Our Leaders Have Gone Mad

Fighting Inflation With More Inflation Were you forwarded this email? [Sign-up to The Daily Reckoning here.]( [Unsubscribe]( [Daily Reckoning] Our Leaders Have Gone Mad - “The value of the dollar is sinking rapidly, more rapidly than in our lifetimes”… - Fighting inflation with more inflation… - The biggest drop in living standards since the early 1930s… Recommended Link [Attention! Before You Read Any Further…]( Before you read any further in today’s issue, an urgent situation needs your immediate attention. If you don’t plan on claiming this new upgrade to your Strategic Intelligence subscription, you’re missing out on a huge opportunity. Right now is your chance to grab one of the biggest (and most valuable) upgrades our company has ever made to a newsletter. I’m taking Strategic Intelligence to an entirely new level and I’d hate to see you left behind. [Click Here Now]( West Hartford, Connecticut March 25, 2022 Editor’s note: Ronald Reagan said that government was the problem, not the solution. Today, Jeffrey Tucker shows you how government plans to fight inflation… by creating more inflation. [Jeffrey Tucker]Dear Reader, Have a look at the shock on people’s faces as they leave the grocery stores these days or as they stand filling up their tanks at the gas station. Their jaws drop and they wonder what is happening to the world. The answer is the policy disasters of the last two years. The bill is coming due and everyone but the masters of the universe is paying it. The value of the dollar is sinking rapidly, more rapidly than in our lifetimes. Nor is it coming back. The people who hold power today seem completely clueless about why this is happening. Actually, that’s a charitable interpretation. They might just think it is great. High gas prices are pushing a shift to electric cars, presumably to manage global climate (I’m a serious doubter that anything like that is possible by policy). Or maybe there is an impulse here just to redistribute wealth and disorient people to create new levels of dependency. Whatever the reason, I’m seeing absolutely no signs that anyone at the top has any intention to put a stop to this. Kill the Snake in the Garden! The Biden administration — total geniuses up there! — have been hunting around for the source of price increases, as if there is some single-greatest offender out there in the markets. They won’t blame the Fed of course because the Biden administration considers a monetary policy war against inflation to be a potential political disaster. It would drive the economy into a statistical recession. Then they would doom themselves at the midterm. Better to let inflation rip than risk that. So instead, they are looking to scapegoat market actors. It’s preposterous: Markets are linked in ways that are impossible to trace and understand. You cannot map it. It’s too complex. It cannot be designed. It cannot be gamed. But tell that to the credentialled experts who believe that they have it all going. So some geek in the White House noted that shipping prices are through the roof. They reasoned that these high costs are putting pressure on all producers, which in turn are being passed on to consumers. What to do? Crack down on the shippers! Recommended Link [America's #1 Futurist Warns of Big Changes in 2021…]( [Read more here...]( A whopping $16.8 trillion worth of the world market could undergo a radical transformation, according to this famous author and visionary investor. And you could share in the windfall. [Click Here To Find Out How]( That’s exactly what they have done by unleashing the Federal Maritime Commission, an independent government agency that oversees ocean transport for American consumers and shipping firms. What the heck is the FMC going to do? Oh, harass people. Send letters. Investigate. Make big demands. But this much is clear during inflation: Everyone, without exception, has a thoroughly valid reason to raise prices. In this sense, they are all telling the truth that it is not their fault. Finding the key offenders during a hyperinflation is like hunting for the offending cloud during a hurricane. Another Stimulus One of the great independent journalists who has really found his mojo during this crisis has been Jordan Schachtel. His Substack account seems often ahead of the major news. He drew my attention to something so bizarre that I never imagined it would happen. He believes that the politicians are, right now, plotting another stimulus check drop on citizens as a way of helping people deal with inflation. True story! It’s actually a level of policy insanity I’ve not seen in my lifetime. This would be like pushing a drowning man deep underwater. Far from coming to terms with their mistakes and acknowledging their errors, the rulers of our fiat system, in their infinite wisdom, may soon decide to fight inflation with… you guessed it, more inflation. Sounds crazy? No way they would be that ridiculous, right? Well, I have some news for you. It’s already happening in Canada. Quebec has announced that they will give a $500 stimulus check to everyone that makes $100,000 or less. This handout, which is expected to reach 6.4 million Canadians, will "help Quebecers cope with the sharp increase in the cost of living that we have seen in recent months,” Finance Minister Eric Girard said Tuesday. Following Canada’s lead, a group of Democrat congressmen have just introduced a bill to hand out “gas price stimulus checks” to Americans. The timing of this new bill should not go unnoticed, as midterm elections are just around the corner in November. Recommended Link [Trump’s Final Gift To America]( [Read more here...]