Inflation Economics: Some Useful Historical Data For The American Consumer
The rude awakening over the past year of increasingly high food and gas prices has been quite the shock for the American consumer. The U.S. Federal Government and Federal Reserve Bank’s sluggish reaction to growing consumer price inflation certainly have not helped. If history is to be our guide, there is more pain to come.
The data listed in the tables and charts below should be useful to anyone wishing to get a better grip on their finances in order to weather the inflationary storm over the next few years. Yes, years, not days, not months.
Pay close attention to the transition years between the Carter Administration and the Reagan Administration(1976-1984). Inflation decreased during the Reagan Administration. Thus, as the data indicates, changes in economic policy decisions take time to fully kick in.
Year, Inflation Rate, Fed Funds Rate, Business Cycle, Events
Of what a hideous progeny is Debt the father! What lies, what madness, what invasions of self-respect, what cares, what double dealing! How in due season it will carve the frank, open face into wrinkles; how like a knife it will stab the honest heart!
The Tulip Folly, by Jean-Léon Gérôme, 1882. A nobleman guards an exceptional bloom as soldiers trample flowerbeds in a vain attempt to stabilise the tulip market by limiting the supply.
Mark Zuckerberg has become the poster boy of modern Tulip mania. It is not clear as to whether or not he is [...] Read more →
4 November 2021; Alex Mashinsky, Celcius, on Centre Stage during day three of Web Summit 2021 at the Altice Arena in Lisbon, Portugal. Photo by Piaras Ó Mídheach/Web Summit via Sportsfile
Ponzi schemes and MLM schemes are by design corrupt. They are designed to confuse and or hoodwink the investor or participant into believing he is buying into a surefire road to riches.
When a computer programmer designs and programs a computer program, or in the case of the crypto-world, a [...] Read more →
Are you dissatisfied with the Savings Account and CD Interest Rates your bank currently has on offer?
If so, go to https://www.treasurydirect.gov and open an account. The U.S. Government’s iBonds are currently earning 9.62% interest through October of this year.
Individuals may purchase $10,000 worth of iBonds per [...] Read more →
The rude awakening over the past year of increasingly high food and gas prices has been quite the shock for the American consumer. The U.S. Federal Government and Federal Reserve Bank’s sluggish reaction to growing consumer price inflation certainly have not helped. If history is to be our guide, there is more [...] Read more →
Listening to MicroStrategy CEO Saylor’s naive proclamations about Bitcoin on MSBC this morning remind me of why stupid people go broke faster.
MicroStrategy—a money losing business software developer that trades under Ticker MSTR—is currently trading for an inflated price of around $168 per share. This share price could soon collapse. [...] Read more →
Propaganda is generally what is being passed off for news these days.
It comes from all perspectives; progressive, conservative, and marginal extremes.
Understanding the language of propaganda is necessary to enable one to quickly filter out articles written with persuasive goals as their ultimate objective. Any article that [...] Read more →
“Energy prices are set by global commodity prices …” Federal Reserve Chairman Powell June 15th, 2022
What follows is President Joe Biden’s delusional letter to oil company executives. I have added commentary to address the delusion. My comments are highlighted in yellow and parenthesis.
FEDERAL TRADE COMMISSION16 CFR Part 23Guides for the Jewelry, PreciousMetals, and Pewter Industries
The US Government has laws guiding the business practices of the Jewelry and Precious Metals Industries. If you are unclear as a seller as to your obligations under the law as related to any [...] Read more →
EBay is rife with fake gemstone sellers. But they are not alone. Other gemstone auction sites such as Gem Rock Auctions, and others host shifty peddlers, often unbeknownst to a few oblivious site owners. Although some sites claim to police the legitimacy of their sales, buying gemstones online will always carry risk. [...] Read more →
Seems everybody owns one these days from the local banker, barber, car barker and even the occasional newspaper delivery boy. Heck, we would assert that the newspaper delivery boy is indeed much more rare than that Rolex Submariner on his wrist.
It might surprise the watch buying public to learn that Rolex watches are mass produced.
In fact, millions of Rolex watches have been manufactured since 1929 when Hans Wilsdorf and Alfred Davis established the Wisdorf and Davis company in London, England in 1905. The name Rolex was registered in 1908 [...] Read more →
A Satire of Tulip Mania by Jan Brueghel the Younger (ca. 1640) depicts speculators as brainless monkeys in contemporary upper-class dress. In a commentary on the economic folly, one monkey urinates on the previously valuable plants, others appear in debtor’s court and one is carried to the grave.
