Why not issue zero coupon 50-year bonds backed fractionally by gold and use them to buy back outstanding debt? Next, cut spending with massive lay-offs of federal workers and merge and or shut down entire agencies of the government. At the same time build the private sector by rebuilding our bridges and roads, onshoring our industries, and achieving energy independence. Edit: Oh I almost
forgot we would all have to get our hands dirty again, to make America Great Again.
Once a civilization gets too important to do its own dirty work, it's over. Our labor force is all on welfare, excuse me "electronic benefits transfers", so we have to import 3rd world miserables to do it. We've gotten so rotten, we can't make anything for ourselves, so we "offshore" our ability to value-add, and so, we create no capital. You know the rest, Best always. PM
Mr. Murray, Excellent points from you, as usual. But I’m not sure the “3rd world miserables” are doing as much dirty work as they used to. According to some writers from the Heritage Foundation, these miserables have in fact done the dirty work since the 1970s---until about 15 years ago, when they started depending heavily on govt. aid, while piling 8-to-12 into small, cheap houses/apartments in U.S. third-world cities and pooling their govt. aid. They might work part-time, but their work ethic is nothing like the miserables who preceded them the previous 40 years or so (1970-2010). They are heavily wards of the state, who, God forbid, if ever legalized, would vote for endless amounts of govt. aid.
And I’m glad to read that you and Mr. Bouchard understand that offshoring (i.e., the dismantling of much of the U.S. industrial base) has also contributed mightily to the enormous debt run-up, not just warmongering. Bill continues to harp on warmongering, which is good. But there are other factors involved pertaining to this debt craziness, such as off-shoring.
And I’m afraid, with so many soft Americans hooked on debt, this debt-for-jobs nonsense begun in the 21st Century will continue until a collapse occurs. (Cut the debt in a major way, thus resulting in millions of jobs lost. Get tossed out of the WH/Congress. So how does it stop?) I mostly blame the folks, not their representatives. Financial ignorance among most American people (outside their own little world) is a terrifying threat to freedom. And “ignorance” does not necessarily mean “stupidity.” Folks with high I.Q.s can be ignorant about many things.
Agreed. There's ignorance, and then there's WILLFUL ignorance. I have learned there are people who can deal with reality, but more and many who simply can't. They do not have the right emotional makeup. Yes, we have plenty of otherwise smart people, who are willfully ignorant, just like there are phonies, and what Truman Capote called "genuine phonies" who actually believe their stuff and nonsense. I'm sorry; we're going to have to experience the decline and crash like every other civilization in history. The only variables are how violent it will be and how long it will take. Perhaps we're fortunate, and we just continue our pitiful ways into blissful and addled oblivion. Meanwhile the "foxes" pursue their scam. Best always. PM
Why not simply fire several million government employees immediately, cancel billions of dollars worth of arms orders, put America in the monthly black in 6 months as Argentina has done? It's just one presidential vote away, but nobody on this continent is willing to risk picking up JFK's chainsaw - or even talk about it.
Christ taught us that some people have to sleep & slop with the pigs for a while before they come to themselves - and take the simple, humble steps to come home.
We have been prodigally eating our young for 50 years. This world may not have enough decades to MAGA, but maybe 50 years from now.
In my very first Economics course in college the professor gave a lecture on the “The foundational and psychological components of Inflation”. It remains, to this day, one of the best academic discourses on the topic of economics I have ever heard or read. The professor started with the standard definition on inflation: “too many dollars chasing too few goods”, he emphasized that inflation was always and everywhere caused by governments, emphasizing the fiscal and (especially) the monetary policy components, the economic relationship between interest rates and inflation, the role of currency exchange rates and the role exchange rates play in hyperinflation, the importance and role of healthy labor markets and supply chains and how disruptions to these vital economic engines(for any reason, especially war) can trigger and sustain high inflation.
But the most fascinating part of the lecture was his discussion of the psychology of inflation. His view was that once inflation had started, once bad government policy had taken its toll and the inflation cycle started, that the ongoing psychology was perhaps the most important factor in ending it. He explained that there has always been a strong psychological component to inflation involving both expectations and opportunism. The inflation opportunists simply raise prices because they can, not because their costs have risen. Enough opportunists and everyone’s prices go up. This is part of the psychology which in the end must be broken, reversed, for prices to start coming back down.
