Friday, March 20, 2015

The Sarcasm Report v.210

March 20, 2015
Peter Schiff won't back down: 'The dollar is going to crash, buy gold'

“There’s a new mantra: ‘price stability is bad. If we don't force consumers to pay more for things they need and want, all hell's going to break loose,’” he quips.

A new mantra? Seriously? I was under the impression that Fed induced inflation has been going on for twice my lifetime, and I'm 50 years old.

Federal Reserve System

Established December 23, 1913 (101 years ago)

Might just as well sound the alarm bell on other "new" things coming our way.

January 26, 2010
Radio Activity: The 100th Anniversary of Public Broadcasting

Not everyone embraced the radio or understood how it functioned. The resulting mystery left some Americans wary. Were electromagnetic waves responsible for droughts? Skeptics blamed radios for the vibrations of bed springs, the creaking of floorboards, even a vomiting child.

There's another new mantra: 'Hell hath no fury like a woman's corn... projectile vomiting from the mouths of her children.'


Shookie said...

Must keep that money moving or it won't float to the top!

After all, we wouldn't want hard working people that save to get anywhere, right?

Troy said...

"save" ???

62% of Americans can't cover unexpected expenses

Thing is, overall, life actually isn't inflating all that much.

I've been an independent wage earner and consumer for 30 years now, and prices are about double what they were in the mid-80s. $1.25 gas is now $2.50, $2 aerosol cheese spread is now $4 . . .

Thanks to imports from our neomercantile trading partners, manufactured goods are actually much more affordable now -- shoes, clothing, computers.

But the BIG thing that has over-inflated to make up for that has been housing. What I rented for $400 in the mid-80s in LA now rents for $1200.

This is the big mystery spot in the economy, even Krugman in his recent blog post was ignorant of how housing has both enriched us and impoverished us, since borrowed money is both a sugar rush and a helluva crash once the rush dissipates and further hits of the MEW pipe are no longer available.

Housing is why the Fed is deathly afraid of deflation. As well they should be!

real per-capita (age 25-54) mortgage debt

Stagflationary Mark said...

Shookie & Troy,

For what it is worth, my friends are savers.


On the one hand, there seems to be two people who owe (debtor) for every one person owed (saver).

On the other hand, record household net worth! The rich must be doin' something right so far, lol. Sigh.