Max Ernst – Photo from the Dutch National Archives
Art fraud on eBay is rampant. Whether intentional or unintentional on the seller’s part, fake art remains fake art.
Lately, a seller going by the moniker gallery83fineart has an amazing collection of Max Ernst prints or photographs that are apparently signed [...] Read more →
A rose-cut synthetic diamond created by Apollo Diamond using a patented chemical vapour deposition process.
The much overused word, sustainability, has been seared into the hearts and minds of Millennials and Generation Z. Using that word, the two groups have been duped into believing some amazing myths. Among those are that [...] Read more →
There once was a man who sold the Brooklyn Bridge(three times), Madison Square Garden, and The Metropolitan Museum of Art, Grant’s Tomb, and the Statue of Liberty to unsuspecting immigrants landing in New York City seeking out the American Dream. The salesman’s name was George C. Parker. [...] Read more →
Prisons as places of detention are very ancient institutions. As soon as men had learned the way to build, in stone, as in Egypt, or with bricks, as in Mesopotamia, when kings had many-towered fortresses, and the great barons castles [...] Read more →
Country House Essays, the book is now in print. This is an eclectic collection of both original, and historical essays, poems, books, and articles created for our loyal reader hear at CountryHouseEssays.com. It is jam packed with reprints of articles from this website. The cost is $49.95 for this massive [...] Read more →
Although the light of nature, and the works of creation and providence, do so far manifest the goodness, wisdom, and power of God, as to leave men inexcusable; yet are they not sufficient to give that knowledge of God, and of his will, which is necessary [...] Read more →
Harvey Wiley, Chief Chemist of the Department of Agriculture’s Division of Chemistry (third from the right) with his staff, not long after he joined the division in 1883. Wiley’s scientific expertise and political skills were a key to passage of the 1906 Food and Drugs Act and the creation of the FDA.
“Saint John’s Gate, Clerkenwell, the main gateway to the Priory of Saint John of Jerusalem,” black and white photograph by the British photographer Henry Dixon, 1880. The church was founded in the 12th century by Jordan de Briset, a Norman knight. Prior Docwra completed the gatehouse shown in this photograph in 1504. The gateway [...] Read more →
The University of Tennessee in Knoxville, Tennessee has a long heralded tradition of assisting farmers and growers through it’s Agricultural Extension Service. The following bulletin entitled Grape Growing in Tennessee discusses the Muscadine variety of grapes among others. Muscadine grapes are often found growing wild in Tennessee. On my grandfather’s West Tennessee [...] Read more →
Resolution adapted at the New Orleans Convention of the American Institute of Banking, October 9, 1919:
“Ours is an educational association organized for the benefit of the banking fraternity of the country and within our membership may be found on an equal basis both employees and employers; and in full appreciation [...] Read more →
Reprinted from FineModelShips.com with the kind permission of Dr. Michael Czytko
The SAN FELIPE is one of the most favoured ships among the ship model builders. The model is elegant, very beautifully designed, and makes a decorative piece of art to be displayed at home or in [...] Read more →
By the death of Mr. Scarth on the 5th of April, at Tangier, where he had gone for his health’s sake, the familiar form of an old and much valued Member of the Institute has passed away. Harry Mengden Scarth was bron at Staindrop in Durham, [...] Read more →
A Lecture Delivered at the Guildhall, March 2, 1853 by Rev. H.M. Scarth, M.A., Rector of Bathwick.
To understand the ancient history of the country in which we live, to know something of the arts and manners of the people who have preceded us, to ascertain what we owe to [...] Read more →
Eadweard Muybridge was a fascinating character. Click here to learn how Eadweard committed “Justifiable Homicide” after shooting his wife’s lover in 1874.
