Committing Domestic Violence against Men . . . Just for a Giggle

2023-05-20

The talking heads on financial TV ask everyday where we are in the banking crisis. Is it over yet? After scooping up First Republic, JP Morgan’s Jamie Dimon said, “This part of the crisis is over.” After he said that, however, the shares of regional banks such as PacWest, Zions, and Western Alliance were cut in half. The market doesn’t believe Mr. Dimon.
Elisabeth Kübler-Ross described five stages of grief: denial, anger, bargaining, depression, and acceptance. ‎On Twitter, describing the typical timeline for a banking crisis, Real Vision’s Raoul Pal posted:
It’s one bad apple,
Well maybe it’s just a few
“Banks remain strong”
It’s the evil short sellers (we are considering a ban)
Ok, now we are banning shorts
Oh, seems that didn’t work
Cut rates
That didn’t work
Panic
Change . . .

2023-05-19

Speaking on a Columbia University Law School podcast, the chief economist of the Bank of England, Huw Pill, said Britons “need to accept” that they have been made poorer by the inflation perpetrated by the central bank. Price inflation today is a result of the record money creation by central banks, especially in the West, from 2020 onward. This was rationalized and justified by the mainstream narrative on covid.

The following are choice comments from the podcast.
If the cost of what you’re buying has gone up compared to what you’re selling, you’re going to be worse off.
So somehow in the UK, someone needs to accept that they’re worse off and stop trying to maintain their real spending power by bidding up prices, whether higher wages or passing the energy costs through on to customers.

2023-05-16

State projects are funded by your money, either through taxation or by inflation, most times both. Money is either taken directly from you or you lose purchasing power. The result is the same, as you will lose the ability to buy or produce as much as you wanted because of these projects. However, this is the alleged cost of living in a “civilized society.” Without these projects, we would be driving on dirt roads, living in shacks, and working for pennies a day.
However, these projects usually make the country poorer. Henry Hazlitt, in Economics in One Lesson, noted the unseen aspect of public works, such as a bridge project, writing:
If the bridge costs $1,000,000 the taxpayers will lose $1,000,000. They will have that much taken away from them which they would otherwise have spent on the