Bill Bonner has a way with words. They are as clear as a well taken photograph.
In the ultimate analysis only one thing comes to mind, competence and qualifications.
Our government comprises of those who can manipulate their way to the lucrative positions not only financially but to satisfy their enormous humongous egos.
It is not the best qualified individuals, not even close to it that rule our country. The rulers we have are those with money, connections that span for generations, strong arms and poor minds. History repeats itself. It use to be kings and his cronies and now it is the hustlers.
It will take an act of congress to change that. Did I say congress? Yes, I got hooked on relying on the least dependable, least intelligent, least qualified, least honest and most corrupted.
The kings and their cronies have changed their costumes but the show never changed.
We should just do away with the debt ceiling since it is meaningless. I understand the theoretical reason for it, but it does nothing to restrain spending or borrowing and just provides another thing to fight about. Spending authorization bills could just include language to authorize the Treasury to borrow whatever money it needs to pay for it, thus incorporating the borrowing and spending authorities into one step. Iβve only heard one person mention that Biden could have had his clean debt ceiling bill back in December when he controlled all 3 branches of government but what he really wanted was a fight to try to make the Republicans look bad.
100% agree. Only Denmark and the United States have a debt ceiling that is set at an absolute amount rather than a percentage of GDP. Congress has already spent the money on government programs, the Treasury needs to pay the bills in whatever manner necessary to protect what little is left of our credit rating.
FDR supposedly the great president of ours appointed Joe Kennedy to lead the Security and Exchange Commission. When asked why he appointed someone with a known background of improprieties known to the people, FDR responded that it takes a thief to watch a thief. They should say a great deal about the historical thinking of our government. As the saying goes, there is a right way, a wrong way and an American government way.
Would I be far off if I were to say that American government is comprised of incompetent manipulators and hustlers because it takes that kind of an individuals to have a government in the US
Interesting read (had to use my "free" article allowance since I refuse to subscribe to the WP). The main reason that Democrat Mr. Golden is in Congress is than his mostly red Republican Maine district uses ranked choice voting which tends to favor more moderate candidates like himself over the more extreme Republicans he runs against. His solution reduces the deficit, not the debt. Actually reducing the debt is impossible with the Congress filled with incompetent clowns.
Too bad that link is behind a paywall. Not gonna give MSM a penny more than I inadvertently and/or unintentionally have to, nor am I willing to add one more organization to the list of senders sending a blizzard of spam to my em account - how about you summarize the plan for us?
"To do that, Golden sets a target of reducing borrowing by $250 billion a year in each of the next two years. Half would come through spending caps such as those floated by Republicans: capping inflation-adjusted βdiscretionaryβ spending (everything other than Social Security and Medicare) at last yearβs levels, along with rescinding student debt cancellation and recapturing unspent covid funding. The other half would come from raising additional revenue in ways long favored by Democrats: raising the tax rate on big corporations to 25 percent, imposing a surtax on corporate stock buybacks and rescinding the Trump tax cut for individuals making more than $400,000 a year."
I always cringe when Bill takes off on one of his foundational principles, Free Trade.
The dollar, the mighty industrial America, was based on Alexander Hamiltonβs protectionism. He assumed it was necessary to reach the grand vision he and Benjamin Franklin had for America.
After WW2 America was last man standing, it exported everything throughout the world and it started to produce crap, become complacent.
Unions and regulations forced Made in America to other countries and other countries like Japan produced a better product.
Of course Free Trade was good for American corporations that were now international. They made money and the Americans footed the bill with higher taxes to support the coercive warfare state.
It all worked because the government helicoptered money into consumer pockets, consequently 32 trillion in debt.
I like Billβs travels and experiences. I would hardly call him an American.
America is back to square one. The country is that ruined.
Itβs time to dust off the writings and genius of Hamilton if Americans are to be saved.
But what is an American, another name for self destruction.
