The Biden Thing and those pulling its strings wants you to think things are better – just in time for the midterms – because the cost of a gallon of gas is not as high as it was.
For now.
Outside of California, most of us are “only” paying about $3.60 or so per gallon . . . for the moment. The idea being to get people to focus on that rather than on what they were paying before the Biden Thing came to town, when regular unleaded cost around $2.25 per gallon. When gas was getting cheaper because more oil was being produced.
Gas is now “cheaper” – so to speak – because more oil is being released.
The difference is important.
More oil being produced means lower prices resulting from an increase in supply. More oil being released – as from the Strategic Reserves – means a temporary (and unsustainable) increase in supply and an artificially induced lowering of prices that cannot last long. The hope – of the things behind the Biden Thing – is that they will stay lower for just long enough.
And then, they will go up.
Beyond where they are now – and beyond where they were, a couple of months ago. Once the elections are over – and the Things have consolidated their power – they will stop draining the Strategic Reserves. That artificial supply of oil will not be replaced by a supply of oil being produced. This will result in a reduction of supply while demand remains the same or even higher.
By Christmas, we may be paying $5 (or more) for a gallon of gas and looking back wistfully at the days when it “only” cost $3.60 per gallon.
But there’s something else we probably ought to be looking at right now. It is the cost of diesel fuel – which is still well over $4.00 per gallon in most parts of the country and more than $6 per gallon in California, where there are many shipping ports and a lot of agriculture.
For now.
The cost of diesel isn’t noticed as much by most people because most people don’t drive diesel-powered vehicles (the government having done a very effective job all-but-outlawing them without actually passing a law outlawing them). But everyone has noticed the effects of high-cost diesel, which are passed on to them via the food producers who use diesel-powered equipment and the truckers who haul the food produced in their diesel-powered trucks. This is why the cost of food and other necessities has not gone down. It may cost you momentarily “less” to drive your car to the supermarket but it still costs the trucker who hauled the stuff to the supermarket a fortune.
Which is why you are still paying a fortune, at the store.
“Inflation” – the devaluation of the fiat currency we’re all forced to use to buy and sell things – is part of the reason why we are forced to spend more currency to buy the same. Or less, as when the wrapper or box is the same size but what’s inside no longer is. But there s the additional reason of stuff being made actually more expensive by making the cost to produce and transport it more actually expensive. Even if “inflation” were to abate today, we’d still be paying record-high prices for food and other necessities because of record-high diesel-fuel prices.
The prices that are what they are right now. For the moment.
Even under the temporary influence of an artificial increase in supply via the politically motivated draining of the Strategic Reserves, diesel still costs about twice what it cost before the Biden Thing assumed the presidential Tele-Prompter.
That means the “new normal” cost of things is going to stay the same – at least. That being the “best case” scenario. Given that what is styled “inflation” is not likely to abate tomorrow (or ever) and given the certainty that there is a limited supply of oil in the Strategic Reserves that can be used to temporarily suppress the price of gas – and diesel – it is inevitable that we’ll be paying a great deal more for gasoline and everything that is produced or transported using diesel when the temporarily increased supply is reduced. Which it will be, leaving aside the political machinations of the Thing and those propping him up (red-backlit) in front of a Tele-Prompter screen, for there is only so much oil in the Reserves.
Once there’s no more, there’s nothing left.
Maybe now you get the idea.
The things behind the Biden Thing do not want to lower the cost of fuel – or food. Except temporarily. Expediently. Abundance – and affordability – being contrary to scarcity, poverty and dependence they seek to impose. Freezing – and starving – people will look to these Things for “help.” The very Things that created the reasons for needing “help.”
Enjoy the “low” cost of gas – and not-so-much diesel – while it lasts. Which isn’t going to be for much longer.
. . .
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Making this whole situation so galling is the fact a laisser faire capitalist economy would be significantly more productive than what obtains now, the wealth would be spread more broadly to relieve the worst poverty & every one would enjoy dignity, self respect & more contentment as well as spared the odium of having intent to commit domestic terror imputed to him for favoring these good things. The current dispensation presents us with a social pyramid where most & certainly the best of fewer resources goes to the top & all below a certain high line is stingily shared by multitudes assigned to live & die miserably. This is the consummation of the eco-freak mentality I have seen at work since the late 1960s in primary school. By 1970 I knew it was basically communistic & must be fought to the death. Thanks for posting on LewRockwell.com.
I didn’t see many windmills and solar panels in those utopian liberal living communities in Oakland. How come?
While I haven’t paid a whole lot of attention to any man in the US titled “president” since perhaps Ronnie, it sure would be different to get a guy in there that could actually talk without a telly-prompter telling him what to say. Are these pretend leaders that dense? You mean they can’t put a few sentences together that really speak from the heart or mind?
Putin in 2024.
The elits won’t let these into their back yards…lol
The government has stupid solutions for the climate change lies……technology that is far more destructive to the environment…..
