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#Post#: 439--------------------------------------------------
"Things are great and anyone who isn't doing great is
really just jealous of other peoples success and a drug addict
..
DIR By: AGelbert
Date: August 10, 2022, 1:03 pm
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August 10, 2022
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-040622202605-13991014.png<br
/>AGelbert NOTE: The following comments (I replaced the handles
with emojies) were posted today in response to a Stock Market
news article explaining the cause of the "positive" (i.e. buy,
buy, buy) reaction of the "markets" to the "less than expected"
CPI print of 8.9%. The comments, unlike the BLS CPI print of
8.9%, are reality based. but they fail to point out the real
reason the markets went up today. After the comments, I will
state what I am certain caused today's buying spree.
--- Quote ---
> 🤦‍♂️
> 8.5% is still an ugly number. A fake, ugly number at that.
> always assume 10% downside to anything produced by fedgov/CIA
mouthpieces/MSM polls
>
> 😡
> Fake..
> Everything is Fake
> one BIG Ugly out of control Clusterf#ck Dumpster Fire!
>
> 🥺
> Lots of lipstick on that pig.
>
> 🙄
> There is not quite as much arterial bleeding pumping and
spraying out of the victim as last month!
>
> 🎩
> We're gonna need a bigger IV and larger blood bags. I hope
donations don't slow down.
>
> 📢
> after the
HTML https://fred.stlouisfed.org/series/CE16OV#
household reported against the BLS release.. No one I mean
no one believes these liars..
>
> 🔊
> And also remember that any government report citing
inflation/pricing is BS!
>
> 💩
> At this rate of inflation, your money is only halved in 11.8
years.
> Enjoy...
>
> 🙃
> Key words…”at this rate” because we all know the numbers are
probably double what they are saying they are so you can cut
that 11.8 to 5 years I’m guessing….
>
>
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-050422132341.gif<br
/>No no no. Everything is made as opaque as possible and
information is only available to a few who we trust to give us
the whole story because everything is awesome. Things are great
and anyone who isn't doing great is really just jealous of other
peoples success and a drug addict and dumb and a liberal or a
conservative and lazy and entitled and and and and. This was the
story for many years while all of this was unfolding and now
that it is impossible to ignore, everyone is still jealous , a
drug addict, etc. But now that the people who labeled everyone
who wasn't doing so well all those things aren't doing so well
themselves. They are singing the same song all of those lazy,
entitled, dumb people were singing decades before. It's really
funny the cognitive dissonance most people have.
>
> 🐻
> We'll see if the have that smug smirk on their mug standing in
a gov bread line in January.
> It's coming...
>
> 🐾
> Roger that.
>
>
HTML http://renewablerevolution.createaforum.com/gallery/renewablerevolution/3-250817134648.gif
> Compounding lies with more lies will only help the Fed to do
the wrong thing at exactly the wrong time!
> You are led by morons who think they are gods shaping reality.
> arrow
>
>
HTML http://www.sherv.net/cm/emoticons/sick/barfing-smiley-emoticon.gif
> Hubristic losers, the lot of 'em.
>
> 🤷‍♂️
> While I agree they are lying through their teeth, being
incrementally more hawkish than they have been and raising rates
(with QT) is the right thing to do when inflation is higher than
the Fed funds rate. That doesn't excuse them from holding rates
way too low for way too long, and it won't stop the reckoning
still to come in the housing and financial markets.
>
>
HTML http://www.createaforum.com/gallery/renewablerevolution/3-120716190938.png
> Zimbabwe, here we come !
> More manipulated numbers from government agencies.
> I can see it now.
>
> Gov't Economist: "What number should I put in the CPI report,
Director? 6.3%?"
> Susan Rice: "Nah, they will never believe that it went down
that much."
> Gov't Economist: "What about 7.8%?"
> Susan Rice: "Problem is the seven. It screams made up."
> Gov't Economist: "Well, it kind of is..."
>
> Susan Rice: "Put in 8.5%. It's not too far off 9.1% but we
made that one up anyway, so it doesn't matter."
> Gov't Economist: "That sounds pretty good."
