Bill, this is some mighty fine writing: "Why not give Harry Truman credit for the urban renewal program in Nagasaki after 1945? Why not give Chief Sitting Bull credit for reducing payroll costs in the 7th Cavalry?" Always informative and always entertaining :-)
Yes Alex, the burning and rebuilding of cities in America has been going on for decades. It worked well in the past, and even better now for their new 15 minute new world city program.
Soon all the empty office space will become apartments, and most will be working within 15 minutes from their dwellings.
Between directing humans where they will live and controlling their currency, life will get very interesting in the next few decades...
"Because what Biden did was nothing more than continue the bonehead policies of his predecessor: stimmies to the voters, subsidies to crony industries, gifts to Zelensky et al…and enough weapons to keep the killing machine in gear." -- Bill in Today's Missive
I hate to nitpick our fearless leader, but the gifts to Zelensky et al and the weapons to Ukraine were not continued policies of Biden's predecessor (Russia didn't invade Ukraine until Biden was in office over a year). In fact, it could be argued that Biden's predecessor's policies kept Putin out of Ukraine.
In 2018 we removed a loud and inefficient wall A/C unit in our guest casita and replaced it with a new Mitsubishi ductless split unit. It cost $3200 installed. A few weeks ago it stopped cooling. Had the hVAC company that installed it out. To cut to the chase - by the time this is fixed (a leaking indoor air handler), we’re out over $4100. Over a barrel, August in AZ, so we’ll bite the bullet. The leaky part is under warranty, lol. Otherwise it would be $6100. Why not replace everything? Now it’s $8500 for the same setup installed. Bidenomics is awesome, but just for the beneficiaries of the Cantillion effect, not for the American consumer or working people. I wanted my kids to become investment bankers or neurosurgeons, but I’m telling them now to learn how to install and fix air conditioners instead. It pays better and you get to work outdoors. 🫤🙄 Thanks Bidenomics. Thanks CIA-CCP plannedemic.
Agree Donald, both insane, but the democrat has a bit of evil in it also, giving it the advantage over good, due to the rules good must follow...and yes, we have been having quite the drought in America...
I guarantee when we read the "solutions" from Stiglitz, they'll be doozies. In fact, I' think they'll be as bizarre as giving credit to "Joe Biden" for saving the economy.
1. Since the US (along with the rest of the world) is trending cashless using credit cards, how much of that credit card debt is transient? Who in their right mind pays 20% interest and not pay off their statement?
2. Also - if that debt graph were normalized to the 1971 dollar, what would it look like? Would that $17T be only about $300B in '71 bucks? Still not small potatoes and even then, Sen Everett Dirkson once said "A billion here, a billion there and it starts to add up to REAL money."
For BPR, I suggest that each graph chart shown has 2 lines or a small box at the bottom showing changes corrected for gold value and corrected for a known inflation rate. (Probably not the current CPI. Pick one that includes the middle classes' living costs, food, energy, etc. and stick with it.)
This is a 2 minute exercise per chart with a simple spreadsheet that could be on each of your computers. Enter beginning and end numbers of the chart and, presto, 3 sets of percentage changes show up:
1) what the lying inflated chart says,
2) what the change is adjusted for inflation according the a standard BPR inflation calculation (pick the one you all like and stick with it.)
3) what the change is in gold.
Cut and paste. Then thousands of us see reality.
No offence intended, but the Total Debt Balances and Composition chart is useless without showing the inflation corrected total, or at least a subtitle. I think you and Dan pointed this out recently.
Hey Steve L. I would suggest voting for neither party. And stop giving them money. And stop paying taxes. And stop sending our children into the military.
Only if you do it wrong. There's lots of people, even enumerated and in the system, not paying taxes. They're doing it "legally;" i.e., within the system. I understand a lot of people have had success with the Lost Horizons" way, but I don't have personal experience with them.
Nothing we can do now but just wait for the sky to fall. Based on historical records that would be collapse of paper currencies, depression and world war.
But please keep voting for democrats or republicans. Lol
Any other options Don? Seems we have not had a choice between a Democrat and Republican since Carter/Reagan. Every Republican after Reagan has been a certified RINO, so you mean keep voting for democrats, because in reality, we have no choice...when given the choice between a traitor and a traitor, the traitor always wins...
