That’s “anyone for tennis” during inflationary times.
And if you think that’s clever, well I thank you, and if not you can blame it on Victor Borge.
And how can productivity go up if we don’t leave it to the private sector?
Cannot happen. And as long as “growth” is based on the public sector neither value added per employee (ie productivity) or real wages can go up – on average that is – then earnings will collapse although those who get paid by governments will do all right relatively.
It’s going to be bad for a long long time, longer than you can imagine. Average earnings will simply have to stagnate.
Glorious Inflation News, Comrades! You’re Getting Poorer Slightly Less Quickly from https://pjmedia.com/vodkapundit/2022/08/10/glorious-inflation-news-comrades-youre-getting-poorer-slightly-less-quickly-n1619852n
Do you see what’s peculiar about celebrating a lower rate of inflation?
Definitely getting poor(er).
Fed committed to getting inflation to 2% target, Barkin says. “The Federal Reserve is committed to getting inflation under control and returning it to the U.S. central bank’s 2% target, Richmond Fed President Thomas Barkin said on Wednesday, the latest in a litany of policymakers voicing determination to rein in price increases running at the highest pace in four decades.”
Prices will already have moved up more than 10%. The price increase is permanent. You won’t get your purchasing power back when the inflation RATE goes down unless your income goes up at the same rate.
People are so trusting and so stupid.
From Kurt Schlichter:
“If you peasants can be convinced to settle for less, that would sure be convenient for our garbage ruling caste since it has proven itself utterly incapable of even marginal performance in achieving merely the bare minimum standards of its job. Do you have security? How about prosperity? Does the future look bright? No.”
People are beginning to notice. It took only 700 years to get back to where they were after the Roman Empire had fallen. The elites never noticed a thing.
And after a while no one else will notice either.
Source: Townhall Everything Is Worse and You Are Just Supposed
to Take It
No one any longer knows now a market economy works. How a necessary feature is a private sector setting prices process. Without that the market will not function. It cannot be run by governments.
Why that is can be found almost in my book alone:
Also from Mises and Hayek but you have to read them closely.
We are about to bring the market economy to an end and no one will be able to bring it back.
I keep looking for someone else to point it out but no one does so I will.
If prices go up unless they fall by the same amount at some stage in the near future, you are forever behind unless your income goes up by the same percent.
Suppose prices go up by 6% and then the inflation rate goes to zero you are forever behind by 6%. Isn’t that clear?
Let me repeat in a slightly different way. If the inflation rate goes to zero you are still that 6% out until your income rises by that same 6%.
Those in government are stealing our wealth and we are apparently too stupid to notice.
No one seems able to distinguish between a level, such as GDP, and a rate, like inflation. We really are a stupid bunch. Even if inflation goes to zero percent we must remain behind.
Promising a return to zero inflation leaves most of us behind.
Higher interest rates make the robbery permanent.
Recessions are supposedly two consecutive quarters of falling GDP. So the US is in a technical recession.
But you can tell a real recession by negative real wages. We have been reducing real wages since the “pandemic” began.
Public spending does not count.
And with inflation through the roof almost everyone will notice,