Nice Inflation – Nice Hurricane – Nice Recipe

by

How can we be so lucky?  Everything is going “nice” – sort of.

We begin with the report on inflation, just issued by the Labor Department.

“The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in
August on a seasonally adjusted basis after rising 0.5 percent in July, the U.S.
Bureau of Labor Statistics reported today. Over the last 12 months, the all items
index increased 5.3 percent before seasonal adjustment.

The indexes for gasoline, household furnishings and operations, food, and shelter
all rose in August and contributed to the monthly all items seasonally adjusted
increase. The energy index increased 2.0 percent, mainly due to a 2.8-percent
increase in the gasoline index. The index for food rose 0.4 percent, with the
indexes for food at home and food away from home both increasing 0.4 percent.

The index for all items less food and energy rose 0.1 percent in August, its
smallest increase since February 2021. Along with the indexes for household
operations and shelter, the indexes for new vehicles, recreation, and medical care
also rose in August. The indexes for airline fares, used cars and trucks, and
motor vehicle insurance all declined over the month.”

Side of drill-down with that?

A friend of mine, one of the world’s leading financial engineers – once told me not to make too big a deal about inflation.  Because when it came down to it, inflation was powering much of America increasing prosperity.

“Buy a home for one price, and if you can avoid the grenades’ rolled by the H.R. department at work for 20-years and actually pay if off, you’ll have a pretty good pile of dough saved-up in retained pricing of the home…

While he’s right – on paper – fact is its getting hard for everyone to avoid the out-cycling orchestrations of HR, seems like.

Nice Hurricane

Hurricane Nicholas lasted all of what, 6-hours, or something before moving over Houston and on to the east in the early morning hours today?

Alas!  Oilman2’s new marina in the Woodlands didn’t float.  And Linda-at-Law reported in early:

“It’s now 0500 Tuesday. I have intermittent power. It’s quite windy with bursts of rain, but no deluge like Harvey or Imelda. My subdivision is in the northern edge of Harris (I have a Houston ZIP code but it’s an unincorporated area – Harris provides the services, not Houston proper). From what’s been posted online Galveston and Brazoria Ctys. have been slammed, major power outages, flooding in the usual areas, etc. ISDs are closed today, as are most businesses.

What I don’t know is how fast Nicholas is traveling. It’s been downgraded to a TS. I’m pretty sure your area will be okay, maybe a bit breezy.”

Not even.  We couldn’t even lift a kite with the light winds in our area this morning.

Doubtful whether we’ll even get measurable rain, too, by the look of things.

Ure’s Daily Idiot Check

Let’s take them as a group, first:  California Recall: Biden, Pelosi Rally Support For Newsom; Voters Want It Over.

Then, individually.  Ladies first:  Nancy Pelosi’s $3.5 Trillion Tax-Hike Plan.  Fact is, the Pelosi spendaholic plan would shove higher tax rates on America than communist China.  So are we self-funding a national buy-out, or what?

Slow Joe check:  Joe Biden Jokingly Makes Sign of the Cross While Talking About Donald Trump.    Didn’t think anyone would notice?

Does the bug man come on Tuesdays?  Dr. Fauci to unvaccinated: You’re not in a vacuum; you’re part of society.

And what “idiot check” would be complete without you-know-who…her:  AOC Attends Met Gala in ‘Tax the Rich’ Gown.  It’s all about the money…

New American Industry!

Forbes is all about business right?  So does the headline Top 5 Mistakes Male Leaders Make When Thinking About Gender Equality (Part 1) mean gender is a new business?  Maybe in part 2?

We’re not too sure where to file this one:  If you want proof of environmental racism, look no further Hurricane Ida.  Got some ViseGrips I can borrow?

But, the morning capper is from the NY Times: “Squaw Valley Resort, Acknowledging ‘Racist and Sexist’ Name, Changes It.”  Say, is there a rehab facility that can hold 250 million people?

Real Useful News

In found these days on sites like Study Finds: Overeating doesn’t cause obesity? Scientists claim it’s all about what you’re eating.

Also some useful data on how Dr. Ouchi’s Baby has worked to divide America more – like we need it: 1 in 7 people have dumped their friends over COVID-19 vaccine stance.  Jab or leave me?  (OK, gone…)

Changing Weather

The first day of East Texas summer came early on May 3 this year.  After that, it was a cool month and summer didn’t really kick in until June.