Excellent. Just slow down dollar production. Reduce M1. Slowly. Cut all federal agency budgets by one or two percent a year until our budget is balanced. Across the board To reduce infighting from treehugger's and entitlement. If done a little bit at a time to everybody it should be politically palatable. But most are ignorant of the situation.
With our extensive supply of ‘liquid gold’ in our land, couldn’t we become the world supplier of energy and with the funds earned couldn’t we reduce the debt. Also, we could easily get rid of the department of energy and department of education. AP
Interesting thought but so far from being realistic in America. Joel does a good job keeping us abreast of the magic Milei is doing in Argentina. However, comparing Argentina to the U.S. is crazy. Argentina has NO Deep State, no world controlling elites, no Globalist, no foreign wars, no world fiat currency, hardly a military. It is a backwater banana republic.
I hate to pop Bill's bubble, but the Firepower Industry didn't drive the train to the nation's humongous debt.
The blame goes to our elected representatives. Historians will forever wonder why the form of government of the once mighty and majestic USA allowed perpetual over-spending year after year after year.
The blame for needless wars also goes to our elected representatives; especially to two presidents -- Lyndon Johnson and George Bush and his dark shadow Dick Chaney
These three guys waged three hideously costly wars for emotional reasons. Our opponents -- each third world countries -- didn't attack us; we attacked them. And we lost all three.
Our Defense contractors didn't create these three wars, or for that matter, any war; they build things to allow our forces and our allies to prevail.
Bill also fails to observe that wars are part of human existence. One or more have been on going since recorded history.
But the MIC does lobby for more wars and defense spending. They have plenty of money to offer legal bribes, campaign contributions, to the CONgress Critters. And like the Earl Scruggs Revue once sang: Every man has got his own price.
They lobby to have their solutions funded; not their competitors. They certainly don't lobby for more wars. They don't need to; more wars are inevitable
If they don't lobby for wars, they at least lobby for more enemies. How many retired generals and colonels appear on news programs talking about the dangers of Russia, China, Iran, etc? You don't think that the MIC was licking its chops when Russia invaded Ukraine?
Total public debt is rising exponentially (see the Fed's graph), Implying that GDP would have to rise exponentially at a higher rate (larger exponent) to raise income of society but if that was happening? Then debt could easily be reduced AND the value of money would be increasing without printing any extra (because the money earned / saved) would be increasing faster than debt. BUT we are printing extra and total public debt is growing higher so,... is GDP growing faster? Seems to me that GDP is growing slower, total debt is growing higher and we haven't really stopped printing and we are experiencing inflation (defaulting upon our debt).
So I guess the promise of politicians (those promising economic growth and a better life through the way they run the government) isn't working out so well or maybe society just needs to wait a little longer for results or maybe the next political promise will turn out positive. Personally I'm looking at it like they have an extremely long record of failure with their credit creating policies. I'm ready to go back to a system of balanced budgets and constraints on spenders (the elite deciding policy). The unfettered economy produced far greater growth in the balanced budget era. Seems these guys promising a better life through their wisdom of how to influence the economy haven't really had any positive effect over the long term.
Bravo, Brother Mac! Government has an extremely long record of failure. To cover that, they buy votes. So, let me see...maybe voting is the problem? And why would that be? Maybe because we're not smart enough to govern ourselves? Just speculating, you understand... Best always. PM
There are "other" systems of government. We the people have to explore and pick a better one. One that would cut out corruption and all the other maleficence of mankind. But which one? that is between You and Our Creator.
Bonner has constantly reinforced the idea that most everything was fine until 1999 when things started to get out of control. In one sense that may be true, but the problems started long before that. So, it was nice to see him acknowledge, however briefly, that the problems dated back to FDR. That's when the seeds of the welfare state were planted and later expanded by LBJ. This changed American society in that handouts became acceptable. The rest was inevitable. Of course, not choosing our battles wisely also contributed. I also agree with his criticism of Reagan. Reagan had an opportunity to shrink the government. He did not.
Trump did address the debt briefly in his RNC address ... basically saying by lowering the cost of fuel and eliminating the cost of the Green New Scam the economy will be jumpstarted creating $ to pay off the debt (his plan was broader; this is a simplification).
Trump’s speech was long and rambling. There were things he could do, close the border, drill baby drill, stop the alternative energy stupidity( 90% made in China), sell in the US build in the US; he could stop the war in Ukraine by legitimately negotiating with Russia : no NATO, losing Dumbas; he can’t lower inflation, he contributed to inflation.