>
> Susan Rice, Director of the White House Economic Council,
chuckles and smiles.
--- End Quote ---
Source:
HTML https://www.zerohedge.com/markets/wall-street-reacts-todays-huge-cpi-miss
HTML https://renewablerevolution.createaforum.com/gallery/renewablerevolution/2/3-241119204318.png<br
/>The real reason the "markets" (i.e. stocks owned by MOSTLY the
1%) went "up" (i.e. buying spree BY the 1%) is because of the
TWO GIANT GIVEAWAYS just passed by Congress (i.e. chip
manufacturer 70 billion plus dollar swag AND the 🦕
Manchin "Climate" bill that MOSTLY provides MORE subsidy SWAG
for the 🦖 hydrocarbon hellspawn, while providing a
pittance for clean energy). There is ABSOLUTELY NOTHING in these
pork barrel giveaways for we-the-people not in the 1%. Let me
repeat that: NOTHING! There is NO repeal of the 2017 Trump
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-250422163150-10512004.png<br
/>massive tax baked in permanent REDUCTIONS to upper class taxes
along with INCREASED Taxes baked in for the middle class and
lower income brackets (see below).
[center]
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[center]
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[center]
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-050422134013.gif<br
/>There is ALSO NO CHANGE to THESE 2017 🥺 Federal Budget
PROJECTIONS:[/center]
[center]
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HTML http://renewablerevolution.createaforum.com/gallery/renewablerevolution/3-040718162655-1422241.gif<br
/>There is NO actual "subsidy" for buying an EV unless you
consider a $7,500 (that's the max, rarely available) rebate on a
$60,000 PLUS vehicle a "benefit for the middle class". I
CERTAINLY DON'T.
Senator Sanders voted for this Bill. I think he should
definitely NOT have done it, but my opinion carries no weight in
Congress. At any rate, he did make clear (some, but certainly
not all, of) what is wrong with the Bill, though you will never
hear it from the US Corporate Media.
August 10, 2022 3:21 PM "Bernie Buzz" e-mail:
The Good
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-050422145218.gif<br
/>and the [b]Bad of the Inflation Reduction
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-050422144955.bmp<br
/>Act[/b]
SNIPPET:
--- Quote ---
> As you may know, a reconciliation bill is one of the few
opportunities we have in the Senate to pass major legislation
with 50 votes, not the usual 60. It is unfortunate, therefore,
that not one of the 50 Republicans in the Senate was prepared to
come forward and support a bill which would have addressed the
many serious problems facing struggling working families. That
meant that we needed all 50 Democrats in the Senate to stand
together if we were going to address the major crises facing our
country.
>
> That's not what happened. Two corporate Democrats, both of
whom receive huge amounts of campaign contributions from
powerful special interests, prevented that from happening.
>
> The result is that this bill does nothing to reform our
dysfunctional, wasteful and cruel health care system. It does
nothing to address the massive levels of income and wealth
inequality and concentration of ownership that we are currently
experiencing. It does nothing to raise the starvation minimum
wage or make it easier for workers to join unions. It does
nothing to build the millions of units of affordable housing we
need. It does nothing to address the crisis of childhood poverty
and a totally inadequate childcare system. It does nothing to
address the home health care crisis facing our seniors and
people with disabilities. It does nothing to expand Medicare to
cover dental, hearing, and vision care. It does nothing to make
it easier for young Americans to get a higher education, or pay
off their student debt. It does nothing to move us forward
toward immigration reform or voting rights reform.
--- End Quote ---
HTML http://www.createaforum.com/gallery/renewablerevolution/3-311013201604.png<br
/>The bottom line is that the US Congress just made a POINT of
proving they are THERE for the 1% and they will continue to be
THERE to guarantee the Capitalist SHAFT for the rest of us. And
THAT
HTML http://renewablerevolution.createaforum.com/gallery/renewablerevolution/3-040718162656-14241872.gif<br
/>is why Wall Street is so 😈 pleased today. Have a nice
day.
