Remember, You Bought It Scamerica
What was “it”?
The claim that money printing wouldn’t cause prices to go up.
The claim that the “recession was over’ due to Obama’s policies.
The claim that “saving the banks saved us from a second Depression.”
The claim that “the economy is recovering.”
The claim that you’d “feel wealthier” due to rising stock prices.
Well, how’s it working out? The labor participation rate is at the lowest point in decades:
The cost of living, on the other hand, is a “bit” higher than it was in the 1970s and early 80s:
Of course we could look at food separately, if we wanted too. That would be a great study in “stable” prices, right?
Uh, maybe not.
How about medical care? That hasn’t gone up a lot, right?
All of this is, of course, considered “compliant” with The Fed’s legal mandate to provide monetary policy that results in “stable” prices. Does that price index look “stable” to you? Has anyone been removed from office – or prosecuted – for these obvious, rank and intentional violations of The Fed’s mandate?
No, because you haven’t and won’t demand that it occurs, doing whatever is legal and necessary, including going on a general strike and by doing so refusing to labor, thus cutting off the government’s source of revenue, until the government enforces the law.
Hmmm…. and now we have this:
U.S. consumers face “serious” inflation in the months ahead for clothing, food and other products, the head of Wal-Mart’s U.S. operations warned Wednesday.
Yep. I’ve been noting the problem since last August, when the PPI numbers started to spike. Those prices, along with the prices-paid indicators in the regional Fed indices, presage what the consumer actually sees by nine months or so. It takes time for crude goods and then intermediate goods to work their way through the supply pipeline. But once those increases are in the pipeline nothing can stop them from coming out the other end.
And come out they will. This is going to severely harm consumers, especially those in the middle and lower end of the economic strata. You’re the people who have seen no material gain at all in your income over the last decade and hid the impact of rapidly-rising prices with more and more debt. You’re the ones that, in the main, hit the wall during the 2007 time period and caused the implosion of the great debt Ponzi. The people who the banksters irresponsibly loaned money to knowing full well they couldn’t pay, except by finding more and bigger suckers on a serial basis – a numbers game that is always eventually lost.
Can this impact be avoided at the present time? No.
Will America force the banksters to take their medicine, go out of business, and jail those who caused this mess? There’s no evidence that Americans will do so. They will instead believe the lies, scams and frauds put forward by our politicians that “we’re recovering”, even though that “recovery” has done nothing for the vast majority of people in this nation – nor will it.
Buckle up folks. The pig in the python is reaching the exit door, and I don’t think it’s going to come at you slowly when it does exit either.