Traitors – all of them!

[Bill Bonner’s Diary]( Traitors – All of Them! By Bill Bonner Friday, July 9, 2021 [Bill Bonner] YOUGHAL, IRELAND – We write today with a jolly prediction: The war against inflation will be long… with sturm and drang… boom and bust… tears and laughter. Looking ahead, there will be battles won… and battles lost. A crash on Wall Street might produce a shocking deflation. Then, the forces of inflation will counterattack. Ultimately, this is a war inflation can’t lose. Because America will be betrayed by its own brass and blowhards. Recommended Link [Holy Cow, Only $19!]( [ad_img]( “Hi, my name is Jeff Clark. For the past 36 years, I’ve helped people from all walks of life make money in the markets. Retired stockbrokers… presidents of companies… people with almost no financial experience… and everything in between. But I haven’t done it the usual way… My method is different. It’s unlike anything you’ve probably ever seen before. [We’re unveiling it right now for just $19.]( That’s the lowest price my publisher has EVER offered for a trading research service… And it won’t be available for long. [Watch a ‘10-second live demo’ of this method]( to see how it works." [Watch Now!]( -- Inflation Update Here’s the latest on the battle, from The Wall Street Journal: Supermarkets are stocking up on everything from sugar to frozen meat before they get more pricey, girding for what some executives anticipate will be some of the highest price increases in recent memory. Some supermarkets said they are buying and storing supplies to keep their shelves full amid stronger demand. Grocery sales in the U.S. for the week ended June 19 rose about 15% from two years earlier and increased 0.5% from a year earlier, according to Jefferies and NielsenIQ data. Stockpiling by food retailers is driving shortages of some staples, grocery industry executives said, and is challenging a U.S. food supply chain already squeezed by transportation costs, labor pressure and ingredient constraints. Dear Reader Randy C. reports from the front lines: I just had my car serviced at the dealership. Took a stroll through the lot. EVERY new car – every single one – had a supplemental sticker beside the manufacturer’s sticker: a $3,500 “market adjustment” addition. No inflation worries? Uh huh. Yeah, right. Move along now. Nothing to see here. And CNN elaborates: Normally, a dealer selling a one-year-old used car will get about 80% to 85% of its original price, according to Edmunds.com. But, according to the site’s most recent figures, car dealers can now sell one-year-old used cars for about 95% of the original price. That’s the average. And some used cars and trucks are worth even more than they cost when they were new. [Featured: Shameful! See What Biden and the Democrats Just Did To YOUR Money]( Last War Against Inflation Let us put this in the simplest perspective. Forty years ago, Field Marshall [Paul Volcker]( led a successful war against inflation. He blasted it with higher reserve requirements to prevent the banks from lending money… and bombed it with a 20% interest rate on money lent to the banks by the Federal Reserve. The battlefield was littered with casualties – dead companies… failed investments… and desperate households. It was the worst economic calamity in America since the Great Depression. But when the smoke cleared, Tall Paul was still standing… and inflation was on the run. Recommended Link [Warren Buffett, Jeff Bezos, and Elon Musk Betting Big on This]( [image]( Jeff Brown has an important message for you… And it has to do with this new $30 trillion megatrend. But you better hurry because things are moving quickly. Warren Buffett, Jeff Bezos, and Elon Musk have been investing billions in part of a new trend CNBC called a “$30 trillion market just getting started.” Research firm MRP called it “a mania” and said… Stocks in this area “will experience exponential growth from here.” [Don’t miss out… to get all the details including how you could get access to names and tickers of several stocks that stand to benefit from this trend…]( [Click here]( -- Inflation Attack Now, four decades later, inflation is again on the attack. But what could you expect? America’s “base money” (the Fed’s balance sheet) was less than $1 trillion in the summer of 2008. Now, it’s over $8 trillion. That’s an 8x increase in the space of 13 years. And here’s colleague [Dan Denning]( on federal spending: …the Congressional Budget Office (CBO) projected this year’s federal deficit to reach $3 trillion, or 13.4% of GDP. It may be even bigger than that, if President Biden and Congress collude on more spending. But as is, it would be the second-largest deficit as a percentage of GDP since 1945. Those stimmy checks and unemployment toppers are giving people money to spend. But the free money doesn’t produce more goods and services. It only produces higher prices. [Featured: Have a Visa or Mastercard? Get Ready To Shred Them!]