See, out here, the seasons are based on real – working – temperatures.  90F is summer. Over 90,k we start looking for beer, not tools.  And having explained this, looks like the last day of “summer” here will be Saturday when odds are fair we could see the final 90F high of the year.

Been a nice summer – but now things like outdoor welding projects can be resurrected.  I don’t know how real welders in Texas can gear up when it’s 95F and 75% humidity down by the Gulf.  I turn into a simpering puddle over 85, or so.  Maybe 87 when plasma cutting.

Seasonal Food Changes

Elaine and I were talking to my pal of 67-years (the Major) and I promised I would write down my recipe for lemon chicken piccata.  So please make a note of this:

  • Start with 2 pounds of organic skinless, boneless chicken thighs.  Wash thoroughly and pat dry.
  • Put half a cup of heavy cream in a bowl.
  • Into another, larger, place 4-5 tablespoons of white flour.  And a half to full tablespoon of your favorite seasoning salt.  Lawry’s or Johnny’s Dock is usually picked here.
  • In a large fry pan, melt a little more than half a stick of butter.  Mix with an equal amount of olive oil.  Drop in half a teaspoon of garlic powder (a little more, depending on taste) and a teaspoon – or more – of tarragon.
  • With the pan coming up to hot, drag a piece of chicken through the cream, then through the flour and spices.  Place in pan.  Repeat until the chicken is all happily sizzling.  Crack a bunch of pepper over it, too.  Make a note to toss some white pepper in the flour mixture next time.
  • Turn the chicken once, and just before it’s done (check with fork) splash 2 tablespoons of capers and 2 tablespoons of that caper juice over the chicken.
  • When all is golden brown, remove the chicken to a warm serving plate.
  • In the pan drippings, squeeze in two lemons and a shot of Cointreau.  Mix all like crazy until it comes to a boil and then drizzle over the chicken.

Serve with a nice wide-noodle Alfredo and a jug of Carlo Rossi Paisano  wine.  Share, only under duress.

Stock futures are up 135 on “good inflation hype” which is taken to mean the Fed won’t begin tapering too early.  Our quite contrarian view is this means in reality deflation is even worse than we thought.  At some point, someone besides us will figure that out and conclude this is the Second Depression.

But, as long as we’re papering things over, what could go wrong?  Besides the politics, bioweapons, and terrorists sneaking over the borders and into high office?

Write when you get rich (and full)

George@Ure.net

45 thoughts on “Nice Inflation – Nice Hurricane – Nice Recipe”

  1. Ask on platinum eagles is $1,075.
    Ask on gold eagles is $1919.29.

    Seems like platinum is getting cheap compared. ICE cars are over.

    • Platinum isn’t a monetary metal. Very dependent on manufacturing uses as is the other Platinum Group metals. Doesn’t mean it won’t still be worth something when TSHTF, though. Catalytic Converters still worth stealing. Just ask Eric the Car Guy.

      • You’re right. Now that you mention it platinum is the old world in the rear view mirror.

        The new car needs an efficient charging station at the home base. People will want the ready power of a Tesla Powerpack (or the like) to ease grid demand. I don’t know the obvious solution but platinum doesn’t seem to be needed in the world that’s being imagineerd. ;)

        I think the S did HTF and expect the $ to be toasted for a new currency somehow based on the ‘Belt and Road Initiative’. BRI is the world.

      • not for Earthlings, but it is what”they pay” human reps ..that and the opened growth plates thing..

      • Lol lol isnt that the truth.. if I have a pound of coffee and you show me an old twenty dollar gold coin… which is more valuable to you.during the weimer depression city dwellers took baskets of gold and silver to trade for vegitables. inthe depression and drought during the 1800 gold rush. A cup of water cost 3 ounces gold.. a room and a bath with a quick romp in the sack was an ounce of gold..
        I have said many times.. if you offered people in the Sudan dying of thirst and hunger.. a truckload of food and a tanker of water seeds and a hoe.. or a million dollars of gold.. which one do you think they would they take..
        Coins were a way to carry malleable metals for trade for finished tools.. dollar script was to show you had that much grain in storage..
        When Spaniards came seeking gold and asked where the wealth was they were shown corn.. gold was for decoration..
        In the end what do you value..

  2. CPI – my tired ass – more bread and circus nonsense, worthless data as it were.

    Talk about hiding the sausage G, that is some seriously “massaged” data labor dept trying to foist on us. Thinking the PPI might be a better indicator of inflation pressures building into our future.
    None the less – BCN can not trust anyone or anything, including the big white hot Sun – not the nice warm yellow Sun of my childhood, no this Sun is a slow, angry hot, fckr.

