ECONOMICS: Lesson from Argentina — Cut Gooferment 60% and inflation goes from 70+% to 2.7%

Friday, November 22, 2024

https://www.dailywire.com/news/javier-milei-staunch-economist-brings-argentinas-inflation-to-less-than-3

Javier Milei, Staunch Economist, Brings Argentina’s Inflation To Less Than 3%
‘We are emerging from the desert, the country is starting to grow again’
By Hank Berrien
Nov 13, 2024 DailyWire.com

*** begin quote ***

Staunchly libertarian Argentinian President Javier Milei’s economic plans are proving enormously successful, as the country’s inflation plunged to 2.7% in October, the lowest level in three years.

*** and ***

n 2022, the Argentinian inflation rate was 72.43%. Barrons reported that when Milei took office last December, “monthly inflation leapt by 25.5 percent after he devalued the peso by more than 50 percent. It has since been on a downward trajectory, coming in at under five percent each month since May. … Milei, who wielded a chainsaw on the campaign trail last year as a symbol of his plan to slash public spending, has cut energy and transport subsidies and thousands of public sector jobs.”

*** end quote ***

Hopefully DJT4547 is watching this success.

We can only hope.

There are so many great ideas floating about.  Someone once said, Regan I think, that a President can only try to accomplish three things.  I hope world peace, immigration, the Federal deficit / debt / inflation, and making elections like Florida are DJT4547’s three.  Yeah I know that’s four, but what’s one more when you have a mandate.

—30—

Leave a Comment » | ECONOMICS | Tagged: , , , | Permalink
Posted by reinkefj

ECONOMICS: Both tariffs and income taxes get paid out of the same pocket — yours

Wednesday, November 20, 2024

https://www.cnbc.com/2024/11/12/trump-tariffs-companies-scramble-lobbyist-loopholes.html

‘Everyone is calling’: Trump’s tariff threats send U.S. companies scrambling for lobbyists and loopholes
Published Tue, Nov 12 20244:08 PM EST
Updated Tue, Nov 12 20244:46 PM EST
Rebecca Picciotto
Lora Kolodny

*** begin quote ***

Trump made universal tariffs a core tenet of his economic campaign pitch, floating a 20% tax on all imports from all countries with a specifically harsh 60% rate for Chinese goods.

*** end quote ***

It seems really simple  — tariffs or the IRS!

Both get the money from the same pocket  — we, the Taxpayers.

Without the income tax and the IRS, there’s no need for lobbyists and loopholes.  Pay when “stuff” comes in, no exceptions, and there is no need for an IRS,

We’ll still be paying.  Of course, there will be a period of adjustment.  Some prices will go up and some won’t.  We’d be changing the entire “incentive” structure back to one the Dead Old White Guys intended.

Of course, we should be very afraid on winding up with both!  That’s one of the arguments for any tax reform (i.e., flat tax; fair tax; national sales tax; etc. etc. Etc.).  

I’m not sure that One Fell Swoop (i.e., shut down the IRS and impose tariffs on the same day like February First) is the “best” implementation strategy but we drive on roads with potholes all the time.  So what.

I’d say: “Just Do It”.

—30— 

Leave a Comment » | ECONOMICS | Tagged: , , , , | Permalink
Posted by reinkefj

ECONOMICS: “End The Fed” and bring back prosperity

Sunday, October 27, 2024

https://www.lewrockwell.com/2024/10/lew-rockwell/why-equality-is-bad-2/ lewrockwell.com

No Compromise With the Fed! – LewRockwell

By Llewellyn H. Rockwell, Jr.

*** begin quote ***

Some people argue like this: Although the Fed as it now exists is very bad, a nation needs a central bank to regulate its money supply, and the Fed is better than nothing. That being so, we should try to urge the Fed to adopt a non-expansionary monetary policy. In this view, calls to “End the Fed” are mistaken. I’m sure most of my readers already know what I’m about to say, but, just to be clear, that view is disastrously wrong. We do not need a central bank, and to argue in the way indicated is to betray the great Murray Rothbard and the great Dr. Ron Paul, whose slogan “End the Fed” has galvanized so many of us.

*** and ***

The transitional demands, then, must be framed while

  •     always holding up the ultimate goal of liberty as the desired end of the transitional process; and
  •     never taking steps, or using means, which explicitly or implicitly contradict that goal.”

Let’s do every we can to end the Fed now! On this, there can be no compromise.

*** end quote ***

Imagine a world with no Central Banks!  Unimaginable?  Think of the USA before 1913, and you can imagine that.  Where “inflation” was negative.  Real money  —  commodity money  —  circulated freely.   Foreign coins, like the Spanish real, were used along side of gold and silver coins.  Prices were always coming down.  Want to save your old age, put some coins in a jar on the mantle like my paternal grandmother did  — right under her rifle over the mantle.

The best argument against the FED or any central bank that “prints” money is that it allows the Gooferment to inflate the currency to pay for wars.

#ENDTHEFED

We don’t need it and it’s evil.

