It's just too easy to spend other people's money, and Congress is addicted. Of course, the American people are also addicted to those dollars, whether SS checks, Medicare, people employed by the government, or contractors to the government. Cutting back will require pain, and thus far we would rather delude ourselves that everything will work out than deal with the pain of cutting back.
Of course, not cutting back will also bring pain, but we all hope it will be well in the future, and that it will be someone else who has to suffer. I do not know how this will turn out, but I have tried to prepare personally as well as I can.
Well I expect higher inflation or hyperinflation is a GIVEN! The story of governments never seems to change, only who is in power. MAX SAFETY MODE is the only plan that makes sense for me. Yes my cash will continue to loose its purchasing power but at the same time gold will rise in value so there will be a offset. (History will repeat). If you don't have a commodity that works opposite to the "fiat currency", you have a big problem. Plus NO DEBT! Being prepared is the only solution.
Bill crafted an excellent layman's explanation how the Great Unraveling will occur.
What baffles me is why our elected and appointed officials whom we pay to guide our Ship of State are not taking steps now to steer clear of the shoals that will ravage our way of life.
If Argentina can smite inflation, why can't America?
Bill’s explanation for that makes sense. Change only occurs when pain becomes intolerable. We have not yet felt the pain of hyper inflation but the Argentinians had, hence the turn to Milei. But he is already encountering resistance from those who yearn for the good old days of the Peronists.
This is a brilliant write up and a reminder that people only focus on the recent past or 'the last crisis'. I like the wisdom at BPR who take a longer term view. A monkey steering an elephant. Maximum safety mode indeed.
But it can’t happen here! That’s the prevailing belief because we’ve never seen hyperinflation before. The can will always be kicked down the road and all will be fine. Until of course, the road ends.
I would suggest the following solution. Immediate One Term Limits. No Pensions or benefits for elected officials. Balanced Budgets required every year. Reduce or eliminate all free money or benefit programs for anyone of working age who has the capability to work and contribute. If they don't train them too. Implement this and you will see the rats running out the Federal and State houses and agencies faster than when they came in. Most of the people that don't like or want to regulate AI are afraid because it exposes the truth about governments, agencies, universities, etc. The time has come to play hardball.
It's just too easy to spend other people's money, and Congress is addicted. Of course, the American people are also addicted to those dollars, whether SS checks, Medicare, people employed by the government, or contractors to the government. Cutting back will require pain, and thus far we would rather delude ourselves that everything will work out than deal with the pain of cutting back.
Of course, not cutting back will also bring pain, but we all hope it will be well in the future, and that it will be someone else who has to suffer. I do not know how this will turn out, but I have tried to prepare personally as well as I can.
Well I expect higher inflation or hyperinflation is a GIVEN! The story of governments never seems to change, only who is in power. MAX SAFETY MODE is the only plan that makes sense for me. Yes my cash will continue to loose its purchasing power but at the same time gold will rise in value so there will be a offset. (History will repeat). If you don't have a commodity that works opposite to the "fiat currency", you have a big problem. Plus NO DEBT! Being prepared is the only solution.
Jim Marshall
Bill crafted an excellent layman's explanation how the Great Unraveling will occur.
What baffles me is why our elected and appointed officials whom we pay to guide our Ship of State are not taking steps now to steer clear of the shoals that will ravage our way of life.
If Argentina can smite inflation, why can't America?
Bill’s explanation for that makes sense. Change only occurs when pain becomes intolerable. We have not yet felt the pain of hyper inflation but the Argentinians had, hence the turn to Milei. But he is already encountering resistance from those who yearn for the good old days of the Peronists.
This is a brilliant write up and a reminder that people only focus on the recent past or 'the last crisis'. I like the wisdom at BPR who take a longer term view. A monkey steering an elephant. Maximum safety mode indeed.
But it can’t happen here! That’s the prevailing belief because we’ve never seen hyperinflation before. The can will always be kicked down the road and all will be fine. Until of course, the road ends.
I would suggest the following solution. Immediate One Term Limits. No Pensions or benefits for elected officials. Balanced Budgets required every year. Reduce or eliminate all free money or benefit programs for anyone of working age who has the capability to work and contribute. If they don't train them too. Implement this and you will see the rats running out the Federal and State houses and agencies faster than when they came in. Most of the people that don't like or want to regulate AI are afraid because it exposes the truth about governments, agencies, universities, etc. The time has come to play hardball.
We seem to have a number of competing narratives at BPR for the ‘end times’ now. Thought we were the handicappers, not the ones making bets!