Bill, I have been a subscriber for quite a while and enjoy everything you write, but I am noticing something. You do not come down on Biden like you did on Trump. Weekly, you reminded us of his insanity and stupidity. I am not sure if you feel sorry for Biden's condition, but we know he is not mentally capable of this. Let us know how you feel about who is actually pushing all this narrative. No mention of his cabinet, insiders, Obama, Clintons. It just seems a little odd, but I will always continue reading.
Bill does us a disservice if he believes we aren't smart enough to see, remember and compare the differences between DJT and DJB (Dimentia Joe Biden) when it comes to his extremely unequal "belittlings"...
Excellent points. My only problem is that I see people driving new cars, filling up their gas tanks and the airports are packed. I live here Southern California. Even when the global bubble is popping there are still a lot of people flush with cash. People are still buying houses. What you say makes sense but the actual behavior on the ground is showing a very concerning lack of awareness. Interesting. Thanks for sharing.
There is a large percentage of "one percenters" in SoCal as well as a large contingent of those living lavishly beyond their means, anointed "privileged class," hucksters, shysters, and well-groomed con men. At least they don't defecate on the sidewalk like thousands of homeless in downtown L.A.
Same here, in good o’l west Texas. People spending like there is no tomorrow. Taking on piles of debt and gambling like fiends! Even low income families (based on geographical locations and house hold city median salary range assessments) are out and about in full throttle spending like Christmas Eve! 😂
I get 3 or 4 offers for a new credit card each week, along with offers (bait) of low, low balance transfer rates, just like last time. Buckle your seat belt and put your head between your legs.
Frequently wrong but never in doubt. Perfect definition for the apparatchiks. A fascist corporatist economy needs its Central Bank like Hunter Biden needs his crack pipe :-)
Oh, and thanks for demonstrating how some people are so invested in their tribal identity that they’re convinced anyone who disagrees with them on a specific point must be aligned with the only other tribe that exists… Dorothy, no tribal alliance on this end.
Exactly what "mess" did Trump leave us in, hmmm? I don't know, inflation almost nil, $2.00 a gallon gas (and that's on the West Coast where it costs more), rising GDP, stable markets (sans the brief Covid nothing-burger interruption). Yeah, times were so hard--NOT!
You keep drinking that Cool-aid. Oh, and we didn't have over a million invaders crashing our border either. Wait til you see your Property Tax bill (assuming you own property) to pay for educating all of these non-citizen illegals. There's a perfect nickname for people like you: CLUELESS.
To continue the flying analogy, which we are maybe living vicariously through Bill, they say pilots are a special breed, classy, professional, safety conscious, and well trained. It does a great disservice to those folks to equate them in any way, to the Fed.
I wondered what the problem was, now I think I know. A chairman, 12 bankers, 400 PhDs and a plethora of others shouldn't be making so many mistakes. The sun is setting and the chickens are heading towards the roost. At least the papers are no longer stressed about filling their pages with something other than Covid. Now is the time for the "gamblers" to check that the fire exits have not been inadvertently locked.
A crypto backed by gold/silver and/or some other commodities will be the ultimate game changer. The central banks will have no answer for this one. They'll have to double down on their old propaganda; only criminals use crypto. Most people now realize the propaganda is complete b.s. The overloads just want to retain their monopoly over the creation of money. With DeFi the apparatchiks will play and endless game of whack a mole trying to shut it down or regulate it. Its not all doom and gloom :-)
Your description of "Junk Bond" is incorrect,. Along time ago (I'm 93 and a CFA) when large companies were on an aquisition binge they used Bonds to finance the aquisitions and these bonds, although issued by large, financially stable companies, were so expensive for the issuer that they were called Junk Bonds.
Agreed , this is why the actions of elected representatives are somewhat driven off course by advice from Federal career operatives who have no knowledge of the real world. "Yes Minister" the classic UK comedy series, was a lesson for all of us on how Politicians are manipulated by the unelected
I need help. I need a link to an article written I think by Joel Bowman on the costs to the environment of alternate energy. Nobody believes me when I tell them. I should have printed it at the time. Jill Brooks
Truth, anyone with half a brain could balance the federal budget in 5 minutes. So, what's the problem? Special interests and corruption might be the answer. What's the solution? That's a much more difficult question. The end of the Viet Nam war (excuse me, police action) and the EPA were forced on the government by the governed. It could happen again depending on how deep the corruption goes. Beat your spears into plowshares or rather your bombs into refrigerators. Or how about this, the Dept. of Agriculture formed when we were agrarian and now only, what, 2% work the land? And I shouldn't have to say this but the way we fund K through 12 guarantees a perpetual underclass.
