While reading yours... I received a text from my daughter:
Every machine is
a smoke machine
if you operate
it wrong enough
Such a nice little nexus in the timing of a passing moment...
Mercantilism is fragile... and thus, but not only thus due to its fragility, is an inferior system of trade...
We are experiencing its inferiority in fragility, now, as we are its errors in other things less mentioned...
Inflation being "transitory" as described... is true only in the misused sense of the word in every moment in time being being transitory... as each moment passes and is succeeded by another... That use of the word transitory implies an inexorable and independent succession of one to another... with the irreversibility inherent in the arrow of time.
However, transitory in true common meaning... requires a fully reversible change occurring in a temporary circumstance... not the accumulation of past influences without any reversal.
Read what they have said about "transitory"... and every explanation offered fully destroys the actual meaning of the word... reducing it to meaning only that the inflation we have right now... will not be the inflation we have in the next subsequent interval of time... while admitting fully that the impact we see is cumulative and not reversible... even as the rest of efforts made are to deflect from "what is" apparent in the metrics in fact... and what a proper view of "what is" in the drivers might reveal...
Thus, "transitory" as used translates to "not transitory" in real meaning... and the use made is only intended as a lie... because they do BELIEVE that reality is MORE defined by what you believe, and not "what is"... the lie being the language of MOPE... easily detected now as they openly discuss influence on "expectations"... But, "what is" matters... more in some things than others... and always within limits that cannot be exceeded without engendering failure... including that of the sort we are experiencing now.
The "transitory" talk... is an admission that "structural issues" exist.... which "they" proclaim in dismissing its import with a passing hand wave... will rapidly and soon be resolved... ignoring the impossibility of it happening... while engaging some NARROW aspect of the need in fact... by things like passing $5 trillion in "extra" spending focused on solving the "structural issues" by spending it "all" on [infra]"structure"...
Only... exactly as we just saw in the issuance of the $650 billion in SDR's employed in accelerating the monetization of the debt... with no one even noticing it ? Corruption likely requires that only 10% or less of the $ being allocated to address a problem... is used for that... as in [infra]"structure" $ being used (or not) to resolve structural problems... while corruption allows (requires) the remaining 90% funds and enables more of... the corruption. And, should you now expect anything other than the success of [infra]"structure" spending in resolving "structural issues"... roughly mirroring the success of the withdrawal from Afghanistan... ? Corruption does that... as it fails. And, reality, it turns out, doesn't care if the corruption enabled is "legitimate" as a function of state power... or not ?
In the least cynical interpretation... just as a function of timing... "transitory" would still, at a minimum, require sufficient time [how much?] for the $5 trillion in spending to have the salutary effects intended in resolving actual "physical" problems that "expectations" alone cannot possibly resolve ? We do not really live in a world where wishes come true... only because we wish they would ?
Yet... that expectation about expectations... is currently one of the foundations of the global economy.
Another of the foundations of the global economy... is that in spite of the reality of corruption, "the magic of expectations" will also work in ensuring the fundamental competence and unerring success of those empowered as leaders.
The 10% effort in "fixing" what's broken structurally... that once broken cannot be fixed at all, let alone fixed with a 10% effort... conflicts with the 90% effort made in funding the accelerated expression of the consequences of the breakage, now... while postponing the recognition of... "that won't work" for later ?
Living in the lie, or the dream... that we have a free market... and that the failure you see is the failure of the free market... rather than what happens when free market functions are replaced with centralized direction, coordination and control of functions... to impose a fragile mercantilist ideal... whose only benefits are ones accruing in the aggregation of power... to enable its abuse... at the expense of improvement in function ?
Expecting socialism to work... doesn't make it work... no matter the brand you select. |