The only way to fiscal sanity is splintering the CIA and dismantling the war machine. Trump supports the genocide in Palestine.
Americans and especially congressmen support this crazy concept of Empire.
The concepts that govern the American mind are ridiculous, 70 years of lies and misinformation.
Saving America is possible, some drug addicts come back from the brink of self destruction … but, very few.
Instead of printing more paper money, can’t the Fed’s simply add 12 zeros the Federal Reserve Account?
Honestly, very simple, login to the account, go to balance, put the cursor behind the first number (if it’s a zero, then add a 3) followed by 12 zeros. Log out, and there you have it.
Then when China, Ukraine, Russia or any of those Bozos call, all they have to is simply transfer some money from the 3 trillion dollar account. Who’s gonna know huh? Who’s gonna know?
Bill Bonner: “The other big component is Social Security/Medicare.”
Joe Biden: “We finally beat Medicare.”
President Trump “He’s right, he beat it to death.”
‘By lowering rates (and printing money) it causes prices to rise, and reduces the real value of its own debt.’
But the debt is still increasing… exponentially and whilst the debt level to this point may be worth less the overall burden remains the same… more or less.
The only way out is to increase interest rates … higher consumer prices will boost production (the cure to higher prices is higher prices) and decrease money flowing into speculative (non-productive) investments.
You are correct. FDR really started the welfare state with his democrat fascists, then it was greatly expanded by LBJ. My understanding is that Nixon did what he did (severing gold from the dollar) because European countries wanted the US debt that they held paid off in gold - and we didn't have enough gold. However, rather than correct the problem, Nixon and every President that followed, ignored the issue of putting the dollar back on the gold standard.
It’s an interesting concept. Roosevelt is a hero of mine but did he start the system we have today or did he save people from a form of capitalism, large international corporations. It’s interesting but probably mute, international corporation won or at least what we call the deep state and people lost.
Something he formed the base of worked; we had super success from the 50’s through the 90’s.
I don’t know how I would run the world.
The economy prospers when people work, produce efficiently. We can certainly see the impact of that over 50 years. The last 20 years have been out of control. Just the aberrations of an elite class. Leaders without morals, divorced from God.
It seems nothing works that humanity or certain humans are out of control.
Roosevelt’s goal was always the welfare of people; that sentiment has ceased to exist.
Bill harps on the financial, the ruination of money, a store of value. I guess we always have Bitcoin. And if we have Bitcoin we would need less government. If it is not Bitcoin it must be something else, gold perhaps but it is heavy .
Bob - couldn't agree more except the "stooges" are in Congress. That is where the Deep State gets its fundings and pays its kickbacks. Probably time to break-out "Atlas Shrugged" again. Ol' Alisa Zinov'yevna Rosenbaum (maiden name) was a Russian Jew and supported Israel until she became an devout atheist late in life trading her religion for her philosophy. Born in 1905 she lived through the 1917 Bolshevik Revolution, Civil War, and she escaped (today we would say migrated) as Stalin came into power. So she experienced a thing or two about the Elites and their contempt for the masses (that would be us proles). She created her "heaven" during the chaos in Atlas Shrugged in "JGG" - John Galt's Gulch. I think that is where we find ourselves in today's America. There will be an apocalypse in America if it continues to follow the socialist path. And, unfortunately, there was nothing I heard last night that gives any hope. Time to Buckle Up! It ain't going to get any better.
When the citizen rationalizes a dollar saved in their youth that is also backed by gold is worth a dollar at retirement, they might come to realize they've been robbed of their labor. There's not much difference between working for nothing and slavery, in both cases the workers is not paid their due.
If not for the many media and entertainment distractions, there'd rightly be a shortage of tar and feathers.
Why not issue zero coupon 50-year bonds backed fractionally by gold and use them to buy back outstanding debt? Next, cut spending with massive lay-offs of federal workers and merge and or shut down entire agencies of the government. At the same time build the private sector by rebuilding our bridges and roads, onshoring our industries, and achieving energy independence. Edit: Oh I almost
forgot we would all have to get our hands dirty again, to make America Great Again.
