The new money system distorted just about everything, leaving the world with a vast fake economy...and more than $300 trillion in debt. In the US alone total debt rose from about $1.5 trillion in 1971
While I agree that our national debt is a catastrophe waiting to happen, I’m quite pissed off that you only bring up Trump as the culprit. You forgot to mention Biden and Obama that spent like drunk soldiers. If you’re going to blame someone, be fair. All administrations since 1971 have spent paper money backed by the US Government (which in my book is backed by nothing more than corrupt politicians).
You must be a new reader, or ignored years of Bonner railing on the profligate spending of the Democratic stooges. And yet, the criticism of Trump is sound.
"And without America’s fake dollars, US industries would have been forced to innovate and compete fairly with the rest of the world."
I would like to see Bill address the Trumpian view that while yes, having the worlds reserve currency is a privilege, it is also a double-edged sword that creates an insatiable demand for dollars outside our borders. That makes the dollar more valuable than it should be (in relation to other currencies) and THAT is a major reason for the trade imbalance.
While I agree that our national debt is a catastrophe waiting to happen, I’m quite pissed off that you only bring up Trump as the culprit. You forgot to mention Biden and Obama that spent like drunk soldiers. If you’re going to blame someone, be fair. All administrations since 1971 have spent paper money backed by the US Government (which in my book is backed by nothing more than corrupt politicians).
You must be a new reader, or ignored years of Bonner railing on the profligate spending of the Democratic stooges. And yet, the criticism of Trump is sound.
Actually it's backed by the government's ability to tax, the reserve of last resort. Best always. PM
too much trouble to comment
Abe is correct - Biden and Obama were worthless
"And without America’s fake dollars, US industries would have been forced to innovate and compete fairly with the rest of the world."
I would like to see Bill address the Trumpian view that while yes, having the worlds reserve currency is a privilege, it is also a double-edged sword that creates an insatiable demand for dollars outside our borders. That makes the dollar more valuable than it should be (in relation to other currencies) and THAT is a major reason for the trade imbalance.
If we are adding anything to our nations laws lets start with term limits.
Another "uplifting" doom and gloomier missive from BPR.
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Did Bill mention the "augmented" Chinese debt is projected to reach 129% of its GDP this year?
(according to Ai).