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#Post#: 444--------------------------------------------------
The flawed assumptions about WHY poverty exists, WHY wealth
exists and WHAT THE RELATIONSHIP between the two
DIR By: AGelbert
Date: August 13, 2022, 2:48 pm
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[center]
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Agelbert NOTE: Over the centuries, as the leaders in human
civilization increasingly pursued privilege over principle, this
rampant increase in elite human iniquity resulted in massive,
unjust and totally unnecessary human inequity.
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-170422173113-783394.jpeg
I present this March 12, 2015 article to readers in order to
educate them on how we have been propagandized to believe
Capitalism is "good" because it "creates wealth". This flawed
world view is analyzed and exposed as folly. The key is the
flawed assumptions about WHY poverty exists, WHY wealth exists
and WHAT THE RELATIONSHIP between the two IS.
SNIPPET:
--- Quote ---
> We noted this in the article we published here a few weeks
ago, "4 Things You Probably Know About Poverty that Bill and
Melinda Gates Don’t," and it rubbed many people the wrong way.
It’s understandable that this feels counterintuitive at first
because it seems to defy basic logic. Wealth is something, and
poverty is nothing. Wealth is the outcome of action, so it must
follow that poverty is what exists before or in the absence of
action. In other words, poverty must be a default state. Right?
>
> The problem with this intuitive theory of poverty is that it
ignores context—from the quality of education, to race and
gender privilege, to physical and mental health, to luck and
coincidence and much more. Even more important than all that,
though, is the fact that it pretends that what happened
yesterday has no bearing on today. When it comes to the global
economic system and issues of mass poverty, the all-important
yesterday is measured in decades and centuries. If we don’t
understand this long view, we don’t really understand anything.
>
> Why is all this so important? Because it is impossible to
solve an entrenched problem like mass poverty without
understanding how it came into being. There’s every reason to
believe we can overcome poverty, if we take the time to
understand and learn the lessons from how it is created.
>
> [size=12pt]
> Poverty isn't just a fact of nature. We made it happen, and we
can fix it.
>
> Here are just three ways mass poverty has been created:
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-040422164555-532108.png
--- End Quote ---
[center][url=
HTML https://www.fastcoexist.com/3043284/3-ways-humans-create-poverty][color=red]3<br
/>Ways Humans Create Poverty[/center]
#Post#: 460--------------------------------------------------
📢 Comment of the YEAR
DIR By: AGelbert
Date: August 18, 2022, 1:04 pm
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[center]
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-040622202545-13961729.png<br
/>Comment of the YEAR[/center]
--- Quote ---
> The FED is in a tug of war - throw the rich or the poor under
the bus.
>
> If they continue aggressively to raise the rates, they throw
the rich under the bus with lower asset values across the board.
>
> If they chicken out and they go too slow, they throw the poor
and middle class under the bus because inflation is the most
regressive form of taxation; also, they trash the value of the
dollar (you can't maintain the most powerful military with a
banana republic currency).
--- End Quote ---
Comment Source:
HTML https://www.zerohedge.com/markets/we-are-all-watching-beads-sweat-forming-feds-forehead
#Post#: 471--------------------------------------------------
"This week’s lesson in “How We Get Screwed Everywhere We
Turn” ..."
DIR By: AGelbert
Date: August 26, 2022, 4:27 pm
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HTML https://ci6.googleusercontent.com/proxy/bMi5K4CDjFlORKNzbtb8lit774Y1msNFvqsbSgXnjuUWN_dpHltajASyKjxYyLW_EG-St1vg9JhrJR1vAL8SwjJmNeDervxCdhNS7cu1ZyWAx3J0=s0-d-e1-ft#https://truthout.org/wp-content/uploads/2018/11/truthout_logo.jpg
August 26, 2022 BY William Rivers Pitt 🗽, Truthout
(graphics by AGelbert)
[center]
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-110822203905-1755931.png[/center]
[center]Mitch McConnell’s Condemnation of Debt Relief Is
Dripping With Hypocrisy[/center]
SNIPPETS:
Too many people from previous generations enjoyed privileges
afforded by things like the G.I. bill and properly funded public
schools, climbed to the top of the ladder, and then pulled the
ladder up behind them.
