Tale of Two Disruptors
The pattern is always the same. An elite gains control of a government. It tightens its grip and becomes more corrupt and incompetent, as well as further removed from The People it is meant to serve.
Monday, May 19th, 2025
Bill Bonner, from the ranch at Gualfin, Salta Province
“President Trump, keep making America great.”
Glen Rogers (known as the "Casanova Killer”, as he lay strapped to an execution gurney at the Florida State Prison.)
When we last wrote, the ranch hands threatened to settle scores the old-fashioned way — with fists and knives.
The one who felt most aggrieved — accused of rape, banned from visiting his family… and now cuckolded by another of the gauchos — was about to go to war.
Fortunately, our lawyer was able to talk him out of it…pointing out that another run-in with the law would go very badly for him. He then said he was leaving. As of this morning, we have no further word. Maybe it will blow over?
So, let us turn to the bigger, wider, and even wackier world beyond the Calchaqui Valley.
For there we are witness to one of the most remarkable phenomena in economic history. One nation is headed down in classic style — by spending too much and trying to impose its will far beyond its borders. Another country is going the other way…making a comeback after seven decades of relative decline.
Catching up on what happened since Friday morning…even Trump’s own party couldn’t stand his Big Beautiful Bill. Reuters:
Republicans reject Trump tax-cut bill…
WASHINGTON (Reuters) -U.S. President Donald Trump's sweeping tax bill failed to clear a key procedural hurdle on Friday, as hardline Republicans demanding deeper spending cuts blocked the measure in a rare political setback for the Republican president in Congress.
As written, the bill would add trillions of dollars to the federal government's $36.2 trillion in debt over the next decade. In addition to extending the 2017 tax cuts that were Trump's signature first-term legislative achievement, it would eliminate taxes on some tips and overtime income, boost defense spending and provide more funds for Trump's border crackdown.
Then, Moody’s decided it was time to cut America’s credit rating:
The agency said it did not see a real effort by the government to cut spending and that it expected the U.S.'s fiscal performance to deteriorate compared with other highly developed economies. It said the nation's long-term growth will be significantly hurt by tariffs and that it expected the U.S.'s federal debt burden to rise to about 134% of GDP by 2035.
Republicans then went back to work on Sunday. The Wall Street Journal reports:
WASHINGTON—House Republicans pushed President Trump’s “big, beautiful” tax-and-spending bill past a key hurdle late Sunday night, but the last-minute grappling has them colliding with a stark reality: The plan won’t reduce federal budget deficits and would make America’s fiscal hole deeper.
In other words, more of the same…
South of the Rio de la Plata, meanwhile, Argentina had its debt rating upgraded by Fitch. The Buenos Aires Times:
The change comes against a backdrop of bullishness toward Argentina as President Javier Milei pledges to restore economic growth with an extensive reform agenda. The country’s debt was one of the best performing investments in emerging markets last year.
Democracy, autocracy…any kind of crazy you want…the pattern is always the same. An elite gains control of a government. It tightens its grip and becomes more corrupt and incompetent, as well as further removed from ‘The People’ it is meant to serve. Usually, it takes a catastrophic event — war, bankruptcy, plague, revolution or hyperinflation — in order to have a reset.
But no genuine catastrophe beset the pampas. It was merely the victim of 70 years of bad government. Like Donald Trump, Javier Milei won election as President, nearly 18 months ago, as a ‘disruptor.’ Since the 1940s, Argentina slipped further and further behind other rich, developed nations. Voters were tired of it. They elected him to fix things; he’s doing it.
Unlike Trump, Milei went to work on the drive train, not just the upholstery.
Donald Trump, who is apparently still popular with serial killers, did not make cutting spending a priority. Mr. Milei did. The Buenos Aires Times reports the results so far:
Argentina’s poverty rate dropped to 38.1 percent of the population in the second half of last year – a decline of almost 15 points from the preceding half-year.
