The Fed won't be able to bring inflation down to its target, and Americans will have to live with high prices for years, BlackRock says

submitted by EternalSunset from (markets.businessinsider.com)

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newinsightfulfun

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (6 children)

So, what's the difference between now and the 80's when interest rates shot up to like 20 percent?

[–]pattis 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (3 children)

The difference now is that we are doing things that are intended to not only raise interest rates but to actually entirely bankrupt the US dollar for example ilhan Omar is proposing to give $1,200 per month to every adult in the country every month and this will literally bankrupt our currency system which will leave her Muslim people in charge because they are rich they own the stores and when they own the stores and you ain't got no money to spend one of you will become their willing servant and anyone else can just starve

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

Great points and that makes sense. Gold is staying high for the 5 years or so.

[–]pattis 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

the bottom line is that we have been selling IOU's to foreign entities in the form of various types of securities/bonds/etc... we have been doing the equivalent of taking out payday loans and we are way beyond the point where we could EVER pay back those loans.. its similar to if i earn $20k per year income and i were to take out a million dollars of payday loans... there is no way that i could EVER pay that back because quite simply i aint gonna live that long.

the united states is already drowning in various types of debt and we have several monster sized ponzi schemes that are ticking like time bombs, such as facebook and tesla.

yes, i could explain that tesla and facebook are LITERALLY ponzi schemes, though they do not follow the textbook definition of a ponzi scheme they are nevertheless schemes where your monies have been invested which WILL NEVER EVER BE PAID BACK IN FULL.

get ready to go broke when ilhan omar starts handing out free money to third world nations slums.

just fyi, we are already handing out money to other nations... for example, i was praying with muslims for a minute(wahabis) and an iranian man confided once that "some of us have figured out how to get $4,500 per month from social security and move back to our home countries".

we are now issuing large welfare checks to iran and pakistan and india and indonesia, and others. fyi, not only are these foreign citizens defrauding the social security administration, but they are literally the ones that are operating and managing the social security administration.

kaboom goes the world economies.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

We could pay it off, although we are at 130 percent of GDP spending right now. It would take us decades. Our WW2 debt was almost paid off up until the 80's when Reagan got elected, and then they quit caring. It's been going up ever since. This is the highest our debt has been.

[–]TemporarilyDeceased 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

what's the difference between now and the 80's

In the '80's wages tracked inflation. This is why he's saying that prices will remain high. They're only high if our wages remain low.

Powell stated this as his goal a year ago:

“By moderating demand, we could see vacancies come down, and as a result—and they could come down fairly significantly and I think put supply and demand at least closer together than they are, and that that would give us a chance to have lower—to get inflation—to get wages down and then get inflation down without having to slow the economy and have a recession and have unemployment rise materially. So there’s a path to that,” he said.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

If they keep raising rates, it should lower inflation.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

No shit? Once prices go up, they don’t come back down. It’s an adjustment to the new price.

[–]MagicMike 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Destroying money IS the goal, which is one reason why they inflate. When money is no longer a good store of value, dissolution follows. That’s the goal of the globalist scum.