Once a civilization gets too important to do its own dirty work, it's over. Our labor force is all on welfare, excuse me "electronic benefits transfers", so we have to import 3rd world miserables to do it. We've gotten so rotten, we can't make anything for ourselves, so we "offshore" our ability to value-add, and so, we create no capital. You know the rest, Best always. PM
Mr. Murray, Excellent points from you, as usual. But I’m not sure the “3rd world miserables” are doing as much dirty work as they used to. According to some writers from the Heritage Foundation, these miserables have in fact done the dirty work since the 1970s---until about 15 years ago, when they started depending heavily on govt. aid, while piling 8-to-12 into small, cheap houses/apartments in U.S. third-world cities and pooling their govt. aid. They might work part-time, but their work ethic is nothing like the miserables who preceded them the previous 40 years or so (1970-2010). They are heavily wards of the state, who, God forbid, if ever legalized, would vote for endless amounts of govt. aid.
And I’m glad to read that you and Mr. Bouchard understand that offshoring (i.e., the dismantling of much of the U.S. industrial base) has also contributed mightily to the enormous debt run-up, not just warmongering. Bill continues to harp on warmongering, which is good. But there are other factors involved pertaining to this debt craziness, such as off-shoring.
And I’m afraid, with so many soft Americans hooked on debt, this debt-for-jobs nonsense begun in the 21st Century will continue until a collapse occurs. (Cut the debt in a major way, thus resulting in millions of jobs lost. Get tossed out of the WH/Congress. So how does it stop?) I mostly blame the folks, not their representatives. Financial ignorance among most American people (outside their own little world) is a terrifying threat to freedom. And “ignorance” does not necessarily mean “stupidity.” Folks with high I.Q.s can be ignorant about many things.
Agreed. There's ignorance, and then there's WILLFUL ignorance. I have learned there are people who can deal with reality, but more and many who simply can't. They do not have the right emotional makeup. Yes, we have plenty of otherwise smart people, who are willfully ignorant, just like there are phonies, and what Truman Capote called "genuine phonies" who actually believe their stuff and nonsense. I'm sorry; we're going to have to experience the decline and crash like every other civilization in history. The only variables are how violent it will be and how long it will take. Perhaps we're fortunate, and we just continue our pitiful ways into blissful and addled oblivion. Meanwhile the "foxes" pursue their scam. Best always. PM
Why not simply fire several million government employees immediately, cancel billions of dollars worth of arms orders, put America in the monthly black in 6 months as Argentina has done? It's just one presidential vote away, but nobody on this continent is willing to risk picking up JFK's chainsaw - or even talk about it.
Christ taught us that some people have to sleep & slop with the pigs for a while before they come to themselves - and take the simple, humble steps to come home.
We have been prodigally eating our young for 50 years. This world may not have enough decades to MAGA, but maybe 50 years from now.
Why not simply? You know why not. If we could do that, we would not have come to this pass in the first place. Best always. PM
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
W.B. Yeats
In my very first Economics course in college the professor gave a lecture on the “The foundational and psychological components of Inflation”. It remains, to this day, one of the best academic discourses on the topic of economics I have ever heard or read. The professor started with the standard definition on inflation: “too many dollars chasing too few goods”, he emphasized that inflation was always and everywhere caused by governments, emphasizing the fiscal and (especially) the monetary policy components, the economic relationship between interest rates and inflation, the role of currency exchange rates and the role exchange rates play in hyperinflation, the importance and role of healthy labor markets and supply chains and how disruptions to these vital economic engines(for any reason, especially war) can trigger and sustain high inflation.
But the most fascinating part of the lecture was his discussion of the psychology of inflation. His view was that once inflation had started, once bad government policy had taken its toll and the inflation cycle started, that the ongoing psychology was perhaps the most important factor in ending it. He explained that there has always been a strong psychological component to inflation involving both expectations and opportunism. The inflation opportunists simply raise prices because they can, not because their costs have risen. Enough opportunists and everyone’s prices go up. This is part of the psychology which in the end must be broken, reversed, for prices to start coming back down.
Excellent. Just slow down dollar production. Reduce M1. Slowly. Cut all federal agency budgets by one or two percent a year until our budget is balanced. Across the board To reduce infighting from treehugger's and entitlement. If done a little bit at a time to everybody it should be politically palatable. But most are ignorant of the situation.
Bill:
With our extensive supply of ‘liquid gold’ in our land, couldn’t we become the world supplier of energy and with the funds earned couldn’t we reduce the debt. Also, we could easily get rid of the department of energy and department of education. AP
I suppose it would be impolite to speak about Javier Milei at the RNC.
