Protect your PP (purchasing power) against government created inflation
With a laser eye focus on the economy, I have been researching deep in the rabbit hole on the cause of Inflation in order to arrive at a plausible recommendation for a solution but it is increasingly looking like our esteemed leaders are bound to make a pigs breakfast of the entire charade.
Muppets like Biden and co are now shifting the blame on corporations. First we started with blaming Trump, then supply chains, the scamdemic, Putin and now the government has done a 180 to point fingers at corporations.
I do not support the corporations whatsoever but what the Biden administration is trying to do here is just disingenuous and flat out appalling.
The real situation from Noah Smith’s Substack:
Higher costs for companies (taxes) will indefinitely raise prices. But it will also reduce profits. When companies with monopoly power see their costs go up, they do manage to pass on a lot of the cost increases to their consumers, but they also take some of the hit themselves. So the idea that companies would be exploiting a supply shortage in order to make record profits just doesn’t make a lot of sense.
In other words, in order to accept the “corporations are greedy” story, you also have to accept that the fundamental impetus for inflation came from government largesse.
Jeff Bezos had some words for Creepy Joe in response to his misinformation tweet meant to deflect and misdirect the many poor:
Jeff Bezos was on fire!
And Peter Schiff too,
But to be honest, it is not so clear as they make it seem in response to the root of inflation.
To derive the answer, one must be increasingly willing to consider a much more multifaceted causality:
Money printer go Brrr (QE since GFC of 2008)
The Greed of corporations
The monopoly of Industries
Supply chain break down (since 2020)
Covid relief payments and stimulus (also since 2020)
Automation of economy and industries
Maybe the solution is staring us down in the face even at a 63% discount?
In other positive, solution seeking news, our erstwhile Bitcoin El Salvador President Nayib Bukele announced 44 countries are meeting in El Salvador to discuss BTC role in their countries.
Something big might come out of this created destruction..
Is it a coincidence that last week, the Nigerian government regulated and technically legalized the use of cryptocurrencies and digital tokens?
I do hope and pray it does NOT have anything to do with the totalitarian CBDC currently in the works. Or a merger of some kind, I hope not.
What keeps me up at night is what the official institutions will do to the cryptocurrency space once their CBDC’s are out and in effect.
See you tomorrow!
- Ope