As usual we have a clusterfuck of misdirections about inflation.
The media and their DNC bosses are straightforwardly blaming Putin’s reclaiming of Russian territory for our 40-year internal destruction of our own economy. This is so blatantly stupid that nobody is bothering to discuss or refute it. Everyone recognizes that inflation has been rising for many years.
The bitcoiners and Bloomberg are taking a more subtle approach. Bitcoin and Wall Street are the same people, so it’s not surprising that their explanations are similar.
The failing bitcoin “banks” are copying and pasting this line:
The company then posted an announcement that they would be “pausing all withdrawals” due to “extreme market conditions last week and continued uncertainty involving a counterparty”.
‘Extreme market conditions’ means ‘Return to normal market conditions.’
‘Uncertainty with counterparty’ means ‘Our Wall Street investors no longer have free money from the central banks, so they’re absconding with our capital.’
Bloomberg is a bit more detailed and far more arrogant:
Americans are facing a painful drop in the higher living standards brought by ultra-low interest rates and a technology revolution. It had to end sometime.
We shudder to think what life was like in the 1980s or 90s, when air-conditioning was still a luxury, as were dishwashers; people had to defrost their freezers, we were tied to landlines, and homes had only one or two televisions — and they weren’t even flatscreens. The smartphone may not be the game changer that indoor plumbing was, but just stop and count all the ways it’s smoothed out the kinks in your daily struggle.
In the first fucking place they’ve misstated the timeline by 30 years. Air-conditioning was universal in the places where it’s really needed by 1970, not 2000. Autodefrost was also universal by 1970, not 2000. Dishwashers are not universal and not a convenience. I’ve never used one, but apparently they require the same labor as manual washing and far more time. Bigger televisions aren’t better, they just monopolize your visual field more effectively. Landlines have higher-quality sound and more reliable connections than cellphones.
In the second fucking place, American living standards have been dropping off the cliff since 1970 because Wall Street has been SLAUGHTERING US. Wall Street, in league with the government, has been steadily shipping all real jobs to China and removing all investment from real business.
Low interest rates played a big part in destroying real investment. When individuals and businesses are encouraged to save, they can take risks on real business, and maintain a business or farm through lean years. ZIRP pulls all money into the stock market where it serves no purpose except making JPMorgan richer. ZIRP also shapes people toward living on credit, which is infinitely more vulnerable to bad times and bad bankers.
The tech revolution did NOT improve American lives. It improved Chinese lives. Americans switched from TV and radio and newspapers to cellphone-based “information” and “entertainment”. Neither form is superior in terms of life quality. The only real difference is that cellphones make it possible for Deepstate to know everything we’re doing at all hours of the day.
Right fucking now I’m listening to a perfect summation of the problem. A friend of a neighbor is living in his car, parked in front of the neighbor’s house, and using the bathroom and kitchen when needed. He spends most of his time in the car, playing videogames on his cellphone. Beep beep beep bong bong bong.
In the previous “low-quality” life he would have been working in a factory. Not much fun but it would have paid him enough to support a wife and kids in a house. Now a man of his education and intellect has no hope at all.