In the Covid panic of 2020, people realized that they no longer needed to go to the office. This led to a spike in office vacancies and a big drop in prices.
"But the rich are burrowing in there... not in New York, Paris or London. They’re moving to the burning sands of the United Arab Emirates... " Such a move implies a whole lot of faith in modern society continuing as is--AC, fresh running water, food production/delivery, etc. I hope they are correct. It makes sense that it will all continue. But then, the Aztecs probably felt the same.
If Dubai is becoming the destination of choice for the mega-rich we're in more trouble than I thought. Bill's correct, crass, soulless, and, as you point out Tim, only livable while all the mod cons continue to function. However, if you are filthy rich with the ability to hedge your bets then why not? Rats never hang around if the ship's sinking
There's a reason both Tribe's candidates don't address the imminent debt crisis. It's not stupidity. We're not the only ones who know we've already crossed the Rubicon. We're all seasoned enough to know that price controls and tariffs will only make things worse. Just wait till the Statist's can't find any buyers for their debt. That's when the real stealing begins. The Globalists are licking their chops envisioning themselves as modern day Lords. The Serfs sold themselves into slavery cheaply. Exactly what you'd expect from an economically illiterate Society.
Clooney et al will walk up the stairs and appreciate themselves or pridginy being gutted by their friends. ... On reflection perhaps i'm wrong. Maybe he's the guy in the feathers doing the gutting.
Love that song reminds me of the good old days. When I was little my dad and my big brother used to ride in the truck on the way home singing that when it came on the radio.
As usual, you guys hit the nail on the head. What do you think in the cause?
Incompetence? Bad actors pulling the strings? Irrational fear? Seeking of popularity--and/or money? National inferiority complex? Personal irresponsibly? Religion, which through forgiveness (vs. karma) makes any behavior "acceptable"? Old Testament "morality" which really translates to endless arbitrary rule-making and group prejudice? Penchant for war and domination? Plain stupidity? Age of decision-makers? Societal acceptance of lying and liars? Personal and/or collective ignorance leading to insecurity? Ability to point fingers and blame others? Animal instincts? Failure or weakness of watchdogs? Lack of actual concern for future generations (i.e., even our own children)? Skin color?
I lean toward accessing blame on the New Testament self-forgiveness escape hatch (vs. karma). I find it otherwise irreconcilable how MY anti-Vietnam War generation can today be supporting the horror show in the "Holy" Land.
I think You miss the point of the Testaments. These are spiritual . Not temporal and from My view have nothing to do with the government of the day. All though they are and can be a base or as the USA constitution is based on.
What astounds me is that as our political hacks show no signs of this issue existing, we, the people, continue to vote them into office. As others and I have said, when it comes to humans, you can't fix stupid!! Don't forget to vote.
I understand. I had an urgo currently in the toilet. Now I have to meet an oncologist. Chin up however. Anybody need a kickass place in Dubai? I might be selling it inexpensively. I'm cheerful. Maybe it's just the sand that put blood in my stool.. I apologate you all that this is over the top. Absolutely true.
Thanks to Bill for confirming a visit to Dubai is one to be avoided and to Dan for the history lesson - the chart on the tiny share of productivity gains that the worker gets goes a long way to explaining why so many folk are having to run faster simply to stand still or worse.
‘While the Big Picture is clear about where this bus is headed’ …. it is also paradoxically ‘clear’ to me that … a ‘Black Swan’ will be blamed for the inevitable collapse. Then, the parties end and the wars begin.
Why is it, that the workers could been cheated after 1971? Is it a coincidence and other reasons explain it, or is it the so called money illusion playing in favour to the elites (capital holders), after starting the inflation game in 1971?
After my third trip to west Africa (helping friends with a drinking water well) I needed a break before vacation in SE Asia (typhoon had just flooded). So, I thought take a week in Dubai UAE where I believe all the utilities and services and infrastructure work simultaneously. My first trip here. Coming from years in Los Angeles California, I noticed and liked: traffic flows well, no aggravated drivers cutting others off, no homeless encampments overflowing into the streets, no graffiti, landscapes are maintained, facades of buildings are not falling off from disrepair, and best of all THE FAMILY and friends and neighbors and community are more important than the rights of an individual, or of an unfortunate group, or a bunch of recent immigrants, or a cohort of victims and survivors. This Dubai ship has a rudder. No place and no one is perfect, yet after two weeks in Dubai it seems to be a Switzerland in the Middle East, I want to stay here longer and learn to deal with the heat. Dubai is the best family community I have experienced. I love Dubai while I’m getting to know it. I’m updating my resume (CV). Thanks for listening, have a good day.
