patrick.net

Factcheck: Inflation is only caused by Russians and Russian-Symp Supermarkets and Gas Stations. Milton Friedman's remarks about Inflation having solely a Monetary Policy Cause are Putin Disinformation.

"Everywhere inflation is a monetary phenomenon (caused by the controller of the currency - here, the US federal reserve - printing money disproportionally to growth)" is DEBOONKED!

Inflation sucks, so how can you cope with it?

Make more money of course.

How do you get higher pay when the slave masters want to replace you with foreign scabs from places like India, China, etc.?

You can’t; you’re fucked.

Everyone understands that foreigners coming in here don’t improve their lives one bit, but almost nobody except Trump said anything about it.

I feel sorry for guys working now.

https://babylonbee.com/news/family-spends-100-on-dinner-after-idling-in-drive-thru-for-10-minutes?source=patrick.net

Patrick says

https://babylonbee.com/news/family-spends-100-on-dinner-after-idling-in-drive-thru-for-10-minutes?source=patrick.net

Not far from reality.

clambo says

Everyone understands that foreigners coming in here don’t improve their lives one bit, but almost nobody except Trump said anything about it.

One could live cheap, rent a shitty apartment for a few hundred bucks. Even in North NJ, always a top 10 expensive area to live, 25 years ago. Immigration has destroyed that option for native born Americans; the places are all Section 8 getting guaranteed high rent government checks now for illegals and their brood.

High inflation is great for those with high debt against hard assets, like real estate. A millijon Dollar mortgage will soon be peanuts, just sell your rusty old clunker to pay off your mortgage, lol, haha.

High inflation is exactly what this overindebted nation needs.

Sorry my submit button was stuck, I’ll have to spray some WD40 on it…

Neither inflation nor high interest rates nor high energy costs are good.

I'm luckily past worrying about them much however.

clambo says

Neither inflation nor high interest rates nor high energy costs are good.

I'm luckily past worrying about them much however.

Might not be good for you, but for every loser, there is a winner on the other end.

For example, high interest rates are good for private lenders. High inflation is good for some indebted folks as long as their income has at least the same amount of inflation. High energy prices is good for some in the energy sector.

JimSpatzenfeld says

High inflation is great for those with high debt against hard assets, like real estate. A millijon Dollar mortgage will soon be peanuts, just sell your rusty old clunker to pay off your mortgage, lol, haha.

High inflation is exactly what this overindebted nation needs.

You can say that again

Last year the inflation was 10%.
This year it will be 15% thanks to unrelenting supply issues and much higher fuel prices.
Expect 20% inflation for next year.

That’s 45% inflation in three years. 45 is also the number of the POTUS we need back to fix this mess Brandon created.

I knew that hyperinflation was lurking around the corner when the Federal Government said:

1.) you don’t need to pay that much tax anymore
2.) you don’t need to pay rent anymore
3.) you can pause your mortgage for a couple of years
4.) you get more money being unemployed than working
5.) we’re mailing large stimulus checks with my signature on it to all citizens

All the sudden a huge amount of excessive spending money for everyone, yeah!!!

https://notthebee.com/article/the-fed-just-raised-interest-rates-for-the-first-time-in-3-years--and-thats-not-all?source=patrick.net

Last time we had anything like normal (and the very low side of normal) was 2008. Been hyperstimulatory for 13 years.

100 to fill up today, im really pissed off.

Me too! 15 gallon honda accord.

https://www.thegatewaypundit.com/2022/03/tax-dollars-work-ukrainian-officials-keep-getting-caught-fleeing-country-suitcases-full-cash-euros/

And all of that was pre-Bidenflation.

Patrick says

And all of that was pre-Bidenflation.

@patrick
The low inflation items are just manufactured in China.
If you take China out, Those would just skyrocket in prices.

Patrick says

https://www.thegatewaypundit.com/2022/03/tax-dollars-work-ukrainian-officials-keep-getting-caught-fleeing-country-suitcases-full-cash-euros/?source=patrick.net

Offshoring.
End of globalization means higher prices. In US you have to treat workers better which is expensive.

Before WWII, middle- to lower-middle class families would spend about 50% of gross income on food, followed by about 25% for housing.

After the near communist takeover of the US during the great depression, the gub'ment decided never again to permit mass hunger in the U.S. Now we have bellies full of junk food, but no children are crying from hunger.

Until recently (2015), we had the inverse: housing about 50%, food under 25%.

With this inflation, both in rents and food, things are going to come to a very ugly head. I'm looking forward to it. As the slave-fucking founder Jefferson said, "The tree of liberty must periodically be refreshed by the blood of patriots and tyrants."

DooDahMan says

the biggest factors influencing inflation are outside of the Fed’s control

Are they not the people that print all the unbacked money?

Interesting insight: Inflations is nothing other than the transfer of wealth from one person to another. OK, maybe from one group to another group.

https://www.unqualified-reservations.org/2008/06/olx-simple-sovereign-bankruptcy/?source=patrick.net

Thus, if there are one trillion dollars in the world, and we accept the (dubious) assumption that if you own all the dollars you own the Federal Reserve, each dollar is a right to one trillionth of the Federal Reserve. Perhaps this is obvious, but it implies some corollaries.

One, creating new dollars does not affect the value of the Federal Reserve, however we choose to measure that value. Nor does it affect the value of Elbonia, Yukos, or any other right. It is common or garden-variety stock dilution. Dilution is often more convenient than transferring shares from old owners to new owners, but the principle is the same. If there exist one trillion dollars and we print ten billion new ones and give them to X, the effect is just as if we replaced each dollars held by anyone but X with 99 cents, added up the spare cents and gave them to X.

So inflation is the transfer of wealth from people who already own dollars to the people who get the newly printed dollars.