Despite much speculation and wishful thinking, the Fed is determined to get real rates back in positive territory. That will mean more ‘tightening’ and even lower asset prices.
Bill once again you've identified the problems MOST emphatically .. Entropy is about everything returning to it's basic/original state .. it takes energy + ingenuity to build anything up that is useful to humans including gold/silver etc. Yes America is a wasteland when it comes to producing anything but as you well know "don't underestimate this sleeping corpse" ! the productive forces are not terminally buried .. only just beneath the surface but the will power of people to rebuild after every event (tornado's hurricane's earthquakes floods etc) when these are added to the tax burdens that local state and federal govts continue to increase then eventually the back of the working class breaks .. then all hell breaks loose .. and it can't come soon enough ! so how about offering some SOLUTIONS to how we're gonna rebuild after the financial storm please?
Bill,Free Enterprise went the way of Leaman Bros.,living in a small town of 1200 population,I now have to get a $25.00 permit for a tag sale,next the kids will have to borrow 25 bucks from their Parents,for a pemit for a lemonade stand and write off the cost over 3 years.Yes,.Free enterprise is dead,print more money Fed.
A group in AZ might have to turn away from government to free enterprise. It appears they are turning to the courts. I began reading an article today about water being shut off to an area, and I immediately thought I was reading about one African clan retaliating against another. Upon further reading, it was Scottsdale, AZ shutting off all water to a subdivision just outside its city limits because of drought. Apparently folks in what appears to be a middle-to-upper-middle-class area of the U.S. have no water. You would think someone in government would have seen this coming. And banks making loans to build subdivisions where there’s little water?
Bill & Team — What realistic (not idealistic) accommodations would you suggest the Administration make to placate the GOP hardliners?
The Debt Theater of Brinksmanship is beginning. Political drama, grandstanding, posturing, end of life as we know it threats, finger pointing galore soon to occur
But in the end, in the give and take spirit of political compromise, the Administration will find a way to accommodate the GOP hardliners
Drawing from Bill’s days in WDC and from his staff in nearby Baltimore, what achievable accommodations would the Bonner Boys propose?
Your subscribers who work on Capitol Hill and in the Administration will see that what you propose is tossed into the political maw. Silence is acceptance.
Exactly, and you make great points with your questions. A wise man once told me that "those that are allowed to frame an argument are prone to win it".
Since when did limited, responsible government become the province of "hardliners"? Those used to be concepts that "mainstream" politicians espoused. Very few ever question the premise of people's questions, I would love to read Mr. Roberts' response.
Dave J -- My use of the word "hardliners" was a trigger for angst. Not my intention.
Nor did I mean to imply anything wrong with reducing Federal spending. Perhaps I should have observed that this confrontation is not new. It's been employed many times before.
The government actually shut down in 1995 (but for naught. When the non-essential Federal employees returned to work, they were reimbursed their lost wages for services they never performed)
The reason I call it "theater" is the tactic of holding the debt ceiling hostage to a spending reduction simply doesn't work.
Our debt ceiling is now $31 trillion. It was $5 trillion in 1995. The only way to control our Federal government from over-spending is a Constitutional Amendment.
I can't argue with much of this post. I am a bit of a political junky and am well aware (and perplexed) that when the government is shut down only about 20 percent of it actually is closed (according to Paul Ryan back when he was Speaker). Then they all get paid for the time off when they return to work as you said (making a shutdown nothing other than a paid vacation for federal employees).
I also agree that it's theater. The problem du jour is that Mitch McConnell, a true "softliner", gave away the store right before the end of the year and just days ahead of when the Republicans were about to take control of the House. To me, that is an impeachable offense and he should be removed as leader for sabotaging the only real leverage the Republicans had to address any type of spending reduction.
Hardliners? As I understand it, two of the demands that they would not budge on were that congressional representatives should be given at least 72 hours to read a bill before holding the vote, and that there should be no more omnibus bills where all the pet projects of the congressional leaders - that would never pass on their own merits - are crammed into a must-pass bill at the last minute. If these two rules alone are followed (I'm not holding my breath, but it is a step in the right direction), then I am fully supportive of the so-called hardliners.
Starboard Edge -- My use of the word "hardliners" was a trigger for angst. Not my intention.