( Inflation Sympathizers Yes, it’s going to look a little like America’s last war against inflation. But this time, the U.S. is far more vulnerable. Its ramparts have been undermined by debt. Its elite warriors have grown fat – after decades of feeding at the funny-money trough. And its leaders have all become inflation sympathizers… who owe their wealth, power, and status to the enemy! In the last war, Paul Volcker was determined to win. In the next, Jerome Powell will aim to lose. Federal debt is more than 32 times what it was in 1980. Total debt – including household and corporate borrowing – is nearly 19 times higher. Paul Volcker’s war against inflation was a close call. Business, Wall Street, Democrats, Unions – none were ever fully behind the war effort. They wanted Volcker fired – not because he was losing the war, but because he was winning it. They burned an effigy of him on the Capitol steps and pressured President Reagan to cut him loose. (They finally got their wish in 1987… when Volcker was replaced at the Federal Reserve by Alan Greenspan.) Recommended Link [“This is bigger than NVIDIA, Amazon, and Bitcoin combined…”]( [image]( Former Wall Street insider Teeka Tiwari has an incredible track record… - He called NVIDIA at $32. A $500 stake would have turned into as much as $12,500. - He called Amazon at $77. A $500 stake would have turned into as much as $22,510. - And he called Bitcoin at $428. A $500 stake would have turned into as much as $74,445. Now he’s discovered something that’s bigger than all of those investments combined… What he calls a new "Liberty Code" that’s minting up to 25,000 millionaires – PER MONTH… You have to see for yourself what Teeka considers the biggest opportunity of his 30-year career. [Click here to find out more.]( -- How Today’s War Might Evolve Now, try to imagine how today’s war against inflation might evolve. Imagine the Fed’s key lending rate not at today’s 0.25%… but at 80 times that amount, at 20%… Imagine mortgage rates not under 4%, but over 13%… Imagine a grim recession imposed by the Fed itself… Imagine Joe Biden standing behind the Fed chief, even as the mob calls for his head… against the deafening howl and disgust of the Washington Post press, the Krugman economists, the Pelosi and Warren Congress, the Pentagon, the universities, and Wall Street. Unimaginable, right? White Flag Right. The trouble with a war against inflation today is not that it is unwinnable. The problem is that it is unfightable. Every sector of the Establishment is in cahoots with the enemy. None will oppose it seriously. And there… leading them all… will be the Commander-in-Chief himself, Joe Biden… …with a white flag in his hand. Regards, [signature] Bill --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Traitors – all of them!). --------------------------------------------------------------- FEATURED READS [The Federal Reserve Hints at Tapering Asset Purchases]( Reserve Chairman Jerome Powell says the Fed may taper off its monthly asset purchasing measures enacted during COVID-19. But its wary of triggering huge changes in bond yields in the process… [The New Space Race Is a Huge Trend in the Works]( founder Jeff Bezos and Virgin Group boss Richard Branson will soon become the first civilian men to travel to space… but they will not be the last. Flights on the Virgin Galactic mission are currently going for $250,000. Read on to find out why commercial space travel is on Brownstone Research founder Jeff Brown's radar… MAILBAG Dear Readers give their take on Bill’s essay, “[The Surrender of Inflation]( Eventually, the dollar will collapse, whether because of loss of credibility, social unrest, and rejection by global central bankers, or inflation. The IMF finds that dollar reserves held by central banks fell to a 25-year low, 59%, in 2020. The trajectory of Rome’s decline included a monetary depreciation during Diocletian’s reign, but there was a much longer period of pauperization of the middle class through heavy military requirements that forced small landowners to liquidate their land holdings. The monetary policy of the United States has also favored elites and idle poor at the expense of the middle class, resulting in a slowing of legitimate innovation, increased indebtedness, and the exit of middle class jobs. If the country becomes unstable, the dollar may crash. Inflation is not the chief issue with respect to developing a long-term strategy to respond to monetary instability. – Mitchell L. I think inflation is here to stay. The Federal Reserve has suppressed it. The Consumer Price Index ignores most of the items which fuel inflation. You can’t print oodles of funny money and not have repercussions. Most normal people that shop at supermarkets know that prices have risen dramatically or manufacturers have changed their packaging (read: smaller sizes) to accommodate. In short, prices are escalating beyond a normal person’s paycheck, and if you don't own any kind of assets, you’re in a world of trouble. – Charles K. Are asset owners the only ones “safe” from inflating consumer prices, as Charles suggests? How do the feds’ monetary policies suppress innovation, like Mitchell says? Write us at [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Traitors – all of them!). IN CASE YOU MISSED IT… [Are You Ready For Financial Lockdown?]( Few Americans seem to realize the repercussions of $11 TRILLION being pumped into the U.S. financial system in the past 18 months. If you’re counting on IRAs, 401(k)s, insurance policies, annuities, pension plans, stocks, or bonds, you NEED to prepare for what one former Goldman Sachs trader is calling “Financial Lockdown.” Learn what’s happening now, what’s coming next, and most importantly, what YOU can do to protect and grow your money in the years to come. [Click here for details (includes 4 steps to prepare now)]( [image]( --------------------------------------------------------------- Get Instant Access Click to read these free reports and automatically sign up for daily research. [image]( [An Insider’s Guide to Making a Fortune from Small Tech Stocks]( [image]( [The Trader’s Guide to Technical Analysis]( [image]( [The Ultimate Guide to Taking Back Your Privacy]( [Rogue Economincs]( Rogue Economics 55 NE 5th Avenue, Delray Beach, FL 33483 [www.rogueeconomics.com]( [Share]( [FACEBOOK]( [Tweet]( [TWITTER]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. 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