NOTE: solar panels, lithium batteries and wind turbines are all catching fire, they are very dangerous…
95% of lithium batteries aren’t recycled, Solar panels can’t be recycled, Used wind turbine blades can’t be recycled, Each blade weighs 81,000 pounds, they are made from fiberglass.
Lithium batteries:
Can’t be recycled = really green energy….haha
A typical EV battery weighs one thousand pounds, (tesla batteries go up to 1800 lb., hummer battery is 3000 lb. ) It contains twenty-five pounds of lithium, sixty pounds of nickel, 44 pounds of manganese, 30 pounds cobalt, 200 pounds of copper, and 400 pounds of aluminum, steel, and plastic. Inside are over 6,000 individual lithium-ion cells.
It should concern you that all those toxic components come from mining. For instance, to manufacture each EV auto battery, you must process 25,000 pounds of brine for the lithium, 30,000 pounds of ore for the cobalt, 5,000 pounds of ore for the nickel, and 25,000 pounds of ore for copper. All told, you dig up 500,000 pounds of the earth’s crust for just one battery.” For the larger batteries multiply all that by 2 X.
Sixty-eight percent of the world’s cobalt, a significant part of a battery, comes from the Congo. Their mines have no pollution controls, and they employ children who die from handling this toxic material. Should we factor in these diseased kids as part of the cost of driving an electric car?”
Open pit lithium mining for battery manufacture, often done with child slave labour, is worse then tar sands mining.
95% of lithium batteries aren’t recycled……someone said there is a $4500 recycling fee, so they will get thrown into the woods probably.
Lithium fire bomb batteries catch fire, are very dangerous….
Solar panels:
The main problem with solar arrays is the chemicals needed to process silicate into the silicon used in the panels. To make pure enough silicon requires processing it with hydrochloric acid, sulfuric acid, nitric acid, hydrogen fluoride, trichloroethane, and acetone. In addition, they also need gallium, arsenide, copper-indium-gallium- diselenide, and cadmium-telluride, which also are highly toxic. Silicone dust is a hazard to the workers, and the panels cannot be recycled.
Solar panels can’t be recycled…..what will they do with them (and wind turbine blades)? throw them down old mine shafts like nuclear waste?…..lol..
solar panels are toxic. They sterilize the ground they sit on. Birds that fly over a solar farm are roasted mid-flight.
Have you researched the temperature directly above a solar farm?? These farms have been accused of creating warming in the regions around them.
Solar panels catch fire, they are a fire hazard…
The alarmists will always show you pictures of solar panels on green grass – which have to taken as soon as the panels are installed. They leach cadmium and other toxic chemicals and sterilize the soil. Just try to find anything growing under a solar farm that has stood for a few years.
Going 100% wind and solar would mean the landmass that both wind and solar would take up would be most of the farmland in America.
Right now we’re not even at 3% electrical production of both. We’re going down a doomed path!
Wind turbines
Wind turbines are the ultimate in embedded costs and environmental destruction. Each weighs 1688 tons (the equivalent of 23 houses) and contains 1300 tons of concrete, 295 tons of steel, 48 tons of iron, 24 tons of fiberglass, and the hard to extract rare earths neodymium, praseodymium, and dysprosium. Each blade weighs 81,000 pounds and will last 15 to 20 years, at which time it must be replaced. We cannot recycle used blades. Sadly, both solar arrays and windmills kill birds, bats, sea life, and migratory insects.
Wind turbines are junk energy yes the cost is enormous! They have a lifespan of roughly maybe 20 years and to decommission one costs $500,000! And the landmass that both wind and solar take up will take up most of the farmland in America. Right now we’re not even at 3% electrical production of both. We’re going down a doomed path!
Used wind turbine blades can’t be recycled, Each blade weighs 81,000 pounds, they are made from fiberglass.
The average wind farm has 150 turbines. Each wind turbine requires 80 gallons of oil for lubrication, and this isn’t vegetable oil; this is a PAO synthetic oil based on crude… 12,000 gallons. Once a year, that oil must be replenished.
The wind farm in Mt. Pulaski has been running for 3 1/2 years. They have been replacing the generators in all the wind towers. There are 100 of them in this wind farm. So evidently the life span on the generators on these things is about 3 to 4 years. It takes 12 semi trucks and trailers, A 9 axle 500,000 pound crane, A 100,000 pound crane and 12 pick up trucks to change each generator. That is a huge amount of diesel fuel being used to maintain these wind towers. And the “Green Groups” would like You to believe they are all fueled by magic fairy dust.
they leak oil from their motors. They cannot be recycled so they are buried in Landfills. They use more electricity than they create. They can fling ice for hundreds of meters. They kill large predatory birds, bats and insects. Their infrasound negatively affect the hearts of humans and animals that live near them. The huge cement footings damage aquifers.
wind turbines catch fire, they are dangerous a fire hazard……
But truly, there is no making sense of these people anymore.
