He was a dumb kid whose mom was still able to claim him as a dependent, yet out here giving an ignorant projection as fact including advice on how to manage your portfolio. And he works in the financial sector and was using that to sell himself as credible. That level of hubris and ignorance in the financial sector dangerous. People can tap dance all they want because what he was doing was incredibly irresponsible

I'm not upset with the OP, but I am very upset with our nations leadership, who has done nothing but lie and manipulate since this all kicked off. OP came here regurgitating a line promoted by the politicians, which was quickly proven untrue. But now instead of admitting they lied, they've doubled down, changed the way they calculate inflation to make themselves look better, continued to make inflation worse by their decisions (like refusing to allow drilling or pipelines whenever possible as an example) not to mention continuing to print and spend money like it's going out of style, and are now saying "nobody could have seen this coming!" as if we are all so stupid we can't remember a year ago, and that will make it all better.

So I'm not posting here once a month to spike the football, I'm posting here to try and wake up at least one person to what's ahead of us. Your leaders are still lying to you, wake up and think for yourself.

We told him he was dying, showed him the grave, told him how to stop digging it, and he went ahead and buried himself anyway.

The least one can do is dance on it

Just got off a conference call with Goldman Sachs giving clients their periodic economic and Ukraine update.

Their take on inflation is that it will moderate by year end back down to 4.3% due to normalization of supply chain constrained goods. Never mind that right before their economic update that two geopolitical experts said that the food shortage is going to get worse before it gets better and NATO may have to get involved to get food moving again in the rest of the world.

GS seems like a clown world outfit with their inflation takes. Repeatedly wrong for last 2 years. I've been pretty embarrassed for them. I hope to eat crow on this but I don't think I will.

Anyone else notice that literally everything is more expensive?
It's not just TX gasoline approaching $4.50.
It's not just my #20 Whataburger breakfast increasing 25%+ in less than 2 years.
It's not just my wife angry at the cost of a gallon of milk.
LITERALLY EVERYTHING.

How could some deny the extremely obvious trends these past few years?

Quote:

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One of the biggest surprises in 2021 was the surge in inflation with the headline CPI index rising 4.7%, the highest level since 1990 - Goldman Sachs

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All that money printing and they were surprised.

Clowns.

YouBet said:

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Quote:

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One of the biggest surprises in 2021 was the surge in inflation with the headline CPI index rising 4.7%, the highest level since 1990 - Goldman Sachs

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All that money printing and they were surprised.

Clowns.

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And those CPI numbers don't come close to reflecting reality. The new CPI calculations put in place under Obama look at categories instead of the cost of individual items.

In the food category if you switch from beef to pork due to the cost of beef, then from pork to yardbird to canned Spam to dog food, but spend the same amount each month, there is no inflation.

lb3 said:

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YouBet said:

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Quote:

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One of the biggest surprises in 2021 was the surge in inflation with the headline CPI index rising 4.7%, the highest level since 1990 - Goldman Sachs

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All that money printing and they were surprised.

Clowns.

---

And those CPI numbers don't come close to reflecting reality. The new CPI calculations put in place under Obama look at categories instead of the cost of individual items.

In the food category if you switch from beef to pork due to the cost of beef, then from pork to yardbird to canned Spam to dog food, but spend the same amount each month, there is no inflation.

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Of further note on this:

Food represents 25% of inflation baskets for emerging market countries vs. 17% in developed markets. In the USA, it represents 13% of CPI.

The UN World Food Price Index is at its highest number in recorded history at roughly 14% over the previous high.

Oldag2020 said:

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$30,000 Millionaire said:

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OP did you graduate in 2020?

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Finance class of 2020. I did not learn Keynesian style only at TAMU. I learned both views. There was a very balanced view by a majority of my professors.

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Wait...I just saw this after laughing at page 1.

This is even more hilarious. SMH.

It's calculated in a much more insidious way than that. Here's the explanation directly from WhiteHouse.gov:

https://www.whitehouse.gov/cea/written-materials/2021/09/09/housing-prices-and-inflation/

Quote:

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It is calculated using a subset of the same rental data as the CPI: Rent index, weighted by the price that homeowners think their home (unfurnished and without utilities) can be rented for monthly.

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The federal government changed to this calculation (I believe in the 90s under Clinton) to hide the true rate of housing inflation. Think about it. CoreLogic has all the data to tell us EXACTLY how much housing inflation really is. But they use the methodology they do to hide the real numbers. Median home pricing is up 16.6% in Houston year over year as an example. So if they say CPI is 8.3%, they are lying to you.

https://www.har.com/content/newsroom

https://instagr.am/p/CeWFn6fDTem

This thread is as temporary as our inflation

The consumer price index increased 8.6% annually, up from 8.3% the prior month and the largest rise since December 1981, the Labor Department said Friday.


Hilarious everyone except the Fed and White House could see all of the fallout last year and the pain increasing, but a slow taper of $90b a month was still the plan along with a slow 0.25% start to the fund rate.

I wonder if OP is still carrying Biden's piss water.

Many hedge funds sell gold and silver contracts to cover margin calls. They flood the market with paper gold and silver driving the price down. It happens all the time with big banks and hedge funds.

Let me ask once again:
who could ever seen that massive printing sprees, including 40 billion plus to far and away the most corrupt nation in Europe, would not pressure literally every price upward, continuously? That destroying utterly many hundreds of thousands of small businesses through cruel lockdowns and mass riots would not exert ridiculous additional pressure.

Anyone with a functional brain could have foreseen this - yet sadly, so many did not so foresee.

There is way more paper gold and silver than actual metal. Should be illegal like other ponzi schemes.

oklaunion said:

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There is way more paper gold and silver than actual metal. Should be illegal like other ponzi schemes.

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So, it's kind of like our current fiat money system. You can inflate it to nothingness if you want to.

Redstone said:

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Let me ask once again:
who could ever seen that massive printing sprees, including 40 billion plus to far and away the most corrupt nation in Europe, would not pressure literally every price upward, continuously? That destroying utterly many hundreds of thousands of small businesses through cruel lockdowns and mass riots would not exert ridiculous additional pressure.

Anyone with a functional brain could have foreseen this - yet sadly, so many did not so foresee.

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Goldman Sachs and Janet Yellen did not see it coming.

Most of us are smarter than those entities which is scary.

At the end of the day, they have to have the ability to pay out in gold and silver. Every contract on the COMEX has the ability to be paid out in gold and silver. But they advise against that and actually give cash bonuses to settle your contract in cash instead of the actual gold. They also give crazy long lead times to actually receive your metal (more than likely it is because they don't actually have it).