The vast majority of the experts, including Wall Street, are suggesting that it’s highly unlikely that long-term inflation is going to get out of hand.
– Joe Biden
NORMANDY, FRANCE – Aren’t we silly, Dear Reader, fussing over inflation?
As if we were threatened by a terrible scourge… As if the Huns were at the gates of the city, ready to rape and pillage all within.
Well, we can relax. We have it on the highest authority in the world… America’s Numero Uno… jefe de todos los jefes…
…the brightest star in the whole firmament of Heaven (at least according to democratic theory)…
…that inflation is nothing to worry about. It’s not going to “get out of hand,” says POTUS.
Yes, the latest readings are shocking. Here’s MarketWatch:
Federal Reserve Chairman Jerome Powell and many economists were surprised by how much inflation has accelerated. May and June prices, as measured by the consumer price index, were up at 8% and 11.4% annual rates over their prior months.
And yes… with a $3 trillion federal deficit to finance… central banks all over the planet “supporting” their economies with more “liquidity”… and the yield on the 10-year Treasury bond sinking (signaling stagflation ahead)…
…a person with some residual common sense might be alarmed.
“Whoa…” he might say. “Time for a rethink.”
Fortunately for the authorities, thanks to public schools, Facebook, TV, Republicans, Democrats, and mainstream media… there’s not many people with common sense left.
And those remaining who can still think at all can see that the situation is completely hopeless. So there’s no reason to get worked up about it.
Ultimately, inflation is just a very pernicious and corrosive form of taxation. It ruins the economy and corrupts the society; it reduces real economic output and makes people poorer.
But these are just collateral damage. The important thing is that it permits the feds to do things the public is unwilling to pay for.
And Joe Biden is right; inflation is not “getting out of hand.” Just the opposite. The authorities have a firm grip on it.
And they intend to use it… like a sledgehammer on an egg.
Agenda of the Governing Class
Coming into focus, more clearly here in Europe than in the U.S., is the metastasizing agenda of the governing class (GC).
Emboldened by its new power (it shut down much of the world’s economy)… enriched by printing new money (an estimated $27 trillion was put into service in the last 18 months)… and enamored with its own list of fantasies…
…it aims to bring its hammer down hard.
It’s no longer enough just to keep the party going, as we hypothesized yesterday.
Nor is it enough to merely shift wealth, power, and status to itself, as every GC does.
Nor will it suffice to make a fairer, better, safer world, as it claims to want to do.
And certainly not a richer world, either… though that, too, is a pretense for many of its actions.
Nope. Now, the ruling elite intends to use its new power to create a new world. Here’s the quote from European Central Bank head, Christine Lagarde, that we showed you last week:
As the pandemic passes, we need to shift the focus from preserving the economy to transforming it. This will require us to redirect spending by both public and private sectors towards the green and digital sectors of the future.
Brave New World
Ms. Lagarde has no more idea what’s coming down the pike than we do. She doesn’t mean to prepare for the future… but to warp it so it suits her.
In a free and honest world, an economy serves the people and adapts as their needs and desires change. How much they want to work… what they want to buy… how much they save… how much they invent – they decide for themselves.
But in this Brave New World, the economy – guided and controlled by central bankers and treasury chiefs – will be brought into service to do, not what the people want, but what the GC wants.
That is, it will not respond to the many… but to the few who control its money… and its laws.
What this new world will look like exactly, we don’t know.
But we don’t think you’re going to like it.
More to come…
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