You are welcome. I.M.F. a creature birthed at the Bretton Woods Conference in July 1944, turned 80 years old this year. AND, Its bureaucrats are worried.
Tell me again what % of GDP is now accounted for by "Government Spending?" Are we up over 30% of the total using this fraudulent, laughable, pathetic measure yet??
Y'know, the same "government" that produces NOTHING, sells NOTHING and improves NOTHING.
Every penny they contribute to GDP comes stolen from the sheep...
💯+💯= spot-on “…produces NOTHING, sells NOTHING and improves NOTHING…” yet .gov’ers have the capability to print $’s.
Particularly when an incumbent political candidate comes up with a muttonheaded hair-brined idea to give $25,000 to more than a million first-time home buyers as part of a campaign policy promissory note.
This edition includes a running tally of receipts and outlays of the U.S. government through July 2024.
As MN Gordon wrote in his Economic Prism 16 Aug 2025:
With two months left in the “fiscal year”, the U.S. Treasury is in the hole with a $1.5 trillion deficit. Moreover, spending is on target to hit a deficit of $1.9 trillion for FY2024. Net interest on the debt is already at $763 billion. This puts it at the 2nd highest outlay, behind social security and above health, Medicare, and national defense, among others. Over this same period of FY2023 net interest on the debt was $561 billion.
At $763 billion, net interest on the debt has consumed about half of the deficit spending to date. Thus, for every two dollars Washington borrows, one dollar is being spent to pay the net interest on the debt. What’s more, total interest on Treasury debt securities through July is over $956 billion.
Borrowing money to pay debt interest is a reckless method for keeping a budget. Anyone can see that this is a dead-end street.
"But the rich are burrowing in there... not in New York, Paris or London. They’re moving to the burning sands of the United Arab Emirates... " Such a move implies a whole lot of faith in modern society continuing as is--AC, fresh running water, food production/delivery, etc. I hope they are correct. It makes sense that it will all continue. But then, the Aztecs probably felt the same.
Yeah, they were. Everything seems fine until it isn’t . And then it looks to be obvious all along…
If Dubai is becoming the destination of choice for the mega-rich we're in more trouble than I thought. Bill's correct, crass, soulless, and, as you point out Tim, only livable while all the mod cons continue to function. However, if you are filthy rich with the ability to hedge your bets then why not? Rats never hang around if the ship's sinking
I had to read that three times. We're going back to cannibalism and the people walking up the stairs to achieve it.
There's a reason both Tribe's candidates don't address the imminent debt crisis. It's not stupidity. We're not the only ones who know we've already crossed the Rubicon. We're all seasoned enough to know that price controls and tariffs will only make things worse. Just wait till the Statist's can't find any buyers for their debt. That's when the real stealing begins. The Globalists are licking their chops envisioning themselves as modern day Lords. The Serfs sold themselves into slavery cheaply. Exactly what you'd expect from an economically illiterate Society.
Hopefully George.
Clooney et al will walk up the stairs and appreciate themselves or pridginy being gutted by their friends. ... On reflection perhaps i'm wrong. Maybe he's the guy in the feathers doing the gutting.
Cohencidentally, Don McLean's "American Pie" was also released in 1971.
Love that song reminds me of the good old days. When I was little my dad and my big brother used to ride in the truck on the way home singing that when it came on the radio.
Me too!!!
As usual, you guys hit the nail on the head. What do you think in the cause?
Incompetence? Bad actors pulling the strings? Irrational fear? Seeking of popularity--and/or money? National inferiority complex? Personal irresponsibly? Religion, which through forgiveness (vs. karma) makes any behavior "acceptable"? Old Testament "morality" which really translates to endless arbitrary rule-making and group prejudice? Penchant for war and domination? Plain stupidity? Age of decision-makers? Societal acceptance of lying and liars? Personal and/or collective ignorance leading to insecurity? Ability to point fingers and blame others? Animal instincts? Failure or weakness of watchdogs? Lack of actual concern for future generations (i.e., even our own children)? Skin color?
