Most expensive Thanksgiving ever!

[Bill Bonner’s Diary]( Most Expensive Thanksgiving Ever! By Bill Bonner Thursday, November 11, 2021 Policy failures will be responsible for tens of thousands of families getting stranded at airports, paying exorbitant gas prices, and encountering grocery store shortages. Americans face the most expensive Thanksgiving on record. – The Hill [Bill Bonner] BALTIMORE, MARYLAND – The Bureau of Labor Statistics (BLS) report came out just after we filed yesterday’s Diary. The Washington Post broke the news: Prices rose 6.2 percent in October compared with a year ago, the largest annual increase in about 30 years, as rising inflation complicates the political agenda for the White House and policymakers’ road map for the economy heading into the end of the year. Overall prices rose 0.9 percent from September to October, tying June for the biggest one-month increase since the Great Recession. Only a few categories saw prices fall last month, including airfare and alcohol. But don’t worry. Federal Reserve chairman Jerome Powell, who insisted that inflation was only “[transitory]( now promises to make it go away: …we understand completely that it’s particularly people who are living paycheck to paycheck or seeing higher grocery costs, higher gasoline costs, when the winter comes, higher heating costs for their homes. We understand completely what they're going through. And we will use our tools over time to make sure that that doesn’t become a permanent feature of life. But a 6% inflation rate wreaks havoc. The current yield on the world’s most important asset – the 10-year U.S. Treasury bond – is only 1.46%. The 10-year Treasury is the backbone of pension funds, corporate savings, Social Security, insurance programs, and other institutional holdings. But at this rate, they’re losing 4.54% of their money each year. Who wants to take that deal? That’s why U.S. deficits… like those in Argentina… are now being funded almost entirely by “printing press” money. Recommended Link [Fmr. Dock Worker Turns Millionaire...Warns Americans]( [image]( This video is going viral… A former NY loading dock worker – who rose to the top of Wall Street in just 3 years – blasts Congress and reveals nasty truths about America… Now, in his latest video, he shares a fiery warning for all Americans… His videos have often been blacklisted by major networks… But this one is posted for free – on an independent website – so you can make your own decision. Do you think this message should be banned? [Watch Teeka’s Video Now.]( -- No Escape We keep busy on weekends with DIY projects. Every time we go to the lumber yard, we’re staggered by the price increases. Overall, construction materials are up 31% year on year. Gasoline is running at 62% more than a year ago. [Featured: Introducing: The 3-Stock Retirement Blueprint]( Meanwhile, wages are going up at a 5% rate. But subtract the losses from inflation, and the average working man is actually getting poorer. The Wall Street Journal reports that “real wages are down 2.2% since January.” That’s the way the [inflation tax]( works… It falls most heavily on the poor and middle classes, who have no way to escape it. Recommended Link [Bill Gates, Mark Zuckerberg, Elon Musk and Jeff Bezos all Betting on S.C.G.]( [image]( Apple, Google, Amazon, Facebook & Microsoft are all betting big on S.C.G., a new tech that has been called “one of the great transformational technologies of the next 50 years.” Even Elon Musk, the U.S. military, and NASA are getting involved. And now legendary tech expert Jeff Brown is revealing this tech on camera for the first time ever. [Click here to see it in action and learn how it could change our way of life.]( -- Clean Getaway The feds added about $3 trillion in new cash – based on the Fed’s balance sheet – between 2007 and 2019… and then another $5 trillion since then. Those chickens are now descending on the U.S. economy, like a flock of vultures. And so, the inflators are doing their best to lay the blame anywhere and everywhere… except where it belongs. [Featured: A message from Jeff Brown on the hottest investment in 2021]( Joe Biden has already told the Federal Trade Commission to find some patsies. It is supposed to “strike back at any market manipulation or price gouging [in the energy sector],” he says. And yesterday, he came to Baltimore again. He went down to the harbor and pretended to “do something” that will solve the “supply chain disruption” problem, whatever that is… The Washington Post, a “paper of record” for U.S. politics and an all-purpose shill for the ruling elite, eagerly helped mislead the public. Here’s the subhead from yesterday’s article quoted above, pointing the finger in the wrong direction, so the real culprits can make a clean getaway: It’s unclear when supply chains will clear, especially given how vulnerable the economy remains to the pandemic. [Damned supply chains]( Recommended Link [URGENT: TRUMP TRADE SHOT UP 2,465% IN UNDER ONE WEEK]( [image]( In less than one week, this Donald Trump related trade went up more than 25X. 25X IN UNDER ONE WEEK! That’s an average