Economics professor Justin Wolfers says Australia ‘failing’ as land of the fair go – ABC News

https://www.abc.net.au/news/2021-04-27/justin-wolfers-the-reserve-bank-caused-recession-we-had-to-have/100097354

When the Hawke government floated the currency in
1983 and deregulated the financial system, it fundamentally changed
Australia’s macro-policy settings.

However, it took policymakers years to adapt their thinking to the new reality.

Many
policymakers, including at the RBA, remained concerned with old
problems that plagued the old fixed-exchange-rate system, not realising
they were no longer an issue.

And Now Prices Are Really Soaring: June Rent Jump Is Biggest On Record

https://www.nationandstate.com/2021/06/29/and-now-prices-are-really-soaring-june-rent-jump-is-biggest-on-record/
And Now Prices Are Really Soaring: June Rent Jump Is Biggest On Record With BofA predicting that the US is facing a period of “transitory hyperinflation“, one which could last as long as 4 years, as a result of soaring commodity prices in everything from metals to food and beyond, in what increasingly more warn […]

Ranchers Sell Off Cattle And Farmers Idle Hundreds Of Thousands Of Acres As America’s Drought Emergency Escalates

https://www.nationandstate.com/2021/06/10/ranchers-sell-off-cattle-and-farmers-idle-hundreds-of-thousands-of-acres-as-americas-drought-emergency-escalates/
By Michael Snyder In my entire lifetime, this is the worst that drought conditions have ever been in the western half of the country. During… Ranchers Sell Off Cattle And Farmers Idle Hundreds Of… Go to Source Author: Activist Post… Read more

5 Signs That America’s Raging Inflation Crisis Is Accelerating — The Economic Collapse | Truth2Freedom’s Blog

https://truth4freedom.wordpress.com/2021/06/09/5-signs-that-americas-raging-inflation-crisis-is-accelerating-the-economic-collapse/

The pace at which conditions are changing is catching a lot of people off guard.

#1 Inflation tends to hit those at the bottom of the economic food chain the hardest, but at this point even most millionaires say that they are “concerned about inflation”

#2 The biggest banks in the world are now sounding the alarm about the inflation crisis. This week, a team of analysts from Deutsche Bank warned that “neglecting inflation leaves global economies sitting on a time bomb”

#3 Housing prices continue to soar into the stratosphere in the United States. These days, investment funds, wealthy individuals and foreigners are all gobbling up homes in anticipation of making huge profits, and this is making things extremely difficult for ordinary home buyers. Earlier, I found the following message from one exasperated home shopper on a popular discussion forum

#4 Used car prices have now officially entered “absurd” territory. This week, we learned that the Used Vehicle Value Index has shot up by 26 percent so far in 2021…

#5 Food prices continue to surge higher, and I continue to see reports of intermittent shortages around the nation.

Down in Florida, Papa Bee’s Owner Lorie Hamm says that only a limited number of cases of chicken wings are being made available to restaurants in her area, and she also says that the price for such cases has nearly doubled since the start of 2021…

5 Signs That America’s Raging Inflation Crisis Is Accelerating — The Economic Collapse

“Everything Is On Fire”

https://www.nationandstate.com/2021/05/20/everything-is-on-fire/

Authored by Egon von Greyerz via GoldSwitzerland.com, “Everything is on fire” – Heraclitus (535-475 BC) What Heraclitus meant was that the world is in a constant state of flux. But the big problem in the next few years is that the world will experience a fire of a magnitude never seen…

Silicon Chip Shortage Leads To Potato Chip Shortage: Farmers Halt Equipment Shipments To Dealers

Comment by tonytran2015: This is Karma in action. US government encouraged machinery makers to use their CPU’s and copyrights of chips to generate a strangle hold on the repairs/service of machineries. Now that policy is biting back.

https://www.nationandstate.com/2021/05/18/silicon-chip-shortage-leads-to-potato-chip-shortage-farmers-halt-equipment-shipments-to-dealers/

Silicon Chip Shortage Leads To Potato Chip Shortage: Farmers Halt Equipment Shipments To Dealers Readers have been briefed on the ongoing semiconductor shortage that may last a “couple of years.” The auto industry has grabbed the spotlight as the hardest-hit industry, with some of the world’s biggest manufacturers restricting production.  According to a new report,…

Stage Is Set For “Dramatically Higher Inflation” As Transportation Costs Spike Even Higher

https://www.nationandstate.com/2021/05/14/stage-is-set-for-dramatically-higher-inflation-as-transportation-costs-spike-even-higher/

By Greg Miller of Freight Waves, The headlines last August and September blared: “Trans-Pacific rates are going crazy.” “Rates are on fire.” “Records shattered.” Oh, what cargo shippers would give to get the rates they paid eight or nine months ago. Those…

It’s Getting Serious: Dollar’s Purchasing Power Plunges Most since 2007. But it’s a Lot Worse than it Appears, by Wolf Richter | STRAIGHT LINE LOGIC

https://straightlinelogic.com/2021/05/13/its-getting-serious-dollars-purchasing-power-plunges-most-since-2007-but-its-a-lot-worse-than-it-appears-by-wolf-richter/

There are lies, damn lies, and government inflation statistics. From Wolf Richter at wolfstreet.com:

Fed officials, economists “surprised” by surge in CPI inflation, but we’ve seen it for months, including “scary-crazy” inflation in some corners.

The Consumer Price Index jumped 0.8% in April from March, after having jumped 0.6% in March from February – both the sharpest month-to-month jumps since 2009 – and after having jumped 0.4% in February, according to the Bureau of Labor Statistics today. For the three months combined, CPI has jumped by 1.7%, or by 7.0% “annualized.” So that’s what we’re looking at: 7% CPI inflation and accelerating.

Consumer price inflation is the politically correct way of saying the consumer dollar – everything denominated in dollars for consumers, such as their labor – is losing purchasing power. And the purchasing power of the “consumer dollar” plunged by 1.1% in April from March, or 12% “annualized,” according to BLS data. From record low to record low. Over the past three months, the purchasing power of the consumer dollars has plunged by 2.1%, the biggest three-month drop since 2007. “Annualized,” over those three months, the purchasing power of the dollar dropped at an annual rate of 8.4%:

The Pressure Cooker, by The Zman | STRAIGHT LINE LOGIC

https://straightlinelogic.com/2021/05/06/the-pressure-cooker-by-the-zman/

They keep turning up the heat on the pressure cooker, and sooner or later something’s going to blow. From The Zman at theburningplatform.com:

A universal truth of life is that pressure reveals character. This is not only true in individuals, but it is also true in societies. When times are easy, all sorts of undesirable things can be overlooked. The petty corruption in government is not a big deal in a booming economy. Inequality is ignored, maybe even celebrated when times are good, because people think their time will come. It is when things turn down that all of a sudden, those issues rise up and take up people’s attention…

Manhattan Retail Rents Continue Slide As Recovery Narrative Falls Apart 

https://www.nationandstate.com/2021/04/29/manhattan-retail-rents-continue-slide-as-recovery-narrative-falls-apart/

Manhattan’s “prime” retail real estate market remained under pressure in the first quarter even as COVID-19 vaccines became widely available and public health restrictions eased.  According to Bloomberg, citing a report by Cushman & Wakefield, SoHo, a neighborhood in Lower Manhattan known for designer boutiques, fancy…