The democRATs seem to want to spend us into a Cloward-Piven economic collapse. And the more ridiculous the thing that money is squandered on the better. They are waiting to “Build Back Better” under marxism, but unfortunately the collapse did not happen soon enough for Pedo Joe to lead us to our glorious future as play things for the leftist elites.
James Howard Kunstler ping
Defunding the left. FULL SPEED AHEAD!
If crisis awaits, it’s probably lurking in the financial realm, where the operations of debt have put nearly every country on Gawd’s Green Earth behind the eight-ball. There is just too much of it that everybody knows can’t possibly be paid back — or soon even serviced — and the grand managers of these matters are finally out of tricks for pretending things can go on.....SNIP
Yep! The piper must be paid sooner or later and it’ll probably happen on Trumps watch.
On the subject of the debt:
1) You can’t pay it back.
2) You can’t not pay it back (You can’t default).
One of these statements is untrue.
Yes, you can inflate the currency so much that paying $33T can be done with pocket change.
Or, you can screw the Central Bankers and jump out their rigged global economy and just start over.
We do have choices — but we are going to have to do one of the things that “you can’t do”.
Thank you for posting.
I like the line, “Capitalism is simply the management of surplus wealth.”
It draws the obvious, “Communism is the management of surplus poverty.”
“It’s had no benefit for anybody but the Raytheon war lobby and the Zelensky regime’s legion of grifters.”
A silly statement. The major beneficiary of the Ukraine-Russia war is the Chinese Communist Party.
To ignore this obvious fact shows a willingness to avoid reality.
If Trump can turn off all of the free stuff fountains round the world, we will be able to find out who was benefitting from it, and what they were doing with it.
This is a gross simplification: The Pharaohs had surplus wealth, but they managed it by putting in in granaries. They didn't have capitalism.
Capitalism requires a reserve banking system and a high-trust society where contracts are enforced without too much graft or interference by the state. This developed mainly in the Italian city states in the 14th century and then spread to Europe with large financing arranged by letters of credit issued by international banks.
The current situation is somewhat unique: every major economy (the US, China, Europe, Japan) uses fiat currencies and is in debt up their eyeballs. You would think the US dollar would depreciate but it does not because everyone else is also borrowing like there's no tomorrow, so you have mutual depreciation and worldwide inflation.
And the inflation doesn't become hyperinflation because of the unparalleled ability of the central banks to soak up liquidity by raising interest rates. It's a very strange situation.
I've seen comments by Bessent about a return to gold, but that would require a drastic revaluation of the dollar and probably a severe haircut for US bondholders.
<>Now, the Democratic Party . . . is constructed as a gigantic grift machine.<>
President Trump cut off their funding. Today.
Heh, heh.