I've been hearing a lot more about inflation concerns and how inflation would benefit those with a lot of debt. Of course, that benefit would depend on whether their earnings would match the rate of inflation, which means it would really only benefit those with flexible revenue streams and not those with fixed yearly incomes, so this really only leaves those who have become incredibly wealthy through debt and large businesses.
Democrats are really trying to spend as much money as they can it seems with more and more trillion dollar plans on top of the yearly budget, so it seems increasingly likely that this plan not only tries to appeal to those easily persuaded by freebies, but is also intentionally destroying the economy in the interest of the wealthy elites, which most likely includes many of the politicians currently in office, so that they can pay off the exorbitant amounts of debt that they have used to get that wealth.
It's just astounding how reckless the silent generation/boomers have been in destroying everything their predecessors built. They will never own up to their mistakes and instead would rather take the whole system down to stay afloat for 5 minutes longer than the rest of us.
In my opinion they are crashing the economy on purpose in general. They want to take the money away from the peasants. Peasants being anyone who isn't part of their ultra-wealthy club. Even millionaire small business owners are peasants to them.
After crashing the economy, killing jobs, generally making people poorer, they will start pushing all kinds of new economic policy. The policy will be designed to increase dependence on government. Since people will be desperate financially, they will agree. Once people become more dependent on government, it will be easier for them to pass more ridiculous, tyrannical legislation, and/or do things that would otherwise never be accepted. People don't speak up or fight back when they are dependent. And they also tend to become lazy and accepting of poor conditions.
I also think they are using controlled opposition on the right to get "us" or right wing people to amplify the situation at the border. They will do this for a while, and then when it's been thoroughly established, Biden will acknowledge it himself, and the media will write pieces about it. The left is ignoring it right now, but this is when they will join in as well. Then they will use this "crisis at the border" as a means for passing amnesty, granting citizenship to illegals, etc.
They can then use this as leverage by saying they need to "do something about the border crisis". And the fake republicans in congress will pretend as if they are receiving massive pressure to agree and go along with proposed democrat policy. They can threaten any real republicans with bad press and pressure from the public as well, since they've got everyone focused on this issue. The right also won't be able to back down, because they've already wholeheartedly thrown themselves in the "there's a crisis at the border" narrative.
This will further depress wages and make people even more financially dependent on the government. And these people will by and large vote for the policies that make them more dependent on the government. So they will simultaneously decrease the financial and voting power of their opposition, while also destroying social cohesion, and therefore means to organize against them. As well as having to pay less for labor. There's basically no downside to it for them.
Correcto... But I don't see this as just a USA issue.
I view this economic crash as part of the great reset and underlying foundation of the NWO.
If you're willing to view economics as a zero-sum game - that is, one person doing well necessarily means everybody else is doing worse - than a recession can be a powerful means to concentrate what is left in the economy in the hands of those favoured few that were bailed out by the government.
You can't have communism in a happy or successful nation. Either of those two things destroys communism entirely.
Orchestrated Depression
I wouldn't be surprised at this point if the housing bubble and it's bursting was intentional.
Covid was deliberate economic sabotage, no other way to view it now.
100% intentional. I work I'm the real estate field and the people they were giving mortgages to right before the burst were crazy. Like legit someone making 36k a year and giving them a mortgage for 2k a month. Basically unpayable.
And when you asked the banks "are you serious here," they were like "oh well prices will keep going up so they can just keep refinancing their house every year to stay. It doesn't matter." But really it was the feds backing every mortgage to expand home "ownership". At the end of the day they just preyed upon people that never should have/would be able to own a home by gaming the numbers because they could never lose.
The housing bubble and "Too big to fail" was an orchestrated transfer of wealth. All of it cognizant, intentional .So was COVID, most of us seem aware.
That's true, though deploying troops can only last for so long if we keep on borrowing in order to do so. Our economy is becoming increasingly dependent on the military both as a stable source of jobs for the average citizen and as a stable source of revenue via military contractors. I don't expect real estate market values to fall as long as Chinese nationals continue purchasing properties as a means of getting their money out of China.