Well written amd analyzed Bill and Joel. Believe 10% of what you hear, 30% of what you read, and 50% of what you see. There is always a different point of view. Just Saying! Florida Jimmy.
"Dear readers may expect a call in three, two, oneβ¦"
Therefore, what? To me, Maximum Safety Mode seems like wisdom, both now and in the forseeable future.
I've been a Chairman's Circle member of the Oxford Club and pondering prudent investment strategy for well over a decade, and find more of what I consider real insight and simple, usable, reliable clarity in a week of BPR than the whole of that prior experience.
Many of you here are far more experienced and heavily invested than I am. How does my viewpoint in this look to you? Are you confident in the actionable foresight we are finding here? That is the goal, right?
Bill is spot on when he says the debt ceiling is more like an elevator- a great glass elevator in fact which the vermicious knids AKA the pesky BRICS + (did I miss a q?) are ungratefully seeking to circumvent if not stop.
The utterances from Ms Yellen has left me confused. Is she an idiot or just very dishonest? Either way it is hard to fathom how she managed to find herself in her position of influence.
Bill Bonner has a way with words. They are as clear as a well taken photograph.
In the ultimate analysis only one thing comes to mind, competence and qualifications.
Our government comprises of those who can manipulate their way to the lucrative positions not only financially but to satisfy their enormous humongous egos.
It is not the best qualified individuals, not even close to it that rule our country. The rulers we have are those with money, connections that span for generations, strong arms and poor minds. History repeats itself. It use to be kings and his cronies and now it is the hustlers.
It will take an act of congress to change that. Did I say congress? Yes, I got hooked on relying on the least dependable, least intelligent, least qualified, least honest and most corrupted.
The kings and their cronies have changed their costumes but the show never changed.
We should just do away with the debt ceiling since it is meaningless. I understand the theoretical reason for it, but it does nothing to restrain spending or borrowing and just provides another thing to fight about. Spending authorization bills could just include language to authorize the Treasury to borrow whatever money it needs to pay for it, thus incorporating the borrowing and spending authorities into one step. Iβve only heard one person mention that Biden could have had his clean debt ceiling bill back in December when he controlled all 3 branches of government but what he really wanted was a fight to try to make the Republicans look bad.
100% agree. Only Denmark and the United States have a debt ceiling that is set at an absolute amount rather than a percentage of GDP. Congress has already spent the money on government programs, the Treasury needs to pay the bills in whatever manner necessary to protect what little is left of our credit rating.
To continue with my previous comment.
FDR supposedly the great president of ours appointed Joe Kennedy to lead the Security and Exchange Commission. When asked why he appointed someone with a known background of improprieties known to the people, FDR responded that it takes a thief to watch a thief. They should say a great deal about the historical thinking of our government. As the saying goes, there is a right way, a wrong way and an American government way.
Would I be far off if I were to say that American government is comprised of incompetent manipulators and hustlers because it takes that kind of an individuals to have a government in the US
Interestingly, there is a Member of Congress who has a plausible solution to reducing the nation's debt, a Democrat no less.
See: https://www.washingtonpost.com/opinions/2023/04/24/jared-golden-congressional-debt-compromise/
Interesting read (had to use my "free" article allowance since I refuse to subscribe to the WP). The main reason that Democrat Mr. Golden is in Congress is than his mostly red Republican Maine district uses ranked choice voting which tends to favor more moderate candidates like himself over the more extreme Republicans he runs against. His solution reduces the deficit, not the debt. Actually reducing the debt is impossible with the Congress filled with incompetent clowns.
You're right: He's trying to stop the debt from growing.
The last president to reduce the deficit was Clinton.
The last president to reduce the debt was Calvin Coolidge
Hey Tim. Who would the βextreme Republicansβ be? My only thought sure they are mostly extremely bad.