They are ready to shell out hundreds of billions to take over arable acreage with solar panels even as we face a food crisis,
and festoon the countryside with bird-slaughtering windmills rather than permit more pipelines and refineries to open.
https://www.truth11.com/content/images/2022/07/5F4EEBF7-CFDB-4DC0-8406-D8B485529046.jpeg
Oil refinery blew up in Ohio, guess the reprieve is over now.
tHERE is only 1 decision in this life that counts for ETERNITY: either John 3.3, 33-34– (heaven) -or- Revelation 13, 20.10—–(lake of burning fire). You have FREE WILL & NO EXCUSE.
John 3.3, 33-34-
Thanks for the censorship Publius.
This along with Biden’s bold declaration that plague is over kind of confirms my suspicions. Never mind most of us knew the bat flu was no more than a mild cold. The plague has always been in the Vacidia. The Rockefella wet dream of poisoning the entire world, pumping everyone full of thimersol mercury. After all wouldn’t it be nice to be rid of all the dirty Wal-mart shoppers?
Whipping the flu, along with the reprieve on gas prices will give the dims and their media shills all the cover they need to once again steal this selection. And the only answer from the Rs will be ‘Vote harder.’
Rumble has a short video of Dr. Hararai, top advisor to Klaus Schwab, wherein he talks/brags about the vaccines being carriers of the necessary ingredients so that the elites can “hack” our bodies controlling our thoughts and actions. He actually says we must get use to the idea we are no longer mysterious souls. Evil.
He’s also a fag who puts other guys’ dicks in his mouth and butt…so there’s that.
I don’t think they’re hoping it lasts to the midterms. They probably have the calculus figured out perfectly, with everything considered, so it will run out exactly a few days or weeks after election day.
Agree with everyone here, that it takes a blind fool to not see that the slightly lower gas prices won’t last much past November.
I know this is a forum which focuses on cars primarily, and your electric car articles are excellent. You may already be aware, but I’ll say it anyway: The push for electric cars is just one pincer – there is also the push for all-electric homes, via the banning of natural gas and wood-burners in new construction. All while our electric grid is being dismantled.
It’s not hard to find articles around the world describing the plight of asthmatic neighbors trapped in their homes on account of the evil man burning wood. One more pincer. I just read one from the U.K., and one from Oregon, today. Virtually identical. I think this winter is going to be a doozy. I’m working on year 3 of my firewood hoard. I see obese, incapable people everywhere. Their shopping carts are full of sodas, cakes, chips. This has all accelerated since disabilities and infirmities were put on a mantel, this past decade, where weakness is strength. Don’t make me laugh. Enough rambling, but suffice to say, It doesn’t look good.
Max….Beautiful Rant…
.. Just watch what happens when everyone starts up their wood stoves for heat…You will experience AIR POLLUTION..that will wipe out your lungs posthaste….
For the record a city called Coyhaique in “pristine “Patagonian Chile has arguably the world’s worst winter pollution on the planet…stuck in a valley surrounded by highlands using wood stoves RESULTS IN TOTAL POLLUTION!
Tell That To The Marines. Been there ,Suffocated there!
Yep , I have already heard the terminally stupid get over the price and say its not that bad. Anyone dumb enough to think this isn’t a temporary drop designed to keep the commies from getting waxed in Nov is frankly too stupid to be entitled to an opinion on the matter.
The VW diesel had to be removed as an option;
It was in major conflict with the EV AGENDA.
On a side note, Eric had another well-articlulated and lively discussion today with the always interesting DAVID KNIGHT SHOW!
Ice diesel cleaner then an EV
The 2014 Volkswagen Golf BlueMotion diesel, capable of a claimed 88.3 mpg imperial, or 73.5 mpg U.S.
it has a 971 mile range, the perfect car.
The Volkswagen Golf BlueMotion has emissions of 85g CO2 per km. it is even cleaner (less emissions) than a Toyota Prius or an EV….
A bloomberg article states, “A current-model large EV car with a battery produced and charged in an average European Union country emits about 88 grams of CO2 per kilometer,
new EV’s get 20 mpg….lol
Yep, we’re freaking doomed. Some of the regulars may have noticed I’ve been scarce around here lately, I’ve been working 80-100 hours a week since March. Stuffing cash and goods everywhere I can, making every business expense I plausibly can incur. I will be as ready as I can be for what nobody can be ready for.
If the RINOS win the midterms and do not immediately remove via impeachment the entire coup cabal, (reinstall Trump? probably not), there is no slowing this juggernaut of misery coming our way. Massive inflation, massive taxes, famine/starvation, civil unrest, all are on the menu. No matter what they are on the menu- it is no longer avoidable. OBastard really did fundamentally change America, never addressing the real problems but slipping in the poisoned needle after a phalanx of fools and idiots allowed him to be installed.
The cabal that took over in January of 21 are Communists. Totalitarians. They kill people, it’s what they do. They are OK (much more than OK, they revel in misery of others) with the resistance freezing, starving, or being stood up and executed. See Holodomor, Holocaust, Armenian genocide, the killing fields of Cambodia and Vietnam, the red purges and the massive starvation in China and North Korea.
Their justification for their madness is nothing but lies- manmade climate change, racism, inequality, not enough sexual freaks.
I keep coming back to Christianity- by their works shall you know them, and their master is the father of lies, a liar and a murderer.