    Interesting article today looking at links with solar activity to Influenza and covert19.

    Electrical Influence = Influenza.

    Scientific proof Spanish Flu NOT Contagious.
    Yes you read that right – and yes this is a very thought provoking read https://nourishingtraditions.com/is-coronavirus-contagious/

    Clues about how Life actually works in our current shared reality here on prison farm Earth..

    * Did someone say Tezos was going to be IRS token for Tax receipts/payments in 2023 ?

    -say you dont think the bcn went long a lil Tezos last night ????

  3. George,
    Re your last paragraph. The late great Paul Harvey frequently said, “It ain’t no use to worry, cause nothing gonna turnout alright.”

  4. Folks,

    One of my escapes is sitting on the back deck admiring nature. I especially enjoy all of my hummingbird friends. I enjoy them so much, that I decided over the weekend to share them with other people. So, to accomplish this I created a YouTube channel for them.

    If you’re into that kind of thing I started the first livestream this morning. Soon they’ll migrate south for the winter and all of the fun will be over.

    Enjoy!

    https://www.youtube.com/watch?v=GBu8I3t4xDA

    • MAJ13
      Wife and I enjoy our hummingbirds as well. Somehow we have been placed on the Hummingbird AAA list. We have 14 feeders (each has six feeding ports) and we are filling them twice a day. Until the little beauties head south, we are going through 25 pounds of sugar a week. Seems they are staying a little longer this year. Maybe they sense the storms on the Gulf coast.

      Less work when they leave, but always sad to see them go. Used a formula we found online to calculate the number of birds based upon the amount of food they consume. We have greater than a thousand birds stopping by our house.

      All started about 12 years ago with one feeder. They are so accustomed to my wife, that they are eating from the feeders as she hangs them up.

      Thanks for posting your video. It is nice to know someone else enjoys them as much as we do.

      • Wow! That’s a lot of birds, but I think it’s well worth the expense. I only had one feeder that I didn’t maintain very well, honestly. There were a couple of birds that would hang around, but it wasn’t something that I was cultivating.

        A few weeks ago I talked to a couple of friends that told me how to maintain the feeders and how to properly mix the water and sugar. Once I did that the single feeder (the blue one) became very popular, so I decided to add more feeders. Then suddenly one day there were a lot of birds! I don’t what it is about them, but I really enjoy having them around and that’s how I got the idea for the YT channel. I already manage two other channels so it was easy to setup.
        Right now, my outdoor camera is a laptop sitting on top of a 6′ step ladder.

        If you don’t mind sharing the bird calculation formula I’d love to have it!

    • Looks great. I only have two, or three “hummers’ a year around here. Last Fall I bought a heated feeder to keep the nectar from freezing as they always seem to hang around until well after the first snow.., this past Winter one tough hummingbird stayed the whole winter., heavy snow, below zero temps., but I saw him two, or three times a day at the feeder.
      – I enjoy watching them.., it’s just a ‘Zen-Minute’.., but amazing little creatures.

    • MAJ13

      The formula I found states that you can figure 137.5 birds per quart of sugar consumed per day. Another formula says count the birds on the feeder at any one time and multiply by 6.

      The sugar water consumption formula is probably more accurate considering the amount we put out each day.

  5. George. Leather up. Did six months Australian out-back as welders TA (trades assistant) Wore full leather jacket and apron and leggings in 40+C. Sweat under garment when ventilated in movement provided cooling affect and leather exterior shielded our star. Drank a lot of water and yes, Beef Wears Leather.
    Thank you for everything you share.

  6. Re: “Jab or leave me? (OK, gone…)”

    LUNACY

    “LONGVIEW, Texas (KLTV) – In an effort to combat COVID-19 and protect its students, faculty, and staff, one of East Texas’s largest school districts is offering an incentive to get the vaccine.

    Monday night, the Longview Board of Trustees approved a resolution authorizing a one-time vaccination incentive stipend of o$1,000 to all district employees.

    COVID shots will be offered on school grounds and employees have until November 1 to get fully vaccinated to receive the stipend. Employees that have already been vaccinated will receive the funds as well. Longview ISD has over one thousand employees.

    “Of course, participation is totally voluntary,” he said. “That said, we do want to offer this incentive for any employees who are currently vaccinated or planning to be so in the very near future. If someone is on the fence about it, perhaps this might help encourage them to do so,” Wilcox said.