I was just posting the obvious. The easiest answer would be for Congress to do their job of coining and regulating the money supply. The Fed creates money out of thin air, it would just as easy for Congress to disband the Fed cancelling all payments of debt and interest owed the Fed.
When a fiction money is created the debt owed by the citizens is also a fiction.
I'm sorry Dennis but the debt is real, not fiction, and it may be fiat currency but it too is real. If the government issues debt instruments for which there are no buyers then, I guess, the Fed can hold that debt as a last resort. Now, when the government issues debt with no buyers either domestic or foreign, now you've got yourself in a pickle. This 30 trillion dollar debt problem is real and must be dealt with, what are the options. There are 3 that I can see, default, pay it off with debased currency, or pay it off with negative interest rates. None can be done without a balanced budget. What you were saying was neither obvious nor correctly thought through.
I always wonder, is the dollar high or are all the others tanking faster, probably why Bill is tracking to gold. Even that's flat, I guess I just don't see much rationality in any valuations.
Bill, I have been a subscriber for quite a while and enjoy everything you write, but I am noticing something. You do not come down on Biden like you did on Trump. Weekly, you reminded us of his insanity and stupidity. I am not sure if you feel sorry for Biden's condition, but we know he is not mentally capable of this. Let us know how you feel about who is actually pushing all this narrative. No mention of his cabinet, insiders, Obama, Clintons. It just seems a little odd, but I will always continue reading.
Right on the money Bart.
Bill does us a disservice if he believes we aren't smart enough to see, remember and compare the differences between DJT and DJB (Dimentia Joe Biden) when it comes to his extremely unequal "belittlings"...
It would be interesting to post the net worth of all those Fed governors who never worked anywhere outside the Fed. Anyone have that info?
Excellent points. My only problem is that I see people driving new cars, filling up their gas tanks and the airports are packed. I live here Southern California. Even when the global bubble is popping there are still a lot of people flush with cash. People are still buying houses. What you say makes sense but the actual behavior on the ground is showing a very concerning lack of awareness. Interesting. Thanks for sharing.
There is a large percentage of "one percenters" in SoCal as well as a large contingent of those living lavishly beyond their means, anointed "privileged class," hucksters, shysters, and well-groomed con men. At least they don't defecate on the sidewalk like thousands of homeless in downtown L.A.
Same here, in good o’l west Texas. People spending like there is no tomorrow. Taking on piles of debt and gambling like fiends! Even low income families (based on geographical locations and house hold city median salary range assessments) are out and about in full throttle spending like Christmas Eve! 😂
Very similar situation here in SFL...
Those are probably democrats who have seen inflation before and aren't running around like their hair is on fire. Budget your money and enjoy life.
I get 3 or 4 offers for a new credit card each week, along with offers (bait) of low, low balance transfer rates, just like last time. Buckle your seat belt and put your head between your legs.
Frequently wrong but never in doubt. Perfect definition for the apparatchiks. A fascist corporatist economy needs its Central Bank like Hunter Biden needs his crack pipe :-)
Another Republican who doesn't remember what kind of mess that George Bush left us in as well as TRump. They all have their problems.
Oh, and thanks for demonstrating how some people are so invested in their tribal identity that they’re convinced anyone who disagrees with them on a specific point must be aligned with the only other tribe that exists… Dorothy, no tribal alliance on this end.
Exactly what "mess" did Trump leave us in, hmmm? I don't know, inflation almost nil, $2.00 a gallon gas (and that's on the West Coast where it costs more), rising GDP, stable markets (sans the brief Covid nothing-burger interruption). Yeah, times were so hard--NOT!
You keep drinking that Cool-aid. Oh, and we didn't have over a million invaders crashing our border either. Wait til you see your Property Tax bill (assuming you own property) to pay for educating all of these non-citizen illegals. There's a perfect nickname for people like you: CLUELESS.