Interesting thought but so far from being realistic in America. Joel does a good job keeping us abreast of the magic Milei is doing in Argentina. However, comparing Argentina to the U.S. is crazy. Argentina has NO Deep State, no world controlling elites, no Globalist, no foreign wars, no world fiat currency, hardly a military. It is a backwater banana republic.
It is now but it wasn't back then. "So as you sow so shall you reap." Hopefully they can continue on their path to growth and stability.
😂😂😂😂😂
I hate to pop Bill's bubble, but the Firepower Industry didn't drive the train to the nation's humongous debt.
The blame goes to our elected representatives. Historians will forever wonder why the form of government of the once mighty and majestic USA allowed perpetual over-spending year after year after year.
The blame for needless wars also goes to our elected representatives; especially to two presidents -- Lyndon Johnson and George Bush and his dark shadow Dick Chaney
These three guys waged three hideously costly wars for emotional reasons. Our opponents -- each third world countries -- didn't attack us; we attacked them. And we lost all three.
Our Defense contractors didn't create these three wars, or for that matter, any war; they build things to allow our forces and our allies to prevail.
Bill also fails to observe that wars are part of human existence. One or more have been on going since recorded history.
But the MIC does lobby for more wars and defense spending. They have plenty of money to offer legal bribes, campaign contributions, to the CONgress Critters. And like the Earl Scruggs Revue once sang: Every man has got his own price.
Mr. Cartero amen!
They lobby to have their solutions funded; not their competitors. They certainly don't lobby for more wars. They don't need to; more wars are inevitable
If they don't lobby for wars, they at least lobby for more enemies. How many retired generals and colonels appear on news programs talking about the dangers of Russia, China, Iran, etc? You don't think that the MIC was licking its chops when Russia invaded Ukraine?
Total public debt is rising exponentially (see the Fed's graph), Implying that GDP would have to rise exponentially at a higher rate (larger exponent) to raise income of society but if that was happening? Then debt could easily be reduced AND the value of money would be increasing without printing any extra (because the money earned / saved) would be increasing faster than debt. BUT we are printing extra and total public debt is growing higher so,... is GDP growing faster? Seems to me that GDP is growing slower, total debt is growing higher and we haven't really stopped printing and we are experiencing inflation (defaulting upon our debt).
So I guess the promise of politicians (those promising economic growth and a better life through the way they run the government) isn't working out so well or maybe society just needs to wait a little longer for results or maybe the next political promise will turn out positive. Personally I'm looking at it like they have an extremely long record of failure with their credit creating policies. I'm ready to go back to a system of balanced budgets and constraints on spenders (the elite deciding policy). The unfettered economy produced far greater growth in the balanced budget era. Seems these guys promising a better life through their wisdom of how to influence the economy haven't really had any positive effect over the long term.
Bravo, Brother Mac! Government has an extremely long record of failure. To cover that, they buy votes. So, let me see...maybe voting is the problem? And why would that be? Maybe because we're not smart enough to govern ourselves? Just speculating, you understand... Best always. PM
There are "other" systems of government. We the people have to explore and pick a better one. One that would cut out corruption and all the other maleficence of mankind. But which one? that is between You and Our Creator.
Seriously - "explore and pick". Gave me a good chuckle. That ain't going to happen. There is hell to pay first and it cometh.
You may be right, but You may be wrong! My opinion on what I wrote before and now. Perhaps You may explore other systems. Just saying!
Those who line up for a fork and demand more pork might be a part of the problem or are they the same bunch? (voters)
Seems likely but on the other hand they aren't smart enough to govern us either.
Bonner has constantly reinforced the idea that most everything was fine until 1999 when things started to get out of control. In one sense that may be true, but the problems started long before that. So, it was nice to see him acknowledge, however briefly, that the problems dated back to FDR. That's when the seeds of the welfare state were planted and later expanded by LBJ. This changed American society in that handouts became acceptable. The rest was inevitable. Of course, not choosing our battles wisely also contributed. I also agree with his criticism of Reagan. Reagan had an opportunity to shrink the government. He did not.
When did the left become the warmongers?
Trump did address the debt briefly in his RNC address ... basically saying by lowering the cost of fuel and eliminating the cost of the Green New Scam the economy will be jumpstarted creating $ to pay off the debt (his plan was broader; this is a simplification).
S: Will wonders never cease?