Nor did I mean to imply anything wrong with reducing Federal spending. Perhaps I should have observed that this confrontation is not new. It's been employed many times before.
The government actually shut down in 1995 (but for naught. When the non-essential Federal employees returned to work, they were reimbursed their lost wages for services they never performed)
The reason I call it "theater" is the tactic of holding the debt ceiling hostage to a spending reduction simply doesn't work.
Our debt ceiling is now $31 trillion. It was $5 trillion in 1995. The only way to control our Federal government from over-spending is a Constitutional Amendment.
PGV - Theoretically, your return to gold standard is an appealing solution. Practically, I don’t see how it can work.
A gold standard for the dollar suggests to me that the dollar must be redeemable for gold.
Since there are reputed to be more USD outside the US than inside our borders, it won’t take long for those dollars to be converted into gold and shipped abroad
When the last gold bar at Ft Knox is removed, we’re back to where we are now.
If the dollar is not redeemable in gold, then its price will go to the heavens. I don’t see how more expensive gold backed dollar will restrain Congress from over-spending
On the other hand, a balanced budget amendment will prevent either party from the debt ceiling gamesmanship the nation is about to endure (again)
"But we have the world's largest stockpile of Gold Bullion in Ft. Knox."
Source please? Note: Because "my government said so" is not gonna cut it.
We've discussed this before PG. The last "audit" was a complete photo-op joke and PROVED precisely nothing with regard to how much physical Gold we "have" in Ft. Knox. Look up the specifics of what went on before you just blow this off because of the messenger and say, "Oh, we had an audit with reporters and everything." Total Clown Show.
Now - given the FACTUAL REALITY that we likely have NEVER had a TRUE audit of our physical "horde", and given the FACTUAL REALITY of how our "government" has behaved over the last 30-40 years - is anyone willing to take the published figures at face value?
Conspiracy Theory? Maybe. But a funny thing has been happening with those A LOT lately...
On a different topic, on the timelessness of Bill's posts:
Studying with someone today, I referenced Bill's series from several years ago on Happiness. Bill pointed out, through anecdotes and experience, how money does not bring happiness. Guaranteed Basic Income will not bring happiness or financial stability, people will end up spending on Robin Hood, drugs, expensive sneakers they don't need, etc.
On the other hand, if I remember, Bill spoke about the joy and satisfaction it brings him to work on restoring dilapidated structures on his property, riding with the gauchos, and so on.
The series was timeless, enlightening, and from the heart - as are many of his posts.
It would be great to have a best of or archive section....
We see how supplying people with a free living works. Insane crime, burnt cities and the growth of more democrats and offspring that demand more free stuff. Free fake money will never replace the value of life, time and effort, to become a better human being. To understand and appreciate the short time we have and the horrible waste not to become the most you can during that time. Such a waste of life…
Does that mean you don't have them? You're kidding!
If I saved all my favorite articles from Bonner, I'd have no space left on my computer. But those about happiness were incredible perspective and analysis.
Love the train photo, Maryland may adopt it next as the State Photograph. Bill will appreciate this:
Impallaria Case
Maryland State Prosecutor Charlton T. Howard III announced today that former Maryland State Delegate Richard K. Impallaria pleaded guilty to misconduct in office for misusing state funds. The Honorable Stacy McCormick, Circuit Court for Anne Arundel County, accepted the plea and scheduled a sentencing hearing for June 21, 2023.
Between July 2012 through and including May 31, 2022, the State of Maryland paid $92,800 in rent for Del. Impallaria’s “district office”. During that same time period, Del. Impallaria paid $0.00 in rent for his neighboring cottage. The monthly rental payments for Impallaria’s personal cottage collected from the General Assembly during that time were $44,100.
“The public needs to trust that elected officials are good stewards of the State’s resources” stated State Prosecutor Howard. “Our office will continue to work toward ensuring that those individuals who abuse their positions of trust are held accountable.”
My comments: What we are seeing is the fraudulent application of “justice” in this case. Former Delegate Richard K. Impallaria agreed to the charges listed above. They constitute embezzlement, larceny after trust, grand larceny, filing of false claims, and maleficence in office for starters. The plea deal accepted by the Honorable Stacy McCormick, Circuit Court for Anne Arundel County is an absolute contradiction of accountability and a blatant distortion of justice. Nothing will be done to correct this outcome or provide appropriate consequences. However, reporting knowledge of this type of activity has always been the responsibility of the “third estate”. I can only hope the press will fulfill its responsibility.