Peace brothers and sisters. Prepare physically, mentally, and spiritually.
The Technocratic elite bragged about how many people complied with draconian COVID measures such as lockdowns, so now they will try to implement climate lockdowns………
https://www.technocracy.news/wef-lessons-learned-in-covid-lockdowns-will-be-applied-to-carbon/
Hi John,
I was trying to locate this article earlier. I remember reading it a few days ago. People need to toss out their cell phones. Our phones are voluntary tracking devices. I noticed it is becoming more and more inconvenient in dealing with other companies since my flip phone is not a “smart” phone and more and more businesses want access to it. I rarely shop at Lidl because to receive the sale price they want access to your phone; I refuse to use Apple Pay or have my credit card on my phone, and the bank won’t deal with me and allow me to do certain transactions because I won’t download their app.
People considered COVID deadly (until a few woke up). Climate change doesn’t hold the same appeal. The Left has been screaming since the 1970s that we are all going to die in a matter of years. Their bellowing is synonymous with Peter and the Wolf. In the future there may be a significant crisis, but they have called bluff too many times to take it seriously.
Eating crickets instead of steak and buying electric vs gasoline engines just don’t hold the same urgency. Especially when the elite are hobnobbing throughout Europe in their jet fueled engines, enjoying filet and lobster, while cruising the world on their Azimuts, when not beachside at one of their coastal homes.
RG,
A good website to see what these technocrats are up to is technocracy.news. It’s run by someone named Patrick Wood, who has been trying to warn people for years about technocracy and their push for smart cities, transhumanism, sustainability, etc.
Thanks, John. I will look into it.
RG,
I had the same experience with LIDL.
While being rung up, I questioned some of the prices. I was told “Oh, those prices are only for people who use the phone app.”
I said…”So, I cannot remain anonymous and get the sale price?”
The response was…” No you can’t, but every one is doing it. ”
I countered with “well, count me out of this two-tiered pricing system.”
Thinking about it later, she was correct…every store extracts personal info, in order to receive the “special” pricing.
Hi Frankie,
It is why Aldi gets most of my business. No savings card, no app, and they accept cash. 🙂
Actually Aldi Rocks…..cash is king….for the time being……
I’m over 65, the last AGW stop I endured was November 1987, I am going on year 16 with my chevy cobalt…and have to pay $714.00 every six months for “minimal” coverage in Broward Cty FL?????
Glad I’m in my mid sixties and never had progeny!! A most prescient decision.
Good luck everyone, as Herr Peters has chronicled the decline of individual rights for quite some time now……unfortunately it will only get worse…
Oh Well Shit happens……
Hi Expat,
If I were faced with having to spend anything more than $500 annually to “cover” my 20-year-old truck, I’d stop spending a cent on “coverage.” The Law be damned. A point comes when it is suicidal to obey (rather than flout) The Law. That time is upon us.
I use the non-app function by putting in my landline phone number.
Hi RG,
Thank you for your reply in another article about what happens to those with ARMs and credit card debt etc when interest rates change. I didn’t make my question clear enough.
What happens to the poxy GOVERNMENT’s 31 trillion debt when rates change? Does all 31 T change or just the new debt incurred under the new interest rate? Or are some T bills/bonds adjustable as well? 🤔
Raider Girl; I never got a fart phone, and I don’t use a hell phone because I read alot of science stuff when I was a kid & adult… about electromagnetics and affect on humans etc.
I think the crooks are planning to make everyone use their fart-phones for the new money system they’re working on right now… I think it’s part of a “social credit score”… so basically no-one will be able to buy or sell anything pretty soon LOL, and it’ll be a complicated nightmare [of course]. If people don’t make a living torturing & murdering other people, then they will be penalized. What a wonderful world [sarc], as if things are bad enough.
If I was some space aliens on a nearby planet, and I had the power to get rid of the crooks on planet Earth, I think I would do it. I feel sorry for everyone on this planet. This is a nightmare. No, this is worse than a nightmare. It was never good. Now it’s a cartoon horror show.
Hi Harry,
If they try to impose digital money/social credit I’m punching out. Amish, RV, tent in the woods. Whatever it takes – because won’t live like that. I’m hoping none of us have to.
Eric,
Take solace in the fact that Japan abandoned their CBDC. Why? The people weren’t interested. Even China, which is on the vanguard of CBDC implementation, is experiencing some rough going. People DON’T LIKE CBDCs!
EP,
There are some cool “punch out” locations…(with Very Fertile Soil) in the DR.
You would trip out with some GPS coordinates qualifying “as the middle of nowhere”…
only about 40 miles away from ….wait for it……Punta Cana!
Reference Miches and route 107 over the Cordillera Occidental heading south….lots of wild cacao trees along the road!
Robin Crusoe City!…No Shit.
