Spending more than they can afford has become a habit. And not one they want to give up. It buys them votes. And campaign contributions. And sinecures.
Speaking of excessive spending the US spends 6x more than Russia on defense spending. Maybe we are getting enough "bang" for our buck? Remember when Rumsfield said they couldn't account for more than a trillion dollars? Plus the Defense Department has not passed an audit in a long time. Since Trump and Musk are businessmen why not focus on the DoD for cost savings?
As usual, whatever they uncover is meaningless beyond stoking Outrage - our Congress MUST take the findings and begin the cutting/slashing/burning. I'm not optimistic about that happening, nor you giving any credit where it is due when these things come to pass...
Do you believe the DOGE boys have the knowledge and experience to determine why Russia can develop effective weapons while spending about 16% of US expenditures? Neither political party seems willing to take a look at this. in fact, defense spending increases under both parties.
Cartaro. I saw Putin give a speech a couple of years back regarding his defense budget. He said America builds weapons to make money, they make weapons to kill people. I believe that is the difference.
Bill, you're engaging in Democrat doublespeak . Tax collections continue to set records year after year. It's not tax revenue that is the problem. It's the spending plain and simple so let's focus on that and leave tax revenue arguments for another day.
Im not sure if tax collections continue to set records. At least based on several sources its possible it may have increased but pick a time line.
I've come to the conclusion that The Great Reset as its dubbed endlessly is not that great. I call it the great re-write into another fiat and its not the car company. Its not knew either, its been done may times where you cash in one fiat for another fiat. Fix it again Tony.
In the movie, "Goldfinger" (1964), as James Bond (Sean Connery) comes to only to find himself "captive" of a woman calling herself Pussy Galore, he remarks, "I must be dreaming", this report sounds too good to be true. Best always. PM
I like your comment but the best line in the movie is where Connery, James Bond. says 'Do you expect me to talk." This is as the laser is cutting through steel and is progressing slowly to his crotch, private parts. And Gold Finger says "Why, no Mister Bond. I expect you to die."
"NEAR FAR...WHEVER YOU ARE ARE....I WILL ALWAYS... GO..
Holy shit we have no wifi down here? Who are always poor bastards who work for a living? There's not a subscriber within 3000 miles! I know how to text for service. Bmw.. Bring my wheelchair. BFF. ... Best friend fell. ADO.. Doctor's office. JSM .. Just sh## myself.
Long-term calculations/assumptions/predictions have a nasty habit. They never ever hold water.
The one exception is demographics.
There are so many variables in play, especially in economical behaviour, development and surprises (aka inventions or black swans) it's just an utter waist of time and effort to recycle such figures.... especially if done so on a weekly basis.
The grand difference in spending is the left spends and gives to the most useless people and unproductive of society while the right spends for productivity and useful objectives. Of course the most useless of society are the ones who protest the most 🤔
Your editor, however, makes a poor dinner companion. Others are rarely interested in the decline of the late, degenerate empire. (Neither is he, but it is his only subject of conversation.)
Meh - he seems very adept at switching from the gleefully-anticipated Gloom-and-Doom to "Gee, Trump sure sucks - let me tell you all these reasons I made up"....
You say we need immigrants to maintain growth. I’m not sure I understand the necessity for growth. It’s always presented as more is better and less is something to be worried about. More is not always better. Is the nation a child that needs to grow. Does it ever become an adult or just overweight? Perhaps growth is meant to compensate for inflation. My income should grow, my investments should also. But if the cost of things grows more, then we should look at the costs of growth and again……… Cui bono.
Having had similar experience on "cruises", aka SHAKEDOWNS, whether I take the middle cabins or the outrageously priced upper cabins, the result is the same: getting less while it appears I'm getting more. Enjoying this commonality with Mr. Bonner, I read raptly his every detail and word, his wry and insightful observations concerning the beginning of his trip, thinking, "Wow, this is the Bill Bonner I once knew!" and then, just as suddenly, it was over. Knowing the rest of the spiel by heart, I skipped to the comments section. Bon Voyage, indeed. Best always. PM
I took a cruise to Chile, 13 days, repositioning, in 2013. It cost 1k. I don’t drink, don’t gamble except in the stock mkt. I slept on deck, worked out at 2:00 AM, ate sushi, fruit and salad in the cafeteria and lost 6 lbs. I had a wonderful time.
Yes, I understand. But I just can't get rid of the thought (granted, in the theater of the absurd), that as the ship goes down after striking an iceberg, Bill is throwing old ladies over the sides so he can get to a lifeboat.
Again, the question remains. What are the US federal in ground metals (precious and all others) in our mostly western states and Alaska worth? I've seen estimates in the "trillions". Can, if and will these metals be mined? If so, will congress pass laws that require continuing balanced budgets and the profits from these mined metals apply only to pay off our debt? You bet, when they have snow ball fights in hell. However. I know it's a crazy solution but you youngsters certainly can come up with some real solutions.
