{"id":513724,"date":"2021-10-20T08:36:36","date_gmt":"2021-10-20T12:36:36","guid":{"rendered":"https:\/\/goldtadise.com\/?p=513724"},"modified":"2021-10-20T08:36:36","modified_gmt":"2021-10-20T12:36:36","slug":"i-read-this-guy-every-day-helps-keep-my-head-on-right","status":"publish","type":"post","link":"https:\/\/goldtadise.com\/?p=513724","title":{"rendered":"I read this guy every day. Helps keep my head on right…"},"content":{"rendered":"\n\n\n\n
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Bezzle, Bezzle, Boil and Bubble<\/strong><\/h1>\n<\/td>\n<\/tr>\n

By Bill Bonner<\/strong><\/p>\n

Tuesday, October 19, 2021<\/em><\/p>\n\n\n\n
\"Bill<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

BALTIMORE, MARYLAND \u2013 What a marvelous time to be alive\u2026 with a front-row seat to watch a great empire stumble and fall!<\/p>\n

It only happens once every hundred years or so\u2026 So pull up a chair and enjoy the show.<\/p>\n

Here\u2019s the big news, from Bloomberg:<\/p>\n

U.S. Factory Output Falls in Fresh Supply-Chain Warning<\/strong><\/p>\n

Production at U.S. factories fell by the most in seven months in September, in part reflecting a sharp pullback in the manufacturing of motor vehicles as well as broader backlogged supply chains and materials shortages.<\/p><\/blockquote>\n

Supply chain? What\u2019s happening is much more than just a weak link. Adjusted for inflation, real industrial production has been going down for half a century and now is only a third of its 1968 level.<\/p>\n\n\n\n
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Falling Apart<\/h2>\n

The U.S. enjoyed a fake prosperity for the last 30 years \u2013 but only because China picked up the burden of manufacturing and sold goods to Americans at discount prices, keeping inflation in check.<\/p>\n

And now, the U.S. no longer has the good jobs, the infrastructure, or the know-how to make things Americans want.<\/p>\n

Instead, appliances and geegaws are shipped across the Pacific Ocean \u2013 at enormous cost \u2013 while the discounts disappear.<\/p>\n

China\u2019s raw materials costs \u2013 metals, fuel, etc. \u2013 are going up. So are its wages. It can no longer offset America\u2019s money-printing with cheap products.<\/p>\n

Yes, here in the U.S., \u201cinflation\u201d is now out in the open\u2026 and the whole scam is coming apart. CBS News reports:<\/p>\n

A perfect storm of high demand and low supply is sending fuel prices through the roof. Driving your car is costing a lot more \u2013 and heating your home this winter could, too.<\/p>\n

The national average for a gallon of regular unleaded gas this week is $3.27 \u2013 a seven-year high. According to GasBuddy, a price tracking service, the price of a gallon nationwide has gone up more than five cents in a week.<\/p>\n

Meanwhile, benchmark crude oil prices have risen above $80 a barrel for the first time since 2014. As a result, Chicago-area utilities are projecting that heating bills will be up to 50% higher this winter. The New York Department of Public Service warned residents last week that their home heating bills could jump 21% compared to last winter.<\/p><\/blockquote>\n\n\n\n
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Recommended Link<\/em><\/td>\n<\/tr>\n
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On the Case<\/h2>\n

But don\u2019t worry. The Biden team is on the case. Spotted on Bloomberg last week:<\/p>\n

Biden Seeks to Spearhead New Attack on Supply-Chain<\/strong><\/p>\n

President Joe Biden will turn his focus to supply-chain transportation bottlenecks on Wednesday, as the congested Port of Los Angeles will announce a 24 hours a day, seven days a week effort to confront the squeeze on goods.<\/p><\/blockquote>\n

But is the president really doing Americans a service by making it easier for them to buy Chinese products?<\/p>\n

Both the Trump and Biden administrations share the same COVID-19-fighting strategy \u2013 close up U.S. businesses, but give Americans money so they can shop for Made-in-China goods. Here\u2019s the Asia Times<\/em>:<\/p>\n

Gobbling China\u2019s exports, US sinks into dependency<\/strong><\/p>\n

China\u2019s exports rose 28% in September from the year-earlier level, more than the analyst consensus had forecast. More important is that China\u2019s exports to the United States have risen by 31% since January 2018, when President Trump imposed tariffs on a wide range of US imports from China. At a seasonally adjusted annual rate, the US is buying $635 billion of Chinese goods, equal to a staggering 27% of US manufacturing Gross Domestic Product.<\/p><\/blockquote>\n

Fraudfest<\/h2>\n

As we\u2019ve been saying<\/a>\u2026 the whole thing is a fraudfest. From the most basic premises \u2013 that wise guys in Washington can make decisions better than consumers, producers, and investors\u2026<\/p>\n

\u2026that American \u201cdemocracy\u201d follows the \u201cwill of the people\u201d\u2026 and adapts to its needs\u2026<\/p>\n

\u2026that elected officials know how to run a shipyard better than people who\u2019ve been doing it all their lives\u2026 people with skin in the game and real brains in their heads\u2026<\/p>\n

\u2026that you can spend more than you earn, year after year, and cover the deficits with \u201cprinting press\u201d money\u2026<\/p>\n

\u2026and that this fake money actually \u201cstimulates\u201d the economy \u2013 it\u2019s a \u201cbezzle.\u201d From start to finish. Dishonest. Corrupt. Incompetent.<\/p>\n\n\n\n
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Fake Prosperity<\/h2>\n

You can\u2019t \u201cprint\u201d prosperity. You can\u2019t make an economy work with five-year plans. And \u201cdemocracy\u201d does not mean that the majority always gets what it wants.<\/p>\n

Nope. It gets whatever bone the elites toss its way.<\/p>\n

But while tossing out scraps was easy when the economy was growing, of late, it\u2019s become much more difficult.<\/p>\n

The U.S. squandered trillions on its misbegotten wars and social programs<\/a>. Now, it\u2019s got a $3 trillion deficit \u2013 even without a recession.<\/p>\n

And this week, Republicans and Democrats consider the next trillion-dollar-plus programs\u2026 while the printing presses run hot to pay for them.<\/p>\n

More to come\u2026<\/p>\n

Regards,<\/p>\n\n\n\n
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Bezzle, Bezzle, Boil and Bubble By Bill Bonner Tuesday, October 19, 2021 BALTIMORE, MARYLAND \u2013 What a marvelous time to be alive\u2026 with a front-row seat to watch a great empire stumble and fall! It only happens once every hundred … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":112,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-513724","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/goldtadise.com\/index.php?rest_route=\/wp\/v2\/posts\/513724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goldtadise.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goldtadise.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goldtadise.com\/index.php?rest_route=\/wp\/v2\/users\/112"}],"replies":[{"embeddable":true,"href":"https:\/\/goldtadise.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=513724"}],"version-history":[{"count":0,"href":"https:\/\/goldtadise.com\/index.php?rest_route=\/wp\/v2\/posts\/513724\/revisions"}],"wp:attachment":[{"href":"https:\/\/goldtadise.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=513724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goldtadise.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=513724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goldtadise.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=513724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}