From vaccine passports to personal carbon passports: Get ready for CLIMATE-21 fossil fuel climate change lockdowns
High gasoline prices will hurt you; high diesel prices will kill you. If you have a home oil (diesel- off road use) heating furnace, you will pay through the nose! I had a delivery made last week and the price was $4.999 a gallon! I have a friend who farms for a living and the rising fuel and fertilizer costs has forced him to raise his hay prices to $10.25 a square bale for 2nd cutting orchard grass delivered. Just wait until the first cold snap later on this year and diesel will skyrocket in price!
That’s what I’m afraid of too, Allen. Diesel always goes up in the fall when people start filling their home heating tanks; I hate to think what it’s going to be like this year.
Last week I filled my pickup. It was only about half empty and it cost me 90 bucks. This week I got 20 gallons of the red-dyed off-road diesel for my tractor and lawnmower – enough to last me one or two afternoons. Even though it had no road tax on it, it set me back another $90.
‘Freezing – and starving – people will look to these Things for “help.” The very Things that created the reasons for needing “help.” — eric
As late as the 1980s, when Germany still had its own Deutschmark, Germans were said to retain a cultural memory of the disastrous Weimar hyperinflation of 1923. ‘Never again’ was the sentiment, we were told, in hard-currency Germany.
But socialists are in charge again. Not National Socialists this time, but Social Democratic Party ones. This morning, Germany’s Producer Price Index popped to a banana-republic 45.8% annually. Hockey stick chart:
https://tinyurl.com/ycyjp6f7
Get woke, go broke.
Will pussified Germans ever boot out their yankee occupiers and reclaim their sovereignty? Or will they starve their grannies under NATO’s hobnailed jackboot?
Let’s cut their food supply 50% and see what the lab rats do.
Jim,
Per recent developments, apparently about 100k Checks called the bullshit. Lesser numbers elsewhere also calling the bullshit. As small as they may be, there are lights in the darkness. People tend to huddle around such lights.
JH,
My Kraut old man would “roll over in his grave” if he ever watched what happened to his revered Germany……..Holy Shit …..Tough, efficient and competent…….Reduced to Woke Pussies…..Time for a Nuclear war…..”To clear the air” …so to speak.
My childhood best friend owns a trucking company. He doesn’t believe the business can survive another year –between the high cost of fuel, inability go get repair parts, drivers wanting more money to combat inflation. He’s sold off all of his tanker trailers & is in the process of liquidating everything else while he still can. He’s the great American story –started off driving, went to auto-diesel school, built the company with his own two hands, did well for years and was cratered by the stupid covid reaction, & now saying to hell with it, and FJB.
Hi Mike,
I am sorry to read this. I hate when small businesses are destroyed by regulations and costs that are out of their control. This only leaves large businesses who just monopolize the industry. The costs then increase, service stinks, and the rest of us are back to working for “The Man.” I hope your friend is able to hang on and inflation breaks soon. Our country needs people like him to survive.
RG,
The Fed long ago admitted that 2% inflation was the very best it could do. Compound that over ten years and see what you get.
Inflation is the very purpose of fiat currency. There is no other reason to use it.
“Money” can be printed. Wealth cannot be. Simple.
Virtually the entire US “economy” is now based on shuffling debt. Production of wealth be damned.
He farms about 1000 acres so has that going for him. Trucking is where his bread n butter was, tho.
What the Biden thing did was AGAINST THE LAW! I’m old enough to remember when the Strategic Petroleum Reserve was established, and it was strictly for national emergencies, like another Arab oil embargo. The SPR was established in the wake of the Arab oil embargo of the early-mid 1970s, so if it happened again, we’d be prepared. Drawing down the SPR is akin to spending your rainy day account to buy something you don’t need.
Dumping SPR oil is also proof positive that the Biden thing and his handlers know that increasing supply of anything lowers the price. Well, DUH! That’s Econ 101. Meanwhile, the Biden thing and his advisors act like they’re clueless about why oil costs more; they act like they can’t do anything. However, dumping the SPR oil means that they know EXACTLY what they’re doing, which is screwing us!
Exactly Marky!
Using the SPR to manipulate prices is outrageous, what if OPEC decides that now would be a good time to embargo oil shipments to the USSA? Not that long ago we were self sufficient but now that FJB has stopped the Keystone pipeline and declared war on fracking we’d be up the proverbial creek. These govco bureaurats drive me nuts.
Mike,
OPEC doesn’t have to decide, all it has to do is realize.
Keystone and fracking aside, the dementia addled Biden administration has declared open warfare on the hydrocarbon fuel industry. Denying drilling permits and denying application for new refineries. Why would any hydrocarbon business invest in what the US Psychopaths In Charge have declared war against?
So what?
The Bidens are above the law. They’ve proved it over, and over, and over, and they are continuing to prove it.
They aren’t going to see so much as five minutes of jail time, and they know it.
Publius,
Absolutely correct! Just think of how much the biden Klowns are ripping off right now from “Ukraine aid”…..and will just keep doing it …..
After all …as George Carlin once said…”Think of how stupid the average American is and half of them are stupider than that”.
That says it all, quite succinctly. Too Bad the “murkin porko turds” are too busy stuffing Doritos in their faces to even bother to educate themselves.