( There’s a little-known way Trump could – one day – have his revenge. It involves a Federal Ruling he oversaw in the final year of his Presidency that could change America forever… unleash an estimated $15.1 trillion in new wealth… and create countless ways for everyday Americans to benefit. What is this little understood decision? And how will it impact you? [Click Here To Learn More]( Three congresspeople are hyping a bill to give up to $300 a month to citizens who live in areas where gas prices are above $4 per gallon. Do the math on this and you end up with an annual bill of $340 billion. This comes after many people in Congress have started to slightly worry about their spending programs. And of course, once you do this with gas, there is no reason not to do this with food, rent, medical bills or anything else. You end up with a mind-blowing system in which government is forever printing up the currency to compensate people for the consequences of previous money printing. CNN is helping to drum up support: The administration should ask Congress to authorize a payment of $1,100 per household to pay for four months of higher prices going forward, and provide an option for the president to provide a second or even third check to low-and-moderate income families for an additional four months in the event that prices remain high. We don’t know when this crisis is going to end or when prices for essential goods and services will return to more affordable levels. It’s the Interwar Period All Over Again Here we have a scenario straight out of the history books. We are talking about Weimar-level insanity here. But what’s to stop it? The current political winds all lean in this direction. So long as Democrats are in control and the Republicans are stupid and afraid, even as the Fed is embarassingly bowing to every political pressure, something like this cannot be stopped. If this continues, we could be looking at a full-scale monetary crisis of epic proportions, as we approach the midterms. Even then, Congress under Republican control simply cannot manage the Fed, which owes its entire allegiance to the executive in the White House and the deep state. That means two more years even after November of utter policy disasters. Wow, I really do get tired of reporting terrible news! I wouldn’t have to if the major media could cover these topics with any level of intelligence or honestly. But they don’t. And the failure to do so is having a major impact on the standard of living, which is taking a hit much harder than we have seen since the early 1930s. This is both in the U.S. and Europe. Really all over the world. We can hope and pray for policy rationality to return. But we must also be realistic. This is a crisis with no end in sight. Regards, Jeffrey Tucker for The Daily Reckoning Editor’s note: If you have money in a U.S. bank account. If you have money in a U.S. brokerage account. If you have money invested with a financial planner… Then we suggest you drop what you’re doing and watch [this urgent message.]( That’s because a brand-new technology ([that’s projected to grow 9,900% over the next five years]( is quietly disrupting the whole entire financial services industry. That’s a big claim. But it’s only possible because of this new technology. But hurry. This new piece of financial tech is eating the financial services industry much faster than almost anyone could possibly imagine. [Go here now for all the details.]( --------------------------------------------------------------- Thank you for reading The Daily Reckoning! We greatly value your questions and comments. Please send all feedback to [feedback@dailyreckoning.com.](mailto:dr@dailyreckoning.com) [Jeffrey Tucker]( is an independent editorial consultant who served as Editorial Director for the American Institute for Economic Research. He is the author of many thousands of articles in the scholarly and popular press and eight books in 5 languages, most recently Liberty or Lockdown. He speaks widely on topics of economics, technology, social philosophy, and culture. Add feedback@dailyreckoning.com to your address book: [Whitelist us]( Additional Articles & Commentary: [Daily Reckoning Website]( Join the conversation! Follow us on social media: [Facebook]( [LinkedIn]( [Twitter]( [RSS Feed]( [YouTube]( The Daily Reckoning is committed to protecting and respecting your privacy. We do not rent or share your email address. By submitting your email address, you consent to Paradigm Press delivering daily email issues and advertisements. 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