‘She’s hot – apart from the overalls and the boil on her nose’

It’s 3 am: The Washington Post beer-goggles the Biden economy using an old technique…



The media is now beyond any lingua franca of parody. And yet the Bee – the freakish Bee.

This entry was posted in Economics on the left, Fake News, Innovation. Bookmark the permalink.

29 Responses to ‘She’s hot – apart from the overalls and the boil on her nose’

  1. TBH says:

    This is going to get ugly pretty quickly. What do the monetary policy experts at the Cat recommend is done about it?

  2. mem says:

    Mind you, other colleague/friend noted that the problem is there’s a pile on. Too many of these idiots want to be seen to be in on the kill.

    Buy baked beans now!

  3. mem says:

    Apols above this should read.

    TBH says:
    May 13, 2021 at 6:27 pm
    This is going to get ugly pretty quickly. What do the monetary policy experts at the Cat recommend is done about it?

    Buy baked beans now!

  4. Primer says:

    The US apparatchiks are really truly just hip clones of their Soviet forebears.
    Sure, with soy lattes and tofu Twinkies, but with the same Kafkaesque constructions for their “Greater Good” meme…. that means you are immoral and therefore anything they do is fighting your immorality, no matter how criminal….it’s therefore good.
    They have no power once you know how it works.

  5. DaveR says:

    Well may we laugh:

    “Australian inflation is under control……….except for housing, rentals, hotel costs, restaurants, meat, fruit, vegetables, packaged foods, wine, services. used vehicles, vehicle parts, vehicles services, etc etc etc

    I wonder why our CPI number doesnt pick this up?

  6. Spurgeon Monkfish III says:

    except for housing, rentals, hotel costs, restaurants, meat, fruit, vegetables, packaged foods, wine, services, used vehicles, vehicle parts, vehicles services, etc etc etc

    “services”: electrickery, water rates, council rates*, gas rates, home insurance, vehicle insurance, health insurance

    I wonder why our CPI number doesnt pick this up?

    Look no further than the cloud cuckoo land crap on the ABS website attempting to explain the latest CPI figure and the relevant price increases among the goods and services in “the basket”.

    *my council rates went up 24% this financial year

  7. John Bayley says:

    I wonder why our CPI number doesnt pick this up?

    Because CPI is, and always has been, an utter BS indicator.

    Rising prices are a ‘symptom’ of inflation, not inflation itself.
    That particular animal belongs in the ‘amount of money and credit in circulation’ zoo.

    And when we check that one out, look at what’s here:

    Between November 2020 and now, those geniuses at RBA have presided over an increase in narrow money M0 from about $180B to $294B.

    This is why the stock market and property prices are so ‘hot’. It is pure inflation and it will end the way these type of policies always do.

    One good bit of news is that now that almost all of that cash is electronic, we won’t need wheelbarrows to carry the banknotes when we want to buy a loaf of bread.

  8. Spurgeon Monkfish III says:

    we won’t need wheelbarrows to carry the banknotes

    Indeed, we’ll just need pitchforks and flaming torches (and pikes – many, many pikes).

  9. Squirrel says:

    All going according to the cunning plan – inflate away levels of debt beyond imagining (and no one will ever notice that their savings have been stolen by the snake oil merchants of central banking and politics).

  10. jupes says:

    And yet the Bee – the freakish Bee.

    They make Nostradamus look like a rank amateur.

  11. jupes says:

    Does inflation have any effect on interest rates?

  12. JC says:

    Jupes

    Yes, inflation expectations are very important in determining interest rate levels. In fact, it’s about the one thing that is important.

  13. jupes says:

    Does that mean we can expect interest rates to rise soon?

  14. Dot says:

    Banks have started upping rates here.

    US PPI is quite high. US currency (monetary base, M0) growth is over +8% month to month.

    “If we exclude…there is no inflation, only joy and love in Uncle Joe’s Republic…”

  15. JC says:

    Jupes

    It depends if the central banks want to achieve the target inflation rate. For the past 20 years major western central banks have been relatively disappointing on that score and have not achieved target. At this point in time in the US, the market does sense that the Federal Reserve will achieve target as the TIPS market (inflation hedging bonds) indicate this to be so.