—30—

Leave a Comment » | ECONOMICS | Tagged: , , , , | Permalink
Posted by reinkefj

ECONOMICS: UniParty is responsible for debt, unfunded liabilities, and Gooferment deficit spending

Wednesday, October 23, 2024

https://internationalman.com/articles/david-stockman-on-the-battle-of-the-liars-trump-versus-harris-and-the-folly-of-uniparty-economics/

David Stockman on The Battle of The Liars… Trump Versus Harris and The Folly of UniParty Economics
by David Stockman

<< EDITOR ADDED DATE 2024-10-18>>

*** begin quote ***

The Dem candidate brags about 16 million new jobs on the Harris-Biden watch and Trump claims the Greatest Economy Ever—evidenced in part by low inflation that his successor purportedly blew sky high.

Both are lying. Both ignore crucial matters of context—such as stage of the business cycle, Fed policy actions, forces arising from the $105 trillion global economy in which US growth, jobs and inflation are inextricably rooted and the fact of lag times in transmission of Washington policy into economic outcomes.

*** and ***

In any event, the real culprits are the spenders and money-printers. And not surprisingly, both candidates want more of both.

Editor’s Note: The amount of money the US government spends on foreign aid, wars, the so-called intelligence community, and other aspects of foreign policy is enormous and ever-growing.

It’s an established trend in motion that is accelerating, and now approaching a breaking point. It could cause the most significant disaster since the 1930s.

*** end quote ***

I keep banging the drum on “debt, unfunded liabilities, and Gooferment deficit spending at all levels”.

The UniParty makes picking the “lesser of two evils” a frustratingly failed strategy.

As Tom Woods says “No matter who I vote for I get John McCain”.  Sadly true.

All “We, The Sheeple” can do is prepare for the eventual collapse of the dollar when the debt becomes unrepeatable.  Till then remember the old military directive “get small in your hole”.   

As when I was counseling FOWG “turkeys”  —  Success for your generation is: (1) ruthless financial discipline — no bad debt; (2) a life long interest in learning — education — a degree — they can’t take it away from you; (3) a NON-OFFSHORABLE white collar job in order to save big bux; (4) a blue collar skill for hard times — never saw a poor plumber; (5) one or more internet based businesses — your store is always open; (6) a free time hobby that generates income; and (7) a large will-maintained network of people who can “help” you.

That’s the same advice for dealing with the UniParty’s economic disaster.

—30—

Leave a Comment » | ECONOMICS | Tagged: , , , , , , , , , | Permalink
Posted by reinkefj

ECONOMICS: My thoughts to save the USA

Friday, October 11, 2024

One would think that someone would recognize that “shipping all the jobs overseas” was a fundamentally flawed strategy to bankrupt the middle class. Seems obvious to me.

DJT’s tariffs would be a step in the right direction IF AND ONLY IF it was done “gently” (so as not to ignite a trade war) and strategically (focus on the key industries need in war time). Same with mergers and acquisitions approval.

In the financial realm, TBIF (too big to fail) is TBTE (too big to exist). Balance sheets should be limited to a reasonable amount percentage relative to the national GDP.

Unfunded liabilities by any entity should be outlawed.

Also, executive compensation should be “taxed” to the extent that it exceeds what the President is paid and any other compensation should be “laddered” (i.e., vested non-transferable corporate bonds staggered in equal amounts over a long term time horizon) say thirty years to encourage long term decision making (i.e., no sacrificing long term survival for short term profitability).

Don’t tax savings or whatever it earns.  Distinguish between savings, investment, and speculation.

—30—

Leave a Comment » | ECONOMICS | Tagged: , | Permalink
Posted by reinkefj

ECONOMICS: A new form of shrinkflation

Monday, September 30, 2024

Target reduced the number of baby wipes in a case from 12 to 8.  That’s a ⅓ reduction.  At a “new lower price”!  Which, of course, is more than ⅔ of the old price.  I guess they think we are stupid or math challenged! Argh!

—30—

Leave a Comment » | ECONOMICS | Tagged: , , | Permalink
Posted by reinkefj

ECONOMICS: The Wyoming stable token is the wrong direction; ND’s state bank is a better idea

Monday, September 2, 2024

https://a.tldrnewsletter.com/web-version?ep=1&lc=59038840-6904-11ee-b58c-ff3e3245800a&p=d6d820a0-6458-11ef-b2cb-45ae9ed9a73f&pt=campaign&t=1724760456&s=a4d4dc8d5599a4dfd9723c7b933879aee51bd33d73d67bdffb0cfe73c7647cc4

TLDR Crypto 2024-08-27

Wyoming is pushing crypto payments and trying to beat the Fed to a digital dollar 

Wyoming plans to launch the Wyoming stable token, a US-dollar-backed stablecoin, in Q1 2025. Its goal is to facilitate faster and cheaper transactions while introducing a new revenue stream for the state. The token will serve as a model for a federally digitized dollar, and the state will invest reserves into Treasury Bills to fund public schools. If successful, Wyoming hopes to expand to tokenizing other assets like commodities and real estate. 