Fun Historical Fact……Mid 1970’s USMC Quarterly Physical fitness test:
-20 pull-ups;
-80 bent knee sit-ups in 2 minutes;
-3 mile run in 18 minutes
Complete it and you win a “96” 4 day pass
From my observations ….this is simply an Impossible task for the “Biggee Shake, Biggee Fries,
triple cheeseburger” crowd, i.e. The present population of “USA…USA”….
Semper Fi
‘Given that what is styled “inflation” is not likely to abate tomorrow (or ever)’ — eric
Upon this question hinges the future wealth of billionaires, and lowly consumers too.
Without exception, US recessions have knocked down the rate of inflation by crimping demand. In the 1920-1921 post-WW I recession, wholesale prices were halved in an 18-month mini-Depression.
Likewise, after the Oil Shock I recession in 1973-74, the Consumer Price Index fell from 12.0% to 5.0% annually by the end of 1976. But then inflation got a second wind and cranked to a fresh high of over 14.0% by 1980:
https://www.bls.gov/opub/mlr/2014/images/reed-figure5.png
Could the 1970s replay half a century later? Look what started our current mess: to counter their own covid shutdown, the ‘authorities’ printed trillions and shotgunned several rounds of stimmy checks to the gen pop … during what proved to be a mere 2-month recession, the shortest ever.
What will these skittish, easily-panicked ‘authorities’ do in the face of an old-school, grinding slide that lasts for 18 or even 30 months?
If they follow the 2020 playbook — as Europe already is doing with its public bailout of utilities and household heating bills — they’ll crank up the presses once more to paper over a broken economy.
But then, inflation would take off again, just as in 1977-1980. After all, with hydrocarbon energy still scarce — by public policy — now is a mirror image of 1979-1980, also known as Oil Shock II … right down to a feckless D-party president in the White House.
Argentina, whose inflation fell to ‘only’ 35% by end-2020 and now is closing in on 80%, shows how currency printing as habitual policy produces an inflationary slump.
We’re all gauchos now, comrades. My fuel-less truck for a horse!
Jim,
“as Europe already is doing with its public bailout of utilities and household heating bills”
In the case of Europe, it matters not how much monopoly money Europe throws at people’s energy costs if there is no product to buy.
This is reminiscent of Stalin plucking feathers and then giving a little treat to (we) the poor animal(s).
Exactly, James –
The tactic is to make the victim grateful for what he gets – after taking almost everything he has. I harp on this – but I think it’s necessary: These people are not merely incompetent but well-meant. They are malicious – and it is deliberate.
Eric, see my above comment WRT the SPR.
They break your legs and expect praise for giving you crutches.
Speaking of temporary reprieves, the Biden Thing has also declared the “pandemic” to be “over.” Much like the gas price reprieve, wonder how long this one will last?
Hi Jim
I am of the belief that the COVID Plandemic is over and will be replaced by the introduction of the digital dollar. They needed time (with no questions being asked) to implement it. Watch your bank accounts! Some banks are introducing policies that are an obstruction to using cash.
Just a few I have heard of and a couple that I experienced:
1. Not being able to deposit cash in another’s account
2. Tellers no longer accepting cash…can only be deposited through ATM machine
3. Putting caps on the amount of money deposited – this includes checks
4. Requiring ID and SSN for depositing cash to your personal or business account
5. Capping cash withdrawal limits
6. No longer allowing tellers to hand cash over…only to be extracted through ATM
I wouldn’t be surprised if the the Feds were limiting the money supply by pulling cash from the system.
hmmmm, this will be interesting. it hasn’t happened to our biz yet. We deal in large equipment purchases, so we’ll see. I’m guessing that ‘our’ bank will make an exception for us?
People will start moving to barter.
Hi Chris,
The one that through me for a curve ball was that mobile business banking deposits (checks and cash) not just cash are capped at $10K per day. Deposits! I am not withdrawing funds just putting money into the account. This is laughable (if it wasn’t so damn terrifying). For “larger” businesses you can get a supervisor’s permission and they will increase the mobile limit to $50K per day. Any higher amount must be deposited in person at the bank.
This was never an issue before until a larger bank bought my smaller community bank. It has been a Pain in the Ass ever since. My county has one smaller bank left (just merged with another small bank). I am moving the accounts over, but I am sure it is just a matter of time until they are bought out too.
RG,
In settling my late father’s estate, I drew a cashiers check for about $30k payable to my son. Like me, he is averse to trusting banks with his money, and attempted to cash it. It took him over half a day, and going to 6 different banks of the main branch variety before it happened. Not because they refused the check, or had a dollar limit, but because they didn’t have sufficient dollars on hand. This included the bank from which the check was drawn.
Hi John,
Yep, most of the banks do not have more than $5K available for withdraw at any given time. My aunt tried withdrawing a large sum of money and had to wait two days for them to gather more funds. A rush on the banks would allow maybe two people to withdraw their funds.
I keep very little in the bank. If I make a deposit, I will immediately pay bills (even prepay some of them) just so I don’t have too much money in the hands of the cartel.
