Greatest Economy Ever

One of the Biggest Lies Ever Told

Welcome once again to the asylum, my dear readers. This week, we will discuss the economy, which has been in a recession for almost two years. We have already discussed how the inflation numbers are cooked for political points (here). I realize there is much talk of the most robust economy ever (here, here, and here). The media even tries to gaslight everyone with articles about the excellent economy, but people are just too stupid to realize it (here, here, and here). As I explained, there are two economies in America: the real economy, where ordinary people must live on deprecated dollars, and the paper Wall Street economy, with fiat and derivative assets (fraud that gives ownership of one thing to multiple people). The second economy gets to use Fiat before depreciation to buy and sell shares of itself to artificially boost its value (here, here, and here).

We have reached the end stage of Fiat, something Ludwig Von Mises called the ‘crack up boom’. It is still early in the process, but we are here. A crack up boom occurs when credit is expanded too far, resulting in hyperinflation that wipes out middle and lower classes while at least temporarily boosting the markets and financial assets (here). In recent history, crack up booms have happened in Zimbabwe, China, Argentina, and Brazil (here). In the final stages, the paper economy failed after the working classes were devastated.

Let's scrutinize the numbers: unemployment is supposedly at record lows. The peculiar thing is that every time a number is released, it's celebrated as a great success, and the job market is hailed as sizzling. This becomes a headline, dominating the media cycle for a few days. But then, in a hushed manner, a month or two later, the numbers are revised down, missing the mark. This discrepancy raises serious questions about the reliability of the reported unemployment figures (here and here). These false numbers are to avoid a trigger event that causes consumers to lose confidence. The problem is whether or not people are feeling the pinch, and all the lies will do is compound the damage done by the CDC and FDA, further destroying confidence in the government (here).

Right now, a record number of people, 40% of all adults, worry most or all of the time that they won’t be able to pay the basics for survival. That is higher than the Great Recession of 2008, which peaked at 38%. Further, 71% of people worry about being able to meet day-to-day expenses.  Among Millennials, 77% are financially stressed, with Gen Z close behind at 75%, and Generation X coming in at 74%; while less worried, the boomers still report 59% of their numbers are feeling the pinch. These statistics should not just be numbers, but a call for empathy and concern for our fellow citizens (here, here, and here). Food and housing are two areas where people are suffering the most with 80% of all people noticing a rise in the cost of food (here).

Then there are the store closings. Family Dollar is closing 600 locations, CVS 300, Foot Locker 113, Express 107, Rite Aid 77, Conn’s 71, Macy’s 50, Big Lots 40, and even the mighty Walmart is closing locations. As store closings surge nationwide, residential and commercial construction is down, and commercial real estate continues to collapse. The impact of these closures and collapses is severe, affecting not just the economy but also the lives of many. The icing on the cake is that residential foreclosure rates are also skyrocketing (here, here, here, here, here, here, here, and here).

Even with all that, ‘we are not in a recession, real unemployment isn’t around 18%, and actual inflation isn’t in the double digits’ because the government says so. Never mind that housing and food are now capitalizing 55-60% of total household income for many families. The plebiscite rubes must be grateful to Bidenomics for saving the day with the most excellent economy ever.

All joking aside, the numbers are that atrocious, and in an honestly good economy, you don’t have closings, defaults, and worry like we see now. It is because this is the crack up boom, so hold on and wait for your ten trillion-dollar bills that won’t quite buy a loaf of bread.

Romans 15:13

May the God of hope fill you with all joy and peace as you trust in him, so that you may overflow with hope by the power of the Holy Spirit.

God Bless you,

-Sam

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