Extreme poverty, meanwhile, fell to 8.2 percent of the 47-million-strong population, down from 18.1 percent in the previous semester.
Overall, the number of those considered to be poor declined 14.8 percentage points from the middle to the end of last year – a massive advance despite the economy entering recession.
More to come…
Regards,
Bill Bonner
Trying to stay positive while Trump gives us valid bread and the rest of the "team" reorganizes the Circus. Both appear to be just enough to keep the paying customers distracted and arguing with the clowns. It's not looking good, Bruv. It's not looking good:
1. The "Big, Beautiful Bill" gets through, sans any 𝗿𝗲𝗮𝗹 𝗮𝗻𝗱 𝘀𝗶𝗴𝗻𝗶𝗳𝗶𝗰𝗮𝗻𝘁 Cuts, Savings or Cancellations. Four members of the "Freedom Caucus" hold things up for a few hours, then telegraph their willingness to continue our merry destruction with just a few minor, pet-project changes. Simultaneously, the "republican" House won't get off it's duff and instigate anything of lasting value to eventually end up on Trump's desk for signature - not even one of the low-hanging, obviously beneficent EOs where the President's team has already done the heavy lifting.
2. Kash and Dan tell us not to believe the Evidence or Facts surrounding the "demise" of one Jeffrey Epstein, nor the incredibly convenient "mistakes made" that show the Butler, PA assassination attempt has glaring signs of a Deep State, sanctioned operation. Meanwhile, their body language and faces are screaming Duress during the Maria B. interview. Did anyone replay the footage looking for a hostage blink code? Way too many "coincidences" that make the official narrative extremely unlikely in BOTH situations and in some respects, downright impossible to believe. Yet two of our high-speed "warriors" suddenly begin feeding us dubious slop while both look like deer in the midnight headlights on a slick, twisted road.
3. Scam Blondi tells us they have "tens-of-thousands of videos of 𝙀𝙥𝙨𝙩𝙚𝙞𝙣 with children, child porn." Ok, duh. Who/whom is on the rest of the videos? Her statement was a transparent signal of what comes next with regard to the general populace learning the identities of the pedophile "elite" who actually own and run everything. The signal is that we won't be seeing any specifics - probably ever. Be on the lookout near year's-end for a "release of evidence" showing us all the grainy, out-of-focus footage we could ever want of Epstein's narrow ass raping kids - then shut up and forget about the whole thing. No need to scratch the National itch on this issue - they'll keep delaying, denying and obfuscating longer than any of us can remain alive.
Am I a "Conspiracy Theorist"? Absolutely. I've seen too many Proven Lies and temporarily-successful Media Conditioning to take 𝘢𝘯𝘺𝘵𝘩𝘪𝘯𝘨 at face value, no matter who throws it up. Am I surprised at recent events? Absolutely. I was naïve and foolish enough to believe that Trump actually selected people who would put their 𝗖𝗼𝘂𝗻𝘁𝗿𝘆 𝗙𝗶𝗿𝘀𝘁 for these vital Investigative and Prosecutorial roles, regardless of the costs. For those of us in Realville, it is quickly becoming clear that our Enemies are much stronger, more deeply entrenched and copiously pernicious than we could have imagined - we are catching a glimpse of the shadow of True Evil. The government "officials" I mentioned above are probably not bad people - but it is beyond obvious there is much more at play than any of us realize and the consequences of getting Righteous Justice MUST be much worse than allowing the lies and evil to continue. I can't fathom any other cause for what we are seeing happen in real time. Sadly, the conclusion at this point is that voting ain't gonna save us - and we don't have enough honest American Patriots left to do what needs to be done to remove the widespread cancer and take back our Country.
Weep for our Children...
There's nothing to worry about. We have, diecting our affairs, a Great Helmsman who is highly experienced in the art of the bankruptcy, and he's now engineering the geatest smash up of all time. It'll be great... the biggiest...splashiest... most impactful bankruptcy of all time!