Media Madness: Inflation Will Save You Money!

SEPTEMBER 26, 2022

NY Times:
 Inflation May Save You Money on Your Taxes

The government adjusts its tax code every year, including the standard deduction and tax brackets. Rising costs mean big changes next year.

BY ANN CARRNS

Finally — after more than one year of steadily rising costs across the entire spectrum of goods and services — a bit of good economic news from “the paper of record.” The criminal debasement of our currency is actually going to “save” us money on our taxes next year! Some astonishingly Orwellian anti-logic, from the article:

“In addition to a big boost to Social Security payments, inflation could help save money on your federal tax bill next year. That’s because the federal government annually adjusts many elements of its complex tax code, including the standard deduction and tax brackets, to reflect inflation and avoid so-called stealth tax increases.

The adjustments also mean you can contribute more next year to retirement savings and other accounts that offer tax breaks, like health savings accounts.

Happy days are here again.

Cheese & crackers! Ms. Ann Carrns — the felonious freelancer who drooled out this demented drivel — ought to be locked up in an insane asylum for spinning the ongoing econo-meltdown into a welcome “tax savings” benefit.

1. Insane-looking Ann Carrns (with her daughter’s dolls) fancies herself as a financial writer. // 2. Cheer up, Mr. & Mrs. America. All that currency debasement will benefit you come tax time! // 3. Because Uncle Sam is your friend.

First of all, the upward adjustments of the tax brackets and standard deductions only represent “savings” in terms of numbers, not actual value, which has been lost due to inflation. You see, the IRS, in its infinite graciousness, allows for the fact the dollar isn’t what is used to be yesterday — and will not in the near future be what it is today either. Indeed, that’s why the adjustments were put in place in the first place, as Carrns herself does explain:

“If the bracket boundaries weren’t periodically adjusted for inflation, more of your income would move into a higher bracket, increasing your tax bill.”

In other words, you’ll be paying “less” only because you are, in reality, earning less in terms of purchasing power.

Secondly, the various adjustments for inflation NEVER keep pace with the understated (rigged) rate of inflation. To therefore describe these adjustments as “savings” — or even break-even — is just as fallacious as referring to a 5% nominal salary increase — when under-reported inflation is at 10% annual — as a “pay raise.” It’s not.

More “good news” from Crazy Carrns:

“The adjustments also mean you can contribute more next year to retirement savings and other accounts that offer tax breaks, like health savings accounts.”

Again, the “more” contributions in this case only means more nominal dollars — not more actual value.

The most exasperating element of this horrible piece of financial propaganda comes in the form of an “Inflation F.A.Q. (Frequently Asked Questions) box — inserted into the body of the article — followed by a reply that is so incomplete that it raises more questions than it answers:

We all know “what” inflation is!

How insulting! Even the dullest of the befuddled boobs in the dimmest corner of the overlapping tyrannical Kingdoms of Normiedom & Libtardia already knows WHAT inflation is: It is a widespread rise in prices. But the High Priests at “the paper of record” NEVER tell the worshipers about the true HOW and WHY of inflation — even though those questions are just as easy to define as the “what.”

Here it is — in a nutshell:

“Inflation is the loss of purchasing power over time caused by excessive expansion (legalized counterfeiting) of the money supply — injected into the economy at unpayable compounding interest (usury) — relative to the amount of goods and services available. The debt virus is injected partly through the banking system in the form of loans (out of nothing) to businesses and consumers; and partly through the Central Bank’s purchase (also with nothing) of government bonds to fund deficits. The ever increasing amounts of debt money chasing a more stable supply of goods debases the value of all existing currency, thus increasing prices.”

There — in just 100 words that an 10-year old, or even a “college educated” economist can digest. Now why can’t the esteemed, and, we presume, very well-shekeled, Ms. Carrns do that for her readers? Hmmm? Truth simplifies. Liars (and idiots) complicate.

Adding insult to idiocy, Ms. Carrns seems to hold a very “inflated” (no pun intended) opinion of her analytical and reporting capabilities. From her Stinked-In bio:

“I’m a talented journalist covering personal finance, including health care, retirement, college saving, taxes and more. I excel at making complex topics understandable for readers. My column, “Your Money Adviser,” appears weekly in The New York Times.”

The most severely cracked up of crackpots always think so highly of themselves, and feel compelled to share that opinion with us — ever notice that?