I have to agree with much of what you say, but Commercial property loans generally require at least a 25% down payment and 30 to 40% is not uncommon in some areas for risky projects. That's not to say that there aren't any 90% loans, the SBA guaranteed being the obvious exception.
Most Investors are still in trouble with even a small drop in value and will "crash and burn" with an extended vacancy, which looks like it will be a problem sooner than later!
“Enantiodromia” is a good descriptive word for positive social mood morphing into negative social mood. Big groups break up into smaller groups. Positive emotions swing to negative emotions. Market construction switches to destruction.
You might want to rethink this lock step adoration of “Free Trade”.
A complicated subject in a world controlled by giant corporations, the elite you hate so much.
You could call it freedom to exploit. They spend a trillion a year of deficit spending on military protection in the US so that they can irradiate jobs by sending to the cheapest place which causes an Industrial Revolution and destroys agricultural societies and creates homeless, slum dwellers that migrate by the millions to perceived places of opulence that are sociological, political, economic disasters such as the US.
I count 13 months at $49,910.00 which is $648,830.00 straddled across two years. Though that's chump change compared to what they really peddled, err received, I want to hear the Democrats screaming for Biden's taxes (and a lot of other things too) and see them use taxpayer money litigating like Hell to get them. You know, kind of like the way they went after Trump.
Yes PG, we all know everything the communist spew on the Republicans, are the exact crimes they are committing and have committed. The old shell game, but with the power of the communist media and corrupt DOJ in America, they hide the ball wherever they’re told…and the goats believe them…bahhh bahhhh they cry as they lose everything.
Bill once again you've identified the problems MOST emphatically .. Entropy is about everything returning to it's basic/original state .. it takes energy + ingenuity to build anything up that is useful to humans including gold/silver etc. Yes America is a wasteland when it comes to producing anything but as you well know "don't underestimate this sleeping corpse" ! the productive forces are not terminally buried .. only just beneath the surface but the will power of people to rebuild after every event (tornado's hurricane's earthquakes floods etc) when these are added to the tax burdens that local state and federal govts continue to increase then eventually the back of the working class breaks .. then all hell breaks loose .. and it can't come soon enough ! so how about offering some SOLUTIONS to how we're gonna rebuild after the financial storm please?
Bill,Free Enterprise went the way of Leaman Bros.,living in a small town of 1200 population,I now have to get a $25.00 permit for a tag sale,next the kids will have to borrow 25 bucks from their Parents,for a pemit for a lemonade stand and write off the cost over 3 years.Yes,.Free enterprise is dead,print more money Fed.
A group in AZ might have to turn away from government to free enterprise. It appears they are turning to the courts. I began reading an article today about water being shut off to an area, and I immediately thought I was reading about one African clan retaliating against another. Upon further reading, it was Scottsdale, AZ shutting off all water to a subdivision just outside its city limits because of drought. Apparently folks in what appears to be a middle-to-upper-middle-class area of the U.S. have no water. You would think someone in government would have seen this coming. And banks making loans to build subdivisions where there’s little water?
Bill & Team — What realistic (not idealistic) accommodations would you suggest the Administration make to placate the GOP hardliners?
The Debt Theater of Brinksmanship is beginning. Political drama, grandstanding, posturing, end of life as we know it threats, finger pointing galore soon to occur
But in the end, in the give and take spirit of political compromise, the Administration will find a way to accommodate the GOP hardliners
Drawing from Bill’s days in WDC and from his staff in nearby Baltimore, what achievable accommodations would the Bonner Boys propose?
Your subscribers who work on Capitol Hill and in the Administration will see that what you propose is tossed into the political maw. Silence is acceptance.
GOP hardliners?
Never is there such a thing as a "far Leftist" is there?
These Leftists are the hardliners and thieves. Compromise for them is to do it their way or else.
Exactly, and you make great points with your questions. A wise man once told me that "those that are allowed to frame an argument are prone to win it".
Since when did limited, responsible government become the province of "hardliners"? Those used to be concepts that "mainstream" politicians espoused. Very few ever question the premise of people's questions, I would love to read Mr. Roberts' response.
