You know, the government likes to print lots and lots of money without anything to back it up, but they get really, really mad if you do it yourself...
This system is so F’ed.
Does the average american not know whats going on? Or do they just not care?
With interest costs eclipsing $1 TRILLION per year real soon, we are really screwed. It's a classic "spiraling out of control" or, in the more popular current vernacular, a "doom loop." Or, in my engineers world, "positive feedback" with Gain >> 1.
Yep....way back in the aftermath of Jimmy Carter’s misery index is when credit card rates ballooned. They’ve never really come down after that other than the odd promotional loss leader they sometimes offer for balance transfers. Government is the same way.
The news media reports on the economy in ways that try to distort what is really happening. For one they have introduced the term Disinflation. Dis inflation is simply no inflation. Or inflation at zero. It is not deflation. So prices are not going down. They are staying high.
Inflation has to continue. Because lots of large unions like automakers UPS and airlines have substantially raise their pay. So prices have to go up and stay up.
Biden threw over ten trillion dollars at the economy. He kept the lock down a year longer than it was needed. Frankly it was not needed. But he kept it a year after it was proven to be useless. And he sent out checks to everyone after jobs became available in large numbers. While halting student loans for people who could easily pay them. In short he wrecked the economy but kept it afloat with vast sums of debt.
Don’t expect prices to come down. They won’t. Mortgages will come down 2% as the elections come nearer. But that won’t solve anything. Our economy is now completely fake. Macroeconomics is no longer real. Our government has taken over. When things go up or down its because the government wants it to happen. But the media will just create a lie to make you think there are economic forces at work.
I expect that the government may soon be printing $10,000 bank notes enough to purchase a king sized 6oz soda in vending machines