Dear Bill. I thank you for the lead off to this article. As a 86year old former destroyer sailor we were able to sail over two oceans and five of the seven seas. We saw the beauty of spacious oceans and the terrible fury of them also. This hymn has always had a special place in my heart as I remember that fury. What an experience it was.
Yes indeed, a special place. Always part of every US Naval Academy church service….and also when we held the somber underway memorial service for a fellow Naval Aviator lost at sea.
My wife & I sailed on the Quenn Mary from Southampton to NYC & yes the furnishings are garish but i enjoyed numerous bouts of Texas Hold’em with young Icelandic couple who were playing for the first time along with 50% of the table. Whatta a hoot!
Speaking of excessive spending the US spends 6x more than Russia on defense spending. Maybe we are getting enough "bang" for our buck? Remember when Rumsfield said they couldn't account for more than a trillion dollars? Plus the Defense Department has not passed an audit in a long time. Since Trump and Musk are businessmen why not focus on the DoD for cost savings?
Patience, Grasshopper - DoD is on the List:
https://thefederalist.com/2025/03/05/the-pentagons-850b-nightmare-will-be-doges-biggest-challenge-yet/
https://www.defense.gov/News/News-Stories/Article/Article/4096431/initial-doge-findings-reveal-80-million-in-wasteful-spending-at-dod/
https://newrepublic.com/article/191611/doge-targeting-wrong-agencies
As usual, whatever they uncover is meaningless beyond stoking Outrage - our Congress MUST take the findings and begin the cutting/slashing/burning. I'm not optimistic about that happening, nor you giving any credit where it is due when these things come to pass...
Do you believe the DOGE boys have the knowledge and experience to determine why Russia can develop effective weapons while spending about 16% of US expenditures? Neither political party seems willing to take a look at this. in fact, defense spending increases under both parties.
https://rationaloptimistsociety.com/so/e2PNUA3tG?languageTag=en&cid=aa30abc8-4930-486a-97dc-01fc0c1ef73b
Cartaro. I saw Putin give a speech a couple of years back regarding his defense budget. He said America builds weapons to make money, they make weapons to kill people. I believe that is the difference.
"Let’s see…lower tax collections…lower growth…more debt."
Bill, you're engaging in Democrat doublespeak . Tax collections continue to set records year after year. It's not tax revenue that is the problem. It's the spending plain and simple so let's focus on that and leave tax revenue arguments for another day.
but if we do that, how will he attack Trump!
Fear not! Bill is ever so resourceful.
Bill is great at highlighting "Historical Evidence" - until it indicates that Trump/Conservatives/republicans might be doing something right...
The historical evidence is the problem isn’t it?
Im not sure if tax collections continue to set records. At least based on several sources its possible it may have increased but pick a time line.
I've come to the conclusion that The Great Reset as its dubbed endlessly is not that great. I call it the great re-write into another fiat and its not the car company. Its not knew either, its been done may times where you cash in one fiat for another fiat. Fix it again Tony.
Yes, record tax receipts every year except one.
https://fred.stlouisfed.org/series/W006RC1Q027SBEA/
Might Bill have booked steerage for a more authentic journey to Ireland.
I heard on a Joe Rogan podcast, Russia is selling a cruise wherein the passengers are given an opportunity to fire machine guns at Somalia pirates.
In the movie, "Goldfinger" (1964), as James Bond (Sean Connery) comes to only to find himself "captive" of a woman calling herself Pussy Galore, he remarks, "I must be dreaming", this report sounds too good to be true. Best always. PM
I like your comment but the best line in the movie is where Connery, James Bond. says 'Do you expect me to talk." This is as the laser is cutting through steel and is progressing slowly to his crotch, private parts. And Gold Finger says "Why, no Mister Bond. I expect you to die."
"NEAR FAR...WHEVER YOU ARE ARE....I WILL ALWAYS... GO..
Holy shit we have no wifi down here? Who are always poor bastards who work for a living? There's not a subscriber within 3000 miles! I know how to text for service. Bmw.. Bring my wheelchair. BFF. ... Best friend fell. ADO.. Doctor's office. JSM .. Just sh## myself.
Now that's a cruise I'd be willing to pay for. 👍
And you can enjoy the rags and boiled potatoes.
during your near starvation. You come to work. You come to build a better life for your family. No welfare no benefits no cellphone.
When the jobs come back we will bring excellent people from all over the world. People are affected of course.
A more general view:
Long-term calculations/assumptions/predictions have a nasty habit. They never ever hold water.
The one exception is demographics.
There are so many variables in play, especially in economical behaviour, development and surprises (aka inventions or black swans) it's just an utter waist of time and effort to recycle such figures.... especially if done so on a weekly basis.
But it O' So "justifies" the Trump-Hate - and can still catch the occasional rube reader into its Fallacy...