How? By voting for
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-040622210450-1415528.gif<br
/>Republicans who hate public money and public schools, and why?
To pay less taxes. It wasn’t Millennials or Gen Z who threw 74
million votes at Donald Trump in 2020, but a whole lot of them
did what was expected of them and got an expensive education on
the promise of future opportunity, only to find that ladder
missing and their grandparents waving at them from the
now-unattainable economic high ground. ... ...
Welcome to the
HTML http://renewablerevolution.createaforum.com/gallery/renewablerevolution/3-040718162656-14241872.gif<br
/>world endured by millions of student debt holders. ... ...
How do you get the smartest students in the country to work
defending the rights and power of corporations? Bury them in
debt and then lure them into six-figure careers — perhaps a
partnership, or even a judge’s robe down the road — spent
defending those corporations in court. So long as these students
are shackled to debt, torrents of them will be available to make
sure 🦖 oil companies will never know a reckoning for,
say, turning the Gulf of Mexico into a ☠️ death
zone. This frees up money for the corporations to 😈 buy
politicians who bring things like
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-040622202719-1406786.gifhttp://renewablerevolution.createaforum.com/gallery/renewablerevolution/3-130418193910.gifCitizens<br
/>United to life, and the wheel goes round. ... ...
You’d like to think the Republicans in high dudgeon ::) over
debt relief are trying to make a point without the usual dollop
of hypocrisy on the side — you go into debt, you pay your debt —
but you would be wrong to all points on the compass.
🐘 GOP Representatives 🐍 Vern Buchanan, 👿
Marjorie Taylor Greene and 😈 Mike Kelly got mouthy over
the unfairness of it all. Which is kind of strange upon further
analysis. During the height of the pandemic, each and every
single one of them took advantage of the debt forgiveness
available in the Paycheck Protection Program (PPP). Greene had
$183,504 in PPP loans forgiven. Kelly had $987,237 in loans
forgiven. Buchanan had more than $2.3 million :o in PPP loans
forgiven, and is now calling Biden’s new policy “reckless.”
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-080422121157.gif<br
/>... ...
Full article:
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-040422164647-5372345.gif
HTML https://truthout.org/articles/mitch-mcconnells-condemnation-of-debt-relief-is-dripping-with-hypocrisy/
[center]
HTML http://renewablerevolution.createaforum.com/gallery/renewablerevolution/3-251117173820.png[/center]
#Post#: 476--------------------------------------------------
"The 🎩😈 Fed says wages should go down to
get 💵 inflation under control. What if we just stopped
corporate profiteer
DIR By: AGelbert
Date: August 31, 2022, 2:00 pm
---------------------------------------------------------
The Real News Network
AUGUST 30, 2022 BY MARC STEINER
[center]🔊 THE FEDERAL RESERVE IS WRONG: CORPORATIONS
SHOULD PAY TO STOP INFLATION, NOT WORKERS
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-110822202842.png
HTML https://therealnews.com/the-federal-reserve-is-wrong-corporations-should-pay-to-stop-inflation-not-workers?utm_medium=email&utm_source=The+Real+News+Network&utm_campaign=fbcee1451d-EMAIL_CAMPAIGN_2022_08_31_fed-is-wrong&utm_medium=email&utm_term=0_020676f7fe-fbcee1451d-420547053&mc_cid=fbcee1451d&mc_eid=4756ab34de[/center]
#Post#: 494--------------------------------------------------
Re: Money
DIR By: AGelbert
Date: September 4, 2022, 2:58 pm
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[center]
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Make Nexus Hot News part of your morning: click [i]here
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/>to subscribe.[/i]
[center]
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#Post#: 506--------------------------------------------------
Reality Asserts itself at Wall Street. GOOD!
DIR By: AGelbert
Date: September 13, 2022, 8:24 pm
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[center]
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[center]
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[center]
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#Post#: 509--------------------------------------------------
You Earned It, You Keep It Act (HR 8717)
DIR By: AGelbert
Date: September 15, 2022, 10:46 am
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My Federal Retirement
September 15, 2022
[center]Proposed Bill Would Repeal Federal Taxes on Social
Security Benefits[/center]
Representative Angie Craig 🗽 (D-MN)
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-110422180553-643238.gif<br
/>introduced last month legislation that would repeal federal
taxes on Social Security benefits for retirees.
