This is a really well written and detailed article that I very much enjoyed reading. I wish I had a few dollars to give you for your coffee, but I don't have any dollars to give you at the moment. Just wanted to tell you that I really enjoy your writing.
Thank you so much Mikey - your support just by reading and engaging is very much appreciated. If you can, share the post or the Substack with others you think would benefit from the information. Glad you're here!
It is hard to get into. A lot of the economics stuff is very much tailored to present an agenda rather than just explain how things work. A fairly even handed approach is done by EconomicsExplained on YouTube. He presents diverse schools of economics and doesn't really get into which one is "Right" but rather just says that this school believes this and that school believes that.
Unfortunately, people in general do not understand basic economics. The few that have some clue have been taken in by the crap underlying Keynes.
The big lie about "making record profits" is just part of the playbook of Marxists to create envy. The increase in profit is a mirage. A business charges higher prices to reflect the devaluation of the currency. They are charging the same value (in decreased worth of the currency) for the same goods.
If you have enough assets to weather the storm, you can make a killing from inflation. (Pithy quote from Dave Ramsey: "The only people who get hurt on a roller coaster are the ones who get off in the middle of the ride.")
Some people who went through the hyper-inflation in Argentina made out like bandits. Imagine you had just taken out a loan for a million dollar house that you could barely afford. All of a sudden, you could pay off the mortgage with the same money it would cost for a dozen eggs. A friend of mine who lived through it in Argentina had financed some appliances. He went and paid them off because the balance was cheaper than the bus ride to get to the store.
Of course this assumes you have assets that give you the power to withstand the chaos. That is the whole push for the "You will have nothing and you will be happy." They want people to be desperate and vulnerable. They can then stand below the roller coaster and pick up what falls out.
It makes absolutely no difference to me if gas were to go to $10 a gallon. I am not vulnerable to the price increase. I would pay marginally more money for bulk transported goods but it wouldn't be a big deal for the minimal amount of things that I "HAVE" to buy.
The local government is in a worse bind. Their inflation adjusted revenues are falling. If they make a commensurate increase in taxes to make up the shortfall, it is political suicide. If they don't keep up with pay increases to make up for the shortfall in worker salaries, they will lose all their employees to the private sector. All they can do is to defer maintenance and postpone new projects which leads to things like you see in Flint with the water supply and other infrastructure deterioration.
You're right, David, that most people don't understand basic economics and many of us are never really taught anything about money or personal finances. It's one of the reasons we try to talk about these issues on Collapse Life and on our podcast - just trying to share what we learn as we learn it and bring on knowledgeable people to help us make sense of it all.
This is a really well written and detailed article that I very much enjoyed reading. I wish I had a few dollars to give you for your coffee, but I don't have any dollars to give you at the moment. Just wanted to tell you that I really enjoy your writing.
Thank you so much Mikey - your support just by reading and engaging is very much appreciated. If you can, share the post or the Substack with others you think would benefit from the information. Glad you're here!
It is hard to get into. A lot of the economics stuff is very much tailored to present an agenda rather than just explain how things work. A fairly even handed approach is done by EconomicsExplained on YouTube. He presents diverse schools of economics and doesn't really get into which one is "Right" but rather just says that this school believes this and that school believes that.
Unfortunately, people in general do not understand basic economics. The few that have some clue have been taken in by the crap underlying Keynes.
The big lie about "making record profits" is just part of the playbook of Marxists to create envy. The increase in profit is a mirage. A business charges higher prices to reflect the devaluation of the currency. They are charging the same value (in decreased worth of the currency) for the same goods.
If you have enough assets to weather the storm, you can make a killing from inflation. (Pithy quote from Dave Ramsey: "The only people who get hurt on a roller coaster are the ones who get off in the middle of the ride.")
Some people who went through the hyper-inflation in Argentina made out like bandits. Imagine you had just taken out a loan for a million dollar house that you could barely afford. All of a sudden, you could pay off the mortgage with the same money it would cost for a dozen eggs. A friend of mine who lived through it in Argentina had financed some appliances. He went and paid them off because the balance was cheaper than the bus ride to get to the store.
Of course this assumes you have assets that give you the power to withstand the chaos. That is the whole push for the "You will have nothing and you will be happy." They want people to be desperate and vulnerable. They can then stand below the roller coaster and pick up what falls out.
It makes absolutely no difference to me if gas were to go to $10 a gallon. I am not vulnerable to the price increase. I would pay marginally more money for bulk transported goods but it wouldn't be a big deal for the minimal amount of things that I "HAVE" to buy.
The local government is in a worse bind. Their inflation adjusted revenues are falling. If they make a commensurate increase in taxes to make up the shortfall, it is political suicide. If they don't keep up with pay increases to make up for the shortfall in worker salaries, they will lose all their employees to the private sector. All they can do is to defer maintenance and postpone new projects which leads to things like you see in Flint with the water supply and other infrastructure deterioration.
You're right, David, that most people don't understand basic economics and many of us are never really taught anything about money or personal finances. It's one of the reasons we try to talk about these issues on Collapse Life and on our podcast - just trying to share what we learn as we learn it and bring on knowledgeable people to help us make sense of it all.