by Simon 112 Replies latest social current
To Simon's comment about the ports: I'm not sure what the Union arrangement is at the ports for their crane operators, but Californication is in a different world. The news had a piece recently on lifeguards in California making $500k, a lot of that was in overtime.
I don't make a good living unless I have steady overtime. I've worked 2800 to 3100 hours a year for a long time. I love that the government takes 1/3 of my earnings. They know how to spend my money better than I do. I'm so thankful.
PI just balanced the bank accounts🥴 had to dip into savings for property tax. We are retired and owe not one dime. A little extra on clothing, yard stuff ( staying home more), and one Sunday drive did it. We do set aside for taxes, insurance and such.
So, inflation is rearing it's ugly head.
The local politician's are postponing increases in taxes and fees to save the people money until after the midterms ; then hang on.
It's just a matter of time before the 'world' files bankruptcy and digital currency becomes the new normal.
Jammer
And will be able to track everything you do and cut off your ability to eat and live if you dont toe the line.
Its been interesting to read this thread over the course of the year in relation to all the crazy stuff happening.
Just had a massive (higher than expected) interest raise rise in Australia of half a percent, the highest raise in 22 years. The reserve bank says its to try and curb inflation.
If you have savings in the bank, the best interest rate is about 1.5%, up from about .2%. Our current inflation is about 6% - officially, so interest on savings is not even close to keeping pace with inflation. House prices are falling, fuel and groceries are rising.
I was surprised to learn how much of the worlds produce comes from Ukraine. Might be some hungry populations in the near future.
Not just wheat, but also fertilizer, as I understand it. Food shortages may very well be coming.
Simon is right. The question for me is WHY? The left has economists also. They can't be so stupid to not know what happens when you artificially increase the money supply. The answer implies that they are trying to destroy the economy. For what purpose? Possibly to transform the nation into a purely Socialistic nightmare? I hate to impute those motives but I am left with no other conclusion. Please tell me I am wrong. If thatis correct though, I don't think that the majority of Dems understand that and what it will mean to everyone.
Sigfrid puts this in perspective. The debt is too high to repay. Servicing the debt is going to come home to roost soon. I recall a friend who spent himself into a hole and was only able to pay the interest. You can write the rest of the story.
The US can print money but it only makes things worse. I worry about what the near future holds and we let politicians bring it on us. Maybe they can tax religions to help pay the debt back? But it still won't be enough...
I don't think people really understand how utterly fucked most countries are.
The pension systems are broke and only have money to about 2030, but they still offer massively inflated pensions for public sector workers. It's unsustainable.
The debt to GDP ratio is off the chart.
Just imagine you could sell every single company listed on the Nasdaq, S&P500 etc... for full, peak, valuation (so nothing goes down in value when you start selling). It would pay something like 1/4 of the debt.
THE WORLD IS BANKRUPT!!
All the geniuses in charge want to do is keep telling people it's all transitory and kick the can down the road but they have no real plan other than an inevitable massive default and economic collapse.
Now in unrelated news, why do you think they are so intent on you handing over your guns?
The debt is too high to repay. Servicing the debt is going to come home to roost soon. I recall a friend who spent himself into a hole and was only able to pay the interest. You can write the rest of the story.
This is it - they can't afford even the interest part of the debt any more. This is why they are so keen to devalue the currency, because they also devalue the debt.
But it doesn't work because economics 101.
This is how every world power has gone down - the currency is devalued and the power collapses.
Keynesian bullshit economics.
If you want a really good insight into economics and how we got to where we are, this is essential viewing:
