Bezzle, bezzle, boil and bubble

[Bill Bonner’s Diary]( Bezzle, Bezzle, Boil and Bubble By Bill Bonner Tuesday, October 19, 2021 [Bill Bonner] BALTIMORE, MARYLAND – What a marvelous time to be alive… with a front-row seat to watch a great empire stumble and fall! It only happens once every hundred years or so… So pull up a chair and enjoy the show. Here’s the big news, from Bloomberg: U.S. Factory Output Falls in Fresh Supply-Chain Warning Production at U.S. factories fell by the most in seven months in September, in part reflecting a sharp pullback in the manufacturing of motor vehicles as well as broader backlogged supply chains and materials shortages. Supply chain? What’s happening is much more than just a weak link. Adjusted for inflation, real industrial production has been going down for half a century and now is only a third of its 1968 level. Recommended Link [“Buy This Now… It’s Already Making People Rich”]( [image]( If the image of this ticker symbol appears blurred for you… [Click here and get the ticker… no strings attached.]( If you don’t, you might regret it later because, according to Forbes… When all is said and done, “a new class of millionaires may emerge.” [Click here to get the ticker (no purchase necessary).]( -- Falling Apart The U.S. enjoyed a fake prosperity for the last 30 years – but only because China picked up the burden of manufacturing and sold goods to Americans at discount prices, keeping inflation in check. And now, the U.S. no longer has the good jobs, the infrastructure, or the know-how to make things Americans want. Instead, appliances and geegaws are shipped across the Pacific Ocean – at enormous cost – while the discounts disappear. [Featured: Are you ready for Congress’ “Wealth Transfer Act”?]( China’s raw materials costs – metals, fuel, etc. – are going up. So are its wages. It can no longer offset America’s money-printing with cheap products. Yes, here in the U.S., “inflation” is now out in the open… and the whole scam is coming apart. CBS News reports: A perfect storm of high demand and low supply is sending fuel prices through the roof. Driving your car is costing a lot more – and heating your home this winter could, too. […] The national average for a gallon of regular unleaded gas this week is $3.27 – a seven-year high. According to GasBuddy, a price tracking service, the price of a gallon nationwide has gone up more than five cents in a week. Meanwhile, benchmark crude oil prices have risen above $80 a barrel for the first time since 2014. As a result, Chicago-area utilities are projecting that heating bills will be up to 50% higher this winter. The New York Department of Public Service warned residents last week that their home heating bills could jump 21% compared to last winter. Recommended Link [Amazon, Apple, Google, and Microsoft Quietly Racing to Fix This]( [image]( As we speak... Amazon, Apple, Google, and Microsoft are all teaming up. They’re scrambling to get in front of [the largest screwup in the history of the tech industry](. Millions of innocent Americans are at risk of being destroyed by this. Yet while Big Tech is in a panic… A select group of Americans aren’t worried at all, they’re preparing for the trade of a lifetime. What is this “screw up”? And how could it be so profitable--yet so dangerous--at the same time? [Click here to view a full briefing on this situation.]( -- On the Case But don’t worry. The Biden team is on the case. Spotted on Bloomberg last week: Biden Seeks to Spearhead New Attack on Supply-Chain President Joe Biden will turn his focus to supply-chain transportation bottlenecks on Wednesday, as the congested Port of Los Angeles will announce a 24 hours a day, seven days a week effort to confront the squeeze on goods. But is the president really doing Americans a service by making it easier for them to buy Chinese products? Both the Trump and Biden administrations share the same COVID-19-fighting strategy – close up U.S. businesses, but give Americans money so they can shop for Made-in-China goods. Here’s the Asia Times: Gobbling China’s exports, US sinks into dependency China’s exports rose 28% in September from the year-earlier level, more than the analyst consensus had forecast. More important is that China’s exports to the United States have risen by 31% since January 2018, when President Trump imposed tariffs on a wide range of US imports from China. At a seasonally adjusted annual rate, the US is buying $635 billion of Chinese goods, equal to a staggering 27% of US manufacturing Gross Domestic Product. [Featured: The End of the NASDAQ…]( Fraudfest [As we’ve been saying]( the whole thing is a fraudfest. From the most basic premises – that wise guys in Washington can make decisions better than consumers, producers, and investors… …that American “democracy” follows the “will of the people”… and adapts to its needs… …that elected officials know how to run a shipyard better than people who’ve been doing it all their lives… people with skin in the game and real brains in their