That might not just be the rich in the US purchasing those properties. A lot of those "site unseen" purchases might very well be from international sources, particularly China.
It's been a big problem in Vancouver for a long time and in the past 5 years or so has started to be a problem in the Seattle/Redmond/Bellevue area. To the point that high-end real estate firms have started advertising in Mandarin and have agents fluent in it.
I’ve had foreign owned companies calling asking to buy my property all the sudden.
I sold a "starter home" property in a HCOL area a few years back. The buyer didn't put 20% down: it was more like 4%.
A little "trick" agents play that (at least partially) explains why houses go above asking: normally you can't roll closing costs into the mortgage, but you can bump up the purchase price and roll a "buyer's credit" that happens to be equal to the closing costs into the purchase agreement. As long as you're not going so crazy the appraiser can't even put their thin veneer of objectivity over the deal, everyone's happy. The buyer pays off the closing costs with their mortgage, the seller gets paid, and the agents get a little bump in sale price they get to use when doing comps.
Sometimes it takes less effort to sell the $500k home.
Redfin at one point tried the "salaried agent, fixed price to sell your house" model but I think they had some trouble finding agents. Turns out the sort of person attracted to sales also wants the big payday when they close. Now they do 1% commission instead of 3%, and I assume they give their agents a base salary to make up for the difference.
As a person in real estate, I will say that real estate attracts a lot of shady individuals that would rather game the system than actually do their jobs.
I took the first course towards getting an RE license before I bought my first house just so I'd have some understanding of the process. Lot of not very well-educated people trying to make some cash that didn't seem to have any interest in real estate beyond that. This was before the 2008 Bubble burst, so I assume most of them washed out after that.
They're still there. Real estate, especially agents and managers attract people that literally don't want to work or are trying to game the system.
The hyperinflation of real estate is literally decades of pushing "everyone must own a home" mentality. That's what led to the massive increase of real estate prices.
Before mortgages for everyone you needed to put 25% down on a house for any bank to even consider you. This meant prices mostly remained fixed or accounted for inflation. Then when they decides everyone should get a mortgage and the government backed it the banks stopped caring. It didn't matter if you had no down payment or could pay the mortgage because to the bank either the Gov would bail them out or the homeowner would refinance every year because prices kept going up and eventually the bank would make their money back and a profit.
tbh, this is one way you would get to "I own nothing, and I'm happy" - destroy the value of the dollar so that anybody who works for a living (instead of investing) has their purchasing power removed, while offering them government services so that they're utterly dependent upon government for everything.
To achieve equity everyone needs to be equally poor (excepting the elite, of course). The quickest way to do that is inflate away all middle class wealth.
Hedge funds and the investment banks own this country. (Which is hilarious when the MSM talking heads shit talk Russia, saying that it’s run by oligarchs.)
They figured out back in the 90s after the Soviet Union collapsed that they can make a tremendous amount of money for themselves by sending jobs, technology and wealth to China. It doesn’t matter a damn to them that it makes the U.S. poorer overall or that it’s unsustainable. They will become rich and that’s all that matters to them.
They also own the Democratic Party (at least all the leadership, which is the neoliberal wing of the party). So the Dems do whatever fiscal/monetary/trade policy that the bankers want. As OP alludes to, the bankers obviously think that they won’t be losers in this cash printing bonanza.
Who, or what, is Satoshi Nakamoto?
When you find the answer you'll find true despair.
The bitcoin guy?
It's not a person, it's an organization.
Okay, now prove it.
Who owns the wallet?
Who owns the majority of BTC?
Which enterprises are attempting to take control of the crypto market through international legislation and ID trade requirements?
Don't believe me if you don't want to, but don't say you weren't warned.
Crypto is being pushed to replace national currency in the west. When your nation willingly gives up their authority over coin, what does that mean for your national sovereignty?