Money is speech.
Anonymous speech is a constitutional right.
Anonymous money is a constitutional right.
Therefore, there is a constitutional right to transact anonymously in cash.
Hi RG
Where Central Banks Have Issued Digital Currencies
The advent of CBDCs could also mean that money and economic participation will become privileges, not rights. Digital trade could be tied to a social credit system, much like the one that exists in communist China.
Want access to your checking and savings accounts? Better not say anything critical of the establishment, or you could be reported by a neighbor or stranger by cell phone app and have your money disappear in seconds. The onus will then be on you to prove that you are “loyal” and get access back. You are guilty until proven innocent.
Maybe you don’t want to take the next untested mRNA vaccine for the next dubious pandemic threat? You’ll have little choice if your ability to function economically is controlled digitally.
This is the world we are facing if we allow central banks to fully digitize money and trade. It is a nightmare environment of complete authoritarianism. The public at large is mostly unaware of the incredible danger inherent in CBDCs and they must be educated before the current crisis grows so large that they can no longer focus on anything other than their own problems.
from zh comments:
Social media and media in general is the anti christ..
Your cell phone is the vessel
And cbdc is the mark of the beast
How about throwing out some solutions or potential solutions that could be investigated?
1. Precious metals, land, barter
2. Trusts, LLC’s and other corporate structures
3. decentralized Digital currencies [?]
Theres a few worth considering. Certainly better than sitting around waiting be enslaved.
https://www.zerohedge.com/crypto/where-central-banks-have-issued-digital-currencies
The end of cash
A deep dive into what the new CBDC central bank digital currency is, the issues it causes and when it is coming.
How it might be used after the crash of the everything bubble to try and manage the mess and how it can be used as a political weapon.
https://pro.paradigmnewsletters.org/p/awn_cday_0522/LAWNY6AF/?cake_s1=09_74551163_c64a4f96-d045-4cc8-9363-65703490c71b&h=true
Is the FED Setting a CBDC Recession Trap?
“Inflation Reduction Act.” Buried in the text of the bill and a March 2022 Executive Order from Joe Biden are fine-print passages about a new financial technology that the U.S. government will enact and pilot. It’s called the Central Bank Digital Currency (CBDC).
Unlike Bitcoin, the digital currency is controlled by the federal government. While they maintain control over factors like interest rates within the currency, they also have built-in mechanisms that include “programmatic algorithms” in the currency.
These algorithms amount to Chinese Communist-style control over your money. How fast you can spend your money, where you can spend it, and even the things you buy will be subject to “government approval” before the transaction is approved.
Anything that can be controlled and regulated from a purchase or transaction standpoint would be at the mercy of U.S. government algorithms. Drive a gas-powered vehicle? Your digital currency account will only let you spend so much money each month at the pump. It sounds unbelievable, but this is what is on the horizon.
https://www.zerohedge.com/sponsored-post/fed-setting-cbdc-recession-trap
My suspicion is that if the Biden Thing somehow retains power in Congress after the upcoming elections, they’ll double, triple, or even quadruple down on COVID tyranny such as mandating that those who’ve been jabbed get those brand new booster jabs that the FDA authorized based on not any human studies, but a study of a few mice.
They may even try to implement MORE of what the Technocratic elites at the WEF want, such as abolishing private ownership of gas powered cars and forcing the masses to eat bugs. Fortunately they didn’t get their dreams of “vaccinating” the ENTIRE American population and subsequently implementing Vaccine Passports, but there’s something else that those running the Biden regime could get and that’s turning the ENTIRE human population into human/ machine hybrids, as Biden also signed an Executive order last week to establish an “All of government” plan for transhumanism, genetic engineering, and essentially programming biology like it’s some sort of computer system. And Joe Biden wonders why he’s so unpopular lol. NOBODY that I know of voted for the agenda of a few technocratic billionaires at the World Economic Forum, but it has become increasingly obvious over the past year that that’s what the Biden Regime is pursuing.
HAHA….those injections were safe and effective, had lots of safety checks…lol
bringacoffin
The bureaucrats behind this killer vaccine KNOW what happened in previous animal testing with mrna vaccines. When animals were vaccinated against the virus and then exposed to it after vaccination against it, ALL OF THEM WENT INTO A CYTOKINE STORM. This is when the immune system attacks itself destroying every organ in the body. It is a rapid death. IT KILLED EVERY ANIMAL IN THE STUDY. cool, a vaccine with a 100% death rate.
The only other RNA vaccine ever approved killed the horses it was supposed to save.
Now you know why they SKIPPED ANIMAL TESTING. They will give everyone this vaccine and then release another virus. skipped animal testing, the useless eaters are lower than animals.
The DNA-based use reverse-transcriptase (like HIV uses) to change your DNA to incorporate the SARS-Cov-2 spike protein into your own DNA so it can be expressed at semi-random times like the mRNA vaccines do. This is equivalent to planting random time-delayed grenades throughout your entire body.
the bottom line is that the vaccine is UNSAFE and downright dangerous being an elixir mixed in hell’s real kitchen, and made up of “aborted fetus tissue”, “half mouse half human chimera tissue”, hydrogel: a biosensor which would monitor your body as well as send and receive information to the 5G Smart Grid.
