At the present rate, the war would add about a half a trillion to the US deficit this year. If it goes on as long as the war in Afghanistan, it will add $10 trillion to the debt.
From former Congressman David Stockman: "...we are dealing with what amounts to a war with 21st century technology of destruction based on religious fanaticism. And we do not mean that of the Shiite clerics who misrule the Iranian people.
The real fanatics are Bibi Netanyahu and the neocon warmongers domiciled in the banks of the Potomac. They have created a “47-Year War on America” narrative which is an utter, complete and unmitigated Big Lie.
This horrific Big Lie has become embodied in the most senseless war by far that the American Warfare State has yet launched.
And it is not only jeopardizing upwards of one-fourth of of globally consumed petroleum and LNG-based hydrocarbons, but the global food supply, too."
The trump administration is all about shock & awe! And our children, grandchildren and great grandchildren will pay for it for the rest of their lives. Thank you Bill for your honest analysis!
The collective, feckless incompetence of those in charge the last 60 years is what produced circumstances so dire and made many so desperate as to produce the phenomenon of Donald Trump. This is something nobody seems to want to get. Best always. PM
But it appears you are missing one critical point Mr European. Trump asked NATO for help and their response was "its not our war." So the US is asking for help to guarantee supply of their need for oil / energy, coming from their strait and their economy on the line, German gas costs 7.85 per gallon, and "its not their war"! The US has a meager amount of oil coming thru Hormuz. But the Europeans kinda like it when we spend hundreds of billions of dollars a year on their security, fighting their wars, like have you forgotten about the Ukrainian war. Personally I think we need to leave NATO for good and let these socialists (dictators really since they've been voted out of office but won't leave while they jail their competitors and censor and jail their people) fend for themselves. It's pretty obvious when they say they must defeat Russia (so they can steal Russia's resources and constantly tell Zelensky he must stay in the war) that these imbeciles need to pay their own way and see how well their constituents like to wait till 2029 for new elections. That is the case for Merz, Macron and Starmer! New elections in 2029 after they pull about 10% poiltical support from their own people. They aren't leaders, they are corrupt politicians that want power to impose nonsense on their people so they can stay in power and milk their constituents while taking away their freedom.
I suggest you start reading something other than Politico or the NEW York Times. You might wake up to reality.
Shouldn't Trump have consulted with NATO countries before the sneak attack to see if they were willing to help? Actually the Europeans have been our lackeys for years. They stopped buying cheap Russian energy because of an invasion of Ukraine but instead started buyingore expensive LNG from the US despite the fact that the US has invaded or bombed a plethora of countries.
What did the eternal optimist say when he fell off a 1,000-foot cliff? "I'm not dead yet."
I've been waiting for the primary trends to bring about the collapse for 45 years, so very convinced and self-assured in my propriety, judgment, and rectitude that I missed God only knows how many opportunities and tied myself down with God only knows how many cords and chains in the process. I got out of "investing" (meaning: making others rich) in the Dot-Com run-up. I have actually "nothing" to lose in the Crash, because I have "nothing" now, and I should be rooting like Hell for it (The Crash), but I have learned, none of it is up to me. It would seem we're in a pickle, but what, when, and how it plays out will make a male donkey out of many. At 73, I'm through worrying about it. I came into this world with nothing, and I'll be going out the same way. In between it's been a helluva ride. Best always. PM
I have begun to really question your judgment about the economic and world perspective we (the US) finds ourselves in as the Iran war continues and we add more debt each day. Your continual reference of left wing biased media such as CNN and CNBC to support your assertions is ridiculous and at a minimum causes your readers to highly question your daily missives. If it wasn't for the invaluable financial advice of Tom Dyson I would have canceled long ago.
But blinded Trumpsters like yourself aren't obligated to provide a scintilla of actual facts or logical argument: just call out names and assertions that defy the realities taking place.
Bill, Your assertion that illegal immigrants have a lower crime rate than Americans is very misleading, if not outright propaganda. You know full well that there are two Americas: Third World America, comprised of about four dozen or so U.S. third-world cities (one of them the city of Baltimore); and, First World America, comprised of the suburbs and rural/small towns. Yes, the illegals are probably less violent and steal less than those in Third World America, which is as violent as any place on earth, and almost totally run by Democrats you seem to have championed for the last few years. But that is not remotely the case for First World America.
