Free Republic

As Lira Implodes, Turkey Proposes Huge Fines For “Hoarding” On one hand Turkey’s currency is crashing because the country’s ruthless despot refuses to allow higher interest rates (in hopes the ensuing hyperinflationary collapse will cover his pillaging of Turkey’s wealth as he will simply blame “foreign financial terrorists” for what has been the biggest heist of Turkey’s wealth in modern history). And sure enough, the TRY fell another 2.75% today to a fresh all time low ahead of tomorrow’s insane rate cut by the Turkish central bank which will send the lira plunging even more in the coming days and...

A few months ago, when prices began to spike throughout the U.S. economy, Americans were told not to worry, it was just a temporary blip. On several occasions, President Biden and high-ranking officials in his administration claimed the current bout of inflation was “transitory” and would subside sooner rather than later. Yet, as the months tick by, inflation is getting worse, not better.

Inflationary pressures on the U.S. economy are getting so bad that even The Washington Post acknowledged that media arguments banging the transitory drum are falling flat. The Post economics correspondent Heather Long wrote a damning news piece headlined, “Uncomfortable inflation is here, and it’s changing the economy.” Long wrote: “American families and businesses are altering their habits as they increasingly believe high prices are here to stay.” Long reported that “[n]ews this week that U.S. inflation is running at a 13-year high of 5.4 percent confirmed what many Americans already know as they juggle their budgets: Food, energy and shelter...

Liberal Twitter CEO Jack Dorsey shocked the Twitterverse with a warning about impending hyperinflation in the world, and predicted it would soon hit the United States. Dorsey, who oversees one of the largest offenders of Big Tech censorship, didn’t pull any punches about the danger: “Hyperinflation is going to change everything. It’s happening.” Twitter went berserk, with over 3,600 retweets and over 15,000 likes just over an hour after the tweet was posted.

And even all that spending isn’t enough: Social Security’s “unfunded liabilities” — how much money the government would need today to make up the difference between the money that will be paid into Social Security in the future and the benefits that have been promised — is about $40 trillion. How much is $40 trillion? It is all the money in the world — literally: All the cash in circulation, plus all the deposits in checking accounts and savings accounts, adds up to about $40 trillion. That is a big hole to climb out of. Just as inflation can cause...

Snip: Yellen also warned that not raising the debt limit would injure the economy in July. This issue was not addressed in the $5 trillion of spending pushed through last week. Newsweek reported in July: Treasury Secretary Janet Yellen warned members of Congress on Friday that if the debt ceiling is not raised, it will risk “irreparable harm to the U.S. economy and the livelihoods of all Americans,” according to the Daily Caller. In a letter to House Speaker Nancy Pelosi, Yellen expressed that she did not know how long the Treasury Department could keep the United States from defaulting...

Saudi and Russian officials Tuesday announced the signing of military cooperation pact between the two countries. Saudi Defense Minister Khalid bin Salman announced the agreement via Twitter, stating it would aid in “developing joint military cooperation between the two countries.” In a second tweet, he elaborated on his meeting with his Russian counterpart, Sergey Shoygu, in which the pair explored ways to “strengthen the military and defense cooperation between our two countries.” I signed an agreement today with the Russian Deputy Minister of Defense Colonel General Alexander Fomin between the Kingdom and the Russian Federation aimed at developing joint military...

...Despite the federal government spending a staggering $5.3 trillion since March 2020 and the passage of a $1.1 trillion infrastructure bill, Biden and his fellow Democrats are pushing additional spending as part of a $3.5 trillion budget reconciliation package. An independent analysis by the nonprofit Committee for a Responsible Federal Budget estimates that the real costs of that package are over $5 trillion if scored honestly. Those numbers aren’t just staggering, they are all but unfathomable... It doesn’t take an economist to see the inflationary impact. Restaurant Business, an industry publication, recently ran an article bluntly titled “Yes, It’s OK...

As of Friday, over 2.3 million people had signed a Change.org petition urging lawmakers to pass legislation for recurring $2,000 monthly payments. Initially, 21 senators, all Democrats, signed a letter to President Biden in late March supporting recurring stimulus payments

At the start of May, when observing the avalanche of “higher inflation” mentions on Q1 earnings calls, which had quadrupled YoY; and jumped by a record 800% YoY…… BofA chief equity strategist Savita Subramanian summarized the current state of affairs as follows: “On an absolute basis, [inflation] mentions skyrocketed to near record highs from 2011, pointing to at the very least, “transitory” hyper-inflation ahead.”Needless to say, a “serious” bank warning of hyperinflation – transitory or otherwise – was enough to spark very serious concerns that the Fed was losing control of prices, a panic which only grew after Deutsche Bank...

