{"id":1148872,"date":"2023-02-13T12:10:31","date_gmt":"2023-02-13T17:10:31","guid":{"rendered":"https:\/\/bugaluu.com\/news\/living-the-lie\/1148872\/"},"modified":"2023-02-13T12:10:31","modified_gmt":"2023-02-13T17:10:31","slug":"living-the-lie","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/living-the-lie\/1148872\/","title":{"rendered":"Living The Lie"},"content":{"rendered":"
\"\"<\/a><\/div>\n

Living The Lie<\/span><\/p>\n

\n

Authored by MN Gordon via EconomicPrism.com,<\/em><\/a><\/p>\n

\n

\u201cIt is significant that the nationalization of thought has proceeded everywhere\u00a0<\/em>pari passu\u00a0with the nationalization of industry.\u201d<\/em>\u00a0\u2013 EH Carr<\/p>\n<\/blockquote>\n

Denying the Truth<\/strong><\/h3>\n

Central planners face an impossible task.\u00a0 <\/strong>They must compel people to behave in ways that go contrary to freedom of choice.\u00a0 Only those full of conceit and having an outsized ego would make a career out of this line of work.\u00a0 You know the types\u2026<\/p>\n

Thou shalt only take public transportation.\u00a0 Thou shalt pay income taxes. \u00a0Thou shalt consume bugs.\u00a0 Thou shalt use electric leaf blowers.\u00a0 Thou shalt own nothing and be happy.\u00a0 Thou shalt have a permit to sell lemonade.\u00a0 Thou shalt do as I say not as I do.<\/p>\n

Yet, even when the plebs go along, the plans of central planners never work out as intended.\u00a0<\/strong> They\u2019re costly.\u00a0 They create unnecessary work.\u00a0 They can also be extraordinarily destructive.<\/p>\n

Rather than accepting their limitations, however, central planners redouble their efforts.\u00a0 They create complicated incentive programs.\u00a0 They reward one industry at the expense of another.<\/p>\n

And when their promises of the more abundant life don\u2019t square with reality, what do they do?\u00a0 They fabricate lies to deny the truth.<\/p>\n

Take Treasury Secretary Janet Yellen, for instance.\u00a0 She must have exceptional vision.\u00a0 She sees what no one else can.\u00a0 In particular, she sees a path for avoiding a U.S. recession.<\/strong><\/p>\n

Yellen\u2019s path involves a decline in the rate of inflation and a strong U.S. labor market.\u00a0 She was even kind enough to describe what it looks like on\u00a0ABC\u2019s Good Morning America<\/a>:<\/p>\n

\n

\u201cYou don\u2019t have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years.\u00a0 What I see is a path in which inflation is declining significantly and the economy is remaining strong.\u201d<\/em><\/p>\n<\/blockquote>\n

Yellen pointed to last week\u2019s U.S. Bureau of Labor Statistics employment\u00a0report<\/a>.\u00a0 The propaganda machine\u2019s January data was a real leg slapper.\u00a0 It showed an increase in nonfarm payrolls of 517,000 jobs.\u00a0 Consequently, the unemployment rate fell to 3.4 percent \u2013 a 53 year low.<\/p>\n

Baseless Disinformation<\/strong><\/h3>\n

What Yellen didn\u2019t mention is that her path for avoiding a recession doesn\u2019t exist.\u00a0<\/strong> For starters, the BLS data is baseless disinformation.\u00a0 When the bogus \u201cadjustments\u201d the bureaucrats added are taken out it\u2019s revealed that the U.S. economy actually lost 2.5 million jobs in January.<\/p>\n

The roughly 3 million jobs that were added to show a positive increase of 517,000 jobs were completely fictitious.\u00a0 In reality, the economy is hemorrhaging jobs.<\/p>\n

Dell Technologies, for example, is RIFing 6,650 jobs.\u00a0 They\u2019re doing so because the demand for personal computers has abruptly evaporated.\u00a0 These reductions in force (RIFs) will reduce Dell\u2019s global payroll by about 5 percent, bringing it to a six year low.<\/p>\n

This comes as Boeing and Zoom announced layoffs of 2,000 and 1,300 employees, respectively.\u00a0 Similarly, Meta, Twitter, Google, Microsoft, Opendoor, and Amazon have all had recent layoffs.<\/p>\n

These are high paying technology jobs that are disappearing.\u00a0 Adding low paying healthcare jobs at nursing homes won\u2019t drive economic prosperity.\u00a0 Nor will adding government jobs, which are financed with debt.<\/p>\n

According to tech job tracker\u00a0layoffs.fyi<\/a>, there have been nearly 260,000 technology jobs lost since the start of last year.\u00a0 What\u2019s more, in 2023 alone, as of early February, technology companies have laid off over 98,100 employees.<\/p>\n

Clearly, the BLS report is utter nonsense.\u00a0<\/strong> As for Yellen\u2019s inflation claim?<\/p>\n

The consumer price index (CPI) report for January will be released next week.\u00a0 We anticipate the number fabricators will show that the rate of consumer price inflation continues to slow.<\/p>\n

