Your so right about this all. Inflation is and will always be the printing of too much new money IE allowing the money supply to grow faster than population and productivity growth can absorb. So it's 100% caused by the Federal Reserve since it can make money with the push of a button on a keyboard. Back in the 1970's they blamed the oil embargo's after Covid it was the supply disruption those are just the shinny objects the Fed points too so you do not understand that it was their policies that caused inflation. In 2020 money supply grew over 19% and in 2021 it grew over 16% go back to the 1970's and they had allowed the money supply to grow over 12% four different years during that decade. So we have no idea of what the 41% growth in money supply is going to do. I do know that they do not have interest rates high enough to kill it. But they are afraid to raise rates more because they are afraid of what its going to do to the banking sector which is holding trillions of bonds that will lose even more value if rates go higher. The elites will never do anything to correct course they will continue to borrow and spend until it can not be done anymore. They lose all power if they can not keep spending like a drunk sailor on shore leave. I am only hoping that the game continues to after I have pass.
Ironically, our only hope lies in our collapse.... Because no, they won't correct course without a collision. And I fear that collision is imminent.....
Okay John, on a similar vein, would you be able to address the financial tiger trap on a related topic? My hubbie and I recently received our 2024 property tax reappraisal for a small town in Vt. The reappraisal increased the "value" by 65% in the previous value established 7 years ago. The proposed 2024 school budget was an increase of 17% over last year's and has been rejected two times so far.
Now, we are retired and on a fixed income. SSA increases and our other assets that we budget for the long haul are far outpaced by these ridiculous spending sprees! I continue to levee the litmus test on the condition of roads; if the potholes and degrading infrastructure deepen and widen, where the he!! are our stiff tax dollars being spent? Answer? There is no accountability from our government to the citizens regarding legislation, regulation, budgeting or spending. They seem to have their own agendas and priorities. Who is promoting and funding this and what can be done short of leaving my ancestral state and starting over elsewhere? Thanks John
AS we see, the problem is national -- though Vermont is indeed off the cliff with unaccountable spending/ Much of the money goes to the bureaucrats themselves: every new program to redistribute our tax dollars "equitably" costs money and staff to oversee. Vermont's spending is unsustainable -- at 15%/year, our property taxes will double about every 5-6 years. Our "progressive" legislators can't even fathom CUTTING taxes and spending, so it won't happen until it collapses under the strain. Fortunately, they haven't funded state pensions and I think the taxpayer revolt will coincide with their insolvency. That is some consolation.... Store food and get frugal -- the old Vermonters know what hardship is; the younguns will soon learn the lesson.
Happening elsewhere as well.. ID prop tax increase was 100% last yr... areas in UT almost the same. In CA the prop tax isn't the cheapest in the nation but it has a cap... which they are trying to do away with this election cycle. They are stupid as more levies and more rules mean more money will be leaving the state as people flee.
Property tax should be abolished as we are only lease holders under that rule. Which was the first state to enforce prop taxes? A lone state rep of ut tried to get theirs nixed.. of course he had no hope but it's a start.
What we need is a viable option to show them how to fund their projects without attaching a lein on us.
Yes, we have become serfs. The property taxes exceed the productive use of most land, which makes land a liability rather than an asset. I am behind on taxes for our land, originally purchased by my great-great-great-great-grandfather circa 1815. Our taxes are like a mortgage that never gets paid off..... and keeps increasing in principal.
Reminds me of the drive to implement unrealized capital gains taxes on assets; they just can't wait to get their grimy mitts on more and more of other people's money. Yet there is no refund if the market loses!! Property taxes are the same; they appraise your property based on the previous 3 years' real estate market (using the word "equitable" numerous times), on the premise that it could make x amount if sold, but do they give out refunds if the market drops and your property does not garner that price? And what, pray tell, do these high taxes do to the market? What party can afford the taxes, utilities, mortgage, and still pay the household bills? Equity indeed...
I heard yesterday that Biden is once again depleting our petroleum reserves by selling 1,000,000 barrels of the NE reserve. Clearly a political move that further places politics over national security.
Biden also went to NH, which is now in play, and announced government goodies for towns in NH. Isn't that the same as buying votes, a la student loan forgiveness?
Tbh the greatest fascists/socialists/marxists will be found at your local building department, health department and county offices. I live in Northern Nevada, we have no income tax and a long history of giving the finger to any and all governments, and the amount of restaurants and small businesses that get shut down because of absurd technicalities is absolutely demonic. I think we should stop paying attention to laws and regulations because they have no ability to enforce absurd statues. Don’t ask don’t tell. Assume the government wants your business dead.
Thanks for this post. I don’t hear much about this important topic.