1. The more you print and lend out at interest, the more you drive up the cost of goods and services. // 2. By manipulating interest rates and reserve requirements, The Fed can expand or contract the volume of loans to people and businesses. // 3. Expansion (recovery / boom) or Contraction (recession / bust) is also achieved through the Fed’s buying of U.S. Bonds and other securities with new counterfeit money (expansion), or the selling off of those securities which it holds (contraction).

Time To Pay Attention: 5 Points Proving America’s Inflation Crisis Is Gonna Get MUCH Worse

By Michael Snyder

If you are less than 40 years old, you have never seen inflation like this in the United States. Despite all the warnings, our politicians in Washington just kept borrowing and spending trillions upon trillions of dollars that we did not have. And despite all the warnings, the Federal Reserve just kept pumping trillions of fresh dollars into the financial system.

Now we have a giant mess on our hands, and anyone that believes that this is going to be easily fixed is simply being delusional.

Of course most Americans weren’t going to start paying attention to all of this until it started to affect them personally. Now it is affecting all of us personally, and there are millions of people out there that are becoming increasingly frustrated about the current state of affairs.

Unfortunately, this crisis appears to be just in the early stages. The following are 5 numbers that indicate that the inflation crisis in the United States continues to get even worse:

#1 The producer price index has risen at a rate of 9.7 percent over the previous 12 months.  According to CNBC, that is close to a brand new record:

“The producer price index, which measures final demand goods and services, increased 1% for the month, against the Dow Jones estimate for 0.5%. Over the past 12 months the gauge rose an unadjusted 9.7%, close to a record in data going back to 2010.”

Last week we learned that the consumer price index has risen by 7.5 percent over the previous 12 months.  Of course if the consumer price index was still calculated the way that it was back in 1980, the real number would actually be more than double the official number that we were just given.

#2 Truck trailer prices in January 2022 were 29.6 percent higher than they were in January 2021:

“A shortage of parts and labor has sent the prices of truck trailers through the roof. Truck trailer prices jumped 3.1 percent in January, data from the Department of Labor showed Tuesday. That followed a 3.8 percent increase in December. Compared with 12-months ago, trailer prices are up 29.6 percent, by far the biggest one-year jump in records going back to 1980.”

#3 The U.S. Bureau of Labor Statistics is telling us that the price of used vehicles rose by an astounding 40.5 percent from January 2021 to January 2022:

“According to data released by the U.S. Bureau of Labor Statistics on Thursday, the consumer price index for used cars and trucks jumped up by 40.5% from January 2021 to January 2022. That means within a year, the average price of used cars and trucks for urban consumers has gone up by 40.5%.”

#4 You may have noticed that you are paying a lot more at the pump these days.  If you can believe it, the price of gasoline has actually shot up 40.8 percent since Joe Biden first entered the White House:

“Between January 2021 and January 2022–President Joe Biden’s first year in office–the price of unleaded gasoline increased 40.8 percent, according to the Bureau of Labor Statistics.”

#5 The price of lumber has really been surging once again.  According to the National Association of Home Builders, this most recent surge has “added more than $18,600 to the price of a newly built home”:

“That is adding to the cost of both building a new home and remodeling an older one. The National Association of Home Builders estimated the recent price jump added more than $18,600 to the price of a newly built home. It also added nearly $7,300 to the cost of the average new multifamily home, which translates into households paying $67 a month more to rent a new apartment.”

Ouch.

I sure wouldn’t want to be trying to build a new home in this environment.

Pressure has been building on the Federal Reserve to take action, and it is being anticipated that the “geniuses” at the Federal Reserve could raise interest rates by 50 basis points next month…

“The hot inflation readings led financial markets to price in a better-than-even chance of a 50 basis points interest rate hike from the Federal Reserve next month. Inflation is running well above the U.S. central bank’s 2 percent target. Economists are expecting as many as seven rate hikes this year.”

Just recently, a reader sent me an email which pointed out that we shouldn’t have a system where an unelected group of bureaucrats gets together and determines what our interest rates are going to be.

And he is exactly right.

In a free market system, interest rates would be determined by the free market.

But we don’t have a free market system anymore.

In fact, we haven’t had one for a long time.

Of course when it comes to the economy, the guy in the White House is going to get more of the credit or more of the blame for what is going on than anyone else.

And a brand new poll that was just released has Joe Biden’s approval rating sitting at just 34 percent:

“The president’s approval rating nationally sits around 40 percent, according to several tracking averages, but a new CIVIQS poll showed it sitting at 34 percent from the 165,786 respondents surveyed.”