    The money comes from E.S.S.R. funds, which is a state-to-district COVID-related program.

    Copyright 2021 KLTV. All rights reserved.”

    https://www.kltv.com/2021/09/14/longview-isd-board-approves-1000-vaccination-incentive-stipend/

    VERY, VERY SOON now, time to “push ’em back” !!
    https://www.youtube.com/watch?v=qS2VBem4Fdw

    • Guess what we learn from this is to wait for any future vaccine until it reaches an offer of 1 grand. These organization have set the price now for the future. Are you a sucker to get it free, or even pay to get it, or wait for the offers to start flowing in? I feel ripped off from doing those on the free side. If I had waited for offers perhaps me and my family could have made 4K. Sure a bit sarcastic, is crazy trying to convince folks by paying out significant sums of tax payer money. Wonder what the number is for most to forget their principles and go get their check and jab. We clearly buy votes this way, why not vaccines?

    • Any “incentives” to take an unapproved drug like this are prohibited under Nuremberg protocols. Especially since they’re not being honest with the fact the jab can kill you.

  7. “Slow Joe check: Joe Biden Jokingly Makes Sign of the Cross While Talking About Donald Trump. Didn’t think anyone would notice?”

    Did you notice that the crossing of left to right was done much lower than taught in Catholic school. Like the Satanists, an inverted cross.
    https://www.ebrosgift.com/products/ebros-samael-lilith-baphomet-on-inverted-cross-hanging-wall-decor-plaque-12-25h

    for Zepher,, beef wear their own skin, not leather. Leather is tanned hide from a dead animals, cattle pigs goats even reptiles. The Satanist red shoe club wears red leather shoes made from human skin

    https://twitter.com/khq1717/status/1140665221125758977

    They Live

    Meanwhile back to the California recall election in the process of being stolen. May reports of voters going in to vote are being told “you have already voted” but they are allowed to use a “provisional ballet” that everyone knows it will be NOT used . They are STEALING your vote and use it to give you politicians that you did not elect, but were selected by the OWNERS of the voting machines,, NOT YOU SHEEPLE/BAIT EATERS
    If you live in Cali, get your ass out and vote,,, overwhelm their cheating, it has a limited capacity to cheat,, We the People have a voice, use it!

    • This….So many people in the last election sat on their hands here in GA in the run off, so we got 2 democrat senators. I lay the blame on Trump for pissing and moaning about the results and not getting out the GA vote. But that was always who he is, the ego-maniac. Quite easy to start a rumor of cheating and people will not vote and then complain when others get their agendas moved forward. Of course I cannot imagine Elder would do much with all state houses/senate and even most other offices are democratic controlled with easy majorities. But I imagine he could be a right pain in the as_ and at least slow their agenda.

    • It is as corrupt as a home owners association that refuses to expire on its expiration date. Embezzlement, defraud, extort, threaten, steal and vote..

    • There’s a start-up initiative just beginning to get some traction and publicity, to toss ALL voting machines and return all elections, nationwide, to paper ballots. This is the initiative that I would suggest folks get behind — preferably before the 2022 Election…

    • Once you have had leather you will never go naked. Where is your experience/knowledge/facts. Why you bring up satanists and red-leather shoes proves your point(Paragon)! of demonic troll.

      • since the early 80s, all the welders I worked with wore these cotton jackets in hot weather.
        https://www.weldersupply.com/P/78/TillmanFirestopJacket
        much cooler and ya I have worked with some really good welders, during construction of twin 650 MW power plants followed by a 30 yrs of mechanical maintenance there.
        Why? does it bother you that I pointed out the satanists? Your miss-statement comment about beef wearing leather just gave me an excuse to point out the evil bastards wearing human leather. That is what you should be unhappy about. The satanists politicians that are actively destroying our country.
        Nothing against you, sorry if I gave you the wrong impression. I don’t care for wearing that much leather, other than shoes and belts and GLOVES, except when motorcycle riding, leather is best, used to enjoy a good Harley ride but at 69 I realized my limitations. Even had a leather welding jacket in the past, hot and heavy to wear.

  8. My wife got her 1st Moderna VAXX shot today at CVS. 2nd shot in one month. Dr Fauci would be proud. Our lifestyle puts us in constant contact with COVID carriers, but I have avoided getting it. She had Covid in Jan 2021, & we were concerned her natural immunities had worn off. Her Covid was Mild symptons of 101 degree temp & tiredness. Like the flu or a common cold. Only lasted a couple of days. Today, Her arm is sore but no other side effects. God bless America.