You sound like these hypocritical women in the safe, cocooned suburbs who “virtue signal” about how they love all the little black and brown people, as well as the illegal aliens, in the third-world cities---as long as they keep their distance, of course. I wish Pres. Trump would propose putting public housing in their suburban neighborhoods (or near your luxurious farm in rural Maryland) and see how they (and you) respond.
Also, I notice your properties in Ireland and France are located far away from the large Muslim populations you seem to virtue signal about. And Muslims in Argentina make up only one to two percent, and live almost exclusively in Buenos Aires. Virtually none near the Argentinian lands you own.
Bill you wage your literary war on Trump and his spending. You fault his use of weapons on two fronts i.e
their costs and the damage they do to the world's economies. Moreover, you include Israel as a player in this same debacle. Do you ever perceive that this war against terrorism might just be a good thing for the world's economies? Have you ever considered the extent to which an economic synergy between and among the East, Middle East and Far East countries would contribute to the world's economies? Just maybe Trump's war on Iran and their their terrorists proxies is an economic policy disguised as a war?
Supposedly, we have the greatest intelligence in the world, satellites circling the globe. Yet, we made the stupid decision to bomb Iran.
A physicist who worked for the defense department said the Golden Dome does not work, if everything is perfectly operational it is effective 30%; four-million-dollar rockets trying to intercept one 100k rocket. In the first two days Iran hit every US base in the Middle East. They knocked out 3 of 5-billion-dollar radar installations. The system is blind.
Murban oil went from $63. To $144. A barrel. Now Israel escalated bombing Iran gas fields. The Iranians went for oil and gas infrastructure in various countries. Funny Iran was still exporting 2 million barrels a day. Trump eliminated sanctions on Russia; they are making $80. More a barrel. Oil, gas and fertilizer could be offline for 5 years.
Lord knows the damage Israel is receiving. If their refinery and desalination plants are put out of commission, life comes to a standstill in a week. If no oil exits or food enters the Gulf States and desalination plants are destroyed a million people will need a new place to live.
The stock market is tanking; job creation is negative and Humpty Dumpty seems to be in pieces, and you know… all the king's men and horses cannot put him back together again.
The US is a technological military wonder money machine that cannot fight or win a war, and we paid 100’s of trillions for it, money that could have transformed the world.
America will never be great again. That would take sane, reasonable, intelligent people. They are dead and we spit in their legacy.
Agreed! Perhaps if Hope and Change Obama had prosecuted the Banksters behind the financial crisis and let them go bankrupt if necessary Trump never would have even run. Plus, he installed a cabinet picked by Citi Bank and dropped more bombs than Bush. He set the table for Trump.
This is a pretty damning editorial on America and Trump. While some statements are accurate, it is devoid of context and filled with the vitriol we have come to expect of American news media. Such language further polarizes us and does nothing to effect change.
Totally agree with you. Discussion is what there is too little of, especially in Congress, but also mainly in the media. Personal attacks just further the rampant polarization in our Country.
I wonder why so many of these comments assume that if Iran had a nuke, it would immediately use it on the USA. Yes, I get it, that Iran has a 47-year history of being messed about by the USA (and UK), so there is motive, and a reason for the USA to fear retribution.
However, the USSR had more motive, nukes and opportunity, and was also run by nutcases, but didn't shoot. (MAD).
India and Pakistan both have nukes, motives against each other, but don't shoot (mini-MAD).
North Korea has nukes, and ICBM missiles, and a great deal of motive. But it's not under active attack. (I wonder if those nukes deter active attack? Hmm).
Israel has nukes, and F-35's to deliver them regionally, and so need not fear invasion.
Maybe, just maybe, Iran wants nukes for defense, not attack? Another mini-MAD, directed not against the USA, but the nutcases in Israel?
Maybe the Iranian leaders are just as fearful as the Americans always are?
Anyhow, BB's article was actually about the perilous financial state of the USA and USD, with the latest war just a further example of wasting treasure, so I think I've been led off-subject. Sorry about that.
Oh, and to answer another off-subject comment - no, the USA no longer has any friends.
The USA doesn't need them. That's been made clear, so why complain about it?
Mutually Assured Destruction is a godsend to the Iranian radical islamists, they will be quickly in heaven to meet the virgins. Not so for the other nuclear armed countries.