That is a shockingly bad number, and what should alarm Democrats even more is how bad Biden’s numbers are in the most important swing states:

“Swing states of Georgia, Arizona, Pennsylvania, Michigan and Wisconsin all voted narrowly blue in the 2020 election, but the new poll shows their approval of Biden sits in the low 30 percentages.

Arizona has the biggest split with 32 percent approval to 61 percent disapproval. Georgia sits in second with 31 percent approval to 59 percent disapproval; Pennsylvania’s split is 36 percent to 57 percent; Michigan is 33 percent to 59 percent; and Wisconsin has 36 percent approval and 56 percent disapproval of Biden.”

Unfortunately, Biden isn’t going to resign no matter how low his numbers go.

That means that we are going to have at least three more years of either Joe Biden or Kamala Harris running the country.

So we shouldn’t expect any dramatic policy shifts from Washington.

And the “geniuses” at the Fed are undoubtedly going to find even more ways to really mess things up. They are the ones that are more responsible than anyone else for getting us into this mess, and now many Americans are desperately hoping that they can get us out of it.

If you are waiting for them to fix the economy, you are going to be waiting a really, really long time.

I have been warning for years that the decisions that were being made would have severe consequences, and now those consequences have started to arrive.

We are on a road to national ruin, and those that are running things are even more blind than those that they are supposed to be leading.

You Won’t Believe Who the NYT Blames for Inflation!

Since the inception of the criminal counterfeiting, market-rigging, loan-sharking syndicate deceptively named “The Federal Reserve System” — the “paper of record” has run interference for the banksters.

Why do so many things seem to cost more now?


By NEIL IRWIN

Since the very inception of the criminal counterfeiting, market-rigging, loan-sharking syndicate deceptively named “The Federal Reserve System” (NOT “Federal,” NO “Reserves” and NOT a decentralized “System”) the “paper of record” has run interference for the banksters. Think of the Fed as the financing tentacle of the NWO octopus, and the Slimes as the communications tentacle. Seemingly different entities, but actually part of the same beast.

When the JudenFed booms up depressed stocks and the general economy with “easy money” financing, the Judenpresse sings its praises for the prosperity it has brought us.

Conversely, when the JudenFed busts the stock bubble and crashes the general economy with “tight money” financing, the Judenpresse again applauds the Fed for “fighting inflation” (which it had actually caused in the first place with its compounding debt-based currency issue!) You see, the all-wise and benevolent Judenbank can do no wrong.

This astonishingly deceitful (even by Slimes standards) article by “Senior Economics Correspondent” Neil Irwin — intended to cover-up the Fed’s responsibility for the current inflation — is the latest example of how these two con artists (the Fed & The Slimes) work together. Let’s clean up some of Irwin’s Marxist manure.

Neil Irwin serves up the usual Fake Macro Economics. Who does he blame for inflation? Wait until you find out!

Dating back for 100 years, the top men of The Fed and the top men at The Slimes have all been members of the exclusive Council on Foreign Relations
 in New York.

The “Business Cycle” is NOT organic. It is scientifically engineered by the banksters, for the banksters.

Irwin: Inflation is dragging down President Biden’s approval ratings and fueling discontent among Americans.
Analysis: The “elites” — through their perceived frontman, “Joe Biden” — are really afraid of being engulfed in an anti-inflation political backlash

Irwin: How did we get here? Who is to blame? To help you understand, today I’ll walk you through the most obvious candidates — and where the evidence looks strongest.
Analysis: The condescending con artist is framing his propaganda to make readers think that he is about to objectively educate them.

Irwin: President Biden:

Presidents have less control over the economy than headlines might suggest, but the current situation is an exception to the rule. You can draw a direct line from a specific policy decision that Biden and congressional Democrats made this past winter to some of the inflation happening now.

In designing the stimulus that Congress passed in March, Biden’s administration went big, with $1.9 trillion in pandemic relief — on top of a separate $900 billion package that passed three months earlier. Put the two together, and $2.8 trillion in federal money has been coursing through the economy this year.
Analysis: Wow! Two whole paragraphs of solid truth! How can this be? This has gotta be an obligatory “limited hangout” — soon to be followed by the liar’s classic “yeah but” trick.

Irwin: But ….
Analysis: There it is! — Now comes the bullshit.

