What happens to the money the feds tax away from the elite? Where does it go? Back to its rightful owners? Does it boost working-class wages?
In America today, it is almost impossible — politically — to cut government spending or to raise taxes. That leaves debt as the only way forward.
Government, always and everywhere, is a way for the few to exploit the many. Modern democracy depends as much on fraud as force. Elite conquerors pretend to respond to the ‘will of the people.’
The US government funded the boom of the last 30 years with debt — which increased, year after year, 2-4 times faster than the GDP needed to pay it.
It took them months to admit what was already obvious to most of the population. That is, that the economic ‘slowdown’ was in fact a full-blown crisis.
Stocks advanced a little yesterday. Investors were said to be hopeful about the upcoming trade talks with the Chinese. With a little luck, President Trump will talk to Chinese President … Read More
This is a time to prepare. The market and the Fed may be playing a game of chicken. But they are also still heading for the edge of the cliff.
Both Trump and Powell will do all they can to save this market. Both are avoiding a bloodbath because the blood will splatter on their own white shirts.
Well, we were wrong. We figured the Fed would pause now. Instead, it went ahead with its rate hike and suggested it would pause in 2019.
We were waiting for the big Fed announcement on a rate hike. But what happened? No trumpets. No bells. No heralds. None came.
Central banks have no economic magic. No financial panaceas. No money miracles. They can’t really make an economy run better.
Come the next crisis, our problems will intensify. Tax revenues will plummet. Deficits will grow to $2 trillion a year in 2019 or 2020.
We have a bubble economy, not an economy on a solid footing of rising wages, productivity, sales, and profits. The boom we have enjoyed is largely fake.
Trump will do whatever he can to keep prices rising on Wall Street — by talking up the economy with his usual mixture of real bravura and counterfeit facts.