Trapped in ice

[Bill Bonner’s Diary]( Trapped in Ice By Bill Bonner Thursday, August 12, 2021 [Bill Bonner] POITOU, FRANCE – This week, the U.S. stock market touched yet another new record, after the latest figures allegedly showed a softening in inflation. Some news reports said inflation appears to have “peaked out” in July. But the “news” is not always a reliable source of information. The press has a few cards up its sleeve, too. And when it reported that inflation had “moderated,” it did not necessarily lay them all on the table. The actual reading for the consumer price index (CPI) went up last month, not down. Whether you look at the regular CPI or the “core” CPI (excluding food and energy), the number was higher for July than it was for June. Here’s the official data from the Bureau of Labor Statistics, without the media spin: In July, the Consumer Price Index for All Urban Consumers rose 0.5 percent on a seasonally adjusted basis; rising 5.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.3 percent in July (SA); up 4.3 percent over the year (NSA). You can even “stack” the numbers up over two years to avoid the alleged “COVID-19 bounceback.” They show the same thing – higher prices. Here’s Breitbart on the story last week: Inflationary pressures continued to rise in the services sector in July, surveys of business executives showed Wednesday. The prices index of the Institute for Supply Management’s survey of executives in services businesses rose to 82.3 percent, up 2.8 percentage points and the highest level for its price index since 2005. “Costs have risen dramatically in the last 45 days. Lodging, fuel, travel and supplies are all rising sharply. Costs for available labor are also rising, as demand increases in a diminished labor pool,” an executive in the construction industry said. Recommended Link [Bill Bonner: Shadow-Banned?]( [image]( Have [America’s top booksellers refused to carry Bill Bonner’s final book]( You won’t find new copies of Win-Win or Lose at Barnes & Noble… and not a single copy is floating around on eBay. In fact, the only used copy we could find was going for $79 on Amazon. Which is why Bill recently authorized us to take drastic steps to put a copy in your hands essentially free – as part of this limited time offer. [To claim yours, click here]( -- Global Phenomenon This is not just a U.S. phenomenon. Almost all central banks, like heroin addicts, are sharing the same dirty needle. And so are central governments. Spend… borrow… print. They spend to buy votes… and reward the elite who control the government. They borrow because they run out of money. And they print because if they had to rely only on what they could borrow honestly, interest rates would spike upwards, causing a panic and a depression. [Featured: New Investment “Craze” Hits All 50 States]( This silly system probably would have already caused a lot more inflation, but for the hard work of the Chinese, Indians, Vietnamese, Mexicans, et al. They labored so cheaply that for three decades, it offset the inflationary policies of Western authorities. But now, wages in low-wage countries are rising, too. And that, combined with dumbhead trade wars and COVID-19 restrictions, is forcing up prices all over the planet. Even the Teutons are not immune. MarketWatch reports: German consumer prices climbed in July, confirming preliminary data, the German statistics office Destatis said Wednesday. Consumer prices rose 3.8% on year measured by national standards, in line with the forecast by economists polled by The Wall Street Journal. They rose 3.1% on year by European Union-harmonized standards, also as forecast. Recommended Link [2,000X Bigger than Bitcoin? Forbes calls THIS the Future]( [ad_img]( LIVE ON CAMERA: The man who called #1 tech stocks of 2016, 2018, 2019 & 2020 based on return… Reveals the details of a new tech set to grow: - 113X bigger than the Internet… - 600X bigger than 5G… - 2,000X BIGGER than Bitcoin “This is the biggest investing moment in 400 years – and just $25 gets you in.” Brown believes the rollout could be days away… [Watch Jeff’s presentation HERE before it’s too late.]( -- Misnomer And while we don’t know what the inflation readings will be next month or next year… if they are higher still, we fully intend to say, “We told you so.” Because, between Delta variant panics, the Federal Reserve’s money-printing, and the [spend-a-palooza on Capitol Hill]( higher “inflation” rates will be hard to avoid. Here’s CBS News: The Senate passed a budget resolution early Wednesday that lays the groundwork for Democrats’ massive $3.5 trillion spending package, capping a flurry of activity just hours after senators approved a separate $1 trillion infrastructure bill. “Budget” is probably the wrong word. “Resolution” sounds off-key, too. “Budget” suggests self-discipline… and tradeoffs. It hints at limits… and that bad things will happen if you ignore them. Budget “busting” sounds like something you don’t want to do. None of those things seem to apply to the latest Senate whoopee moment. Funding (in fake money, of course) appears unlimited. No give-and-take is required. And nobody gives a damn if trillions of dollars are squandered on goofy projects. Recommended Link [Shameful! See What Biden and the Democrats Just Did To YOUR Money]( [image]( The U.S. House of Representatives voted to let the IMF circulate what could be a new elite-controlled reserve currency. Its exchange rate could effectively devalue the U.S. dollars in your pocket and your savings. It’s all part of a disturbing agenda called the “Great Reset,” endorsed by the likes of Alexandria Ocasio-Cortez and radical liberals, under the guise of “equality.” How can you protect your money and all you’ve worked for from this reset? [See this briefing on what to do next]( -- Dirty Word And the use of the word “resolution” is embarrassing. Resolute was the name of a 19th century British Royal Navy ship, which became trapped in the Arctic ice. By steadfast discipline and iron will, the crew survived two Arctic winters, skeletal rations, and a “hard march” across the ice to rescue ships. [Featured: (Bizarro World) Facebook set to launch new cryptocurrency?]