Inherent Structural Inflationary via Transfer of Wealth

  1. No Bail-Out: The Biden's administration quick two-day reversal of  the initial "no bail out" is a de facto stimulus package of more money chasing the same or lesser products. The replaced money is somewhere stimulating higher prices. Biden's March 13 early morning "safe, safe, safe" pronouncement to reassure was not reassuring as a fourth bank was reported to be going under.
  2. Fed's 2% inflation rate: It is galling to hear the Fed's chairman pridefully proclaim the Fed's goal of 2% inflation. Why not 0%? Why not 2% deflation where the dollar buys more each year with workers' savings rising in buying power?
  3. 2% for the top 2%: Economists co-enable law-makers to over-privilege a few by de-privileging the many in our zero-sum world. Each unearned privilege is inflationary, a cheapening of currency for the many. The Fed's higher interest rates are a private taxation like oil companies raising gas pump prices for record profits. Who benefits from higher interest rates? Workers or bond-holders? Which political party has voted the most for deficit spending? Which White House has the highest share of the national debt? Yes, Democrats tax and spend. But, Republicans borrow and splurge because they own the interest-bearing govenment bonds.
  4. Inflationary wealthfare for the rich, welfare for the poor: Amazingly, too many American workers vote rich and live poor. They unquestioningly buy into the real fake news from news organizations owned by and for the rich.  Uber-rich Rupert Murdoch's Fox News perpetuating the election lies is a classic example. Low information thinkers buy into and echo the latest confusing and misleading dog whistles, e.g.,woke, socialism, liberalism, etc. (When you hear a low-brainer complain about socialism, ask if they are going to burn their Social Security check.) Every welfare dollar is matched, easily, by $100 or more of inflationary unearned wealthfare dollars. But, the news media (owned by the wealthy, e.g., Fox, ABC, CBS and NBC) lambaste welfare recipients while being mum on wealthfare. Fake news comes from the liar lips who preaches the truth will set you free. Half-Truth Hannity, Igknowant Ingraham, Conman Carlson and Maligner Maria. The epitome of "vote rich, live poor" is Trump's MAGA base.
  5. Fed's Historical Cheapening of Money: Since the Fed's inception in 1913 by bankers, the buying power of the 1913 dollar has been reduced to 1.5% (2023). How did this happen?
  6. Fed's 2% goal: Any economist who accepts the Fed's target inflation rate of 2% should be barred from public policy-making, or, better as Shakespeare might say, "The first thing we do is kill all the economists," more specifically the monetarists.
  7. Forget the funny numbers on funny paper: Economists are criticized for knowing the price of everything but the value of nothing. The real value of anything is its time value on your life. Time is the thread in the fabric of life.
  8. Dollar is Dying: As a problem-solving tool, the dollar is dying. Needed is a currency that is kept constant and current in its worktime value. Timism offers the shovel-ready lifehour. (How to calculate what should be the international currency exchanged rate based on the cost of living.)
Personal note: Our bank informed us that we need to pay off the equity line or re-finance at a higher interest rate. Did the bank's cost of managing old loans go up? No. Did bank share-holders now make more money off old loans?