(Joe Hoft) Inflation is skyrocketing. All Americans can see it. We’ve reported on inflation before. In November inflation reached the highest level in 30 years.
Finance
Raiding the World Bank: Exposing a Fondness for Dictators
(Jim Bovard) I have always had a bad attitude toward official secrets regardless of who is keeping them. That prejudice and John Kenneth Galbraith are to blame for an unauthorized withdrawal I made from the World Bank.
A Wartime Economy: Tips for Financial Survival
(Jose Martinez) Navigating a wartime economy can be tricky. If you’re not able to cope, you’ll quickly that your financial emergency has led to a survival emergency.
WEF Warns: Global Warming To Disrupt Financial System, “Freeze” Bank Accounts
(Dr. C Advice) In its latest predictive propaganda, the World Economic Forum asks, “What if extreme weather FROZE your bank account?”
Build Back Better Billionaires
(Zero Hedge) Before internet memes allowed for spontaneous sarcasm to go viral, work-based humor used to be based around coffee mugs and posters. The reigning king of these David Brent / Michael Scott media was: “You don’t have to be mad to work here – but it helps!”
Supply Chain Crisis, Shortages, Price Hikes to Continue Well into 2022: Report
(Lance D Johnson) Top economists at Goldman Sachs now warn of upcoming food shortages, price hikes and an ongoing supply chain crisis that will continue well into 2022. If no solution is found, the supply chain crisis could continue into 2023, affecting the availability of food and other goods, while driving prices up steadily, month after month.
Nearly Two-Thirds Believe Biden Responsible For Inflation: Survey Finds
(Jonathan Davis) A sizeable majority of Americans believe that President Joe Biden’s policies are directly responsible for rising prices across a range of commodities and products, according to a revealing new survey.
Food Inflation in the US about to Reach a Tipping Point
(Arsenio Toledo) Food inflation in the United States is reaching a tipping point. If the prices of food in groceries go up any further, industry executives warn that consumer spending habits may change.
The Inflation Lie: ‘Shortages’ Aren’t Causing It. Money Creation Is.
(Mihai Macovei) For central bankers and mainstream analysts the recent inflation outburst is only a transitory phenomenon which has nothing or very little to do with the massive monetary and fiscal stimuli unleashed during the pandemic. Although the Fed has recently conceded that price pressures are persisting longer than expected, the surge of inflation is allegedly due to supply bottlenecks caused by the pandemic.
Gold In A Tax-Sheltered Account? What Big Banks Don’t Want You To Know
(The Gateway Pundit) Big banks and the IRS want you to think, the only way to save for retirement is to load up on stocks – and feed the Wall Street beast.
Trading of Evergrande Shares HALTED As Ponzi Collapse Spreads, Bond Holders Left As Bag Holders
(Ethan Huff) A few days ago, the Chinese government halted all trading of Evergrande (HKG:03333) stock, claiming that the move is necessary in order to “restructure” the failing developer.
Why The West Can’t Ban Bitcoin The Way China Did
(Mark Jeftovic) Only a complete “dictatorship of the proletariat” can kill Bitcoin. Evergrande is being called China’s “Lehman moment” and overnight the PBC closed the loop on their clampdown on crypto with a total ban on virtual currency transactions.
‘Social Responsibility,’ ESG Scores, and China’s Social Credit System
(Jack McPherrin) Corporate Social Responsibility, ESG Scores, and China’s latest foray into totalitarianism via its recently introduced Social Credit System share significant commonality. Each system engenders the same erosion of individual liberty via the propagation of a singular “morality” unilaterally determined by an authoritarian overseer. That the governance structure surrounding the former is made up of economic elites operating from a relatively free society, while the latter is made up of high-ranking governmental officials in a significantly less free society, is immaterial.
Worsening Shipping Crisis Will Affect Retail Supply Lines and Shopping for Holidays
(Mary Villareal) The world’s network of ports, container vessels, and trucking companies that allow goods to move globally has been tangled due to the pandemic, and the cost of shipping is skyrocketing.
Venezuela’s Central Bank Will Launch Digital Currency Oct. 1 to “Stabilize the Economy”
(J.G. Martinez) I have been home for over two months now, and I have only acquired four banknotes of 500,000 Bolivares each. Finding cash is a pain. I went to see if the bank could unlock my old account. Unfortunately, there is no way, and I will have to open a new one. And wait for God knows how much time for something as simple as an ATM card. The wait can be months in this small town.