    • Your wife might want to get the Labcorp antibody test before putting herself through the second jab. Anecdotal evidence suggests that the more serious safety issues are with the second. I have seen nothing in the literature that suggests that with natural immunity, the second jab is needed, or particularly safe. This is the voice of experience giving you a hint.

  10. This ***might*** be going better than expected.

    I’m short this sucker from the 62% retrace at 4530 in ES.

    My calculated target of the C wave length at 162% X A wave, 4424 has hit today.
    Under every other circumstance, these pullbacks have been 3 waves, same measurement, and gone right back to the top.

    I don’t think so this time. I’m out half of it in case, but I was not expecting a bottom until a day or so before FOMC on 9/22. I thought it would take a few weeks of struggling to get to where we are in just 6 or 7 sessions.

    If we go to 262% the target is 4360 ES. If we land there on or about 9/22, my guess is we see a high in October.

    If are in the 4250 area ~ 9/20 – 9/22, FOMC will offer some assistance in getting it back up 50% or 62%, but a week later, look out. A surprise is likely to start around 9/29. Maybe October if levels haven’t been hit, but there’s my hopeful scenario for a trip down. Afterward, another high coming and the real fun begins next year.

    Keep this on the radar.
    Under normal circumstances, today would be the bottom of this correction, but I’m going out on a limb.

    For those who like visuals, we are on the edge of a very steep rising wedge. A few ticks lower, and we’re gonna fall 100 points in the S&P. Unless of course someone or something steps in, but by the looks of this wave and options premiums, I’m sensing controlled demolition.

  11. “index increased 5.3 percent before seasonal adjustment.”

    Where do I get some of the happy horse drugs their taking.. or are they just trying to sell horse shizt as spinach lol lol cable is going up 30% by itself..

    • I get how they do that… it is the same thing when they do the statistics and say that a McDonalds worker is making 30.44 per hour. when in reality they are offering 11.00 per hour…. they are taking the figures of all of those at the top making in the six and seven digit wage categories and dividing it among the mass of people earning an income…
      Salesmen many times does the same thing to convince someone that they are making enough to buy their products.. LOL LOL with creative accounting they can make anyone believe that they are doing a whole lot better than they are.. that is why one in three are on food stamps and different assistance programs..

  12. “Folks,

    One of my escapes is sitting on the back deck admiring nature.”

    Amen Maj… I to love sitting out sipping on a cup of coffee reading a book watching the squirrel play…Heaven if you ask me how it will be is that.. picking odd shapes out of cloud formations…

  13. George,

    Was amused by the comment that the ICE is dead. Maybe so, but so will everyone be, because sorry bub but farm machinery uses ICE. Read an article not long ago about the impracticality of going fully electric for motor vehicles.

    The writer had done his research and used the United Kingdom as his reference country.
    If one were to take ALL of the known world reserves of the rare materials necessary to make an electric vehicle; there is not enough to even supply the United Kingdom.

    Also, most of these minerals come from countries that have absolutely no regard for the nasty byproducts of producing these materials, nor the poor working conditions for the workers.

    Given that our power grid is already loaded to the point of collapse (Texas last winter), how in the hell are you going to charge the batteries?

    Nice thought, electric vehicles, but highly impractical if you intend to drive more that 100 miles round trip.

    Just in case the Demonrats succeed in outlawing the ICE, I have started building as ECE (external combustion engine) vehicle. Steam power that will burn everything from wood, wood pellets to corn or corn cobs.

    Just want to be able to ride by the charging station and thumb my nose.

    • “Given that our power grid is already loaded to the point of collapse (Texas last winter), how in the hell are you going to charge the batteries?”

      Why with $13k Power Walls and $60k solar panel arrays, of course. C’mon man, get with the program, and whatever you do, don’t look at the loss figures.

      “Just in case the Demonrats succeed in outlawing the ICE, I have started building as ECE (external combustion engine) vehicle. Steam power that will burn everything from wood, wood pellets to corn or corn cobs.”