Dave J -- My use of the word "hardliners" was a trigger for angst. Not my intention.
Nor did I mean to imply anything wrong with reducing Federal spending. Perhaps I should have observed that this confrontation is not new. It's been employed many times before.
The government actually shut down in 1995 (but for naught. When the non-essential Federal employees returned to work, they were reimbursed their lost wages for services they never performed)
The reason I call it "theater" is the tactic of holding the debt ceiling hostage to a spending reduction simply doesn't work.
Our debt ceiling is now $31 trillion. It was $5 trillion in 1995. The only way to control our Federal government from over-spending is a Constitutional Amendment.
I can't argue with much of this post. I am a bit of a political junky and am well aware (and perplexed) that when the government is shut down only about 20 percent of it actually is closed (according to Paul Ryan back when he was Speaker). Then they all get paid for the time off when they return to work as you said (making a shutdown nothing other than a paid vacation for federal employees).
I also agree that it's theater. The problem du jour is that Mitch McConnell, a true "softliner", gave away the store right before the end of the year and just days ahead of when the Republicans were about to take control of the House. To me, that is an impeachable offense and he should be removed as leader for sabotaging the only real leverage the Republicans had to address any type of spending reduction.
Amen!!!
Hardliners? As I understand it, two of the demands that they would not budge on were that congressional representatives should be given at least 72 hours to read a bill before holding the vote, and that there should be no more omnibus bills where all the pet projects of the congressional leaders - that would never pass on their own merits - are crammed into a must-pass bill at the last minute. If these two rules alone are followed (I'm not holding my breath, but it is a step in the right direction), then I am fully supportive of the so-called hardliners.
Those hardliners were one baby step but at least a positive one.
Hi Mr. Roberts -
One man's "hardliner" is another man's Patriot...
Starboard Edge -- My use of the word "hardliners" was a trigger for angst. Not my intention.
Nor did I mean to imply anything wrong with reducing Federal spending. Perhaps I should have observed that this confrontation is not new. It's been employed many times before.
The government actually shut down in 1995 (but for naught. When the non-essential Federal employees returned to work, they were reimbursed their lost wages for services they never performed)
The reason I call it "theater" is the tactic of holding the debt ceiling hostage to a spending reduction simply doesn't work.
Our debt ceiling is now $31 trillion. It was $5 trillion in 1995. The only way to control our Federal government from over-spending is a Constitutional Amendment.
PGV - Theoretically, your return to gold standard is an appealing solution. Practically, I don’t see how it can work.
A gold standard for the dollar suggests to me that the dollar must be redeemable for gold.
Since there are reputed to be more USD outside the US than inside our borders, it won’t take long for those dollars to be converted into gold and shipped abroad
When the last gold bar at Ft Knox is removed, we’re back to where we are now.
If the dollar is not redeemable in gold, then its price will go to the heavens. I don’t see how more expensive gold backed dollar will restrain Congress from over-spending
On the other hand, a balanced budget amendment will prevent either party from the debt ceiling gamesmanship the nation is about to endure (again)
"But we have the world's largest stockpile of Gold Bullion in Ft. Knox."
Source please? Note: Because "my government said so" is not gonna cut it.
We've discussed this before PG. The last "audit" was a complete photo-op joke and PROVED precisely nothing with regard to how much physical Gold we "have" in Ft. Knox. Look up the specifics of what went on before you just blow this off because of the messenger and say, "Oh, we had an audit with reporters and everything." Total Clown Show.
Now - given the FACTUAL REALITY that we likely have NEVER had a TRUE audit of our physical "horde", and given the FACTUAL REALITY of how our "government" has behaved over the last 30-40 years - is anyone willing to take the published figures at face value?
Conspiracy Theory? Maybe. But a funny thing has been happening with those A LOT lately...
Amen brother Star.
Also see https://www.yahoo.com/now/hunter-biden-asks-judge-stop-155153437.html?soc_src=social-sh&soc_trk=ma
On a different topic, on the timelessness of Bill's posts:
Studying with someone today, I referenced Bill's series from several years ago on Happiness. Bill pointed out, through anecdotes and experience, how money does not bring happiness. Guaranteed Basic Income will not bring happiness or financial stability, people will end up spending on Robin Hood, drugs, expensive sneakers they don't need, etc.
