Last week, we were looking at who pays unpayable federal debt. As we studied the subject, a whirlwind of staggering news blew up.
This week, we’ve been exploring the age-old question: Who pays unpayable debt? The borrower?The lender? Someone else?
Show us the politician who wins the White House by promising to cut the voters’ benefits, raise their taxes, and end military boondoggles all over the planet? He doesn’t exist.
Still no visible crack in the stock market. But the economy may be breaking down. First, there is growing recognition that the Obama/Trump recovery has been a flop.
And now, the runaway train gathers speed. The federal deficit was $587 billion in Obama’s last year. Mr. Trump’s budget increases it to $1 trillion.
Some say capitalism has failed America. More likely, America has failed capitalism. Capitalism needs capital. Real money, in other words. The feds gave it fake money.
Already, America’s medical system — 17% of the economy — is largely socialised. So is the education system — another 7.3%. And don’t forget Social Security.
Our advice to 11-year-olds: The US markets may repeat the experience of the last 77 years; but we wouldn’t bet on it. It really is a new ball game.
The federal government is already adding $100 billion a month to its debt — and we’re still in a boom. And it won’t be long before the boom ends.
Yes, there is an ‘us versus them’ that is real. But it’s got nothing to do with Republicans – Democrats, Black – White, Protestant – Catholic, US – Mexico.
Tax revenues, deficits, negative interest rates — it all goes to the same place: wherever the Deep State deciders want it to go.
I’m in New Plymouth, on the west coast of the North Island of New Zealand (NZ). The bolthole search continues. You’ll find more on that below.
Top macroeconomists are calling for a recession ‘before the end of 2020.’ What? We’ve already been waiting for years…
Americans are now among the most heavily policed people in the advanced world. There were three federal crimes in 1789; there are more than 4,000 today.