Quote:
Real after-tax income is down this year alone by 8.3 percent annualized. Month by month since April 2021, we’ve been in the longest period of decline in real disposable income since World War II. The value of the dollar is down 14 percent from 18 months ago but in some areas, the pain is much more intense. Energy prices are up 41 percent and groceries 12.2 percent.
Markets work beautifully when the money is sound, the supply chains are reliable, and cost accounting gives a picture of economic realities that are stable and predictable. But inflation changes everything and affects everyone. It begins to feel like [bare] survival because one never knows where the latest shock will hit. Every price increase affects every other sector.
The breakages in basic market functioning have put everything we love at grave risk. It has coarsened the world, disrupted the process of building wealth, and caused mass disorientation and confusion. The casualty is prosperity. The problem is pervasive today, and you see it across the board in everything and everywhere. Whether it’s the price of gas, the absence of skilled labor, the flight delays, the wait times in tech support, the long delays in getting repair parts for anything, or the mysterious disappearance of millions of workers, all point to a profound danger that the division of labor that was hundreds of years in formation now faces an existential threat.
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I think we’re heading into another Depression.
And that’s the whole goal of the leftist plan.
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