U.S. Q3 productivity fell 5.2%, the biggest quarterly drop in 62 years, as unit labor costs surged 9.6%. Rising labor productivity is the only way real wages can rise. Nominal wage gains will lag far behind soaring consumer prices. The worst #inflation in U.S. history has begun!
They printed TRILLIONS of dollars and told you there is no inflation. Meanwhile, the millionaire politicians and central bankers were day trading inflating asset prices to increase their wealth. Unreal.
June #CPI spiked .9%, the most in 13 years. The CPI is up 3.7% in the 1st half of the year. At this rate it will jump by 7.5% in 2021. YOY Core CPI spiked 5.4%, the most in 30 years. YOY goods prices jumped 8.7%, the most in 40 years. Used car and truck prices rose the most ever.
Yep, in the next two decades you might get 3 people to Mars and it would be an amazing technical achievement.
Right now #bitcoin can help 8 billion people, half living under authoritarianism… it represents hope to them yet you attack it.
BANKS SAY THEIR WEALTHY CLIENTS ARE BORROWING MORE THAN EVER BEFORE, OFTEN USING LOANS BACKED BY THEIR PORTFOLIOS OF STOCKS AND BONDS. - WSJ
When people say central banks don't create wealth inequality... they are in absolute denial.
When Ross will come out he will find a completely different world.. one where users have hardware wallets and have different flavour of full nodes and connect to satellites and have Bitcoin mines on volcanoes.
It will be a dream come true for him.
Looking forward to that day.
Congrats to Argentina for winning Copa America today, Lionel Messi's first. I've been a huge fan of Messi since 2004 and his early days at Barcelona & Argentina. At that time, and for years since, he played the most beautiful football I have ever seen, and may ever see.
"The only thing we have to fear is fear itself." - FDR
This applies today too, especially during a pandemic.
Fear can be used by politicians and institutions to control the masses, to control speech, to control thought.
Forget fear. Let's focus on solutions.
It used to take 3 years salary, to buy a home, now it takes 5 years salary just for the deposit.
There are criminals at work.
#hodloncomrades don't trade #bitcoin
Amazing match-ups this weekend:
England vs Italy - UEFA Euro final
Argentina vs Brazil - Copa America final
McGregor vs Poirier - UFC
I have high hopes for these. The world will be watching.