I Blame You
In 1884, a Serbian immigrant came to America with 4 cents in savings. The boat that brought him over was filled with similarly poor people, and by the time he docked in Manhattan, some of his valuables and his luggage were stolen.
The 28-year-old did not mind because he came to America to meet with his idol, Mr. Thomas Edison of Edison Machine Works.
At the time, Edison was already five years into his foray into electricity and how his invention of the lamp would be delivered to the masses.
He came up with the idea of direct current, which is a generator that drives electricity in one direction to homes and businesses, but his generators kept failing because the current lost power after traveling a mile.
Edison commissioned Nikola Tesla, the penniless Serbian immigrant, to solve the problem, but Tesla realized direct current wouldn’t work and invented alternating current.
Today, you know AC and DC as the acronyms, but back then, when they were novel inventions, a war broke out between the two camps over which is superior.
George Westinghouse backed Nikola Tesla, who was fired from the company by Thomas Edison after he realized he had met his match. Edison was backed by J.P Morgan, the actual person.
For the next few years, Edison used his major financial backers to disprove AC and show that it is dangerous. He produced a film where he electrocuted a circus elephant and lobbied Congress… but Tesla famously held two brass balls, one in each of his hands, and allowed currents to run through him to prove that AC is reliable.
Today, anything that is not run on a battery is using AC, and we have Nikola Tesla to thank for that.
But Tesla died poor and with mental problems because of the immense propaganda machine that Edison employed against him on many occasions, including the invention of the radio, which Italian-born Marconi only improved but did not invent… the patent is owned by Tesla.
Marketing, brainwashing, and propaganda work until the people wise up.
For years, the CPI numbers were used to gauge inflation, but this propaganda tool, which suppresses inflation numbers, is not credible, and the people know it.
Credibility issues, along with a sleepy president who is obviously incapable of successfully leading a country, let alone the United States of America, have brought about a bloodbath in the markets.
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Yesterday, the CPI numbers for April came out. Again, they came in higher than expected, at 8.3% compared with an expected 8.1%.
Yields spiked, the NASDAQ continued to fall, and we’re all still expecting that inflection point (maybe in June).
The consensus on Wall Street is that inflation has peaked but that it will remain elevated.
Yesterday’s numbers don’t change that narrative, but they do stress that our inflationary world is not deflating.
Demand is still strong, inflation is still high, and real estate is not really stagnating yet.
Like I said on Tuesday, we live in a whole new world.
The reintroduction of inflation into our lives is a major change and might lead to China’s next move to encourage countries to dump dollars and own more yuan, creating a dual-world reserve currency bloc.
Governments Have Amassed ungodly Debt Piles and Have Promised Retirees Unreasonable Amounts of Entitlements, Not In Line with Income Tax Collections. The House of Cards Is Set To Be Worse than 2008! Rising Interest Rates Can Topple The Fiat Monetary Structure, Leaving Investors with Less Than Half of Their Equity Intact!
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