# – # – # – # – # 

If WY is really interested in building up their State investing in US Treasury bonds is NOT a good long term strategy.  A better one would be to foster Wyoming businesses like ranches, farms, and homes with “friendly” financing for things whole within their State. The North Dakota bank is the exemplar of how to do it. All State, City, and local Gooferments can do their “banking” with the WY Bank and cut Wall Street out of the “supply train”.  By developing Wyoming’s financial infrastructure it can prepare for the hard times ahead.  Think local; act local.  #endthefed

Leave a Comment » | ECONOMICS | Tagged: , , , | Permalink
Posted by reinkefj

ECONOMICS: Remember you get what you pay for … …

Friday, August 30, 2024

FROM NEXTDOOR

*** begin quote ***

John German  — Milltown  —  2024-08Aug-20

I keep reading about people getting ripped off by home improvement people.

1) If you aren’t given a detailed quote on letterhead with a physical address you are taking a chance.

2) If you hire a tradesperson without a license, you are taking a chance. A licensed individual is accountable for his/her license and usually will not risk getting board complaints.

3) If you hire a person who has no insurance, you are taking a big chance. Ask for proof of insurance. If a contractor shows up at your house with a crew of day laborers and has no workers comp. insurance you can be held liable if they get hurt on your property.

4) A contractor should have the business name, location, license # on their trucks. That’s a law.

There is a reason some contractors charge more money, it’s called overhead. Licensed workers and insurance are for your protection. 

Years ago, a friend of mine hired a guy “on the side” to put in an oil burner. The guy did a lousy job with the connections. A day later, a line leaked. His entire 500 gallon oil tank sprayed out onto the basement floor. It went into the sump pump and it got discharged into his backyard which had a stream. 500 gallons of heating oil into the stream and the inexpensive guy was nowhere to be found.

*** end quote ***

Remember you get what you pay for … …

… … sometimes “cheap” is much more expensive.

—30—

Leave a Comment » | ECONOMICS | Tagged: , , | Permalink
Posted by reinkefj

ECONOMICS: Only the Gooferment could try to manage beavers

Wednesday, August 28, 2024

https://www.theguardian.com/environment/article/2024/aug/28/conservationists-warn-unauthorised-releases-beavers-english-rivers?ICID=ref_fark

Beaver-bombing’: unauthorised rodent releases on the rise in English rivers
Experts say trend is because of failure by successive governments to approve releases despite promises
Patrick Barkham
Wed 28 Aug 2024 07.05 EDT

*** begin quote ***

Debbie Tann, the chief executive of Hampshire and Isle of Wight Wildlife Trust, said: “We’ve got beavers living wild quite happily and quietly [across southern England] and yet to get a licence to release a native animal back into its natural habitat we’ve got to do this 100,000-word application to assess its impact on every single aspect of everything.”

*** end quote ***

Only the Gooferment could try to manage beavers … … with a 100,000-word application.

Hey, here’s a thought, deregulate anything to do with the beaver.  No forms, no bureaucrats, no beavers constrained and fighting to the death for their space.

Especially no “red tape” and all the people to shuffle paper.

Frankly I’d bet “Mother Nature” can control the beavers and provide for all the predators to feed off them with a meal.

Now if we could just find a predator to control all the politicians and bureaucrats!

Sigh!

—30—

Leave a Comment » | ECONOMICS | Tagged: , , , , | Permalink
Posted by reinkefj

ECONOMICS: On the positive side, though, the U.S. government won’t be able to waste … …

Monday, August 19, 2024

https://armageddonprose.substack.com/p/brics-alternative-currency-near-realization

BRICS Alternative Currency Near Realization, American Empire Death Imminent?
Ben Bartee  —  Aug 11, 2024

*** begin quote *** 

The U.S. government cannot print its way out of this mess because the only value that it derives from the dollar, it being based on nothing, is based on global demand.

*** and ***

On the positive side, though, the U.S. government won’t be able to waste nearly a trillion dollars on “defense budgets” any longer to start global wars, nor will it be in a position to export child trannyism or any of its other degenerate machinations throughout the world by leveraging its financial dominance. As long as finances matter, it also won’t be able to exert the same degree of domestic political oppression and surveillance as it once did — although it will certainly try to continue doing all of those things, possibly via World War III to try to maintain its global position.

Ben Bartee is an independent Bangkok-based American journalist with opposable thumbs.
Follow his stuff via Substack. Also, keep tabs via Twitter.
For hip Armageddon Prose t-shirts, hats, etc., peruse the merch store.
Support always welcome via the digital tip jar.
Bitcoin public address: bc1qvq4hgnx3eu09e0m2kk5uanxnm8ljfmpefwhawv

*** end quote ***

Recognition that the US$ is essentially worthless (i.e., can’t be redeemed for gold or silver) will doom the USA to hard times.

Remember the meme: “hard time make great men”.  So we can hope that the politicians and bureaucrats, that are replaced, are replaced with good productive visionaries that will get the Gooferment out of the way.

—30—

Leave a Comment » | ECONOMICS | Tagged: , , , , , | Permalink
Posted by reinkefj

« Previous Entries
Next Entries »