40,000 people know what’s going on. It may seem like a lot, but in a country of 330,000,000 people, its a drop in the bucket. That’s the number of people that see a typical Keiser Report video. They have 4.3 million subscribers. In this episode Max takes a look at how in the coming era of hyper inflation, what we experienced in the late 70’s is not happening this time.
In the Jimmy Carter years of the late 1970’s when inflation ruled the roost, traditional economic principles prevailed. One being wages had to go up. That’s not the case now. Another aspect is interest paid to savers. Back then 8% on a certificate of deposit was typical. You may have been getting charged 13% on a home loan, but at least you got paid real money on a CD. That’s no longer the case, the banks use your money for free. Back then 3.5% – 4.5% on a simple savings account was typical.
Now neither a CD or a savings account goes above 1%.
Max is able to put the “why” to what is happening. A lot of people lately have been wanting to use the simplistic comparison of the Biden administration to that of the Carter era. But that as Max explains is completely missing what is going on. The rules have changed. Economic law used to be in charge, it isn’t now.
He loses me on the particulars. But its exactly what I’ve been saying for years. You can only ‘fudge’ it for so long. You can pretend there’s a new paradigm, but eventually the piper has to be paid. As an example Indian culture used to highly value gold as a personal store of wealth. Its now bitcoin. El Salvador is abandoning the idea of the dollar as the global reserve currency. Ditto for Russia.
Max uses supply shortages as evidence of what is really going on when they can no longer mask the effects of their money printing. Lumber, microchips, car parts, those products that tell the man on the street something is going on. All of this is economic gobble-dy-gook, until you can’t get your house built or your car fixed, then it becomes real.
Another interesting point he had was tying the political into the economic: ‘woke-ism’. All this societal distraction of transgenderism, BLM, defunding cops, Antifa, Trump prosecutions, the cancel culture for Tweeting the wrong Tweet 10 years ago. Its all a distraction and a disguise so that the people don’t focus on what has been going on. So that blame is never assessed to the guilty.
As he said towards the end, it may manifest in its death throes as a civil war, or as a world war. Me and 40K other people have an idea what’s coming, too bad more people didn’t, we might have averted the pain.