The Max Kaiser. This is the kaiser report. The word of the day is magnitudes. Lets find out whats happening, stacy. Yes, we need to take a step back and look at the magnitudes. This is coming up in a tweet im going to read, but i also want to remind you that this is the week that set in motion the end of bretton woods right. August 15th, which was a sunday, 971. 00. President nixon went on to live television in America Sunday Evening and announce they were basically closing the Gold Window temporarily. They said, and then on monday, the 16th it came into effect. But on August 15th he announced that. And now here we are, 50 years later, similar situation Sunday Night as August 15th, the 16th is that monday. Who knows what might be in store for us. Maybe theyre going to close. You know, i, lets call the Camp David Window, right. Like because we have bretton woods up until 971. Then since then we had kept david essentially nixon close a Gold Window. They had organized that from camp david
Health passes for more public places like bars and restaurants and privacy activists. Take a bite out of apple over the tech giants controversial plans to start scanning the files of users for Child Port closer World News headlines for this hour. Thanks a lot for watching and we hope to see you again soon. The max ties remember. Oh man, like 3 years ago, every year since then ive been saying that. Yeah, of course wages in america goinG Down, but prices from stuff important from china goinG Down more. So the quality of life in america doesnt seem like its getting worse because those flat Screen Tv and closer. So cheap. And then i said, you know what, some day thats going to reverse. Ok, and lets check in with stacy max. We have gone through the looking glass. Remember when the red queen said to alice that you have to run faster and faster just to stay in the same place. She said, in fact, my dear here, we must run as fast as we can just to stay in place. And if you wish to go anywhere,
Etc. But without stimulus payments, unemployment payments and other transfer payments from the government and all of it adjusted for inflation was still below where it had been in february 2020. According to the bureau of economic analysis. This is a function of how many people are earning money and higher wages and higher income from rental properties, etc. But inflation is the insidious Counter Force adjusted for inflation. Real personal income without transfer payments hasnt improved much. And a recent months, despite many more people getting back to work, and despite higher wages, because inflation eat up the increase and aggregate income. And here note the pre Pandemic Trend Line max. This is green. This is real personal income. And as you say, a dove during the beginning, early stages of the pandemic, unlocked downs, and its still blow trend. Right . So were right again, as we were saying, shipping, all of our jobs and factors to china was a bad idea. But the american people were
Remember when the red queen said to alice that you have to run faster and faster just to stay in the same place. She said, in fact, my dear here, we must run as fast as we can just to stay in place. And if you wish to go anywhere, you must run twice as fast as that. So 50 years of the out. Were looking at the headlines today. And it looks like were straight back to where we started at the 970 stagflation, right . Because people made heroic efforts to spend inflation 8 their lunch, says Wall Street Dot com. The big shift from durable goods to services is underway. This is all in the latest data coming out of government agencies. Real, inflation adjusted personal income without transfer payments, personal income, including income, from interest, dividends, rental property, etc. But without stimulus payments, unemployment payments and other transfer payments from the government. And all of it adjusted for inflation was still below where it had been in february 2020, according to the burea
In america doesnt seem like its getting worse because the flat Screen Tv and closer. So cheap. And then i said, you know what, some day thats going to reverse. Ok, lets check in with stacy max. We have gone through the looking glass. Remember when the red queen said to alice that you have to run faster and faster just to stay in the same place. She said, in fact, my dear here, we must run as fast as we can just to stay in place. And if you wish to go anywhere, you must run twice as fast as that. So 50 years of the out. Were looking at the headlines today. And it looks like were straight back to where we started at the 1970 stagflation, right . Because people made heroic efforts to spend inflation 8 their lunch, says Wall Street Dot com. The big shift from durable goods to services is underway. This is all in the latest data coming out of government agencies. Real, inflation adjusted personal income without transfer payments, personal income, including income, from interest, dividends,