At this point I think they'll start pushing it hard in normie news before Christmas this year. "We must adapt to the ever changing market. As a result of Covid we have the unprecedented chance to revamp our national economic system."
Biden's handlers already hinted at this.
Who indeed.
If you were right, a take over of the Bitcoin wouldn't have been necessary in 2016-7. Those of us around (and before) watched as globalists invaded the space using Blockstream to re-engineer the development staff (and therefore its modus operandi into the future), their only real avenue of compromising Bitcoin in a way that allowed some actual control. There's no point to all that if they were already pulling the strings from the start and somehow laying in wait as you suggest.
The problem is that their re-engineering didn't work as they expected. Bitcoin + Lightning is technologically a giant hunk of shit that benefits almost entirely from first mover positioning and history of unparalleled asset appreciation that's left speculators rightly moon-eyed. But it's outmoded in a technological sense and won't last as asset kingpin forever. Which is to say that the current significance of Bitcoin has a setting horizon that keeps it relevant only in the short-term. (I'm talking the next 10 years, maybe.)
I mean, sure, the US can issue its own crypto as a "national currency," but they're going to be able to stop people from using and trading in other crypto about as well as they've stopped piracy. Especially with the current DeFi revolution and the massive movement towards information security and veiled privacy for individuals going on. Good luck!
I agree... the idea that he is anonymous and the government hasn't found him to prosecute the shit out of him for w/e reason is insane.
Bitcoin is CIA.
Nothing to do with the CIA.
It's a conglomerate effort by international banking consortiums in an effort to eventually replace national fiat with international fiat.
We are watching the death knell of nations and people are happily playing along because memecoin number goes up.
I just buy physical assets these days
I don't have a lot of knowledge regarding crypto so I can't argue with what you said. I was under the impression that crypto would be good for the masses since the bankers can't control it.
Tell me how exactly bankers don't control a speculative fiat currency when they control virtually all of the exchanges?
I don't know...I think I need to read more about cryptocurrency from people that don't praise it like it like they are praising Jesus.
Bankers not having control over something? Please...
To that end, gold spends big, silver spends small, and in the absence of either, lead spends all.
Specie will only work until people are absolutely desperate.
They can't afford what they are doing so they are using inflation to syphon off as much money as they can before they introduce a Digital Currency.
They know exactly what they are doing.
How do I know? Because when the British Labour Party's secret conversations get leaked, they sound like us and start quoting Mises. They know it's bullshit. The Left's leadership are probably as based as you... which says just how fucking terribly stupid the Left's useful idiots are.
That's the key part I see highly unlikely to happen. Speaking just for myself if my earnings increases were to match inflation, I'd say go for it. Because I have owned property that I can also just collect more on then, yet won't cost me much more (excl. taxes and such).
What I see it more of though, is intentionally destroying the economy in the name of power. It's not even money at that point. How many oligarchs really care about money itself? It's not numbers anymore, it's the fact that they control everything and can have anything they want wanton disregard for how they get it. As they bleed the economy dry, they will drag the middle class in particular way down. Now you've got a huge group of dependent people that will do whatever you say because they have to for survival. The only other way would be to rise up and overthrow the oligarchs. History has shown that will happen, but it's a very slow process.
The point is to secure public support so that they minimize the backlash when they eliminate the filibuster, expand the SCOTUS, and create 2-4 secure Democrat Senate seats through statehood. By the time the monetary crisis really sets in, they're gambling that they will have permanently secured power. It's a sacrifice they're willing to make.
I think it will end poorly for them.
They think they will be dead by the time their plans backfire... And sadly they are probably right...
Is there any way to stop them from expending the SCOTUS?
A lot depends on Manchin. If the current media blitz pressures him to cave, the sky is the limit for Dems.
The primary entity that benefits from inflation is the US Federal Gummint.
I should clarify that initially I thought this was a thread just about the USA. I see in the comments other people are talking about other nations, the global economy, etc.
So in that case I will restate my original statement a different way.
"The primary entity that benefits from inflation is any Welfare State, chief amongst them the US Federal Gummint."