  16. FlyingPigs says:

    Spurgeon Monkfish III says:
    May 13, 2021 at 7:32 pm
    *my council rates went up 24% this financial year

    If you can say, what city or State region is that?

  17. John Bayley says:

    JC, going by many of your past posts, you are a smart man, with decent understanding of finance.

    So why cling to this BS of

    It depends if the central banks want to achieve the target inflation rate.

    The real inflation rate has been multiple times higher, and for decades at that, than the CPI excrement ‘index’ calculates and the central planners are apparently ‘targeting’. (And that’s leaving aside the other inconvenient facts – like that there is absolutely no reason to think 2% ‘inflation’ is better than 0%, or 1%, or whatever, or that there even is any meaningful way to measure ‘CPI’ given that ‘a general price level’ is a nonsensical concept, that money itself is not neutral and that the demand for it is never fixed.)

    The rhetoric about ‘low inflation’ and the various ways that have over time been used to cook the CPI lower serve solely to enable the government to underpay on its indexed future obligations (Age pensions etc), steal more of our savings than what they could get away with just via taxation, and to inflate away the debt they have piled up in order to fund their pie-in-the-sky, utterly undeliverable promises and the bloated public sector supposedly ‘needed’ to administer those.

    Zero interest rates, which have in fact been negative in real terms for many years, are part and parcel of that theft.

    For the government, it’s a win-win. Same with the large banks, who can create credit out of thin air, by now even without any need for reserves, lend it out at interest and then take security over real assets the serfs happen to still own.

    For the majority of the population, it’s not a good deal at all. But apparently they are mostly too dumb to work that out.

  18. John Bayley says:

    If you can say, what city or State region is that?

    I think SM III is in Sydney, but it’s no different here in regional QLD.

    Double digit rates increases happen with depressing regularity.

    As an added anecdote, this year’s rate of increase in annual fees from one of the federal government’s agencies my business has to deal with has been 38% year-on-year. Last year it was ‘only’ 15%.

    There was not even any attempt at an excuse: I simply got their bill with a note along the lines of “Pay by such and such a date, or you may lose your licence.”

    ‘May’. Righto.

    Wouldn’t it be lovely if we in private business, providing employment to people, could behave like that toward our customers?

    Assuming of course we don’t happen to operate in an industry where the government has already shut us down because of ConVid-1984.

    Bring on the revolution.

  19. Spurgeon Monkfish III says:

    If you can say, what city or State region is that?

    Sydney metro, I won’t name the council, it’s maladministered by a bunch of mongrel troglodytes. Actually, the rate increase was due to a “revaluation” of the land my house sits on, by the NSW state revenue office – around 21% of the increase. However, that is irrelevant to the fact my rates still went up by 24%.

    Mind you, the stupid bloody councils are still at it – they’ve gone to IPART demanding even more rate increases over and above inflation, which will inevitably be granted.

    Those sustainable disabled m00slamic lesbian puppet theatres won’t fund themselves, after all.

  20. exsteelworker says:

    Could it be a sign that 18% interest rates are coming back again? With all the world governments throwing borrowed money around, it sure looks like it. Good time to sell, cashed up waiting for the inevitable crash.

  21. Alex Davidson says:

    John Bayley says:
    May 14, 2021 at 7:43 am

    Very well said.

    Under our system of unlimited democracy – anything goes, as long as you have the numbers – government has degenerated into the largest criminal organisation in the country, growing via a vicious circle of plunder, handouts and protection rackets. Of course sooner or later there won’t be anything left to plunder, but until then the rational thing for many is to go along for the ride.

  22. johanna says:

    Sydney metro, I won’t name the council, it’s maladministered by a bunch of mongrel troglodytes. Actually, the rate increase was due to a “revaluation” of the land my house sits on, by the NSW state revenue office – around 21% of the increase. However, that is irrelevant to the fact my rates still went up by 24%.

    Mind you, the stupid bloody councils are still at it – they’ve gone to IPART demanding even more rate increases over and above inflation, which will inevitably be granted.

    The whole system of local government funding needs to be reformed, root and branch.

    Just because the unrealised value of your land goes up, they rake in a motza while the hapless householder’s income remains the same. It ends up forcing people out of their homes for reasons entirely beyond their control, while bloating council bureaucracies and their pet social justice projects.

