Do we have to become politically correct? – EconomyMorning



Prices are rising and the currency is going badly. Therefore, everything else goes wrong and the world is treading on its head: must we absolutely do the same? According to our colleague Dan Denning, inflation is already very pronounced on financial assets and is picking up speed on the commodities market. It gives some figures for the last 12 months: Wood: + 265% WTI Oil: + 210% Fuel: + 182% Brent Oil: + 163% Oil: + 107% Corn: + 84% Copper: + 83% Soybeans: + 72% Silver: + 65% Sugar: + 59% Cotton: + 54% Natural gas: + 43% Platinum: + 52% Palladium: + 32% Wheat: + 19% Coffee: + 13% Slips and slips not distracting we just frolic on the road to ruin, admiring the good intentions it is paved with. As a reminder, the United States made a disastrous mistake in 1971. Spurred on by economist Milton Friedman and many others, the Nixon administration moved from a more or less “natural” currency – dollars backed by money. gold – to a purely artificial currency, the current paper dollar. Paul Volcker, who was chairman of the Federal Reserve at the time, saved the new monetary system in 1980. It then flourished, peaking around 1999. Since then, the American empire has been sliding and slipping on its way to a kind of ruin. We wonder which path he will take, and how things will be when he reaches his destination. When the money goes bad, everything else follows. The currency regulates and calibrates the relationships between people. One is a debtor, the other is a creditor. One has to use their time to earn money – making themselves available to the other while the other can use their money to get what they want. Strange step As the money apple spoils, the whole social and political crate rots. First things get weird. Then they get downright ugly. We are at the bizarre stage – with foreign new forms of “currency” (cryptos), strange new ways of getting rid of it (NFT potential overvalued stocks 50-year government bonds) and programs and policies new – aid checks, lockdowns – accompanied by a whole new level of good old mismanagement and corruption. Now, business leaders must turn away from their primary objective to focus on “good intentions”. Jamie Dimon, CEO of JPMorgan, says that “the purpose of a business” is no longer simply to provide goods and services for cash. It is to consider “all stakeholders”. Supposedly, results will improve if management takes into account the wishes of non-customers in addition to those who buy the company’s products. ExxonMobil, for example. Shouldn’t it stop extracting oil, out of consideration for those who think the planet is dying? Obviously, cattle operators don’t think of vegetarians: shame on them! Overdue And as far as we are concerned, shouldn’t we be mindful of non-readers and the feelings of those we call “morons”? Shouldn’t we stop saying what we really mean, to say what they want us to say? Idiot, isn’t it? Ah, dear reader, you are as behind on your time as we are. In this new age, we must all pretend to follow the great cause of the moment. Diversity. Equality. Save the planet. Yes, the road is all laid out, and already well paved. The business leader the columnist the TV presenter the politician the neighbor – everyone must walk on eggshells. One misstep and he will be called a negationist and canceled. In this case, we still have some advantages. We have no reputation to lose. We are not a candidate for anything, and we are not trying to attract a large audience. We don’t mind being wrong and it takes a lot to embarrass us. So we continue our way. For more information and advice of this kind, it’s here and it’s free