Irwin: For all the trillions spent, Americans’ purchases through the end of September were only about $52 billion higher than would have been expected in a world where the pandemic never happened. I take that as evidence that the inflation story is more complicated than just too much money floating around.
Analysis: Of course, it’s “complicated” — but Professor Irwin will “walk us through,” I’m sure — as he predictably scratches Biden off of his list of inflationary culprits.

Irwin: The Fed:

The nation’s central bank has kept ultra-easy monetary policy in place for far longer than in past economic cycles.
Analysis: Exactly right. Tell it, Irwin. Tell it! — How much youse guys wanna bet that another “yeah but” is coming next?

Irwin:But …
Analysis: Oh how well do I know these slippery sons-of-bitches!

Irwin: Chairman Powell and other policymakers might be fighting the last war. At a minimum, the Fed has not played its traditional role of pre-empting an inflation surge by deliberately slowing the economy. That said, monetary policy takes a long time to affect consumer prices, so it’s not a given that the inflation situation would be terribly different now if the Fed had started raising rates already.                                                                                                                                                 
Translation: You can also scratch the innocent Fed off of the list of suspects for the worsening inflation.

Hmmmm. If it’s not Biden and the Demonrat’s fault — and it’s not the Fed’s fault — then where are we going with this “investigation” of yours, Mr. “Senior Economics Correspondent?”

Irwin cites the Demonrats’ massive “stimulus” spending — then “yeah buts” us into another direction. 

Irwin cites the Fed’s “printing press”— then “yeah buts” us into another direction. 

“Yeah but.”

Irwin: Corporate America:

When the pandemic shut down the world in 2020, operations managers at companies concluded: We need to do whatever we can to survive. Automakers cut back production and orders for new supplies. Airlines canceled orders for new jets. Energy companies canceled drilling projects. Companies laid off workers.

We’re still dealing with the effects of those decisions. Now, automakers are wishing they hadn’t canceled orders for semiconductors, car rental companies are struggling to add vehicles, shipping prices are through the roof, fuel prices are spiking, and companies are wrestling with labor shortages. What seemed like sensible decisions turned out to be wrong for the actual economy.

Translation: Ignore the wild Federal spending and the historic explosion of the monetary base / debt-money supply. Inflation is the fault of poor decisions made by “capitalists.”

HO–LEE–SHIT — This brazen Bolshevik bullshitter needs to have his forked-tongue ripped out with a pair of pliers. But the worst is yet to come. Let’s see who the next “culprit” behind inflation is.

Irwin: All of Us:

We shifted our spending toward stuff, rather than services. Americans purchased 18 percent more physical goods in September than they did in February 2020, while their consumption of services fell. Because demand for such goods is off-the-charts high while supplies are limited, they are more expensive.
Translation: It’s your fault, Americans!

Irwin: And many of us elected to stop working, or work less. The shortage of workers has led employers to offer higher wages to attract employees. That fuels price increases.
Analysis: Half truth. Irwin completely ignores the fact that employees — even during “normal” times — constantly require higher wages because the value of the dollar is constantly being debased. Irwin is blaming wet sidewalks for the rain.

Irwin: The Takeaway

The great shift in Americans’ purchasing and employment patterns prompted by the pandemic look like the primary culprit in this bout of inflation. That means the future of inflation depends on how quickly Americans return to more typical spending patterns and more people go back to work.
Analysis: The “yeah but” punchlines of this horrible reality-inverting article should actually be the secondary points (“supply chain” issues, labor shortages etc) — and the limited hangouts about the “stimulus” spending and the Fed printing press should be the “yeah buts.”  As inflation worsens, even the most dim-witted inhabitants of the overlapping Kingdoms of Libtardia and Normiedom aren’t going to swallow this convoluted crap. Irwin and his paymasters know it — but (((they))) are desperate to protect the Fed and somehow try to thwart the coming 2022 devastation of the Demonrat Party.

Dumb old White men in corporate board rooms caused the inflation? 

Unsuspecting “consumers” caused the inflation?

No one is going to buy this bullshit.

Evil Media is Blaming Inflation on the “Global Supply Chain.”

Have you noticed how Fake News is blaming the breakdown of the “Global Supply Chain” for the ever-worsening inflation we are seeing? It’s a LIE!

OCTOBER 25, 2021

NY Times:Consumer Goods Prices Rise as Manufacturers Grapple With Higher Costs.

Higher costs caused by pandemic-related supply chain disruptions.