If passed, the You Earned It, You Keep It Act (HR 8717)
HTML https://www.congress.gov/bill/117th-congress/house-bill/8717<br
/>would repeal all of the federal taxation on Social Security
retirement benefits beginning in 2023.
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-050422180949.png
Craig claims the tax repeal would be fully paid by implementing
an extension of the payroll tax wage cap to over $250,000 a
year. Under current law, wages over $147,000 are exempt from the
Social Security payroll tax.
HTML http://renewablerevolution.createaforum.com/gallery/renewablerevolution/3-250817121649.png
“Social Security 🗽 is a promise we have made to the
American people – if you work hard and play by the rules, the
dignity of a secure retirement will be within your reach,” said
Craig 🗽.
“But taxing the very benefits American workers have earned after
decades on the job diminishes our promise and threatens to
undermine the financial security of retirees already struggling
with rising prices, “Craig said. “Eliminating this tax will help
Social Security benefits go further and ensure that American
retirees have all the resources they need after a lifetime of
hard work.”
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/>
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-120422122257-657398.pnghttps://soberthinking.createaforum.com/gallery/soberthinking/1-090422150144.png
Craig said that according to non-partisan analysis the proposed
legislation would also improve the long-term solvency of Social
Security compared to current law.
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-050422145344-560693.png<br
/>
To read the full text of the bill, go here
HTML https://www.congress.gov/bill/117th-congress/house-bill/8717/text/ih?overview=closed&format=txt.
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-040422164616-5368.jpegAGelbert<br
/>NOTE: Below, if you are good at reality based interpretations
of
the Congressional 'how it works' for New Bills, such as the
"You Earned It, You Keep It Act (HR 8717)" Bill submitted August
16, 2022 by Representative Angie Craig 🗽 (D-MN), you
will learn 👀 how 😈 Pelosi, aided and abetted by
her Chief of Staff, 👿 Primus (a neoliberal, Wall Street
worshipping sworn enemy of ANY improvement of Social Security
and/or Medicare - which is why Pelosi made him Chief of Staff),
will do all these two 😈👿 enemies of
we-the-people can to keep HR 8717
HTML https://www.congress.gov/bill/117th-congress/house-bill/8717/text/ih?overview=closed&format=txt<br
/>from EVER coming to the House Floor for a vote. A Floor Vote
would expose the FACT that Pelosi, and too many other so-called
"Democrats", are AGAINST improving Social Security. They don't
want most Americans to learn that they are FRAUDS. So, Primus
and Pelosi, on behalf of the 1% American Oligarchy Social
Darwinist GREEDBALLS, will 'play' with the Scheduling Calendar
to kill the HR 8717
HTML https://www.congress.gov/bill/117th-congress/house-bill/8717/text/ih?overview=closed&format=txt.<br
/>🤦‍♂️😡
However, if more than 226 Reps ( :-[ CORRECTION: there must be
at least 290) 🗽 push for a 🦅 floor vote, the
corrupt Scheduling 'fun and games' will be thwarted and we
MIGHT get some justice, for a welcome change. May God Hear the
🙏🏼 prayers of all the humble Social Security
pensioners and force Pelosi to bring HR 8717
HTML https://www.congress.gov/bill/117th-congress/house-bill/8717/text/ih?overview=closed&format=txt<br
/>to a floor vote 🕊️ THIS MONTH.