gain of 109% every single hour the market was open. And Warren Buffett used this same type of trade to make $12 billion in one move. Now, nothing in the market is guaranteed. We can’t promise anything… But stop what you’re doing and get serious… Because you simply can’t miss the NEXT huge trade. Here’s the details on a similar trade that could go up to 49X. [→ Click here for the URGENT story ←]( -- From Bad to Worse According to the servile press, Biden’s $1 trillion in new “infrastructure” spending – almost every penny of which will be financed with more printing-press money – will help fix the “supply chain problem.” We can’t wait to see the follow-up story: Biden Mends Supply Chains By Printing More Money; Prices Fall Don’t hold your breath. Not going to happen. First, because Biden knows nothing about supply chains, he has no clue about what’s wrong with them or how to fix them. Second, because the supply chains are not the real problem. They’re just being used as a “rope-a-dope” by the elite press. And third, because more money-printing will make the real problem – monetary inflation – worse, not better. And so approaches the moment of truth, when the Fed will have to lay its cards on the table… Raise interest rates to limit inflation? Or let ‘er rip… Blame the supply chain and protect the elite? Stay tuned… Regards, [signature] Bill --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Most expensive Thanksgiving ever!). --------------------------------------------------------------- FEATURED READS [Where Veterans Can Find Deals and Freebies This Veterans Day]( around the U.S. are hoping to honor service members today, on Veterans Day, through special deals and freebies for them. Fox News breaks down where you can access these opportunities… [Why You Shouldn’t Worry Too Much About Today’s Headlines]( global news headlines scream worry, fear, uncertainty, or volatility, you may not know where to turn for solid, trustworthy advice. Casey Research editor Kris Sayce gives his take on the U.S. economic scene. MAILBAG Dear Readers appreciate Bill’s writings from Tuesday, [“Public Policy: An Elaborate Fraud”]( Cheers to Bill; always the first letter read! Very worldly man; thinks like me… – Peter C. You tell them Bill! That was one of your best letters ever! – Charles B. Always love your writing, Bill, and if perceived by some as “negative,” all the better, as the government overreach is getting quite exasperating. The latest from Queensland Australia is from the 17th of December, businesses will be required to check if you are vaccinated and WON'T be allowed to let you in if you are not double vaxxed! Keep up the good work, because they are beating us at the moment… – Tony G. Other readers have more to say about [Bill’s essay on climate change and Saint Greta (Thunberg)…]( Many people in my life have fallen for the climate scam constantly ranting about how hot the planet has become and how it cannot end well. Yet when I ask them what the ideal temperature would be for our earth, they have no answer. They simply obfuscate and ramble about heat, CO2, and all of the attached talking points that have been fed to them by Gore and the obnoxious teenager called Greta. After so much evidence showing that pretty much any large government endeavor is a money wasting boondoggle, naive and gullible humans continue to fall for the next one. – Al D. Thank you for your unbridled cynicism, about the many others who tell us what we “should” do. The older I get, like you, the more cynical I get of others telling me what to do. The “should” word is actually a cognitive distortion in psychology (Dr. David Burns). It is done by immature, child-like persons, who live in a wonderful fantasyland, who hope by criticizing others they can control or manipulate them. Last I heard, Greta is neither an expert, nor an adult, nor a mechanic. Keep it up. – Frank F. Precisely! The phrase "Empowered by Uncertainty" is a great way of putting all this hysteria about climate change. It's also why you never argue with a liberal… you can't disprove any of it. My question has always been: where does all that carbon go? Does it just collect up there like steam in a shower, does it fall back to earth, does it combine with other elements to form other compounds, or does it travel through the atmosphere and exit out into space? Enjoying another beautiful fall day in Georgia! – Jim B. Thanks so much for putting Saint Greta in the proper perspective. It is absolutely laughable to see all of those high-level dignitaries sitting and listening to that pugnacious little snot as if she possessed some higher level of knowledge about climate change than them with all of their education and experience. If only they could step back and take an honest look at themselves, they would realize how ridiculous they are. What a bunch of morons! Thanks again for your great commentary! – Bill A. How has the government overreach become “quite exasperating,” as reader Tony says? Why is the government willing to listen to a teenager on the subject of climate change? 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