across the entire economy.

And if inflation then kicked up to 10 per cent, he’d be demanding across-the-board 10 per cent-plus wage rises.

That’s the “easy” disastrous bit: Economic Ineptitude 101. …

Promoting 5 per cent-plus wage increases when inflation is 5 per cent, is exactly what leads on to 7 per cent inflation. Then, rinse and mindlessly repeat at 7 per cent, and you are headed for 10 per cent inflation.

That’s exactly the future that would force the Reserve Bank to raise its official cash rate not to the 2-3 per cent it currently intends, but to 5 per cent; and then 7 per cent; and indeed even to 10 per cent and potentially higher. …

Got a $600,000 loan and being hit with a $100-a-month repayment increase? How would you fancy repayments going up by $1000-1200 a month? By $3000-$3600 a month?

Do you think a 5 per cent wage and salary increase — before tax, mind you — would compensate?

That’s if you didn’t lose your job like over 10 per cent of workers did into the 1990s — and lose their jobs for years if not permanently, not months like with Covid — the last time we had a wages-prices-interest rate spiral.

It would be all thanks to a blunderingly inept PM, “supported” by equally inept deputy-PM and treasurer, who are all clueless about the economy and seemingly don’t care.

Promising wage increases to match inflation was indeed a naive and stupid thing for Mr Albanese to do. Fortunately he is now walking it back, but it shows how little he understands:

Albanese tries to walk away from latest economic blunder, by Dennis Shanahan.

Anthony Albanese is trying to walk away from his latest economic blunder by suggesting he’s not saying that Labor supported a wage rise of at least 5.1 per cent to keep pace with inflation.

The Opposition Leader, accused of being reckless and a “loose unit” on the economy, has avoided using the figure of 5.1 per cent today as have his frontbench colleagues as they go into another bout of damage control and spin after Albanese has publicly blundered.

Labor can see the damage being done and more importantly the much worse damage that will be done if Albanese’s “absolute commitment” to linking the current minimum wage case to the headline 5.1 per cent inflation rate.

After a lifetime of left wing activism, Anthony Albanese knows dangerously little about reality.

FACT CHECK: Biden blames pandemic, Vladimir Putin and Trump for inflation | ‘John Bachman Now’ | Truth2Freedom’s Blog

https://truth4freedom.wordpress.com/2022/05/10/fact-check-biden-blames-pandemic-vladimir-putin-and-trump-for-inflation-john-bachman-now/

…video…

President Joe Biden blamed the pandemic, Vladimir Putin’s war on Ukraine and Donald Trump for inflation, not spending. John Bachman and Bianca de la Garza fact-check Biden’s claims – Via Newsmax’s ‘John Bachman Now.’

Source: FACT CHECK: Biden blames pandemic, Vladimir Putin and Trump for inflation | ‘John Bachman Now’

Rising Inflation | Andelino’s Weblog

https://andelino.wordpress.com/2022/05/06/rising-inflation/

The tide is turning against the radical left as cost-of-living expenses rise.

Rising inflation rates may be uniting Americans against the Biden administration. According to a CBS News/YouGov poll from April 10, nearly 60 percent of Americans do not approve of how Joe Biden is running the country.

Exorbitant privilege of US dollars and US trade embargoes

Exorbitant privilege of US dollars and US trade embargoes

by tonytran2015.

(Melbourne, Australia).

Click here for a full, up to date ORIGINAL ARTICLE and to help fighting the stealing of readers’ traffic.

(Blog No. 3xx).

The Total Foreign Exchange Reserve of the World in Q4 of 2021 is USD12,937 billion, 58% of which is in US dollar holding, which amounts to USD7,087 billion (https://data.imf.org/?sk=E6A5F467-C14B-4AA8-9F6D-5A09EC4E62A4). The total of US dollars in circulation at that time was around USD 2,214 billion (https://www.federalreserve.gov/releases/h6/current/default.htm). If US government printed and issued an additional 220 billion would the US dollar lose 10% (= 220/2214) of its value or would it lose 2.4% (= 220/(2214+7087))? The answer is somewhere between the two values.


This is the Exorbitant privilege mentioned by Valery Giscard d’Estaing.
So Russia, China and Israel sold off their US dollars in their Exchange Reserves to reduce that privilege held by USA. Their attempts were greatly assisted by the US embargo of trades by non-friendly governments. In the end, foreign countries now share a smaller burden of US inflation due to the smaller amounts of USD kept in their Foreign Exchange Reserves.


From now on USA can expect foreign governments to gradually off-load their USD and US inflation should become higher and higher and should justly be supported more and more by its own economy.