( A year later, in 1855, the abandoned Resolute was found drifting in an ice floe by an American whaler, whose captain recorded the discovery in his journal: Finally, stealing over the side, they found everything stowed away in proper order for desertion – spars hauled up to one side and bound, boats piled together, and hatches closed. Everything wore the silence of the tomb. Finally reaching the cabin door they broke in, and found their way in the darkness to the table. On it they accidentally turned on a box of lucifer matches; in a moment one was ignited, the glowing light revealed a candle; it was lit and before the astonished gaze of these men exposed a scene that appeared to be rather one of enchantment than reality. Upon a massive table was a metal teapot, glistening as if new, also a large volume of Scott's family Bible, together with glasses and decanters filled with choice liquors. Near by was Captain Kellett's chair, a piece of massive furniture, over which had been thrown, as if to protect this seat from vulgar occupation, the royal flag of Great Britain. The “resolute desk” was made from the stout oak timbers of the ship, and now sits in the White House Oval office. The Resolute story is one of manful determination and commitment to duty. It is the opposite of the budget “resolution” story, which bespeaks an almost incredible disregard for risk, a total lack of foresight, and wanton jackassery. It is a shame to sully such a stand-up word by using it to describe such irresolute action by the U.S. Senate. Regards, [signature] Bill --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Trapped in ice). --------------------------------------------------------------- FEATURED READS [Now Is Not the Time to Buy a Refrigerator]( has hit the home appliance industry. Experts warn it is not the time to buy major appliances. The Labor Department reported that the price for appliances overall rose 4.9% in July compared to 2020… [The Best Way to Play the Infrastructure Bill]( Daily Dispatch editor Kris Sayce says there will be winners with this new spending bill… small cap companies. Find out what Kris and investment expert Dave Forest are predicting as the perfect play... MAILBAG Dear readers appreciate Bill’s stories from his home in France (catch up [here]( and [here]( and meanwhile, the COVID-19 vaccine debate continues… You are writing out of your elite league this week!!! Your Monday, Tuesday, and Wednesday essays are among your best! An especially bright LED light comes on as you describe Argentine ranch life, the beach in Central America, your humble Irish abode, and your French home place. Owning the different roofs over your head makes for joyful remembering and interesting reading for your fans. Please know that there is a real need for this descriptive, down-to-Earth unfolding of your world, wherever you roost, amidst this complicated, multi-trillion-dollar deficit world. Thank you for this refreshing break! – MEH R. We’ve been trying for nine months, now, to move into a fairly nice house on a cul-de-sac, after living in an old (1829) farmhouse for 35 years and raising six kids. So many memories, so similar to yours! We’re almost ready to cut the cord, but it’s truly traumatic. Meanwhile, at 67, I’ll never get to retire, and reroofed the 8x12 shed at the new house. It sure does feel good, though, to do things with my own hands! Aside from being a financial wiz, I so admire your personal thoughts and writing quality. – Richard K. I am 71 years old and received the shot in February. I remember when I was young and the plague du jour was polio. We all lined up at the local school to get the sugar cube. There was no debate whether we should or shouldn’t take it. We took the cube and, believe it or not, polio all but disappeared! What a concept. Take a medical “cure” and it actually did what it was supposed to do. Nowadays, though, we are so politically correct that we don’t want to offend anyone or trample on their rights. Here is one good reason to take the shot: it will get Anthony Fauci off the podium. There have been no reports of people growing a second head or a third arm. For those that say there will be problems down the road, I say it is better to have this shot than get the virus. – Jerry K. Should the government have a say in whether we are vaccinated or not? What will become the state of the U.S. if we continue borrowing money we don’t have and can never pay back? Write us at [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Trapped in ice). IN CASE YOU MISSED IT… [Wall Street Legend Who Picked Bitcoin in 2016 Shares #1 Pick for the 2020s…]( Picking the right “investment of the decade” can transform your life… Microsoft in the ‘80s… Amazon in the ‘90s… Apple in the 2000s… Bitcoin in 2016… Any one of these could have made you a millionaire many times over. Starting with very little. Today, the Wall Street legend who picked the last “investment of the decade”… months (even years) before his peers… will finally reveal his new #1 pick for the 2020s. It’s not 5G, artificial intelligence, EVs, or clean energy. The answer will surprise you. And for those who take early action, it could lead to [a massive potential payout](. [See #1 Pick.]( [image]( --------------------------------------------------------------- Get Instant Access Click to read these free reports and automatically sign up for daily research. [image]( [The Gold Investor’s Guide]( [image]( [How to Earn Free Bitcoin]( [image]( [The Trader’s Guide to Technical Analysis]( [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. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Rogue Economics welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. 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