    We are not seeing perfect service in terms of the humdrum tasks they are supposed to perform, like maintaining roads and footpaths, either.

    What we are seeing is an ever increasing maze of regulations and a proliferation of overpaid jobsworths to enforce them.

    Time to put the brakes on this juggernaut.

  23. John Bayley says:

    Could it be a sign that 18% interest rates are coming back again?

    Not unless & until the central banks lose control.

    At the current debt levels, even interest rates at 6-7% would immediately bankrupt most of the developed world’s governments and a substantial portion of the population.

    It is much preferable for the politicians and their central planner partners-in-crime to keep interest rates at zero, inflate as much of the debt away as they can via unbridled money printing, promise more, spend more – seemingly justified by moronic theories like ‘MMT’ – and work toward abolishing cash so as to enable them to more effectively track every last dollar we earn, as well as impose nominal, rather than just real, negative interest rates whenever they think they can get away with it.

    And judging by the apathy and overall lack of knowledge & concern the general public exhibits toward all this, get away with it they certainly will.

  24. Fair Shake says:

    Expect another protest at the Capitol. Bacon 🥓 prices have risen 10.7%

    If that doesn’t ignite the population nothing will.

  25. John A says:

    jupes says: May 13, 2021, at 8:11 pm

    And yet the Bee – the freakish Bee.

    They make Nostradamus look like a rank amateur.

    Wasn’t he a self-made man??

  26. John A says:

    John Bayley says: May 14, 2021, at 11:26 am

    Could it be a sign that 18% interest rates are coming back again?

    Not unless & until the central banks lose control.

    You make a courageous assumption that they are in control at present. In control of what, exactly?

  27. Bruce says:

    @TBH:

    “What do the monetary policy experts at the Cat recommend is done about it?”

    A few suggestions:

    Water purification equipment. And storage / transport containers.

    Non-perishable foods.

    Full combat-grade first-aid kit and the skills to use it.

    Non-prishable pharmaceuticals.

    Seeds for edible plants; pumpkins, tomatoes, etc.

    Vitamin supplements.

    Robust clothing and footwear.

    Top-grade “field” cutlery; from skinning and gutting blades to a serious “butcher’s suite.

    Serious axes, hatchets, hand-saws, etc.

    Fire-starting technology.

    Small-arms ammo and the necessary hardware AND training.

    A serious compass and proper ordnance survey maps and protective covers.

    Portable, all-weather shelters.

    A goodly collection of hand-tools, high-grade twine and rope.

    And a team of people (family?) to carry and use all of the above with skill and efficiency.

    NO gold, diamonds and other such ballast. Food and tools will be more valuable than a pallet of Platinum.

    If you have never even thought about such scenarios, you may be a bit late to the ball.

  28. John Bayley says:

    You make a courageous assumption that they are in control at present. In control of what, exactly?

    The central banks still control interest rates, and these days that does not mean just the very short-term ones.

    You may have heard that the RBA is now copying the Bank of Japan by practicing yield curve control. In other words, they create billions of dollars out of thin air and use that to buy government bonds across various maturities. Corporate bonds tend to move within certain spreads to the supposedly ‘risk-free’ government ones, so this technique has an effect across the board, to such an extent where CCC-rated junk bonds (50% probability of default within 5 years) have recently been trading in the EU/USA at record low rates.

    If you have a buyer of unlimited means, that buyer can set any price it wants, which then means those prices are for all practical purposes fixed.
    This is also the reason why hedge fund speculators buy negative-yielding government bonds; they use quite a lot of leverage and work on the fairly certain assumption that the central bank will sooner or later buy those bonds from them at even higher prices, because the CB does not need to worry about the capital loss at maturity.
    These strategies have so far been mostly rather profitable for the big boys.

    This is where we are at present. The next stage will see the major central banks, as is already the case in Japan, owning almost the entire market for government bonds, and to also a huge and growing proportion of the share index via ETF purchases. Yet again, it is alleged that the BoJ owns a substantial portion of the Nikkei.

    This massive price falsification by using fake money seemingly keeps prices elevated no matter what – because there is no longer any market to speak of.

    Ultimately though something will break and the whole charade will collapse.

    If it could continue for ever, the USSR would still be with us and richer than any other country.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.