Waist =Taille Waste = Verschwendung. Best always. PM
Thanks Paul. Autocorrection at play.
The grand difference in spending is the left spends and gives to the most useless people and unproductive of society while the right spends for productivity and useful objectives. Of course the most useless of society are the ones who protest the most 🤔
Isn't that exactly how to curry favor? Bonner himself admits it's vote-buying. Best always. PM
The insane supplying the demented 🤔
TWO laughs for the day! (The first being Frank Hayes' "no surprise"). Thanks and best always. PM
"Of course the most useless of society are the ones who protest the most." Steve L
They'd be more useful if they didn't spend all of their time protesting.
But that's their job and they are paid for it!
Your editor, however, makes a poor dinner companion. Others are rarely interested in the decline of the late, degenerate empire. (Neither is he, but it is his only subject of conversation.)
No surprise there...eh, Bucko.
LOL thanks for my laugh of the day. Best always. PM
Meh - he seems very adept at switching from the gleefully-anticipated Gloom-and-Doom to "Gee, Trump sure sucks - let me tell you all these reasons I made up"....
Voyaging from the land of the robber baron to that of the moralizing asshole, as C.S. Lewis would have it.
You say we need immigrants to maintain growth. I’m not sure I understand the necessity for growth. It’s always presented as more is better and less is something to be worried about. More is not always better. Is the nation a child that needs to grow. Does it ever become an adult or just overweight? Perhaps growth is meant to compensate for inflation. My income should grow, my investments should also. But if the cost of things grows more, then we should look at the costs of growth and again……… Cui bono.
Having had similar experience on "cruises", aka SHAKEDOWNS, whether I take the middle cabins or the outrageously priced upper cabins, the result is the same: getting less while it appears I'm getting more. Enjoying this commonality with Mr. Bonner, I read raptly his every detail and word, his wry and insightful observations concerning the beginning of his trip, thinking, "Wow, this is the Bill Bonner I once knew!" and then, just as suddenly, it was over. Knowing the rest of the spiel by heart, I skipped to the comments section. Bon Voyage, indeed. Best always. PM
I took a cruise to Chile, 13 days, repositioning, in 2013. It cost 1k. I don’t drink, don’t gamble except in the stock mkt. I slept on deck, worked out at 2:00 AM, ate sushi, fruit and salad in the cafeteria and lost 6 lbs. I had a wonderful time.
Iceberg, anyone! LOL! Don't really mean it, just a joke, but it is kind of funny.
I had a similar thought, and I was a little ashamed, but still... Best always. PM
Yes, I understand. But I just can't get rid of the thought (granted, in the theater of the absurd), that as the ship goes down after striking an iceberg, Bill is throwing old ladies over the sides so he can get to a lifeboat.
Crikey, that's a bit much, I'm choking! Ha ha ha
The most astounding remark in this missive (to me of course) is the Trump style decor....
What a promotion ❗
got to get the digs in, its the only fun the old man gets lately....
Wish I was physically on board with you. Then we could discuss ideas on transforming all of this wild opportunity into beautiful co-creation.
Heaven on earth.
(Ah, it's all ready here.)
Appreciate your invaluable insights.
Safe Travels, Bill.
❤️
Reading your comment, at the second line, I hear the Platters for the rest of it. Best always. PM
Heaven on Earth, The Platters (Mercury Records, 1956) (the "B' side to 'My Prayer" and damn-near as good.) https://www.youtube.com/watch?v=TchM3o4WyLc
Again, the question remains. What are the US federal in ground metals (precious and all others) in our mostly western states and Alaska worth? I've seen estimates in the "trillions". Can, if and will these metals be mined? If so, will congress pass laws that require continuing balanced budgets and the profits from these mined metals apply only to pay off our debt? You bet, when they have snow ball fights in hell. However. I know it's a crazy solution but you youngsters certainly can come up with some real solutions.
Dear Bill. I thank you for the lead off to this article. As a 86year old former destroyer sailor we were able to sail over two oceans and five of the seven seas. We saw the beauty of spacious oceans and the terrible fury of them also. This hymn has always had a special place in my heart as I remember that fury. What an experience it was.
Yes indeed, a special place. Always part of every US Naval Academy church service….and also when we held the somber underway memorial service for a fellow Naval Aviator lost at sea.
Enjoy your cruise and the old country! Don't worry about something that you can't control, just deal with it the best you can.
Addicts seldom change their behavior until they hit rock bottom. Often the bottom is six feet under.
Or when their stolen tax dollars get cut-off and their billionaire backers don't really believe in "The Message" enough to pony up their own scratch.
We're getting there....
My wife & I sailed on the Quenn Mary from Southampton to NYC & yes the furnishings are garish but i enjoyed numerous bouts of Texas Hold’em with young Icelandic couple who were playing for the first time along with 50% of the table. Whatta a hoot!