Strange how the Pakistani Islamists haven't followed your beliefs; nor have the Indian Hindus, who I dimly understand, can expect re-incarnation.
They each seem to be intelligent, led intelligently, and to rely more on common sense, to deter a perceived threat, and remain on the present plane of existence.
Of course, they might not have your knowledge, or leadership by a very stable genius, who is rapidly spending the USA's treasure, and what remains of its international standing.
Right on Bill! Heard today the Administration is thinking of lifting the oil embargo on Iran’s oil, to help ease prices here at home?! Wow, there ya go! WTF! I’ll bet you a Trillion, 50 Trillion by the end of Trump’s term? That will get the next goofball in office all emboldened to really get going on the borrowing.
Our warfare/welfare Administrative State has been on a fiat money Jones since 1933, mainlining since 1971, and like junkies with other types of Jones, the addiction has transformed the metabolism from a democratic to a kleptocratic republic relentlessly focused on getting the next Fix. Who will prevail, the IRGC which has long since been comfortable with mass murdering it's restive residents, or the land of WeThePeople which still cringes when a couple of naive recruits to the anti-colonial colonial militia get ICEd. Stay tuned for the next exciting episode.
Interesting how the IRGC has harnessed BTC mining with ultra cheap energy to circumvent Western sanctions. They're evil but not dumb Perhaps just as Persian and Byzantine wars cleared the field for Islam to break out of its desert origins, this war will clear the field for some new Tower of Babel to make its attempt on the heavens, or at least Luna, Mars, and the asteroids.
Haven't seen or read your comments here before. Are you a new subscriber? or just new to posting here? Nice to read your fresh contributions. thanks for posting. I get more out of reading all the posts than I do from BB's column.
From former Congressman David Stockman: "...we are dealing with what amounts to a war with 21st century technology of destruction based on religious fanaticism. And we do not mean that of the Shiite clerics who misrule the Iranian people.
The real fanatics are Bibi Netanyahu and the neocon warmongers domiciled in the banks of the Potomac. They have created a “47-Year War on America” narrative which is an utter, complete and unmitigated Big Lie.
This horrific Big Lie has become embodied in the most senseless war by far that the American Warfare State has yet launched.
And it is not only jeopardizing upwards of one-fourth of of globally consumed petroleum and LNG-based hydrocarbons, but the global food supply, too."
The trump administration is all about shock & awe! And our children, grandchildren and great grandchildren will pay for it for the rest of their lives. Thank you Bill for your honest analysis!
The collective, feckless incompetence of those in charge the last 60 years is what produced circumstances so dire and made many so desperate as to produce the phenomenon of Donald Trump. This is something nobody seems to want to get. Best always. PM
Very well said Paul.
Agreed!!
Shock and awe began in 1913 and a stupid populace has simply loved it. We should have been concerned about our children's future 120 years ago.
Yes, but it's sadly not the way of the world. Best always. PM
But it appears you are missing one critical point Mr European. Trump asked NATO for help and their response was "its not our war." So the US is asking for help to guarantee supply of their need for oil / energy, coming from their strait and their economy on the line, German gas costs 7.85 per gallon, and "its not their war"! The US has a meager amount of oil coming thru Hormuz. But the Europeans kinda like it when we spend hundreds of billions of dollars a year on their security, fighting their wars, like have you forgotten about the Ukrainian war. Personally I think we need to leave NATO for good and let these socialists (dictators really since they've been voted out of office but won't leave while they jail their competitors and censor and jail their people) fend for themselves. It's pretty obvious when they say they must defeat Russia (so they can steal Russia's resources and constantly tell Zelensky he must stay in the war) that these imbeciles need to pay their own way and see how well their constituents like to wait till 2029 for new elections. That is the case for Merz, Macron and Starmer! New elections in 2029 after they pull about 10% poiltical support from their own people. They aren't leaders, they are corrupt politicians that want power to impose nonsense on their people so they can stay in power and milk their constituents while taking away their freedom.
I suggest you start reading something other than Politico or the NEW York Times. You might wake up to reality.
Mr. Mackinac, Excellent comments.
Shouldn't Trump have consulted with NATO countries before the sneak attack to see if they were willing to help? Actually the Europeans have been our lackeys for years. They stopped buying cheap Russian energy because of an invasion of Ukraine but instead started buyingore expensive LNG from the US despite the fact that the US has invaded or bombed a plethora of countries.
