40 Comments

Please, can't we give defaulting on the national debt a chance?

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NO! Why should we take a chance on terrible things happening?

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Hey Cat. Terrible things are happening now. Our grand children will be burdened with that they did not acquire. I find that form more terrible than our country going bankrupt. What they’re doing now is dishonest. Back in 2008. They solved a debt problem with more debt. The people of this country have had 15 years to prepare for what is coming. 15 years. If you truly thought they solve the problem in 08 I just don’t even know what to say to you. Did you buy a little extra food. Did you enlarge your garden? maybe laying a little more ammunition? Chickens? People that have done nothing to prepare of only themselves to blame. Me and mine will not be victims. Let the bankruptcy begin.

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If we default the terrible things would be 100 times worse. I do not advocate adding to our national debt at all. We need to reduce spending AND RAISE TAXES so we have a balanced budget.

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Get I suppose we will have to agree to disagree. Thought day is coming when there will be no more Social Security checks, Medicare, etc. This country is bankrupt. Knowing that is coming or you and your family prepared? Or are you waiting for the government to help you. You will be very disappointed.

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Social Security and Medicare will not go to zero. The government will pay some percentage of it--2/3 at the worst. Hopefully Democrats will run Congress and the Presidency to get rid of Trump's tax cuts and raise taxes, too. According to Snopes, the debt rose 7.8 trillion during Trump's four years which is 24.8% of the entire national debt. Yes, let's agree to disagree. I'm not going to write you back anymore on this topic.

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Hi Kat. My apologies. My answer was very short and Curt. I would like to add I hope and pray that I am wrong. May God bless us all.

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Yes, my dear like most Americans, he will stick your head in the sand and pretend nothing is happening. You put far too much faith in the federal government. All the Democrats and all the Republicans care about is money and power. Remember me when you’re starving. I won’t be.

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A: NO... The ramifications would be too great.

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Yes, but not for me, or 98% of americans.

But even if it did affect most americans, we should still give default a chance. Enough is enough.

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Hey Alex. I would love to default.

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An irresponsible idea.

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I don't know, I think it's irresponsible spending more money than you (illegally) collect, but that's just me.

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Hey cat. Do you really think continuing putting our bills on a credit card is a good idea? I live within my means, and I suppose you do too.

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I like the gambler analogy, but here is a better one (IMO) that I tell my friends and family:

Imagine you're a banker and one of your clients is coming in to ask for an increase in his line of credit. You review his finances and find that he makes $49,000 per year, but spends $62,700 per year. And, he already has used all of his $314,000 Line of Credit with nothing acquired that could be used as collateral, and is asking for $15,000 more to get him through the next year. "Trust me", he says. Would you loan him more? At least without doing something about the income/spending discrepancy??

These are 2022 numbers, divided by a trillion then multiplied by 10,000.to put it in the range of an average wage earner.

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Erik: NO! I would also advise him to talk to his CPA, if he has one. No loan for him...you'll just be giving your money away; and he will probably file for bankruptcy after you loan him the money.

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The war on poverty has resulted in more poverty.

The war on drugs has resulted in more drugs.

The war on terror has resulted in more terror.

The war on crime has resulted in more crime.

Maybe they should start a war on wisdom. (Proverbs 9:10 The fear of the LORD is the beginning of wisdom, and the knowledge of the Holy One is understanding.)

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Hey Todd. That made me laugh out loud. Thank you.

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I think the war on wisdom has been underway for quite some time.

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Bill, I have been a Republican most of my life, I still believe in less government, less taxes and more issues passed down to local and state governess. I enjoy your letters, but it seems as you always see the Democrats as the spend thrifts. I wish this was true, but unfortunately it is not. One just has to look at the deficits of every administration starting with George W Bush and bring it forward. George was roughly 8 trillion in 8 years. Obama, 8 trillion in 8 years . Trump, 8 trillion in 4 years and now Biden's mess. It doesn't matter if you spend it on welfare handouts or an ill advised war, it is still spending and it is still debt. Neither party now has any idea on how to be fiscally conservative. It seems as if which ever party is not in charge blames the other for spending too much...

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Hey, wait a minute, Bush and Obummer were fighting a "war on terror." And Trump was fighting a war on terrorist viruses (which, BTW, have never been shown to exist). Whose side are you on, the terrorists side, or the side of the good and just?

"The war is waged by each ruling group against its own subjects, and the object of the war is not to make or prevent conquests of territory, but to keep the structure of society intact. The very word "war", therefore, has become misleading. It would probably be accurate to say that by becoming continuous war has ceased to exist."

-George Orwell, 1984

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AI can be no smarter than the smartest person. Intelligence is not what is lacking in this country, it is common sense that we are short of

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Starting to think the AI thing is another avenue to get VC money. Go public and then dump the stock on the herd.

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I keep statements in Word that I like to pass along. (I have to write them down because my memory is poor.) Per Bill's memo today, I'm reminded of his statement awhile back:

"With the internet, the world might be stuffed with information, yet starved for wisdom." -- Bill Bonner

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The internet does indeed provide vast amounts of information, and that’s the problem. Our brains can only analyse and classify a modest flow of information. Hooking them up to the internet can be like filling a teacup with a fire hose.

Our brain reacts to this abusé be re-wiring itself to soak up whatever comes with no analysis or evaluation.

That’s why Eric Schmidt could say: “I don’t think folks want Google to answer their question. I think they want Google to tell them what to do.”

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The consensus in the media, raise the debt ceiling, lower spending, and somehow that makes sense in Washington, DC? Last time I was near bankruptcy, the debt ceiling was sent to the bilge, while we sold off the deck furniture on our Titanic. It was hard selling off some rare gold coins but they got the pumps going and righted the ship. With no one in DC possessing a modicum of fiscal restraint the USS Dollar is sure to hit bottom.

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Maybe we need to refer the Federal Govt to “Borrowers anonymous”.

Do we have such a thing?

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I’m sure Joe Biden and his poor deranged son could cough up a couple of regurgitated billions coming back to them through the Ukraine 🤔…the democrats do prove that theft and corruption pay off 😳, they just never understand at what cost…hey, what’s an individual soul, or the soul of a nation when you get to reign forever in hell 🤔

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Today's NVDA Close: $304.15

Today's current price in after-hours trading): $382.70

Profit since today's close: $78.55 / share

Blowout earnings!

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Love it 👍😊, but definitely selling tomorrow!

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Stop blaming parties. Who cares?

The problem is Washington DC.

Simple: take away the Credit Card.

Politicians: You want something Then pay for it with tax receipts. If there are not enough tax receipts to cover it. Then, cut something else. Or, propose a new tax.

Politicians then ask their constituents to send more money.

If constituents want it they will pay. If not, you don’t get squat.

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Feeling melancholy today as I read “Un-civilizing America.” As my time on this glorious planet wanes, I regret my lackluster impact. Sure, I’ve been sort of productive, made a meager contribution. For the last 20-odd years as an Oxford Club member, following Mr. Bonner et al, I could have, should have, done more, maybe or maybe not. Bill’s logic has always made sense to me. It reminds me of my early desires to be like the Count of Monte Cristo. That was not to be, but it’s okay. We do what we can. I guess this is an expression of thanks.For whatever it is worth, I appreciate

Bill’s perspective and his consistency.

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This conversation is to old,and has gone on for too long.Government defaults=new connversation.

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I agree that it is irresponsible to spend more money than you collect. There are two sides to this coin--revenue and spending. We should increase revenue and decrease spending. Do both.

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