Your so right about this all. Inflation is and will always be the printing of too much new money IE allowing the money supply to grow faster than population and productivity growth can absorb. So it's 100% caused by the Federal Reserve since it can make money with the push of a button on a keyboard. Back in the 1970's they blamed the oil embargo's after Covid it was the supply disruption those are just the shinny objects the Fed points too so you do not understand that it was their policies that caused inflation. In 2020 money supply grew over 19% and in 2021 it grew over 16% go back to the 1970's and they had allowed the money supply to grow over 12% four different years during that decade. So we have no idea of what the 41% growth in money supply is going to do. I do know that they do not have interest rates high enough to kill it. But they are afraid to raise rates more because they are afraid of what its going to do to the banking sector which is holding trillions of bonds that will lose even more value if rates go higher. The elites will never do anything to correct course they will continue to borrow and spend until it can not be done anymore. They lose all power if they can not keep spending like a drunk sailor on shore leave. I am only hoping that the game continues to after I have pass.
Ironically, our only hope lies in our collapse.... Because no, they won't correct course without a collision. And I fear that collision is imminent.....
do not underestimate the time that they can drag this thing out.
Okay John, on a similar vein, would you be able to address the financial tiger trap on a related topic? My hubbie and I recently received our 2024 property tax reappraisal for a small town in Vt. The reappraisal increased the "value" by 65% in the previous value established 7 years ago. The proposed 2024 school budget was an increase of 17% over last year's and has been rejected two times so far.
Now, we are retired and on a fixed income. SSA increases and our other assets that we budget for the long haul are far outpaced by these ridiculous spending sprees! I continue to levee the litmus test on the condition of roads; if the potholes and degrading infrastructure deepen and widen, where the he!! are our stiff tax dollars being spent? Answer? There is no accountability from our government to the citizens regarding legislation, regulation, budgeting or spending. They seem to have their own agendas and priorities. Who is promoting and funding this and what can be done short of leaving my ancestral state and starting over elsewhere? Thanks John
AS we see, the problem is national -- though Vermont is indeed off the cliff with unaccountable spending/ Much of the money goes to the bureaucrats themselves: every new program to redistribute our tax dollars "equitably" costs money and staff to oversee. Vermont's spending is unsustainable -- at 15%/year, our property taxes will double about every 5-6 years. Our "progressive" legislators can't even fathom CUTTING taxes and spending, so it won't happen until it collapses under the strain. Fortunately, they haven't funded state pensions and I think the taxpayer revolt will coincide with their insolvency. That is some consolation.... Store food and get frugal -- the old Vermonters know what hardship is; the younguns will soon learn the lesson.
Happening elsewhere as well.. ID prop tax increase was 100% last yr... areas in UT almost the same. In CA the prop tax isn't the cheapest in the nation but it has a cap... which they are trying to do away with this election cycle. They are stupid as more levies and more rules mean more money will be leaving the state as people flee.
Property tax should be abolished as we are only lease holders under that rule. Which was the first state to enforce prop taxes? A lone state rep of ut tried to get theirs nixed.. of course he had no hope but it's a start.
What we need is a viable option to show them how to fund their projects without attaching a lein on us.
Yes, we have become serfs. The property taxes exceed the productive use of most land, which makes land a liability rather than an asset. I am behind on taxes for our land, originally purchased by my great-great-great-great-grandfather circa 1815. Our taxes are like a mortgage that never gets paid off..... and keeps increasing in principal.
Reminds me of the drive to implement unrealized capital gains taxes on assets; they just can't wait to get their grimy mitts on more and more of other people's money. Yet there is no refund if the market loses!! Property taxes are the same; they appraise your property based on the previous 3 years' real estate market (using the word "equitable" numerous times), on the premise that it could make x amount if sold, but do they give out refunds if the market drops and your property does not garner that price? And what, pray tell, do these high taxes do to the market? What party can afford the taxes, utilities, mortgage, and still pay the household bills? Equity indeed...
Critical thinking across so many domains
Reminds me of the days car dealerships advertised "BAD CREDIT, NO CREDIT, NO WORRIES, WE WILL GET YOU IN A CAR TODAY"!
Sounds like the Government playbook today!
I heard yesterday that Biden is once again depleting our petroleum reserves by selling 1,000,000 barrels of the NE reserve. Clearly a political move that further places politics over national security.
Biden also went to NH, which is now in play, and announced government goodies for towns in NH. Isn't that the same as buying votes, a la student loan forgiveness?
Tbh the greatest fascists/socialists/marxists will be found at your local building department, health department and county offices. I live in Northern Nevada, we have no income tax and a long history of giving the finger to any and all governments, and the amount of restaurants and small businesses that get shut down because of absurd technicalities is absolutely demonic. I think we should stop paying attention to laws and regulations because they have no ability to enforce absurd statues. Don’t ask don’t tell. Assume the government wants your business dead.