On the other hand, if I remember, Bill spoke about the joy and satisfaction it brings him to work on restoring dilapidated structures on his property, riding with the gauchos, and so on.
The series was timeless, enlightening, and from the heart - as are many of his posts.
It would be great to have a best of or archive section....
We see how supplying people with a free living works. Insane crime, burnt cities and the growth of more democrats and offspring that demand more free stuff. Free fake money will never replace the value of life, time and effort, to become a better human being. To understand and appreciate the short time we have and the horrible waste not to become the most you can during that time. Such a waste of life…
Do you still have these original emails? If so, please send them to us at research@bonnerprivateresearch.com and we'll see what we can do. Thank you!
Does that mean you don't have them? You're kidding!
If I saved all my favorite articles from Bonner, I'd have no space left on my computer. But those about happiness were incredible perspective and analysis.
Love the train photo, Maryland may adopt it next as the State Photograph. Bill will appreciate this:
Impallaria Case
Maryland State Prosecutor Charlton T. Howard III announced today that former Maryland State Delegate Richard K. Impallaria pleaded guilty to misconduct in office for misusing state funds. The Honorable Stacy McCormick, Circuit Court for Anne Arundel County, accepted the plea and scheduled a sentencing hearing for June 21, 2023.
Between July 2012 through and including May 31, 2022, the State of Maryland paid $92,800 in rent for Del. Impallaria’s “district office”. During that same time period, Del. Impallaria paid $0.00 in rent for his neighboring cottage. The monthly rental payments for Impallaria’s personal cottage collected from the General Assembly during that time were $44,100.
“The public needs to trust that elected officials are good stewards of the State’s resources” stated State Prosecutor Howard. “Our office will continue to work toward ensuring that those individuals who abuse their positions of trust are held accountable.”
My comments: What we are seeing is the fraudulent application of “justice” in this case. Former Delegate Richard K. Impallaria agreed to the charges listed above. They constitute embezzlement, larceny after trust, grand larceny, filing of false claims, and maleficence in office for starters. The plea deal accepted by the Honorable Stacy McCormick, Circuit Court for Anne Arundel County is an absolute contradiction of accountability and a blatant distortion of justice. Nothing will be done to correct this outcome or provide appropriate consequences. However, reporting knowledge of this type of activity has always been the responsibility of the “third estate”. I can only hope the press will fulfill its responsibility.
Stephen Buchness
PS sent to WBAL news department, not just Bill
I have to agree with much of what you say, but Commercial property loans generally require at least a 25% down payment and 30 to 40% is not uncommon in some areas for risky projects. That's not to say that there aren't any 90% loans, the SBA guaranteed being the obvious exception.
Most Investors are still in trouble with even a small drop in value and will "crash and burn" with an extended vacancy, which looks like it will be a problem sooner than later!
The font used in this Substack very nice.
But the email font is not good.
“Enantiodromia” is a good descriptive word for positive social mood morphing into negative social mood. Big groups break up into smaller groups. Positive emotions swing to negative emotions. Market construction switches to destruction.
You might want to rethink this lock step adoration of “Free Trade”.
A complicated subject in a world controlled by giant corporations, the elite you hate so much.
You could call it freedom to exploit. They spend a trillion a year of deficit spending on military protection in the US so that they can irradiate jobs by sending to the cheapest place which causes an Industrial Revolution and destroys agricultural societies and creates homeless, slum dwellers that migrate by the millions to perceived places of opulence that are sociological, political, economic disasters such as the US.
We don’t live in 1890 Kansas anymore.
Let’s get up to date in our analysis.
I count 13 months at $49,910.00 which is $648,830.00 straddled across two years. Though that's chump change compared to what they really peddled, err received, I want to hear the Democrats screaming for Biden's taxes (and a lot of other things too) and see them use taxpayer money litigating like Hell to get them. You know, kind of like the way they went after Trump.
DJ: Who knows, they just might start screaming for Biden's taxes. But regardless, going after Trump was appropriate when it happened.
Yes PG, we all know everything the communist spew on the Republicans, are the exact crimes they are committing and have committed. The old shell game, but with the power of the communist media and corrupt DOJ in America, they hide the ball wherever they’re told…and the goats believe them…bahhh bahhhh they cry as they lose everything.
C'mon Rick - somebody's gotta do it...