Have you noticed how everyone who’s anyone in Fake News and Quackademia is now blaming the breakdown of the “Global Supply Chain”for the ever-worsening inflation we are experiencing? The snarling of the “Global Supply Chain”– the “experts” say — coupled with  increased post-lockdown “pent up” consumer demand — has caused shortages and slowed deliveries. More demand AND less supply equals higher costs. Simple economics, right? Well, if that’s the case, then it should mean that as soon as demand stabilizes whilst we manufacture more stuff — we will see the prices of our steaks, eggs, milk, toothpaste etc. all drop just as rapidly as they’ve gone up in recent months, right? (rolling eyes sarcastically).

Yenta Yellen – Treasury Secretary & former Fed Chair – reassures us:

“On a 12-month basis the inflation rate will remain high into next year, but I expect improvement (in the rate) by the middle to the end of next year – second half of next year.”

Key word: “rate.” — You see, though the rate of inflation may come back down to an “acceptable” 2% (don’t bet on that either), the already “baked-into-the-cake” price increases will never roll back. That’s because the problem with the “Global Supply Chain” (a big factor of which has to do with California’s crazy anti-trucker laws) has got NOTHING to do with the debasement of our currency’s value. The “powers that be” understand this very well — but because their counterfeiting / loan sharking / market rigging crime syndicate that is the Federal Reserve System must be protected at all times and at all costs, “they” want you to believe that our current inflationary woes are mainly the result of some esoteric bullshit linked to the “Global Supply Chain.” 

Supply chain problems actually make a good case for the U.S. (& all nations) to change their over-reliance on the “global economy” and make more stuff at home, closer to the actual markets

California’s recently enacted labor and
 “green” 
restrictions adversely impact independent truckers — many of whom no longer wish to pick up hauls at California ports

he record backlog of container ships at California ports has got nothing to do with the “Global Supply Chain.” The stuff is arriving in port but there aren’t enough truckers present 
to quickly unload the containers, deliver them all, and then return the much-needed containers
 for reuse.

Freight Waves

ShipTechnology.com

Business Insider

American Shipper

BBC

The nonsensical article repeats the fallacy about “higher manufacturing costs” and “increased labor costs” having to be passed onto customers in the form of final retail inflation. That’s like saying that wet sidewalks are causing the thunder storms. Price inflation is actually caused by the Federal Reserve’s never-ending infusions of debt-based currency into the economy. This is being done via the banking system (residential & commercial real estate & mortgage refinance boom) and also through direct loans (bond purchases) to the government (Covid-related “stimulus,” payments to hospitals and individuals etc.) The bubble caused by this tsunami of credit had been previously limited to the stock and real estate markets — but now, everything is being blown up. Been to the grocery store lately?

The eye-popping Monetary Base chart below was published by the Board of Governors of the Federal Reserve System. If “the paper of record” had any integrity, it would appear on its front page for all to see the obvious cause & effect linkage  between the production of debt money to fund “Stupid-19” and the inevitable increase in prices. It is the simplest darn chart you’ll ever see. Have a look — a good look. 

UP, UP AND AWAY!

Fed lending to the member banks and the government put us on the artificial life support which kept the Obongo economy afloat from 2009-2016. The next great inundation of funny money — always through interest-bearing loans — came with the lockdowns.

We don’t know how much longer “the usual suspects” will be able to get away with blaming this frightening inflation on the Scamdemic’s effect upon the  “Global Supply Chain”. It truly is blood-boiling to have to read their blame-shifting bullshit. Here’s a sample, from the article:

Slimes: The pandemic has disrupted nearly every aspect of the global supply chain — that’s the usually invisible pathway of manufacturing, transportation and logistics that gets goods from where they are manufactured, mined or grown to where they are going.
Rebuttal: “Every aspect” of the “Global Supply Chain” ? Seems to this reporter that the only broken links are at the massive ports of California (and, to a lesser extent, certain east coast ports as well)— yet not a single mention of the true causes of the unprecedented California backlog of nearly 500,000 essential containers!

Slimes: At the end of the chain is another company or a consumer who has paid for the finished product. Scarcity has caused the prices of many things to go higher.”
Rebuttal: So, it is “scarcity” which is causing prices to rise, eh? The doubling of the monetary base (at interest!) has got nothing to do with it?

In that case, fuck it! We should print even more debt money — like (((they))) did in Wiemar Republic days. Let’s just hope that the political turn of events which comes out of this looming crisis will be similar to that of Germany 1932 — know what I’m sayin’?