If you don't know by now what a mess Trump left, then you're stupid. Take off your rose colored glasses.
You are flagrantly illustrating your intellectual flaccidity for all the world to see sweetheart.
Step away from the keyboard...
By the way, Hunter Biden doesn't smoke!
Ah, I get it. Why smoke when you can shoot it in your veins. Need to save your lungs in case the deadly Rona makes a curtain call.
I just gave her that nickname above before I saw your post down here-lol.
To continue the flying analogy, which we are maybe living vicariously through Bill, they say pilots are a special breed, classy, professional, safety conscious, and well trained. It does a great disservice to those folks to equate them in any way, to the Fed.
I wondered what the problem was, now I think I know. A chairman, 12 bankers, 400 PhDs and a plethora of others shouldn't be making so many mistakes. The sun is setting and the chickens are heading towards the roost. At least the papers are no longer stressed about filling their pages with something other than Covid. Now is the time for the "gamblers" to check that the fire exits have not been inadvertently locked.
Inadvertently??
Ha...
Fed Governors are finding out that “free enterprise” operates freely. Go figure!
They can pull the rubberband in both directions. But, eventually, the free market says, that’s enough! And, does its thing!
I would like a Constitutional Amendment that says The guvmint can’t borrow any money and has to balance its budget with yearly tax receipts.
And, btw, wipe out the Fed debt.
Burn all paper currency.
Use crypto backed by gold/silver.
Unfortunately, it will take a world war to turn down the old system and start fresh!
But, nothing is 100%.
A crypto backed by gold/silver and/or some other commodities will be the ultimate game changer. The central banks will have no answer for this one. They'll have to double down on their old propaganda; only criminals use crypto. Most people now realize the propaganda is complete b.s. The overloads just want to retain their monopoly over the creation of money. With DeFi the apparatchiks will play and endless game of whack a mole trying to shut it down or regulate it. Its not all doom and gloom :-)
Your description of "Junk Bond" is incorrect,. Along time ago (I'm 93 and a CFA) when large companies were on an aquisition binge they used Bonds to finance the aquisitions and these bonds, although issued by large, financially stable companies, were so expensive for the issuer that they were called Junk Bonds.
Agreed , this is why the actions of elected representatives are somewhat driven off course by advice from Federal career operatives who have no knowledge of the real world. "Yes Minister" the classic UK comedy series, was a lesson for all of us on how Politicians are manipulated by the unelected
I need help. I need a link to an article written I think by Joel Bowman on the costs to the environment of alternate energy. Nobody believes me when I tell them. I should have printed it at the time. Jill Brooks
Would not make more sense to slash government spending opposed to raising interest rates?
Truth, anyone with half a brain could balance the federal budget in 5 minutes. So, what's the problem? Special interests and corruption might be the answer. What's the solution? That's a much more difficult question. The end of the Viet Nam war (excuse me, police action) and the EPA were forced on the government by the governed. It could happen again depending on how deep the corruption goes. Beat your spears into plowshares or rather your bombs into refrigerators. Or how about this, the Dept. of Agriculture formed when we were agrarian and now only, what, 2% work the land? And I shouldn't have to say this but the way we fund K through 12 guarantees a perpetual underclass.
I was just posting the obvious. The easiest answer would be for Congress to do their job of coining and regulating the money supply. The Fed creates money out of thin air, it would just as easy for Congress to disband the Fed cancelling all payments of debt and interest owed the Fed.
When a fiction money is created the debt owed by the citizens is also a fiction.
I'm sorry Dennis but the debt is real, not fiction, and it may be fiat currency but it too is real. If the government issues debt instruments for which there are no buyers then, I guess, the Fed can hold that debt as a last resort. Now, when the government issues debt with no buyers either domestic or foreign, now you've got yourself in a pickle. This 30 trillion dollar debt problem is real and must be dealt with, what are the options. There are 3 that I can see, default, pay it off with debased currency, or pay it off with negative interest rates. None can be done without a balanced budget. What you were saying was neither obvious nor correctly thought through.
I always wonder, is the dollar high or are all the others tanking faster, probably why Bill is tracking to gold. Even that's flat, I guess I just don't see much rationality in any valuations.