[center]Congress.gov: Calendars and Scheduling[/center]
[center]
HTML https://youtu.be/aCFf3o4bhgs[/center]
Library of Congress 257K subscribers
Congress.gov Legislative Process videos were produced by the
Library of Congress (LOC). In service to Congress, analysts in
the LOC Congressional Research Service (CRS) authored (Valerie
Heitshusen) and narrated (Walter J. Oleszek) the videos for
Congress.gov. Video also available here
HTML https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqa3o3b1hLd0VJSV9scUxXcy14aTcxa09KVUo2QXxBQ3Jtc0tub1JzU2lkSXg0S3o1bklRVUZMQ0VtUC05Y2oxWlNYQlJ1RHgzVHotTTVEYmt4QlFXNGRyT21yX3JGZjlmNUxZMnVfcHpsczhNUTNydU5kcjlHeVhEMWYxNVg1a2l3RVI1eTBxQkhHcXIyUDVuTy1XSQ&q=http%3A%2F%2Fbeta.congress.gov%2Flegislative-process%2F&v=aCFf3o4bhgs.
#Post#: 513--------------------------------------------------
The Fed Stopped Buying MBS Today
DIR By: AGelbert
Date: September 16, 2022, 11:08 pm
---------------------------------------------------------
Wolf Street
Sep 16, 2022 by Wolf Richter • Sep 16, 2022 • 179 Comments
[center]The Fed Stopped Buying MBS Today.[/center]
[move]The purpose of MBS purchases was to repress mortgage rates
and inflate home prices. That process has already started to
reverse.[/move]
SNIPPET:
The last time the Fed did QT Nov 2017 – Feb 2020.
During the last episode of QT, the Fed shed MBS from November
2017 through February 2020. The chart below shows this phase of
the MBS reduction. During the phase-in, it took about three
months before the first declines became recognizable. QT back
then was much slower, and the phase in was much longer, than in
the current era of QT.
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-170922001754.webp
Full article:
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-040422164555-532108.png
HTML https://wolfstreet.com/2022/09/16/the-fed-stopped-buying-mbs-today
Reality Based Comments:
Thunder Sep 16, 2022 at 2:36 am
“The purpose of MBS purchases was to repress mortgage rates and
inflate home prices. That process has already started to
reverse.”
That last sentence sent a shiver down my spine because I never
looked at it like that and it will punish the FOMO “real-estate
always goes up” crowd.
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-050422144605.png
Debt can be a two edge sword.
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-170422173254-804209.png<br
/>
WA
I find it sick that despite promising tightening,
🎩
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-040622202719-1406786.gif<br
/>Fed was still buying MBS to maintain the balance sheet against
pass through payments.
A class action lawsuit against US fed should be in order. Here
is the probable text:
1. Fed MBS purchases artificially raises house prices and
consequently raises rent expectations.
2. These higher rents resulted in Tillions of dollars worth of
cumulative financial losses to 45% of all American households
that rent over the last decade.
3. These artificially higher asset prices also resulted in
higher property taxes for home owners causing them to lose
billions of dollar cumulatively. The asset price gains that they
received were reversed by QT.
4. To hold the Fed accountable for losses to a majority of
Americans, we the people will like to Sue the US Federal reserve
to recover our losses.
5. We would like the US courts to decide the matter and uphold
the rule of law.
What do you guys think about this?
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-080822134118-1710799.gif
AGelbert > WA
Your logic is sound but the problem for home owners, very
difficult to overcome in the courts, is their John Handcock on
the mortgage contracts.
😈 Greenspan began pushing this "wealth effect" SCAM 40
years ago. I am glad that reality is finally asserting itself
because, throughout all that period, people who did not own
homes were defrauded by Fed caused inflation (consistently
low-balled by the BLS). Thus, while home owners were enjoying
the ride, they, and EVERYONE ELSE, simultaneously got the
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-050422182057.gif<br
/>inflation shaft (i.e. loss of buying power) on just about
everything else people need to buy just to live, never mind
optional and luxury goods and services.
The Government computed cost of living was correctly computed
before Greenspan began gaming it during the Reagan
Administration. He kept 'improving' that game to steal from
pensioners and COLA linked wage earners all the way to late
1990's.
Shadow Stats still provides the pre-Greenspan COLA numbers,
which are always at least 10% higher than BLS published numbers.
If you want more detail on how we-the-people, particularly those
who do not own homes, have been massively defrauded by the
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-040622210450-1415528.gif<br
/>Fed gaming of the COLA formula for over 40 years, check out
the
Chapwood Index.