The arsenicals (compounds which contain the heavy metal element arsenic, As) have a long history of use in man – with both benevolent and malevolent intent. The name ‘arsenic’ is derived from the Greek word ‘arsenikon’ which means ‘potent'”. As early as 2000 BC, arsenic trioxide, obtained from smelting copper, was used [...] Read more →
Photo Caption: The Marquis of Zetland, KC, PC – otherwise known as Lawrence Dundas Son of: John Charles Dundas and: Margaret Matilda Talbot born: Friday 16 August 1844 died: Monday 11 March 1929 at Aske Hall Occupation: M.P. for Richmond Viceroy of Ireland Vice Lord Lieutenant of North Yorkshire Lord – in – Waiting [...] Read more →
Resolution adapted at the New Orleans Convention of the American Institute of Banking, October 9, 1919:
“Ours is an educational association organized for the benefit of the banking fraternity of the country and within our membership may be found on an equal basis both employees and employers; and in full appreciation [...] Read more →
St. Valentine kneeling in supplication – 1677 by David Teniers III
There is nothing more delightful than a great poetry reading to warm ones heart on a cold winter night fireside. Today is one of the coldest Valentine’s days on record, thus, nothing could be better than listening to [...] Read more →
Max Ernst – Photo from the Dutch National Archives
Art fraud on eBay is rampant. Whether intentional or unintentional on the seller’s part, fake art remains fake art.
Lately, a seller going by the moniker gallery83fineart has an amazing collection of Max Ernst prints or photographs that are apparently signed [...] Read more →
Gold or silver watch chains can be cleaned with a very excellent result, no matter whether they may be matt or polished, by laying them for a few seconds in pure aqua ammonia; they are then rinsed in alcohol, and finally. shaken in clean sawdust, free from sand. [...] Read more →
The following research discussion is from a study funded by the U.S. National Institute of Health entitled: Boschniakia rossica prevents the carbon tetrachloride-induced hepatotoxicity in rat. It may be of interest to heavy drinkers.
Have you ever wondered just how a Franklin Library Book is put together?
Franklin Library, a division of the Franklin Mint, as many a book collector can attest, was considered the equivalent of the Cadillac division of GM in the modern 20th Century book market. They put out [...] Read more →
THE VALUE OF EVEN TEMPER IN ATHLETICS—SOME OF THE FEATS THAT REQUIRE GOOD NATURE
In the writer’s opinion it becomes necessary to make at this point some suggestions relative to a very important part of the training in jiu-jitsu. Good nature is as essential [...] Read more →
Como dome facade – Pliny the Elder – Photo by Wolfgang Sauber
Work in Progress…
THE VARNISHES.
Every substance may be considered as a varnish, which, when applied to the surface of a solid body, gives it a permanent lustre. Drying oil, thickened by exposure to the sun’s heat or [...] Read more →
Half a league, half a league, Half a league onward, All in the valley of Death Rode the six hundred. “Forward, the Light Brigade! Charge for the guns!” he said. Into the valley of Death Rode the six hundred. Home Top of Pg. Archives [...] Read more →
4 November 2021; Alex Mashinsky, Celcius, on Centre Stage during day three of Web Summit 2021 at the Altice Arena in Lisbon, Portugal. Photo by Piaras Ó Mídheach/Web Summit via Sportsfile
FEDERAL TRADE COMMISSION16 CFR Part 23Guides for the Jewelry, PreciousMetals, and Pewter Industries
The US Government has laws guiding the business practices of the Jewelry and Precious Metals Industries. If you are unclear as a seller as to your obligations under the law as related to any [...] Read more →
The element copper effectively kills viruses and bacteria.
Therefore it would reason and I will assert and not only assert but lay claim to the patents for copper mesh stints to be inserted in the arteries of patients presenting with severe cases of Covid-19 with a slow release dosage of [...] Read more →
Salmon caviar was originated about 1910 by a fisherman in the Maritime Provinces of Siberia, and the preparation is a modification of the sturgeon caviar method (Cobb 1919). Salomon caviar has found a good market in the U.S.S.R. and other European countries where it [...] Read more →
Listening to MicroStrategy CEO Saylor’s naive proclamations about Bitcoin on MSBC this morning remind me of why stupid people go broke faster.
MicroStrategy—a money losing business software developer that trades under Ticker MSTR—is currently trading for an inflated price of around $168 per share. This share price could soon collapse. [...] Read more →
Propaganda is generally what is being passed off for news these days.
It comes from all perspectives; progressive, conservative, and marginal extremes.