It has been a week of staggering home prices increase news which has seen the median existing home price surge to a record $350,000…… up a whopping 24% from a year ago…… while today we learned that the median new home price surged 18%, also to a record $374,400 (the average selling price was also a record $430,600)…… the result being a collapse in homebuyer sentiment…… leading to a sharp slowdown in actual sale transactions, as the soaring prices start to adversely impact the broader market.Remarkably summing up what’s going on in the housing market, veteran housing analyst Ivy Zelman...

A little over a month ago, BofA spooked even the most dovish elements on Wall Street and in the Marriner Eccles building, when the bank said that judging by the explosion of references to surging prices in Q1 earnings calls, the bank concluded that this “pointing to at the very least, “transitory” hyper-inflation ahead.” Yes… really: Fast forward to today when BofA’s economist Alex Lin quantified what his bank qualified to so many shocked gasps one month ago. As Lin writes, with core CPI inflation at 3.8% yoy in May, “we must assess how much of the acceleration in inflation...

Consumer Price Index (CPI) data for April came in much hotter than expected. Year-on-year, inflation is up 4.2%. The big number even prompted Federal Reserve Vice Chairman Richard Clarida to say, “We were surprised by higher than expected inflation data.”Peter Schiff appeared on Tucker Carlson’s show to talk about the consequences of more printed money chasing fewer goods. Peter said inflation is going to hit the middle class harder than the pandemic.Peter said this hot CPI print is a cause for concern and ultimately it is a tax.It is the inflation tax. And if you look at how much the...

BofA: "Transitory Hyperinflation Ahead" Last week, when discussing the latest earnings call commentary, Bank of America said "Buckle up! Inflation is here", and showed a chart of the number of mentions of “inflation”… Last week, when discussing the latest earnings call commentary, Bank of America said "Buckle up! Inflation is here", and showed a chart of the number of mentions of “inflation” during earnings calls which exploded, more than tripling YoY per company so far, the and the biggest jump in history since BofA started keeping records in 2004. Who knew that just one week later BofA would need a...

Well looky here, MSM finally noticed that prices might be inching up a tad: Don’t worry though: it’s just transitory.Quick: name the last time this country experienced hyper-inflation. *hint* I’m guessing the ‘Bidens-in-a Hobbit-house’ effect is the result of either an amateur or an auteur photographer. Either way it’s a pretty clever illustration: the incredible shrinking Carters symbolizing the incredible shrinking dollar that comes with hyper-inflation. Doesn’t appear to be that transitory from my perspective though.Posted from: MOTUS A.D.

Hyperinflation is starting to set in. Individuals who study history, economics and the present situation realize we are entering a period of out-of-control inflation. This will destroy the wealth of everyone but those who are able to raise the price of their labor/goods to match the market. Those who can't will perish economically. The very wealthy are obviously very aware of this. They are buying land/houses/goods which they can finance long-term knowing they will pay back those loans with inflated dollars, making the items they purchase extremely cheap. Or, some are buying every piece of land they can get their...

What is Hyperinflation?Historically, hyperinflation is often associated with wars, their aftermath, sociopolitical upheavals, or other crises that make it difficult for the government to tax and govern the population. But those are just the symptoms.Hyperinflation is a man-made disaster arising out of the collapse of the currency, and preparing for it is no different than preparing for a hurricane or tsunami. You may get a little bit of a warning, but you need to act quickly. This article covers the financial preparations that, if made before the disaster strikes, will provide you with additional layers of protection.Leading up to the...

Violent protests erupted across Lebanon on Saturday after the country’s currency plummeted to a new record low, amid an economic crisis that poses the biggest threat to its stability since the 1975-1990 civil war. The Lebanese pound has lost roughly 85 percent of its value in recent months and slid to a record new low on Saturday, falling to 12,500 pounds to the US dollar on the black market, though the official rate remains at roughly 1,500 pounds to the dollar. In response, there was a protest near the parliament in Beirut, during which protesters briefly stormed a reinforced gate...

They are assuring us that we don't have to be concerned about "inflation" because they have everything under control. Do you believe them? The value of the U.S. dollar has been steadily declining for a long time, and most Americans have grown accustomed to having the cost of living rise at a faster pace than their paychecks do. But over the past 12 months an enormous paradigm shift has begun. Instead of devaluing our currency a little bit at a time, now our leaders are going "full Weimar". Our money supply is growing at an exponential rate, and this is...

Folks...it is becoming apparent that the Democrats are pursuing policies that are going to collapse our economy. They are also taking steps to make sure they never leave power. What is a person to do? We have the examples of Argentina and Venezuela clearly before us. Anyone have some helpful ideas? Ferfal of Argentina has a blog spot and wrote a book, but information from our situation here would be helpful.