HTML https://wolfstreet.com/2022/09/16/the-fed-stopped-buying-mbs-today/#comment-466034
#Post#: 514--------------------------------------------------
Inflation Causing Hardship For Majority Of US Households
DIR By: AGelbert
Date: September 17, 2022, 4:49 pm
---------------------------------------------------------
Agelbert NOTE: Wolf Richter, who usually gets the big picture,
disappointed me, replying to the above comment I made, by
mocking Shadow Stats as a "joke".
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-040622153115-13851380.png<br
/>If Shadow Stats REALITY BASED inflation numbers are a joke to
Wolf, then he has a rather strange sense of humor. Wolf wants to
believe the Greenspan massaged BLS COLA
HTML http://renewablerevolution.createaforum.com/gallery/renewablerevolution/3-251117175700.png<br
/>"math". That is a textbook example of "investment (also called
"Endowment") bias" caused ERROR in judgement. Wolf is
cognitively invested in those numbers, so he rationalizes that
the numbers are "correct"
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-120422122316-661919.bmp.<br
/>
YET, it is Wolf that has OFTEN made clear how the "weighting" of
"Owners Equivalent Rent" in the CPI (which is used in the basket
of items to use for the COLA calculation) makes a mockery of the
TRUE increases in housing costs AND Rent. Despite that
IRREFUTABLE VIDENCE that inflation is, 🎩😈 with
malice aforethought, being deliberately and methodically
low-balled, Wolf just doesn't want to admit we-the-people have
been defrauded for at least 40 years by 😈 Greenspan's
"Wealth Effect" SCAM. 🤦‍♂️
Wolf Richter needs a reality check. Inflation is a MAJOR problem
CAUSED by the Fed, which, BY 🎩 FED 😈 DESIGN,
MOSTLY hits the poor and middle class. Wolf doesn't want to go
there. If he doesn't GET
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-110422205132-6472099.gif<br
/>REAL, then he will pay a painful price
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-050422155724.png<br
/>for believing the la-la land BLS COLA numbers with hard
experiences.
[center]
HTML http://renewablerevolution.createaforum.com/gallery/renewablerevolution/3-230815160919.gif[/center]
[move]None so blind as those who refuse to see. [/move]
The following article provides more evidence that the REAL
INFLATION RATE is closer to Shadow Stats numbers than the BLS
low-balled COLA pension and wage eroding Greenspan gamed
formula.
SATURDAY, SEP 17, 2022
[center]Inflation Causing Hardship
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-050422182057.gif<br
/>For Majority Of US Households[/center]
[move]As inflation remains at the highest level in more than 40
years, millions of Americans are facing financial hardship due
to rising consumer prices.[/move]
Statista's Felix Richter reports that, according to a survey
conducted by Gallup in August, the majority of U.S. adults now
say that price increases are causing financial hardship for
their household, with 12 percent describing their hardship as
severe, meaning it might affect their ability to maintain their
current standard of living. Another 44 percent of households
face moderate hardship, meaning that price increases affect them
but don’t threaten their standard of living.
Unsurprisingly, inflation woes affect lower income groups
disproportionately. While it’s relatively easy to shrug off
price increases when it only reduces the amount of money left at
the end of the month, it is much harder for people who struggled
to make ends meet even before prices started surging.
[center]
HTML https://soberthinking.createaforum.com/gallery/soberthinking/1-170922174506.png[/center]
Infographic: Inflation Causing Hardship for Majority of U.S.
Households | Statista
HTML https://www.statista.com/chart/26334/effect-of-price-increases-on-the-financial-situation-of-households/
You will find more infographics at Statista
HTML https://www.statista.com/chartoftheday/
As the chart above shows, inflation pressure has even caught up
with high-income households, though, as 40 percent of those with
household income above $90,000 now say they're facing financial
hardship in face of inflation, up from just 29 percent in
November 2021. The share remains much higher for low-income
households, however, where 74 percent now was severe or moderate
hardship due to rising prices.
HTML https://www.zerohedge.com/personal-finance/inflation-causing-hardship-majority-us-households
*****************************************************
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