Closing Thought–07Nov22

A short trip down nostalgic lane.

Drive-In movies!

Us old farts have some fond memories of the days of drive-in movies.

I remember the weekend nights when I would take that special girl to the movies and we spent much of the time playing tonsil tennis and occasionally getting our freak on.

Days of our youth….gone but not forgotten.

My area saw its last drive-in demolished in 1978….a sad day indeed.

Then just last week news hit my region….a new drive-in will return to the Coast.

Those who remember going to one of the many drive-in movies in South Mississippi are about to get a piece of their childhood back. John Watzke is still kicking around names for his drive-in theater as his crews work to clear the lot along U.S. 90 in Hancock County. It’s next to Shady Acres RV Park and about 1,000 feet west of the big Silver Slipper sign, on the north side of the highway. Watzke said this will be the only drive-in movies in Mississippi and Louisiana, other than one family-owned operation in far northeast Mississippi near the Alabama and Tennessee border. The last one in South Mississippi closed in 1978, he said.

He plans to build in two phases in Hancock County, with the first screen and parking for 275 cars on the south side of the property. He’s working to get that open by Mardi Gras. Another screen will built on the north side on the property and open about a year later in early 2024, he said.

Read more at: https://www.sunherald.com/entertainment/article268283827.html#storylink=cpy

I am too old to try and rekindle the joys I found in the back seat of my on those weekend nights.

I realize this may not be much interest to many but for me it is a big deal.

I Read, I Write, You Know

“lego ergo scribo”

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Inflation–How Did It Come To This?

Tomorrow we go to our polling stations and cast our votes for the ‘future’ of this nation.

We are told by the MSM that the most important issue of this election is the economy more specifically rising inflation…..watching the events and the sounds around this election I do not agree that it will be the deciding factor.

If that is true why has seemingly no one explained how it came to this.

One side blames Biden for the disaster of the economy and the other side blames…well whatever is the most convenient…..but just what or who brought us to this moment in our election process?

One of the culprits for this crisis is being dropped at the feet of the Fed.

The Federal Reserve has made two major policy blunders in the last 25 years. 

The first was being unaware that the foundation of the U.S. banking system had been eroded away by complex mortgage securities that carried high credit ratings but turned out to be toxic during a broad housing downturn. The resulting meltdown in valuations caused the global financial crisis in 2008 that hobbled the U.S. economy for years.

More recently, a misreading of the strength of the labor market and the persistence of price shocks sparked by the pandemic led to the highest inflation rate in 40 years and the final chapter of this saga is still to be written. The policy error paved the way to make 2022 the worst year in financial markets arguably since the 1930s. Both stocks and bonds have plummeted and Federal Reserve Chairman Jerome “Jay” Powell is at the center of the financial turmoil, landing him on the MarketWatch 50 list of the most influential people in markets

Critics have pounced on the Fed. Powell’s insistence that rising inflation was “transitory” and would quickly dissipate once the economy reopened more fully has been called “probably the worst inflation call in Fed history” by Mohamed El-Erian, chief economic adviser for Allianz. The economist Stephen Roach has compared Powell to former Fed chair Arthur Burns, whose indecisiveness under intense political pressure led to the crushing inflation of the 1970s. As recently as March 2022, when the Labor Department was reporting a 7.9% annual rise in consumer prices, Powell and the Fed were just wrapping up their injections of liquidity into financial markets.

How Powell, who is not a trained economist, is ultimately remembered will depend on whether he’s able to tame inflation without driving the U.S. into a deep recession. It could still all end relatively well, but the debate about what signs the U.S. central bank ignored and why will be studied and debated for years to come.

https://www.marketwatch.com/story/why-did-inflation-surge-to-a-40-year-high-here-are-4-causes-of-the-worst-monetary-policy-mistake-in-years-11667318263

I tried last week to help fill in the gaps in our knowledge of inflation and even included some ‘solutions’ given by some in the GOP….

It’s Election Time–It’s Inflation

If you want to help this country then please consider all angles….do not just vote for pasty faced old white guy….for their solutions are antiquated and not going to actually help in the 21st century.

Please take the time to vote.

I Read, I Write, You Know

“lego ergo scribo”