Trump’s speech was long and rambling. There were things he could do, close the border, drill baby drill, stop the alternative energy stupidity( 90% made in China), sell in the US build in the US; he could stop the war in Ukraine by legitimately negotiating with Russia : no NATO, losing Dumbas; he can’t lower inflation, he contributed to inflation.
The only way to fiscal sanity is splintering the CIA and dismantling the war machine. Trump supports the genocide in Palestine.
Americans and especially congressmen support this crazy concept of Empire.
The concepts that govern the American mind are ridiculous, 70 years of lies and misinformation.
Saving America is possible, some drug addicts come back from the brink of self destruction … but, very few.
Instead of printing more paper money, can’t the Fed’s simply add 12 zeros the Federal Reserve Account?
Honestly, very simple, login to the account, go to balance, put the cursor behind the first number (if it’s a zero, then add a 3) followed by 12 zeros. Log out, and there you have it.
Then when China, Ukraine, Russia or any of those Bozos call, all they have to is simply transfer some money from the 3 trillion dollar account. Who’s gonna know huh? Who’s gonna know?
Bill Bonner: “The other big component is Social Security/Medicare.”
Joe Biden: “We finally beat Medicare.”
President Trump “He’s right, he beat it to death.”
Hahahaha!😂😂😂
‘By lowering rates (and printing money) it causes prices to rise, and reduces the real value of its own debt.’
But the debt is still increasing… exponentially and whilst the debt level to this point may be worth less the overall burden remains the same… more or less.
The only way out is to increase interest rates … higher consumer prices will boost production (the cure to higher prices is higher prices) and decrease money flowing into speculative (non-productive) investments.
Why always Nixon? How about identifying debt with the President who first started the debt?
"Roosevelt " What did he ever do to reduce it? How about the paper value of Gold under
Roosevelt? One president started (a Democrat) what another president (a Republican) had to stop? Correct? leh
You are correct. FDR really started the welfare state with his democrat fascists, then it was greatly expanded by LBJ. My understanding is that Nixon did what he did (severing gold from the dollar) because European countries wanted the US debt that they held paid off in gold - and we didn't have enough gold. However, rather than correct the problem, Nixon and every President that followed, ignored the issue of putting the dollar back on the gold standard.
It’s an interesting concept. Roosevelt is a hero of mine but did he start the system we have today or did he save people from a form of capitalism, large international corporations. It’s interesting but probably mute, international corporation won or at least what we call the deep state and people lost.
Something he formed the base of worked; we had super success from the 50’s through the 90’s.
I don’t know how I would run the world.
The economy prospers when people work, produce efficiently. We can certainly see the impact of that over 50 years. The last 20 years have been out of control. Just the aberrations of an elite class. Leaders without morals, divorced from God.
It seems nothing works that humanity or certain humans are out of control.
Roosevelt’s goal was always the welfare of people; that sentiment has ceased to exist.
Bill harps on the financial, the ruination of money, a store of value. I guess we always have Bitcoin. And if we have Bitcoin we would need less government. If it is not Bitcoin it must be something else, gold perhaps but it is heavy .
Well written and so true. Military Industrial Complex calls the shots along with their stooges in the press.
Bob - couldn't agree more except the "stooges" are in Congress. That is where the Deep State gets its fundings and pays its kickbacks. Probably time to break-out "Atlas Shrugged" again. Ol' Alisa Zinov'yevna Rosenbaum (maiden name) was a Russian Jew and supported Israel until she became an devout atheist late in life trading her religion for her philosophy. Born in 1905 she lived through the 1917 Bolshevik Revolution, Civil War, and she escaped (today we would say migrated) as Stalin came into power. So she experienced a thing or two about the Elites and their contempt for the masses (that would be us proles). She created her "heaven" during the chaos in Atlas Shrugged in "JGG" - John Galt's Gulch. I think that is where we find ourselves in today's America. There will be an apocalypse in America if it continues to follow the socialist path. And, unfortunately, there was nothing I heard last night that gives any hope. Time to Buckle Up! It ain't going to get any better.
When the citizen rationalizes a dollar saved in their youth that is also backed by gold is worth a dollar at retirement, they might come to realize they've been robbed of their labor. There's not much difference between working for nothing and slavery, in both cases the workers is not paid their due.
If not for the many media and entertainment distractions, there'd rightly be a shortage of tar and feathers.
How who to put it right?