Autoimmune disorders of all kinds (allergies, psoriasis, MS, rheumatoid arthritis and many more) have exploded as vax mania gripped the world over the past 30 years. It’s not a surprise. Vaccines by their very nature disrupt the immune system.
all you really need to do is look at the decline in overall health over the past 30 years and it’s pretty obvious that vaccines play a big role. 1/3 of American children have chronic, lifelong health conditions now. I’m sure it has nothing to do with the 72 shots they take.
what about the vaccine industry’s little-discussed reliance on DNA from species such as birds, dogs, monkeys, cows, pigs, mice and insects in vaccine manufacturing. Noting Béchamp’s belief that “an organism’s microzymas are unique to it, and are not interchangeable with those of another,” Béchamp would disapprove of introducing microzymas “proper to one species. . .into an animal of another species”—which is exactly what vaccines do.
How. . .foolhardy is it then, when vaccinal microzymas are not only from another species, but are already morbidly evolved and are accompanied by preservatives, formaldehyde, and other chemicals? There is no sanity whatever to this practice.
we hear that muslims and jewish can’t and shouldn’t get the Vaccine, due to it containing pig ingredients. christians because it contains aborted fetus tissue. now we hear that it will infect or disable your testicles.
researchers say: To protect fertility, some men may want to consider freezing their sperm prior to vaccination
And this mRNA shot is pure madness if you care to look. The technology was patented in 1991 and has never been used on humans (so you get to be the first guinee pig, good luck with that, bringacoffin) because every single animal study has shown horrific results. Do not get this shot no matter what they say. It’s very, very bad.
Vaccines to cure a Hoax virus that nobody can isolate, identify or photograph (yes, not even one virus), (the chinese dug out something from somebody’s lung, it was actually an exosome, these people are nuts they believe in fake science), changes your DNA in unknown ways and people line up for it. They must be crazy.
mRNA vaccines hijack the body’s cells, invading ribosomes and causing them to churn out non-human proteins which invade the blood. These proteins cause the body to attack itself in a “cytokine storm” of inflammation and autoimmune disorders, resulting in neurological damage, infertility, tissue damage and even death.
another reason not to trust blindly any company currently producing vaccines in the United States. Each one of the four vaccine producers “is a convicted serial felon: Glaxo, Sanofi, Pfizer, Merck.”
“In the past 10 years, just in the last decade, those companies have paid 35 billion dollars in criminal penalties, damages, fines, for lying to doctors, for defrauding science, for falsifying science, for killing hundreds of thousands of Americans knowingly.”
MRNA vaccines intervene directly in the patient’s genetic material and, therefore, they change individual genetic material, which represents genetic manipulation, something that has been banned and so far considered criminal.
after unprecedented MRNA vaccine, you will no longer be able to treat vaccine symptoms complementarily. They will have to live with the consequences, because they can no longer be cured by simply removing toxins from the human body, just as you can’t cure a person with a genetic defect such as Down syndrome, Klinefelter syndrome, Turner syndrome, Disease genetic heart, haemophilia, cystic fibrosis, Rett syndrome, etc. ), because genetic defect is forever! dead or permanently disabled, gimped.
the cv19 hoax created a great opportunity to force inject a dna vaccine or insert chips, nano wires, nano particles, 5g is being installed to connect you to the cloud and data mine you. goal: depopulation, steralization, behavior modification, total control and a cull.
These new vaccines are not vaccines, installing gmo technology, chips, wires, etc. is not a vaccine, but they say it is to avoid liability, vaccine manufacturers can not be sued. if they say it is a vaccine it can be mandated (forced), these new injections are not vaccines but they say they are so they can be forced. if there is insurance involved, you save the insurance company lots of money. this is insurance fraud.
who is responsible for cv19 hoax? nwo/cabal/ccp/globalists who is in it? the .0001% billionaires and their huge corporations, big tech, big pharma, big oil, big media (all the media), twitter, facebook, google, big banks, etc, china was chosen to lead it.
Psychopathic members of an occult satanic death cult running the planet, planning your horrible future. religious fanatics ramming their poisonous vaccine down your throat….vaccines/germ theory = religious fanatics, the new covid religion. a satanic cult that believe in eugenics, slavery, transhumanism and fake science.
pope is part of this cult.
https://vaccineimpact.com/2022/the-virus-hunter-dr-stefan-lanka-belief-in-viruses-is-a-religion/
Rumble has a short video of Dr. Hararai, top advisor to Klaus Schwab, wherein he talks/brags about the vaccines being carriers of the necessary ingredients so that the elites can “hack” our bodies controlling our thoughts and actions. He actually says we must get use to the idea we are no longer mysterious souls. Evil.
Fauci, Schwab, brandon, blackface and others that like forcing these injections maybe have the same defective personality that Pearl has in the movie Pearl….lol….
https://www.imdb.com/title/tt18925334/