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Biden’s economic approval rating revealed — RT World News

https://www.rt.com/news/554868-americans-distrust-leaders-economy-poll/

…Powell leads the pack, with 43% of respondents expressing confidence in
his abilities, while Biden trails at 40%, tied with Republican leaders
in Congress and two points ahead of their Democratic counterparts (38%).
Those numbers have fallen precipitously over the past year as the
inflation rate has more than doubled to its highest rate in over four
decades. Despite reassuring words from their leaders, Americans are struggling to make ends meet, with many concerned there is no end in sight to the nation’s fiscal predicament.

Oops! Our Bad! IMF Director Admits “We Printed Too Much Money”

https://www.nationandstate.com/2022/04/28/oops-our-bad-imf-director-admits-we-printed-too-much-money/?amp
Oops! Our Bad! IMF Director Admits “We Printed Too Much Money” Authored by Michael Maharrey via SchiffGold.com, Mostly we get lies, spin and obfuscation from central bankers, politicians and bureaucrats. But every once in a while, one of these people accidentally wanders into the truth. IMF Director Kristalina Georgieva did just that during a recent…

White House Blames “Putin’s Price Hike” For Biden’s Inflation Bonanza – Nwo Report

https://nworeport.me/2022/04/12/white-house-blames-putins-price-hike-for-bidens-inflation-bonanza/

The White House on Monday warned that headline inflation in March’s Consumer Price Index (CPI) report will likely be “extraordinarily elevated” as a result of what they called “Putin’s price hike.”

“We expect March CPI

Prices for SPC tinned food set to rise, impacting vulnerable people and charities – ABC News

https://www.abc.net.au/news/2022-03-16/charities-set-to-feel-the-pinch-of-tinned-food-price-hike/100913438

  • SPC’s Robert Giles says their costs have risen significantly, so they have to hike their prices
  • Albury Wodonga Regional FoodShare general manager Peter Matthews says people will struggle in April
  • He says Easter and school holidays add to the burden on families

Angry Biden Shouts, ‘I’m Sick of This Stuff,’ Lashes Out at Those Who Blame Him for Inflation | The Wentworth Report

https://wentworthreport.com/2022/03/12/angry-biden-shouts-im-sick-of-this-stuff-lashes-out-at-those-who-blame-him-for-inflation/

Angry Biden Shouts, ‘I’m Sick of This Stuff,’ Lashes Out at Those Who Blame Him for Inflation. By Robert Spencer.

See that angry old man shouting at you? That’s the President of the United States. Even in the best of times, Old Joe Biden has never been one to take responsibility for his actions, and these are not the best of times. With the economy in free fall, the Russians on the march in Ukraine, the Southern border a polite fiction, and skyrocketing inflation, Old Joe is in full-throttle finger-pointing mode, blaming everyone he can think of for the catastrophic failure of his administration. His latest scapegoat: the American people. That’s right, all of us, or at very least those who come to the very sensible and entirely justifiable conclusion that his absurd far-Left policies are responsible for today’s galloping inflation rates. The primary reason why the Democrats may fare poorly in November is, of course, that Biden’s handlers have made a hash of pretty much everything, and with inflation raging out of control and certain to go higher, Biden had a ready explanation: “Make no mistake, inflation is largely the fault of Putin.”

“I’m sick of this stuff!,” the old man shouted (remember: unfocused and unwarranted anger is a sign of dementia). “We have to talk about it because the American people think the reason for inflation is the government spending more money. Simply. Not. True.” … What’s happening to the American economy is entirely the fault of the old man who is shouting about how sick and tired he is of people saying it’s his fault and of the bright young Leftists with whom he has filled his administration and who are anxious to seize as much of the fruit of the labors of the American people as they can, so as to finance their various utopian boondoggles.

Glenn Reynolds:

He’s senile and out of touch, but at some level of what’s left of his mind he knows he’s blowing it.

To be precise, it’s not government spending per se that is causing inflation. If all the money spent by government was raised by taxation, it would not be inflationary. Inflation is caused by excessive manufacture of new money. As it happens, that has been done and continues to be done by the Federal Reserve, in order to fund the huge Federal Government deficits. Same diff. Battleswarmblog:

I know there’s a lot going on in the world today, but can we just take a moment to reflect on how crazy it is that the United States House of Representatives just passed a $1.5 TRILLION spending bill that no one has read? … That piddling, measly $1.5 trillion isn’t the full budget, it’s just through the end of the fiscal year, which is to say September 30. That’s more than Ronald Reagan’s first two budgets for their entire fiscal years combined. … Here’s how you know that no single human being read all 2,700 pages, because it was unveiled yesterday. Of course, that’s the entire point, so no one can point out the graft and payouts earmarked for political cronies