Shh. Youâre not supposed to pay attention to that! Part-time jobs that donât pay a living wage and government jobs? No, youâre supposed to think the private sector is churninâ and burninâ with full-time roles and if youâre unemployed, well, itâs your own damn fault.
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In May of 2023, I published a podcast episode to warn that I felt we were moving out of the Opening Act into Act 1 of this economic nightmare. I believe the November election will usher in Act 2. What exactly will this look like? I dunno. Quite frankly the information I'm hearing is not good.
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Remember Bill Hicksâ routine about government-approved rock? Donât you wanna be at a concert and look over to see Dan Quayle standing next to you? You know youâre partying then, you know youâre on the edge! We might be up til 11pm tonight! đ
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John Wrightâs predictions of what would happen with a tight money and high interest rate policy happened. Following Volcker, Alan Greenspan was appointed and led a supposedly booming economy. He also told people that it was impossible to know an economic bubble was happening while it was happening, which is absolutely absurd.
The US economy is based on consumption rather than production. So what happens when the consumer canât consume? Will hiking interest rates to the moon really solve the problem?
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I'm sure corporate profits did go up. Have these profits trickled down to John & Jane Q. Public living paycheck to paycheck and using BNPL for food? đ
The people (or bots, who knows) in the comments section seem bent on making this a partisan issue of Senile Old Man versus Orange Man. I don't. I don't like either one and feel like we're effed either way. It's not about "oh, if you like Biden, the economy is healthy" and "if you think the economy sucks, you must be pro-Trump." Don't get sucked into this divisive narrative. It's like the cartoon of the cow who has two different entrances to the same slaughterhouse.Â
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These notions of permanent inflation and âyou donât want deflation, little peonâ are priming the pump for you to get the fantasy out of your head that weâll ever see 2018-2019 prices again.
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Weâre expected to believe the system has simply always been as it is now, like a yo-yo dieter who loses a few, gains more back, loses a few, gains more back, on and on. Like a system dominated by the Fed and its bullsh!t cycles of QE and QT is the best we can do and we should accept it and go back to sleep. Reminds me of Bill Hicks:
Go back to bed, America. Your government has figured out how it all transpired. Go back to bed, America. Your government is in control again. Hereâs American Gladiators. Watch this, shut up. Go back to bed, America. Here is American Gladiators. Here is 56 channels of it!
The questions weâre not supposed to ask are WHY do we live this way? WHO profits from it? HOW did it get this way? Youâre supposed to shrug your shoulders and blithely say, âI guess this is how the world works.â
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Once you've done all that you can, what's the point in panicking or getting super pessimistic? Anything we accomplish starts with a thought. If we get into a negative thought loop and we expect disaster all the time, guess what? That's what we'll get.
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Thatâs because people outside of the top 1/3 are tapped out. As Iâve warned before: you canât run an economic engine on consumption alone. Somethingâs gonna give.
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I had a friend who worked in print journalism for years and loved his job. He admitted to me, âI knew the industry was dying and I knew layoffs were coming, but I chose to ignore it because I hoped maybe it wouldnât happen to me.â He was unemployed for a long time before he was able to make a career change. In the process, he obliterated his savings account and experienced a lot of stress.
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The Fed doesn't give two đ© about John & Jane Q. Public. Now they can trot out to the MSM and say that they want to avoid unemployment but, golly gosh, in order to do it, we gotta keep inflation up. Do you really believe that? It seems to me they are setting us up for a scenario of: you can live with high inflation or we can crash the job market and you can be out of work, what do you want?Â
In reality, I believe we'll have to deal with both.Â
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Thatâs true for so many people in the middle class, working class, and poor. There was a perhaps a path but if itâs still there, itâs a lot longer and harder.
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"40-year-old homeowner says economy doesn't add up: "I'm making the most money I've ever made, and I'm still living paycheck to paycheck"
-https://fortune.com/2024/03/15/why-economy-bad-making-most-money-ever-living-by-paycheck/
IT DOES ADD UP. IT ADDS UP FOR THE FAT CATS IN THE CRONY CAPITALIST SYSTEM WHO PROFITEER MERCILESSLY OFF OF EVERYONE ELSE!
If this is new news to you, who have you been listening to?!?!
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*Gestures broadly*
Hereâs the thing: these uncertainties are not isolated to the auto industry. I understand this sounds pessimistic, but I know what I am seeing in real time. Even contract and freelance gigs are harder to come by, let alone a full-time job that pays a living wage
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Iâm just going to stop here because I really want you to think about that for a second: by 1981 $1 is worth about 45 cents. Thatâs how bad things got by taking away the gold standard and saying we need to be able to print up reams and reams of fiat currency at will. Thatâs how much devaluation happened just in that span of time. I want you to really think about that because whenever you hear these talking heads and social media morons that are drunk on their own toxic positivity or theyâre paid shills or theyâre bots, who knows. And they say, âWe would never have a dollar collapse, we would never have a dollar devaluation, weâre always going to be the worldâs reserve currency. Everybody respects America, respects the dollar, right?â Believe that at your own risk.
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If having a strike really worked as a long-term solution, John & Jane Q. Public would never be allowed to do it. These allegations against YT Music are particularly damning because they made the unionized folks train their own replacements . . . who are overseas workers probably making pennies on the dollar.
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*SCREAMS IN EXISTENTIAL AGONY.*
Now I know why Edvard Munch created âThe Scream.â
The disconnect is intentional. As I have warned many, many times across platforms: you can pay an economist to say anything you want. If they are wrong, they face zero consequences. Iâve also warned that some of yâall gonna listen to these so-called experts and go right off a cliff.
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