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Potential Dockworker Strike Could Unleash “Super Meltdown” At German Port Of Hamburg
Potential Dockworker Strike Could Unleash “Super Meltdown” At German Port Of Hamburg Dozens of container ships are piling up outside Germany’s largest seaport by volume, known as the Port of Hamburg. It’s the third busiest port in Europe and the 15th largest globally and could be plunged into chaos next week as dockworkers may strike. […]
US Consumer Prices Soar At Fastest In 39 Years, Real Wages Tumble For 9th Straight Month
US Consumer Prices Soar At Fastest In 39 Years, Real Wages Tumble For 9th Straight Month Consensus was convinced – with barely any outliers – that this morning’s consumer price index would print with an astonishing 7.0% YoY (and notably 7 of the last 9 releases have come in above consensus) and they nailed it […]
Dollar Purchasing Power Plunges. Inflation +6.2%. For Urban Wage Earners +6.9%, Highest in 40 years, Most Monstrously Overstimulated Economy Ever.
Dollar Purchasing Power Plunges. Inflation +6.2%. For Urban Wage Earners +6.9%, Highest in 40 years, Most Monstrously Overstimulated Economy Ever. Fed still printing money and repressing “real” interest rates to negative 6%, new vehicle prices spike by most since 1975, housing CPI jumps, food & energy soar. The broadest Consumer Price Index (CPI-U) spiked 0.9% in October […]
This is not 1997
This is not 1997 Not that minimum wages are anything new. The USA introduced its Federal Minimum Wage as far back as 1938; although today each state sets its own rate. And the general consensus is that minimum wages help raise wages in general with little or no impact on employment as a whole. The broad […]
Who determines prices?
Who determines prices? One of the consequences of the response to the pandemic and the disruption from Brexit is that labour shortages are appearing across the low-paid sectors of the economy. So much so that even the metropolitan liberal Guardian has begun to wonder whether the benefits of higher wages for the low-paid might outweigh the cost […]
Want To See What Stagflation Looks Like?
Want To See What Stagflation Looks Like? Another undoubtedly firm inflation report as the tariff effect works its way through the pipeline. This means one thing; the stagflation narrative only strengthened today as the US economy slows in the face of supply side inflation. Want to see what stagflation looks like? 6m Avg. NFP = […]
A Workers’ Struggle in India to ‘Make the Land Proud’ as Global Unrest Spreads
Struggles That Make the Land Proud: The Second Newsletter (2019) Over two days—Jan. 8 and 9—more than 160 million workers went on strike in India. This has been one of the largest general strikes in the world. The workers, exhausted by almost three decades of neoliberal policies and by the attack on their rights, came […]
The Politics of Debt-Serfs and Tax Donkeys: Our Only Choice Is the Least Bad Option
The Politics of Debt-Serfs and Tax Donkeys: Our Only Choice Is the Least Bad Option The reality is there is no avenue left for advocacy, grievances or redress in a system dominated by global corporations and self-serving political insiders. What’s striking about the protests in Paris against higher fuel taxes is the universality of the […]
Here’s Why the Market Must Continue to Rip Higher — Everything Depends On It
Here’s Why the Market Must Continue to Rip Higher — Everything Depends On It Rarely discussed, corporate and government pensions, are barreling towards disaster. For some reason, there is an assumption that what ails the government, with their $20 trillion in debt, isn’t something that ordinary folk need to worry about. After all, times are good […]
If the Economy is So Good, Why are Wages Flat?
If the Economy is So Good, Why are Wages Flat? Photo by Nathaniel St. Clair We are supposedly seven years into a “recovery” from the global economic collapse that commenced in 2008. The latest evidence offered to promote this oft-peddled mantra is that U.S. gross domestic product showed a strong uptick for the second quarter […]
Housing Bubble and Everything Bubble in One Simple Picture
Housing Bubble and Everything Bubble in One Simple Picture To understand the magnitude of the housing bubbles simply compare the index of wages to the index of prices. How Did We Get Here? That’s easy. Average Wages vs CPI Note the correct CPU comparison for this chart is CPI-W not CPI-U, not that […]
The Problem with a State-Cartel Economy: Prices Rise, Wages Don’t
The Problem with a State-Cartel Economy: Prices Rise, Wages Don’t The vise will tighten until something breaks. It could be the currency, it could be the political status quo, it could be the credit/debt system–or all three. The problem with an economy dominated by state-enforced cartels and quasi-monopolies is that prices rise (since cartels can […]
What is Wrong With the Popular Definition of Inflation?
WHAT IS WRONG WITH THE POPULAR DEFINITION OF INFLATION? According to Mises, Inflation, as this term was always used everywhere and especially in this country, means increasing the quantity of money and bank notes in circulation and the quantity of bank deposits subject to check. But people today use the term `inflation’ to refer to […]
