John Oliver on Inflation

[theshadowknows]

[Maxmars]

I realize that this is a beloved entertainer, doing what he and his writing staff do... I mean not to diminish the joy he gives people... but I just found so much to disagree with here that I couldn't resist...

First of all, I love this guy's presentation... he is very very good at being an engaging speaker.  Hat's off there.  But...



I really couldn't agree with his most substantial premises and arguments...

He describes inflation in such a way as to make me think I will be rejecting his conclusion, beginning with the 'soft' idea that we are going to be exploring "how we got here" but then swerving into something I found "misdirecting."  He exposes the political clowns using their favorite hyperbole or strawman, and corrects it by saying they are all partly right... none of them actually were 'partly right.'

He gestures with emphasis to proclaim that there is no one cause of inflation. 
That is categorically wrong. 
The correct answer seems an unintended joke... the is ONE cause of inflation... MONEY!

As it is 'moved' today, money is entirely dependent on one simple rule... it is virtual.  It didn't start out that way, it happened over time.
The narrative of scarcity driving prices is incidental, a cosmetic symptom, not a cause of general inflation.
That enables the egregious 'gaming' of the economic system at the highest levels. 
And we mustn't forget there IS a monopoly of currency in place.  ALL money is "bank property" (or your going to jail.)
One solution (sure fire) to end inflation-gaming once and for all... we should own our money... not the Bank. 
That, or at least figure out what it is about a Star Trek future is so damn reprehensible.

Oliver relies upon an establishment contrivance known as the perennial "perfect storm" gambit... and sort of left it there. 

His elaboration about how people charge more for things as they choose, is not ever 'only during inflation.' 
He also fails to discuss that everyone winning $40 million would necessarily result in the currency's base value to decrease... 
So everyone is a millionaire? Welcome to the land of the hundred thousand dollar egg!

The Conservatives he chose to show all are pissed off about the policies Democrats pursued... had the funds been at their disposal they would have spent them differently...

except they all ignore that 'the funds' are all borrowed cash from the bank...
with compounded interest due on demand. 
WHATEVER they use the money for, it still engenders the debt that "drives" the inflation.

(As Oliver points to the oh-so-popular "PANDEMIC STIMULUS BILL" I can't help but wonder at how much Koolaid must one drink to overlook the transnational money laundering and wealth shift that the "stimulus" had "nothing" to do with.)  He refers to the stimulus package as "Biden's stimulus" which was not the 'cause' of inflation. 
I expect that will now be appearing in modern history books... 

He then describes the global economic climate, with many nations are also experiencing.

And what do all these nation share in common with America?  The global bank cartel.  The literal 'holders of all the cards.'

[roughly ten minute mark]

Oliver segues into the "other side" of the equation..."demand" (the previous being "supply.")

(It seems he is reinforcing the wrong idea that money supply is about what gets into the hands of the population. 
The 'supply' problem is the bank... from which every single cent is borrowed...
and the amazing number of ways they can profit from that monopoly. 
They have become the unelected 'gatekeepers' of the general wealth of nations.

I can't abide the idea that the less there is of something the more you have to charge for it.  That is not a rule. It, on its' own, cannot be the 'big target' about understanding inflation.  It isn't just "how much people will charge for their product or service."  It's about how much is your money actually worth. 
This isn't an easy to convey Utopia of economic understanding.

Oliver still falls back to the COVID event as a cause for the diminished production which led to scarcity.

Do I even need to say it?  I know COVID was supposed to crush and demoralize people into just accepting what happened as "one of those things" most Americans know damn well it wasn't.  Too many major players became massively wealthier, unnamed unelected institutions became even more powerful, grandiose social engineering plans were 'attempted'... COVID wasn't just something that was 'completely unplanned.'

He then tows the party line about how our gas pricing fell victim to Ukrainian and Russian oil production.

[14:40]

I have no idea what I'm talking about... Inflation is too complicated... there are all these 'real-time' factors... no one can understand it... it's based on "the market" (that mythical magical random entity)...
Not one word of private banks (like the Fed,) or monetary policy, or cash supply... but if he is right... I really don't know what I'm talking about.

Oliver brings in the Fed!  And talks about the Fed controlling inflation by adjusting the interest we pay them for their loans.

When I get paid, it's because someone, somewhere up the line from me, borrowed it from the bank.  Me getting paid, earning income, is a loan.  Think on that.  It's all debt.  No asset.  In a virtualized monetary system there is no demonstrable value to any of it.  We ostensibly participate to cooperate with the world controlled by the bank.  But to pretend that the sole controllers of wealth should not demand unregulated profit from such a vital economic function would be anathema to them... they worked so hard to get here.

Asking the Fed to 'fix' the problem is like asking a vampire to suck harder.

This keeps coming back to the pandemic event. 
Unprecedented, Shock, (the "who knew?") everyone was gobsmacked!
Just like 9/11... the ultimate excuse for getting rich... becoming more powerful... unleashing hitherto unacceptable 'change' upon the people.

As Oliver dives deeper into the characterization of the matter, I realize that if he were not being funny (which he is) I wouldn't recommend it to my kids for fear of them actually 'going along with' his premises that are deeply flawed.

Feel free to disregard this... I know people who love J.O. and consider him wise will object... I meant no disrespect... but I couldn't help myself...

I hate that generally speaking, this is how many people are 'taught' what inflation is (among other things.)

[UltraBudgie]

once you notice oliver's comedy timing pattern its hard not to unnotice it...

obvious-point obvious-point wry-aside laughter...
obvious-point outrage zinger laughter...
calm-down on-your-side relief-laughter...
obvious-point obvious-point wry-aside laughter...
obvious-point outrage zinger laughter...
calm-down on-your-side relief-laughter...
...


so he mixes those obvious-points being things that are quite true and everyone would agree with, then some "obvious-point" beats substituted with the propaganda takes that he wants to make. "of course no one can predict inflation", "the stimulus package while necessary", etc. the listener is caught up in the comedy rhythm that the indoctrination slides right in, there's no pause to be able to think hey wait a minute...

it's funny, but insidious.