Soaring Inflation Is Brutalizing The Lower And Middle Class
In all seriousness, this could be one of my most important "Our Bullshit Economy" podcasts yet.
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In what I think could be one of my most important Our Bullshit Economy podcasts ever, this week I took time to cover:
Exactly why inflation is, as Peter Schiff would say, “the most regressive tax possible”
Why it’s important for people to wake up to the negative consequences of inflation right now, before it becomes too late
Why the Fed is stuck in a corner when it comes to rate hikes and/or taking any action that could burst the equity market bubble
I also took the time to speak about why I think Virginia flipped Republican, something I had written about extensively here:
I also continued to make my case for why we could be on the edge of a catastrophic market crash, something I wrote about days ago, at length, here:
The content of this podcast is somewhat repetitive for those who have listened to me, and especially for those who know the Austrian school well. But it is just so damn important at this point in time, I wanted to make sure my key points were made and fleshed out.
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Great Podcast Chris.
The left or at least the progressive left is the issue. Lowering our expectations is not an answer - Americans need to get off their ass and get to work. 2 years ago we did not have "We are Hiring" signs outside of every business.
I go into an 8th grade econ class once a week as a guest teacher. We spent an the hour yesterday talking about inflation and federal debt. The kids got it and were actually pissed off by the end of the class. However - these kids are smart, but this is first time anyone had been honest with them about what life and what the fuck is going on with our society.
The teacher and i were chatting after class yesterday about the kids when they get to H.S. they don't get part time jobs (which I am 42 and that is the complete opposite when i was a teen). Their parents pay for everything and then they go to college getting their woke education.
My generation need to do a better job of educating our kids and getting them off their damn phones. Then make them get shit jobs (whether its flipping burgers or bagging groceries), we need to build a work ethic and instead of lowering expectations - we need to build expectations.
We are letting down the future generations by trying to make their lives easy - which is evident with 18-30's old's today.
Sirloin $14.99 / lb, Gasoline $3.59/gal, Smart Balance margarine $6.99/tub, nuts of all kind double or higher than 1-2 years ago, fresh salad ingredients 50-60% higher than last fall and every little thing just a smidge higher or smaller on a steady basis. Natural Gas and Electric rates are also increasing as the surcharge / tax rates go up. I live in Michigan and if the Line 5 pipeline is cut off, we will see major increases in natural gas rates. Biden is sabotaging the economy in preparation of the big economic reset. Digital currency, gold and gun control, federal debt restructuring and martial law.