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User Info Yellen Is Wrong AGAIN; entered at 2022-06-20 10:07:39
Whitehat
Posts: 9016
Registered: 2017-06-27 Operation Escape from New York
Karl wrote..
This isn't complicated. Yellen famously said that inflation was "transitory" not all that long ago -- about a year back -- when she was arguing for, and implementing, the next round of wild money-printing after Trump did it too and I remind you that she has now been proved to be completely full of crap.

Now she's doing it again and if you let her and this Administration get away with it I hope you are ok with the wild price spikes and shortages, up to and including black-outs, that these policies will lead to.

This is merely the mainstreaming of the Millennial's Modern Monetary Theory (MMT) crusade. They are a serious political block, and the political class is merely responding to their demands after a subset of it essentially created them.

One can actually understand where they got the internal justification for the free money thing. Many, most notable here being Karl, have said for decades that a price must be paid for past monetary sins. In fact my generation kind of grew up with an expectation that things would be harsh for us to clean up the past mess. Shame that it did not really happen as Karl notes the pain gets worse the longer we wait, until it cannot be put off any longer. Enter the Millennials.

The Millennials have a victim-hood mentality where they do not wish to pay and know full well that the lifestyle, opportunities and wealth of the previous major generations (note plural) were built on post war deficit spending. Even though it is completely not possible to ever recreate those situations due to the locked in destruction of past inflation, they want to be subsidized themselves in any manner which they can come up with.

They are all into free healthcare, free energy, free education, free housing, whatever. They know that their existences are not really that great but figure that they can make the most of them by getting their pick at the feed trough. We are in a position of asking the miserable to bear more misery without any likely payoff. I have spent a few decades conversing with this generation. Society has managed to create a massive, nihilistic and uninspired crowdism {SIC}.

The green thing is merely something that they figure can be blown out for them to get some subsidized existence, and they will be dead or not care by the time it collapses. Right now they all get off on how cheaply they can plug in an electric car, perhaps on someone else's meter (junior early example: remember all of the free internet tricks years ago), get subsidized this and that in terms of buying and owning the car, fuck if it is unfair to the greater society. They will turn around and have no problem mentioning the previous generations inflation subsidized housing wealth, great educations in a public system, roads never economically viable but responsible for certain communities, fed money paying for this and that to compete with them. We discuss this each and every day here.

Green is merely the newest scam. There are people right here who know that it is wrong to get their electric panels, cars, green bullshit below actual cost due to government incentives, but they do it anyway as the numbers work. Millennials see this all of their lives, but are too late in many regards to take advantage.

Someone posted a video in the bar section of a Kurdish man saying that one harvests what one plants.

We (correction) You taught them to demand these scams.

Truth hurts. Now go look in a mirror. It takes a real man father (see yesterday's article) to turn down something which benefits him or those associated with him on principle and shun those who do otherwise no matter who they might be.
2022-06-20 10:07:39