Yea look where they have taken us ! That's the key to understanding this entire mess. We can't get a RINO to even raise his voice. They don't even see what they are doing !
As I have said before, wage growth is before payroll deductions such as social security and taxes. Disposable income available is much less and inflation calculations on most items are after tax purchases.
Why isn't Paul Krugman getting more Nobel Prizes for his $1T platinum coin brainstorm? I have something better, a $33 T palladium coin. Why not remove the whole fiscal debt while we're are at it. Then why not a $120 steel coin to solve all the future promises. Come on boys let's get to some real solutions! That is surely worth a few more Nobel Prizes! Hey I'd like one too!
These political clowns and their bought out economists, Stiglitz, just keep the clown act running. Stiglitz even won a Nobel Prize which is now confirmation he is bought and paid for by the elite. Where is Stephanie Kelton she certainly deserves a Nobel Prize for her support of the clowns.
Excellent writing as usual, but I've one small nit to pick: the national debt never went down during Clintion's term in office. Through the miracle of government accounting they did report surpluses in the four years 1998 through 2001, but the national debt increased in each of those years. (Source: https://www.thebalancemoney.com/us-deficit-by-year-3306306) The last year in which the national debt went down in nominal terms was 1957.
Bill, this is some mighty fine writing: "Why not give Harry Truman credit for the urban renewal program in Nagasaki after 1945? Why not give Chief Sitting Bull credit for reducing payroll costs in the 7th Cavalry?" Always informative and always entertaining :-)
Reminds me of a meme of Keynesian economics - burn down a neighborhood to stimulate economic growth.
Yes Alex, the burning and rebuilding of cities in America has been going on for decades. It worked well in the past, and even better now for their new 15 minute new world city program.
Soon all the empty office space will become apartments, and most will be working within 15 minutes from their dwellings.
Between directing humans where they will live and controlling their currency, life will get very interesting in the next few decades...
Lets see how it plays out...
Yeah, pummel the lands and see the economy grow.
Or a Eastern European/ Asian country
"Because what Biden did was nothing more than continue the bonehead policies of his predecessor: stimmies to the voters, subsidies to crony industries, gifts to Zelensky et al…and enough weapons to keep the killing machine in gear." -- Bill in Today's Missive
I hate to nitpick our fearless leader, but the gifts to Zelensky et al and the weapons to Ukraine were not continued policies of Biden's predecessor (Russia didn't invade Ukraine until Biden was in office over a year). In fact, it could be argued that Biden's predecessor's policies kept Putin out of Ukraine.
Pipe down while Bill gets his TDS on...
In 2018 we removed a loud and inefficient wall A/C unit in our guest casita and replaced it with a new Mitsubishi ductless split unit. It cost $3200 installed. A few weeks ago it stopped cooling. Had the hVAC company that installed it out. To cut to the chase - by the time this is fixed (a leaking indoor air handler), we’re out over $4100. Over a barrel, August in AZ, so we’ll bite the bullet. The leaky part is under warranty, lol. Otherwise it would be $6100. Why not replace everything? Now it’s $8500 for the same setup installed. Bidenomics is awesome, but just for the beneficiaries of the Cantillion effect, not for the American consumer or working people. I wanted my kids to become investment bankers or neurosurgeons, but I’m telling them now to learn how to install and fix air conditioners instead. It pays better and you get to work outdoors. 🫤🙄 Thanks Bidenomics. Thanks CIA-CCP plannedemic.
Democrats & Republicans are insane. Voting for the same nonsense and expecting different results.
It’s as predictable as rain! Lol!
Agree Donald, both insane, but the democrat has a bit of evil in it also, giving it the advantage over good, due to the rules good must follow...and yes, we have been having quite the drought in America...
BB: I am enjoying all the responses you received from your "Bidenomics" article.
Hey, I really liked the Sitting Bull comment .
According to Newt Gingrich the Clinton surpluses were not inadvertent, but a result of his group's control of Congressional budgeting.
rjt: Whatever works!