      Steam is one I never explored, except theoretically, as a steam turbine driven by a hydrogen-fired boiler. The huge advantage to steam (piston) is you have 100% power the instant you throw the valve. The disadvantage is it can be a hungry beast. If you actually build a 21st Century Stanley Steamer I’d like to hear about it…

  14. Japan Warns Citizens to Avoid “Western-owned” Facilities in Six Southeast Asian Countries Due to Possible Terror Attack

    https://www.thegatewaypundit.com/2021/09/japan-warns-citizens-avoid-western-owned-facilities-six-southeast-asian-countries-due-possible-terror-attack/

    The Japanese believe the Biden Administration has telegraphed a message of weakness to the terrorists of the World (go figure!) AFAICT this warning is specifically in reference to the possibility of suicide bombers.

  15. Rubio calls on Biden to fire Milley after book claims general sought to undermine Trump

    https://www.foxnews.com/politics/rubio-calls-fire-milley-book-claims

    This is beginning to make noise with the Right. Milley unilaterally contacted the ChiComs, but also plotted with Schumer and Pelosi, and assumed a command posture with the NMCC, “ordering” them to not to take orders from anyone but him (the Chairman of the Joint Chiefs is the Military Advisor to the President, and essentially cedes his(her) rank for the time served as CJC.)

    Woodward’s book is here: https://www.amazon.com/Peril-Bob-Woodward/dp/1982182911

    I shan’t buy it new, but I will read it, and if Woodward’s allegations WRT Milley’s actions can be substantiated, Milley should be convicted of treason.

  16. DR. ANTHONY FAUCI: “IT MAY TAKE “MANY MANY” MORE VACCINE MANDATES”
    (BEFORE THE RULERS END THE SCAM)

    In fact, according to CNN, Fauci said that millions of Americans still need to get vaccinated to slow or stop the spread of Covid-19, and getting the pandemic under control could take “many, many” more vaccine mandates.

    https://www.shtfplan.com/headline-news/dr-anthony-fauci-it-may-take-many-many-more-vaccine-mandates-before-the-rulers-end-the-scam

    IMO Mac Slavo is getting POd about all the COVID politics. This reads like some of George’s readership could’ve authored it.

  17. Evergrande Denies Rumors Of Bankruptcy As Crisis Boils Over, Social Unrest Breaks Out Across China

    https://www.zerohedge.com/economics/evergrande-denies-rumors-bankruptcy-crisis-boils-over-social-unrest-break-out-across

    So, I wonder what happens when the ChiComs’ largest property developer shits a $300 billion goose-egg and goes bankrupt (shortly after their #2 developer goes tango uniform on ~$270 billion…)?

    Actual (not rhetorical) question: How does a communist government deal with massive bankruptcies? Both Evergrande and Huarong are in-play in every market a publicly-traded American developer would be in, so what happens? The folks at Bloomberg (where Tyler Durden got the original writeup for Zerohedge) have no idea, neither does Durden…

    • Ray, for a continued ‘civilized’ world, there is only the ONE choice. Go back and find the minutes to the late Summer ’82 Federal Reserve Meeting presided over by the late Paul Volker.

      Here’s an excellent background leading up to the potential collapse of the West’s banking system…

      https://www.cambridge.org/core/journals/revista-de-historia-economica-journal-of-iberian-and-latin-american-economic-history/article/fatal-flaw-domestic-banks-and-mexicos-international-negotiating-position-in-the-1982-debt-crisis/F12F4DF13BDA3B2421C382FC6F4FFC40

      So, Paul gather’s every banker around the table and says, “Loan ’em MORE.” i.e. Kick the can down the road as long as we can.

      By the way, 8/12/1982 was day 1 of the current US bull market !!! Hint: … wait for it :)

      • Thanks. Downloaded and saved, and I appreciate it.

        My question though: Is the money game played the same way when it is the State itself who’s defaulting? THAT’S the question which even Bloomberg’s Asian “staff experts” couldn’t answer…

        In China, everything is either State-owned (communist) or Private-State partnership (fascist.) Neither Mussolini nor Hitler lasted long enough to establish an historical, financial working precedent on defaults. Lenin/Stalin/Mao ran their economies in secret, so of what we DO know regarding the financial workings of the USSR and Mao’s China, we can’t have much veracity WRT the validity of their information or data. We know they lied, and fudged their data, but have no way of knowing how much (kinda like our own “official” data, now. Thanks to people like John Williams and our host, we can guess and still be in the ballpark. With the commies, we can’t even do that.)

        The most we know is the Chinese don’t tolerate massive failure, and as with Huarong, the people at the top of Evergrande WILL be executed. Such a policy encourages good performance, but unfortunately, at the same time eliminates the prime source for data and information regarding the company’s bankruptcy and resolution…

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