heads… …that you can spend more than you earn, year after year, and cover the deficits with “printing press” money… …and that this fake money actually “stimulates” the economy – it’s a “bezzle.” From start to finish. Dishonest. Corrupt. Incompetent. Recommended Link [The 3 Top Stocks to Trade in 2021]( [image]( Jeff Clark calls it the “3-Stock Retirement Blueprint.” It’s a way to play 3 stocks and potentially make more money than you would by trading all the rest of them… His method is unlike anything you have ever seen before… And it’s being unveiled for just $19. That’s the lowest price EVER offered for a trading research service… but hurry, it may not be available for long. [Get all the details here]( – including the names and ticker of the three stocks. [Click here and watch this 10-second “live demo”.]( -- Fake Prosperity You can’t “print” prosperity. You can’t make an economy work with five-year plans. And “democracy” does not mean that the majority always gets what it wants. Nope. It gets whatever bone the elites toss its way. But while tossing out scraps was easy when the economy was growing, of late, it’s become much more difficult. The U.S. squandered trillions on its [misbegotten wars and social programs](. Now, it’s got a $3 trillion deficit – even without a recession. And this week, Republicans and Democrats consider the next trillion-dollar-plus programs… while the printing presses run hot to pay for them. More to come… Regards, [signature] Bill --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Bezzle, bezzle, boil and bubble). --------------------------------------------------------------- FEATURED READS [The Global Economy’s “Perfect Storm”]( is global, from chicken in Britain, to beef bowls in Japan, to rising energy costs in countries preparing for winter temperatures. It’s an economic “perfect storm,” says Hellenistic Shipping News… [You Can Beat Inflation With Stocks and Hard Assets]( Research Group’s Chris Lowe talks inflation and how you can stay ahead of the game… read more about this “simple recipe” for beating inflation by moving your wealth out of cash and into hard commodities… MAILBAG Dear readers comment on Bill’s essay, “[Forward, Into the Past]( So, conveniently, you dismiss 50 years of faux “trickle-up” economics. Of course, Main Street has been looted. Print money and funnel it to the rich. Then, cry “socialism” when former middle-classers ask, “Hey, what happened?” and look for a bowl of soup for their troubles. The government keeps the masses fighting over the false liberal versus conservative paradigm, abortion, and immigration… while they pick our pockets. – Michael M. I’m by no means in that top 10%, but at least a third of my “wealth” is in the stock market. This includes 401(k) accounts and the like. What you’re saying (and have been saying all along) is that my “investments” would likely drop by at least a third if financial common sense were to be applied. That $30 trillion lost by the elite would be nothing compared to what my loss of 33% of my “wealth” would do to my wife and I. – Stephen S. Two things that are happening that have caused our faux inflation. One, Joe Biden said he was at war with the fossil fuel industry. He eliminated drilling in Alaska and all federal lands in the lower 48 states. Two, there are limitations on who is allowed to pick up containers in Long Beach and LA harbor. There are thousands of drivers that would love to move containers to their new homes, but Biden and company will not allow them to move the freight. In case you don’t realize it, this is not economics gone awry. This is Biden ruining our country. Our president could screw up a one-car parade! – Kenny G. We are not a democracy, we are a constitutional republic. The founding fathers despised democracies for the very reasons you talk about in your article. But I guess the way we are heading, we are slowly degrading into a democracy. Enjoy all your articles. Thanks. – Michael A. Is “going to war” with the fossil fuel industry fueling inflation, as Kenny says? How can the U.S. become prosperous again? Write us at [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Bezzle, bezzle, boil and bubble). IN CASE YOU MISSED IT… [Brace Yourself]( Our country is falling apart. And it’s about to get much worse. The siege of the Capitol… the riots and protests… the political division… that’s all nothing compared to [what’s coming next]( soon as hours from now. The most important thing you must do, right away, is this… Protect your wealth while you still can. [Click here to learn what’s going on–and how you can prepare.]( [image]( --------------------------------------------------------------- Get Instant Access Click to read these free reports and automatically sign up for daily research. [image]( [The Trader’s Guide to Technical Analysis]( [image]( [The Ultimate Guide to Taking Back Your Privacy]( [image]( [How to Earn Free Bitcoin]( [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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