Bonner is beyond help
We all are. We are all headed for the scrap heap, and I sooner than later. It's OK; I had my shot. Best always. PM
Im on vacation in se Asia and they now love Americans because of real people like you. Cheers sir
What did the eternal optimist say when he fell off a 1,000-foot cliff? "I'm not dead yet."
I've been waiting for the primary trends to bring about the collapse for 45 years, so very convinced and self-assured in my propriety, judgment, and rectitude that I missed God only knows how many opportunities and tied myself down with God only knows how many cords and chains in the process. I got out of "investing" (meaning: making others rich) in the Dot-Com run-up. I have actually "nothing" to lose in the Crash, because I have "nothing" now, and I should be rooting like Hell for it (The Crash), but I have learned, none of it is up to me. It would seem we're in a pickle, but what, when, and how it plays out will make a male donkey out of many. At 73, I'm through worrying about it. I came into this world with nothing, and I'll be going out the same way. In between it's been a helluva ride. Best always. PM
I have begun to really question your judgment about the economic and world perspective we (the US) finds ourselves in as the Iran war continues and we add more debt each day. Your continual reference of left wing biased media such as CNN and CNBC to support your assertions is ridiculous and at a minimum causes your readers to highly question your daily missives. If it wasn't for the invaluable financial advice of Tom Dyson I would have canceled long ago.
But blinded Trumpsters like yourself aren't obligated to provide a scintilla of actual facts or logical argument: just call out names and assertions that defy the realities taking place.
Be nice now as you have no idea what you are talking about.
Bill, Your assertion that illegal immigrants have a lower crime rate than Americans is very misleading, if not outright propaganda. You know full well that there are two Americas: Third World America, comprised of about four dozen or so U.S. third-world cities (one of them the city of Baltimore); and, First World America, comprised of the suburbs and rural/small towns. Yes, the illegals are probably less violent and steal less than those in Third World America, which is as violent as any place on earth, and almost totally run by Democrats you seem to have championed for the last few years. But that is not remotely the case for First World America.
You sound like these hypocritical women in the safe, cocooned suburbs who “virtue signal” about how they love all the little black and brown people, as well as the illegal aliens, in the third-world cities---as long as they keep their distance, of course. I wish Pres. Trump would propose putting public housing in their suburban neighborhoods (or near your luxurious farm in rural Maryland) and see how they (and you) respond.
Also, I notice your properties in Ireland and France are located far away from the large Muslim populations you seem to virtue signal about. And Muslims in Argentina make up only one to two percent, and live almost exclusively in Buenos Aires. Virtually none near the Argentinian lands you own.
Frank - please stop talking sense to bonner, he don't get it :-)
Bill you wage your literary war on Trump and his spending. You fault his use of weapons on two fronts i.e
their costs and the damage they do to the world's economies. Moreover, you include Israel as a player in this same debacle. Do you ever perceive that this war against terrorism might just be a good thing for the world's economies? Have you ever considered the extent to which an economic synergy between and among the East, Middle East and Far East countries would contribute to the world's economies? Just maybe Trump's war on Iran and their their terrorists proxies is an economic policy disguised as a war?
Just consider what a wonderful world this would be if Iran gets a NUKE.
Bush, Clinton, Obama. and Biden (brain dead) did nothing but talk and give them money. How did that work out?
Jim Marsahall
Supposedly, we have the greatest intelligence in the world, satellites circling the globe. Yet, we made the stupid decision to bomb Iran.
A physicist who worked for the defense department said the Golden Dome does not work, if everything is perfectly operational it is effective 30%; four-million-dollar rockets trying to intercept one 100k rocket. In the first two days Iran hit every US base in the Middle East. They knocked out 3 of 5-billion-dollar radar installations. The system is blind.
Murban oil went from $63. To $144. A barrel. Now Israel escalated bombing Iran gas fields. The Iranians went for oil and gas infrastructure in various countries. Funny Iran was still exporting 2 million barrels a day. Trump eliminated sanctions on Russia; they are making $80. More a barrel. Oil, gas and fertilizer could be offline for 5 years.