Does this propaganda even remotely jive with the total price you pay when buying your weekly groceries?\u00a0 What about your recent utility bills?<\/p>\n

The prices Americans are paying for these essentials are off the charts.<\/strong><\/p>\n

Does anyone care that you can now buy shares of GOOG for 27 percent less than you could one year ago?\u00a0 You can\u2019t eat GOOG, and there\u2019s no dividend.\u00a0 And even if you could, it\u2019s still a terrible deal.<\/p>\n

Yellen, through BLS lies, is denying the truth.\u00a0 Should we expect any different\u2026<\/strong><\/p>\n

<\/strong><\/p>\n

Arrested Development<\/strong><\/h3>\n

Yellen, if you don\u2019t remember, was Chair of the Federal Reserve from 2014 to 2018.\u00a0 She\u2019s only the second bureaucrat to be both Fed Chair and then Secretary of Treasury.\u00a0 The first was G. William Miller way back when Jimmy Carter was President.<\/p>\n

Miller was a poor steward of the dollar.\u00a0 Inflation went Richter on his watch.<\/p>\n

Yellen, like Miller, has had the unique opportunity to authorize money using credit she previously issued.\u00a0 The consequences under Yellen have been equally destructive for the dollar.\u00a0 In fact, they may even be worse.<\/strong><\/p>\n

Prior to her time as Fed Chair, Yellen held various positions with the Federal Reserve over a 20-year run.\u00a0 We don\u2019t really know much about what she did.\u00a0 But, at a minimum, she participated in an era of unprecedented Fed activism.<\/p>\n

Certainly, Yellen has spent hours squinting at graphs and charts while contemplating how central planners can compel them to appear more to their liking.\u00a0 She also believes monetary policy is a moral issue.<\/strong><\/p>\n

In fact, back in 1995, at a Federal Open Market Committee meeting, Yellen argued in favor of allowing inflation to exceed inflation targets for moral reasons.\u00a0 The late Robert Wenzel documented the discussion in his\u00a0Economic Policy Journal<\/a>:<\/p>\n

\n

\u201cMs. Yellen told the committee that \u2018the moral\u2019 of all this is \u2018that the Fed should pursue multiple goals.\u2019\u00a0 She said that \u2018when the goals conflict and it comes to calling for tough trade-offs, to me, a wise and humane policy is occasionally to let inflation rise even when inflation is running above target.\u2019\u201d<\/em><\/p>\n<\/blockquote>\n

We\u2019re now living with the result of the wise and humane policies of central planners\u2026<\/p>\n

Living the Lie<\/strong><\/h3>\n

Inflation, in a practical sense, acts as a hidden tax on savers and wage earners.\u00a0<\/strong> It devalues the purchasing power of their savings and paychecks.\u00a0 Moreover, inflation robs them of the time and sacrifices they made to earn it.<\/p>\n

Ask any retiree living on a fixed income or a hardworking prudent individual skimping to squirrel away some nuts for retirement.\u00a0 Policies of inflation are not wise and humane; they are deceptive and cruel.<\/p>\n

Yellen, no doubt, wakes each morning, sips her coffee, and gazes out across the economic landscape.\u00a0 What she sees, if she\u2019s honest, is an absolute cluster.\u00a0<\/strong> But with the propaganda machine on her side, she can get to work elaborating ideas, rationalizations, and justifications for why everyone \u2013 including you \u2013 is living the dream.<\/p>\n

The unemployment rate is low.\u00a0 Jobs are being created in abundance.\u00a0 Inflation is moderating.\u00a0 There\u2019s a clear path to avoiding a recession. So long as we walk down it together.\u00a0 Yellen says so.\u00a0 CNN says so too.<\/p>\n

The problem with government propaganda, among many, is that it denies the truth.\u00a0 It attempts to induce people, through repeated justifications, to accept an official narrative that anyone with a small modicum of curiosity knows to be a lie.<\/p>\n

By denying the truth, these state actors are disrespecting the truth.\u00a0<\/strong><\/p>\n

And by disrespecting the truth, they open a Pandora\u2019s box full of moral obscenities.\u00a0 The means become blurred with the ends. \u00a0The world becomes something much different than what\u2019s advertised.<\/p>\n

And the remnants of a free society slip beneath the lies layered upon lies.<\/strong><\/p>\n

*\u00a0 *\u00a0 *<\/p>\n

Don\u2019t believe the lies of central planners.\u00a0 The economy\u2019s cracking up.\u00a0 Financial markets are at an extremely dangerous place.\u00a0 Discover how to use the\u00a0Financial First Aid Kit<\/a>\u00a0to protect your wealth and profit as the global economy slips into a worldwide depression.<\/em><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nMon, 02\/13\/2023 – 16:35<\/span><\/p>\n

From:Zerohedge<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Living The Lie Authored by MN Gordon via EconomicPrism.com, \u201cIt is significant that the nationalization of thought has proceeded everywhere\u00a0pari passu\u00a0with the nationalization of industry.\u201d\u00a0\u2013…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1148872","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1148872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1148872"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1148872\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1148872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1148872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1148872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}