THE RETURN OF THE BANKER AND INFLATION!

These days, two ghosts of the past are returning across Europe, Mario Draghi and Enrico Letta.

But first let’s deal with serious things, with the psychopaths who every day try to raise the level of inflation, while it falls, they try to raise the level of chaos and fear.

Yesterday the Fed’s Beige Book was released, this little open book on the American economy is truly a surprise. The Beige Book reveals that the economy is in much worse shape than the White House, the Biden Light Institute claims

There are many surprises in this booklet, but obviously single thought has no interest in making them known to the general public.

The main purpose is to terrorize, create chaos, perpetrate the “shock economy” even better if through conflicts, they hope nuclear.

And yes, because the Israelis, after razing Gaza to the ground, provoking Iran by bombing the Iranian consulate, are now trying to attack the nuclear sites.

With the blessing of Europe and America, more atomic bombs, more war, more economy.

But imagine, while Powell goes around telling inflation jokes and trying to scare markets, most of the companies surveyed in the Beige Book indicated that pressures to raise wages continue to Allentarsi and that wage growth is declining.

Not only that, when it comes to prices, increases in non-labor-related costs have stabilized for most items.

The loans at Banks have remained relatively stable amid continued contraction in most consumer lending segments.

A frequent comment was that companies’ ability to pass on cost increases to consumers has weakened.

But think about it, who will tell the truth, Pinocchio Powell or the real economy?

But as there is hyperinflation and companies are unable to pass on the higher costs to consumers, why do consumers no longer consume as much as before?

And yes, what we’ve been telling you for a long time, but it’s cooler to follow the flock and the sheep.

Industrial production collapses, real consumption collapses, employment is all a fake supported by illegal immigration, the real estate market collapses, but the Roaring Twenties continue.

How cool guys, living in a world of fools.

This is nothing new for the readers of icebergfinanza, but if we remove the OER rents from the inflation data provided by the serial cheater named BLS, the rebound in inflation that the ignorant and idiots see disappears like fog in the sun.

It is true that the “last mile” towards reducing CPI inflation may take time. But that’s because it’s driven by OER, a number that reflects outdated pricing. And that’s a stupid thing to base policy on. If you don’t use OER (the European HICP doesn’t) this is what it looks like.

I’m not surprised that Powell and the central bankers ignore the OER factor which is worth over 36% of inflation, it would be enough to remove it from the basket, but they probably prefer to make people believe that inflation is resilient, to screw the middle class and continue to feed the banks, their shareholders.

Speaking of bankers, interesting days await us, while a population of idiots will go to vote for more Europe, in less than two months.

One failure after another in Enrico Letta’s career, but he knows how to recycle himself very well, like all men in the service of the European plutocracy.

But let’s look at the words of another ghost, even more sinister, that of the banker Mario Draghi, one who contributed to destroying a good part of the Italian social and entrepreneurial system, with the little letter that started the descent of the barbarians into 2011, led by Mario Monti…

The good Aristotle said that apathy and tolerance are the last virtues of a dying society.

We have been apathetic for some time now, the pandemic has shown it, even too tolerant of this system, which buys everything, men and souls.

Today, the banker, Mario Draghi, after his reflections and research, says that the “competitiveness strategy” (austerity and downward wage pressure) was negative as it reduced internal demand, aggravated the crisis and weakened the model social.

Since someone enjoys questioning what I write, I leave you the official source or the beginning of the banker’s recent speech… Good morning to everybody …

Good morning to everybody,
This, in essence, is the first time that I have the opportunity to start sharing with you the overall, not philosophy, we are not there yet, but how the overall design and philosophy of
the report is shaping out. For a long time, competitiveness has been a contentious issue for Europe. In 1994, the Nobel-prize winning economist Paul Krugman called focusing on competitiveness a “dangerous obsession”. His argument was that long-term growth comes from raising productivity, which benefits everyone, rather than through trying to improve your relative
position against others and capture their share of growth.
The approach we took to competitiveness in Europe after the sovereign debt crisis seemed to prove his point. We pursued a deliberate strategy of trying to lower wage costs relative to each other – and combined this together with a procyclical fiscal policy – ​​the net effect was only to weaken our own domestic demand and undermine our social model.

Of course, years pass and one becomes wise, one can always change one’s mind, but the beauty is that the European plutocracy uses those who have failed, who have imposed tears and blood on the Italian people.

Is the person speaking today the same Mario Draghi who, when he was a banker, loved being a politician?

MILAN – A very clear, final letter, practically a diktat. It is the letter that the ECB, with the double signature of Jean-Claude Trichet and Mario Draghi, sent to the Italian Government last August 5th indicating the things to be done “with legislative decree and parliamentary ratification by the end of September 2011″ . A series of measures that in some ways recall those that the international authorities have imposed on Greece: from the reduction of wages to the reform of the pension system, up to massive privatizations. “We trust that the Government will take appropriate action. With the best consideration” conclude Trichet and Draghi. He gives an account of the content the Corriere della Sera.

The banker had already asked the Italians, are you ready to sacrifice your salaries to save the euro?

The response of the Italian people, who are fundamentally stupid as Prezzolini recalled over 100 years ago, was enthusiastic, the banker was put on a pedestal and praised.

You pass through wages, the euro itself is synonymous with wage deflation, it cannot stand if you do not destroy the purchasing power of the middle class, or devalue the currency or devalue salaries.

ROME – Mario Draghi’s interview with the Wall Street Journal sounds like a funeral oration. The funeral is that of the European social model, which the governor of the ECB defines as “now dead”. And so the only way out of the crisis for countries with budgets in the red has no other way than to consolidate their public finances by trying to cushion the recessionary impact. To do this, the priority is liberalization and labor market reform.

And yes, liberalization, cutting salaries, dead social model, destroyed internal demand, at least he admitted it, he was honest.

And so, why are these gentlemen still around today, after their failure, they climb into the classroom to teach, another failure?

Taleb would say…

Those who drove a school bus blindfolded (and wrecked it) should never be allowed to drive another school bus again. The economic establishment (universities, regulators, central bank officials, government officials, economists serving various organizations) has lost its legitimacy as a result of the system’s failure.
It would be imprudent and senseless on our part if we relied on the skills of these experts to get us out of this mess. On the contrary, we need to identify intelligent people with clean hands. (Nassim Nicholas Taleb)

Taleb is wrong, chaos is needed, the more chaos the more they dominate everywhere.

Clive R. Boddy, of the Nottingham Business School at Nottingham Trent University tells us that psychopaths exploit the relatively chaotic nature of modern society. Such circumstances allow them to ascend through a combination of charm and charisma, which renders their behavior invisible and makes them appear normal to the point of ideal leaders.

They casually show up in the chaos happening around them, without concern for those who have lost their jobs, savings and investments, without any regret for what they have done.

They happily lie about their involvement in events, are very convincing in blaming others for what happened, and have no doubts about their own worth.

But obviously, it saved the euro or maybe who knows.

But let’s change the subject, because it’s not easy to stay calm.

The world of inflation is also full of psychopaths, many are marching on inflation with indiscriminate increases in this country, while the government stands by and watches.

The ECB itself doesn’t cut rates, because it has to help the banks, the Germans and Lagarde don’t care about who has to pay a mortgage.

All that remains is to wait, the truth is the product of time!

The last manuscript is out “The Golden Donkey: metamorphosis” Spring is upon us, now the fun begins.

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