Posted on 04/05/2025 4:49:17 AM PDT by hardspunned
“ How could the Dow climb like this as our national debt skyrocketed and our middle class started to fall farther and farther behind?”
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Because that is part and parcel of how our monetary system has been manipulated to work. Not all of that money that the Fed creates because of government deficits (because the Fed has to buy the bonds from the treasury department) goes to welfare recipients, illegal immigrants, and corrupt politicians, most of it actually gets fed into the real estate industry and Wall Street, to give the illusion that the economy is prosperous. Of course, a lot of people who are in on the game make a fortune in the process, that’s always the case; but the essence of our fiat monetary system, unbacked by any assets, is that it is a gigantic Ponzi scheme. It’s all smoke and mirrors, and the meteoric rise in the stock market over the last several decades is just a symptom of the problem.
This is why we need to switch to a Bitcoin standard as quickly as possible. Not that Bitcoin would be used as currency, but that it would be used as the uncorrupt asset backing the creation of all money. Gold was the best that could be used in the pre-digital age, but gold supplies can and are increased literally every single day, and have been continuously since the dawn of history. If the supply of gold increases by 2% per year, then the purchasing power is cut in half in 36 years. That is a whole lot better than any fiat system that has ever been utilized, but it is not perfect. Also, if the price of gold were to suddenly increase 5 or 10 times, there would be a massive increase in the supply of gold over the next several years, because there would be immense profit to further exploit existing mines and to create new ones. Bitcoin, on the other hand, is perfect. It is well known that only 21 million of them will ever be created, and that roughly 96% have already been “mined.” By about 10 years from now, that figure will be 99%, with the remaining one percent being mined gradually over the next 106 years. This will occur regardless of the price of bitcoin, whether it drops to a few thousand dollars each, or goes to several million dollars each.No government, no central authority, no combination of them can change the number of Bitcoin, ever. It is literally incorruptible money, something that humanity has never had, because no one controls it. This is the only solution to what the corruption of mankind has wrought, including the hollowing out of the American economy to the detriment of all except a very few people who have gotten incredibly wealthy and powerful by manipulating this corrupt system.
Free trade has become somewhat of a myth. In this country we encourage monopolies and near monopolies and even have one company that owns the choices of almost all corporations in America. That is the triply entangled Black Rock, Vanguard, and State Street. We have companies that are “Too big to fail,” which are bailed out of their financial woes by government whose legislators and bureaucrats own stock in them. Managed and protected trade is not free trade.
Free markets require lack of monopolies or monopsonies and lack of “externalities” i.e. fingers on the scale, bought of judges and bureaucrats, and regulation favorable to the insiders, and other forms of crony capitalism, which is a form of proto-fascism.
Indeed.👍
The great myth of decimated US manufacturing. Once again we have emotion and hysteria over facts. The US is a powerhouse manufacturing nation. Second only to China who has 4x the population and makes mostly cheap crap. On a per captia basis, the US is the overwhelming leader.
I believe the hysteria is over the number of jobs. They are decreasing but that is because of rising investment and productivity. There is a shrinking amount of good paying unskilled labor jobs. But that is true in every sector of the economy
https://www.cato.org/blog/united-states-remains-manufacturing-powerhouse
And we have this despite our government actively pursuing industrialization by the alphabet agencies. Despite the illiterate and innumerate high schoolers, despite drug use, despite unions, and punitive taxes. Our companies don’t need tariffs they need a government that makes energy abundant and cheap, provides smart workers, efficient infrastructure, stable and common sense enviros and labor laws, and favorable tax policies.
Without the above in place, tariffs will allow our industrial sector to decay producing over priced goods with a unionized workforce and crony owner-government relationships. And there will be less workers in factories then before tariffs. I hope Trump get the rest in place and just not tariffs.
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