I guarantee when we read the "solutions" from Stiglitz, they'll be doozies. In fact, I' think they'll be as bizarre as giving credit to "Joe Biden" for saving the economy.
Just can't wait to see Stiglitz's "solutions". That's gpnna be the final laugh and I hope I can laugh at that point.
I wonder:
1. Since the US (along with the rest of the world) is trending cashless using credit cards, how much of that credit card debt is transient? Who in their right mind pays 20% interest and not pay off their statement?
2. Also - if that debt graph were normalized to the 1971 dollar, what would it look like? Would that $17T be only about $300B in '71 bucks? Still not small potatoes and even then, Sen Everett Dirkson once said "A billion here, a billion there and it starts to add up to REAL money."
"Who in their right mind pays 20% interest and not pay off their statement?"
Madness is something rare in individuals – but in groups, parties, peoples, ages it is the rule.
-Friedrich Nietzsche, Beyond Good and Evil (1886)
That said, people get stuck sometimes, trying to keep up with their former, now untenable lifestyle. They're Americans, after all.
SUGGESTION, for what it's worth:
For BPR, I suggest that each graph chart shown has 2 lines or a small box at the bottom showing changes corrected for gold value and corrected for a known inflation rate. (Probably not the current CPI. Pick one that includes the middle classes' living costs, food, energy, etc. and stick with it.)
This is a 2 minute exercise per chart with a simple spreadsheet that could be on each of your computers. Enter beginning and end numbers of the chart and, presto, 3 sets of percentage changes show up:
1) what the lying inflated chart says,
2) what the change is adjusted for inflation according the a standard BPR inflation calculation (pick the one you all like and stick with it.)
3) what the change is in gold.
Cut and paste. Then thousands of us see reality.
No offence intended, but the Total Debt Balances and Composition chart is useless without showing the inflation corrected total, or at least a subtitle. I think you and Dan pointed this out recently.
Hey Steve L. I would suggest voting for neither party. And stop giving them money. And stop paying taxes. And stop sending our children into the military.
Basically, revolt!
DW: Be careful of the last two suggestions...could get you in a lot of trouble.
Only if you do it wrong. There's lots of people, even enumerated and in the system, not paying taxes. They're doing it "legally;" i.e., within the system. I understand a lot of people have had success with the Lost Horizons" way, but I don't have personal experience with them.
Nothing we can do now but just wait for the sky to fall. Based on historical records that would be collapse of paper currencies, depression and world war.
But please keep voting for democrats or republicans. Lol
Any other options Don? Seems we have not had a choice between a Democrat and Republican since Carter/Reagan. Every Republican after Reagan has been a certified RINO, so you mean keep voting for democrats, because in reality, we have no choice...when given the choice between a traitor and a traitor, the traitor always wins...
Spot on Steve. And look where these dims (and dim-lite RINOS) have taken us.
Then, YIKES! Look where they want to go in the near future...
Yea look where they have taken us ! That's the key to understanding this entire mess. We can't get a RINO to even raise his voice. They don't even see what they are doing !
As I have said before, wage growth is before payroll deductions such as social security and taxes. Disposable income available is much less and inflation calculations on most items are after tax purchases.
Why isn't Paul Krugman getting more Nobel Prizes for his $1T platinum coin brainstorm? I have something better, a $33 T palladium coin. Why not remove the whole fiscal debt while we're are at it. Then why not a $120 steel coin to solve all the future promises. Come on boys let's get to some real solutions! That is surely worth a few more Nobel Prizes! Hey I'd like one too!
These political clowns and their bought out economists, Stiglitz, just keep the clown act running. Stiglitz even won a Nobel Prize which is now confirmation he is bought and paid for by the elite. Where is Stephanie Kelton she certainly deserves a Nobel Prize for her support of the clowns.
Excellent writing as usual, but I've one small nit to pick: the national debt never went down during Clintion's term in office. Through the miracle of government accounting they did report surpluses in the four years 1998 through 2001, but the national debt increased in each of those years. (Source: https://www.thebalancemoney.com/us-deficit-by-year-3306306) The last year in which the national debt went down in nominal terms was 1957.