Lord knows the damage Israel is receiving. If their refinery and desalination plants are put out of commission, life comes to a standstill in a week. If no oil exits or food enters the Gulf States and desalination plants are destroyed a million people will need a new place to live.
The stock market is tanking; job creation is negative and Humpty Dumpty seems to be in pieces, and you know… all the king's men and horses cannot put him back together again.
The US is a technological military wonder money machine that cannot fight or win a war, and we paid 100’s of trillions for it, money that could have transformed the world.
America will never be great again. That would take sane, reasonable, intelligent people. They are dead and we spit in their legacy.
Agreed! Perhaps if Hope and Change Obama had prosecuted the Banksters behind the financial crisis and let them go bankrupt if necessary Trump never would have even run. Plus, he installed a cabinet picked by Citi Bank and dropped more bombs than Bush. He set the table for Trump.
The dems way to eliminate the National debt. Let Iran have nuclear bombs to drop on us. No more us no more debt.
This is a pretty damning editorial on America and Trump. While some statements are accurate, it is devoid of context and filled with the vitriol we have come to expect of American news media. Such language further polarizes us and does nothing to effect change.
Totally agree with you. Discussion is what there is too little of, especially in Congress, but also mainly in the media. Personal attacks just further the rampant polarization in our Country.
I wonder why so many of these comments assume that if Iran had a nuke, it would immediately use it on the USA. Yes, I get it, that Iran has a 47-year history of being messed about by the USA (and UK), so there is motive, and a reason for the USA to fear retribution.
However, the USSR had more motive, nukes and opportunity, and was also run by nutcases, but didn't shoot. (MAD).
India and Pakistan both have nukes, motives against each other, but don't shoot (mini-MAD).
North Korea has nukes, and ICBM missiles, and a great deal of motive. But it's not under active attack. (I wonder if those nukes deter active attack? Hmm).
Israel has nukes, and F-35's to deliver them regionally, and so need not fear invasion.
Maybe, just maybe, Iran wants nukes for defense, not attack? Another mini-MAD, directed not against the USA, but the nutcases in Israel?
Maybe the Iranian leaders are just as fearful as the Americans always are?
Anyhow, BB's article was actually about the perilous financial state of the USA and USD, with the latest war just a further example of wasting treasure, so I think I've been led off-subject. Sorry about that.
Oh, and to answer another off-subject comment - no, the USA no longer has any friends.
The USA doesn't need them. That's been made clear, so why complain about it?
Mutually Assured Destruction is a godsend to the Iranian radical islamists, they will be quickly in heaven to meet the virgins. Not so for the other nuclear armed countries.
You must be a theologian, Clem? I admit I'm not.
Strange how the Pakistani Islamists haven't followed your beliefs; nor have the Indian Hindus, who I dimly understand, can expect re-incarnation.
They each seem to be intelligent, led intelligently, and to rely more on common sense, to deter a perceived threat, and remain on the present plane of existence.
Of course, they might not have your knowledge, or leadership by a very stable genius, who is rapidly spending the USA's treasure, and what remains of its international standing.
Right on Bill! Heard today the Administration is thinking of lifting the oil embargo on Iran’s oil, to help ease prices here at home?! Wow, there ya go! WTF! I’ll bet you a Trillion, 50 Trillion by the end of Trump’s term? That will get the next goofball in office all emboldened to really get going on the borrowing.
Our warfare/welfare Administrative State has been on a fiat money Jones since 1933, mainlining since 1971, and like junkies with other types of Jones, the addiction has transformed the metabolism from a democratic to a kleptocratic republic relentlessly focused on getting the next Fix. Who will prevail, the IRGC which has long since been comfortable with mass murdering it's restive residents, or the land of WeThePeople which still cringes when a couple of naive recruits to the anti-colonial colonial militia get ICEd. Stay tuned for the next exciting episode.
Interesting how the IRGC has harnessed BTC mining with ultra cheap energy to circumvent Western sanctions. They're evil but not dumb Perhaps just as Persian and Byzantine wars cleared the field for Islam to break out of its desert origins, this war will clear the field for some new Tower of Babel to make its attempt on the heavens, or at least Luna, Mars, and the asteroids.
FVM,
Haven't seen or read your comments here before. Are you a new subscriber? or just new to posting here? Nice to read your fresh contributions. thanks for posting. I get more out of reading all the posts than I do from BB's column.