Understanding the language of propaganda is necessary to enable one to quickly filter out articles written with persuasive goals as their ultimate objective. Any article that [...] Read more →
Reprinted from FineModelShips.com with the kind permission of Dr. Michael Czytko
The SAN FELIPE is one of the most favoured ships among the ship model builders. The model is elegant, very beautifully designed, and makes a decorative piece of art to be displayed at home or in [...] Read more →
Of the making of books about Napoleon there is no end, and the centenary of his death (May 5) is not likely to pass without adding to the number, but a volume on Napoleon”s pharmacists still awaits treatment by the student in this field of historical research. There [...] Read more →
Quite possibly, the most agonizing decision being made by Baby Boomers across the nation these days is what to do with all that vintage Hi-fi equipment and boxes full of classic rock and roll cassettes and 8-Tracks.
I faced this dilemma head-on this past summer as I definitely wanted in [...] Read more →
“Energy prices are set by global commodity prices …” Federal Reserve Chairman Powell June 15th, 2022
What follows is President Joe Biden’s delusional letter to oil company executives. I have added commentary to address the delusion. My comments are highlighted in yellow and parenthesis.
Grapes are the world’s leading fruit crop and the eighth most important food crop in the world, exceeded only by the principal cereals and starchytubers. Though substantial quantities are used for fresh fruit, raisins, juice and preserves, most of the world’s annual production of about 60 million [...] Read more →
The rude awakening over the past year of increasingly high food and gas prices has been quite the shock for the American consumer. The U.S. Federal Government and Federal Reserve Bank’s sluggish reaction to growing consumer price inflation certainly have not helped. If history is to be our guide, there is more [...] Read more →
Felix Weihs de Weldon, age 96, died broke in the year 2003 after successive bankruptcies and accumulating $4 million dollars worth of debt. Most of the debt was related to the high cost of love for a wife living with Alzheimer’s. Health care [...] Read more →
Harvey Wiley, Chief Chemist of the Department of Agriculture’s Division of Chemistry (third from the right) with his staff, not long after he joined the division in 1883. Wiley’s scientific expertise and political skills were a key to passage of the 1906 Food and Drugs Act and the creation of the FDA.
Ripping up and replacing a tiled floor is a daunting and expensive task, especially should one live in a fully furnished house full of antique furniture. An alternative is to hand paint the tiles which can save thousands of dollars in furniture removal, storage expenses and labor costs. Let’s not [...] Read more →
The following are transcripts of two letters written by the Founding Father Thomas Jefferson on the subject of seed saving.
“November 27, 1818. Monticello. Thomas Jefferson to Henry E. Watkins, transmitting succory seed and outlining the culture of succory.” [Transcript] Thomas Jefferson Correspondence Collection Collection 89
Kneller was born in Lubeck, studied with Rembrandt in Amsterdam and by 1676 was working in England as a fashionable portrait painter. He painted seven British monarchs (Charles II, James II, William III, Mary II, Anne, George I and George II), though his [...] Read more →
The following cure was found written on a front flyleaf in an 1811 3rd Ed. copy of The Sportsman’s Guide or Sportsman’s Companion: Containing Every Possible Instruction for the Juvenille Shooter, Together with Information Necessary for the Experienced Sportsman by B. Thomas.
Notes on the intaglio processes of the most expensive book on birds available for sale in the world today.
The Audubon prints in “The Birds of America” were all made from copper plates utilizing four of the so called “intaglio” processes, engraving, etching, aquatint, and drypoint. Intaglio processes [...] Read more →
Four times the nuptial bed she warm’d, And every time so well perform’d, That when death spoil’d each husband’s billing, He left the widow every shilling. Fond was the dame, but not dejected; Five stately mansions she erected With more than royal pomp, to vary The prison of her captive When Hardwicke’s towers shall bow [...] Read more →
There are strange things done in the midnight sun By the men who moil for gold; The Arctic trails have their secret tales That would make your blood run cold; The Northern Lights have seen queer sights, But the queerest they ever did see Was that night [...] Read more →
A Satire of Tulip Mania by Jan Brueghel the Younger (ca. 1640) depicts speculators as brainless monkeys in contemporary upper-class dress. In a commentary on the economic folly, one monkey urinates on the previously valuable plants, others appear in debtor’s court and one is carried to the grave.
THE transient tenure that most of us have in our dwellings, and the absorbing nature of the struggle that most of us have to make to win the necessary provisions of life, prevent our encouraging the manufacture of well-wrought furniture.
We mean to outgrow our houses—our lease expires after [...] Read more →