Hi Jimm -
Too bad that link is behind a paywall. Not gonna give MSM a penny more than I inadvertently and/or unintentionally have to, nor am I willing to add one more organization to the list of senders sending a blizzard of spam to my em account - how about you summarize the plan for us?
Here is the plan copied from the WP article:
"To do that, Golden sets a target of reducing borrowing by $250 billion a year in each of the next two years. Half would come through spending caps such as those floated by Republicans: capping inflation-adjusted βdiscretionaryβ spending (everything other than Social Security and Medicare) at last yearβs levels, along with rescinding student debt cancellation and recapturing unspent covid funding. The other half would come from raising additional revenue in ways long favored by Democrats: raising the tax rate on big corporations to 25 percent, imposing a surtax on corporate stock buybacks and rescinding the Trump tax cut for individuals making more than $400,000 a year."
Thanks Tim.
It would make a good start, but we all know nothing like this is EVER gonna happen...
Mr. Star. That was my thoughts exactly. I clicked on to read the column and saw that the BS and ran away. Not one dime.
Definately is the βHotel Californiaβ of economies. You can check in anytime you like, but you can never leave.β
Check out
My problem wasn't about using a coma or colon. My problem is that tere wasn't a quote after a colon!!!
chris Lake
I always cringe when Bill takes off on one of his foundational principles, Free Trade.
The dollar, the mighty industrial America, was based on Alexander Hamiltonβs protectionism. He assumed it was necessary to reach the grand vision he and Benjamin Franklin had for America.
After WW2 America was last man standing, it exported everything throughout the world and it started to produce crap, become complacent.
Unions and regulations forced Made in America to other countries and other countries like Japan produced a better product.
Of course Free Trade was good for American corporations that were now international. They made money and the Americans footed the bill with higher taxes to support the coercive warfare state.
It all worked because the government helicoptered money into consumer pockets, consequently 32 trillion in debt.
I like Billβs travels and experiences. I would hardly call him an American.
America is back to square one. The country is that ruined.
Itβs time to dust off the writings and genius of Hamilton if Americans are to be saved.
But what is an American, another name for self destruction.
Well written amd analyzed Bill and Joel. Believe 10% of what you hear, 30% of what you read, and 50% of what you see. There is always a different point of view. Just Saying! Florida Jimmy.
"Dear readers may expect a call in three, two, oneβ¦"
Therefore, what? To me, Maximum Safety Mode seems like wisdom, both now and in the forseeable future.
I've been a Chairman's Circle member of the Oxford Club and pondering prudent investment strategy for well over a decade, and find more of what I consider real insight and simple, usable, reliable clarity in a week of BPR than the whole of that prior experience.
Many of you here are far more experienced and heavily invested than I am. How does my viewpoint in this look to you? Are you confident in the actionable foresight we are finding here? That is the goal, right?
Bill is spot on when he says the debt ceiling is more like an elevator- a great glass elevator in fact which the vermicious knids AKA the pesky BRICS + (did I miss a q?) are ungratefully seeking to circumvent if not stop.
The utterances from Ms Yellen has left me confused. Is she an idiot or just very dishonest? Either way it is hard to fathom how she managed to find herself in her position of influence.
Dear Bill,
I thoroughly enjoy reading your reports. Especially those that explore the world, and, your handy-man exploits.
However, and you are not the only publisher that commits this sin, the following quotes from your APR26 newsletter highlights my grievance.
Each of these lines end with a ":". I take that to assume the colons would be followed by a quote.
The foreigners are finding new non-dollar ways of doing business. The Cradle:
Back then, βfree tradeβ benefited American exportersβ¦and the world. The Financial Times:
AndAnd then, the trade deficit with the whole world got worse too. Investopedia reports:
If I am wrong I apologise, if I am correct sack your proof-reader.
Cheers
Chris Lake
( an original subscriber)
When to use a COLON:
If you use a complete sentence to introduce a quotation, place a colon (not a comma) after the sentence and before the quote.