I lean toward accessing blame on the New Testament self-forgiveness escape hatch (vs. karma). I find it otherwise irreconcilable how MY anti-Vietnam War generation can today be supporting the horror show in the "Holy" Land.
I sum it up to Gerald Celente's view; "money junkies". That says it all for me gold kept people honest thats now gone.
I think You miss the point of the Testaments. These are spiritual . Not temporal and from My view have nothing to do with the government of the day. All though they are and can be a base or as the USA constitution is based on.
What astounds me is that as our political hacks show no signs of this issue existing, we, the people, continue to vote them into office. As others and I have said, when it comes to humans, you can't fix stupid!! Don't forget to vote.
The problem and the solution are obvious.
The devil is in the details as they say.
Imagine one of the two parties coming out before the election with:
there are two paths to a balanced budget. We can raise taxes or we can cut
spending. Since 2/3 of our countrymen are living paycheck to paycheck now, taxes
cannot be raised. Therefore we will cut spending. The biggest items are medicare/
medicaid and social security and defense. We will announce the anticipated reductions
in the near future. Ergo this party just blew themselves to hell. I wonder which party is
going to try this approach?
End of story.
So we accept there is no solution. Ergo stupid can't be fixed.
I understand. I had an urgo currently in the toilet. Now I have to meet an oncologist. Chin up however. Anybody need a kickass place in Dubai? I might be selling it inexpensively. I'm cheerful. Maybe it's just the sand that put blood in my stool.. I apologate you all that this is over the top. Absolutely true.
I like your post but there's only one bill here. And i'm a guy wearing the Atztec feathers...😁
well said
Thanks to Bill for confirming a visit to Dubai is one to be avoided and to Dan for the history lesson - the chart on the tiny share of productivity gains that the worker gets goes a long way to explaining why so many folk are having to run faster simply to stand still or worse.
‘While the Big Picture is clear about where this bus is headed’ …. it is also paradoxically ‘clear’ to me that … a ‘Black Swan’ will be blamed for the inevitable collapse. Then, the parties end and the wars begin.
Why is it, that the workers could been cheated after 1971? Is it a coincidence and other reasons explain it, or is it the so called money illusion playing in favour to the elites (capital holders), after starting the inflation game in 1971?
After my third trip to west Africa (helping friends with a drinking water well) I needed a break before vacation in SE Asia (typhoon had just flooded). So, I thought take a week in Dubai UAE where I believe all the utilities and services and infrastructure work simultaneously. My first trip here. Coming from years in Los Angeles California, I noticed and liked: traffic flows well, no aggravated drivers cutting others off, no homeless encampments overflowing into the streets, no graffiti, landscapes are maintained, facades of buildings are not falling off from disrepair, and best of all THE FAMILY and friends and neighbors and community are more important than the rights of an individual, or of an unfortunate group, or a bunch of recent immigrants, or a cohort of victims and survivors. This Dubai ship has a rudder. No place and no one is perfect, yet after two weeks in Dubai it seems to be a Switzerland in the Middle East, I want to stay here longer and learn to deal with the heat. Dubai is the best family community I have experienced. I love Dubai while I’m getting to know it. I’m updating my resume (CV). Thanks for listening, have a good day.
Yup, some things are easy to see coming. And easier to see going (looking at you CA, NY, IL, WA, etc.)
The UAE is:
1. A valued member of BRICS.
2. Has a VAT system with NO PERSONAL INCOME TAX. (5% on each step of the Supply Chain & 9% Statutory Corporate Tax on profits)
Gee, I wonder why the millionaires are "flocking" there...
Maybe the exchange rate should be based on GDP. Okay, okay.
https://www.voronoiapp.com/economy/The-Latest-IMF-Projections-for-GDP-Growth-July-2024-2042 - illustrated: The Latest (IMF) Int’l Monetary Fund’s Projections for GDP Growth (as of July 2024)
You are welcome. I.M.F. a creature birthed at the Bretton Woods Conference in July 1944, turned 80 years old this year. AND, Its bureaucrats are worried.
Tell me again what % of GDP is now accounted for by "Government Spending?" Are we up over 30% of the total using this fraudulent, laughable, pathetic measure yet??
Y'know, the same "government" that produces NOTHING, sells NOTHING and improves NOTHING.
Every penny they contribute to GDP comes stolen from the sheep...
💯+💯= spot-on “…produces NOTHING, sells NOTHING and improves NOTHING…” yet .gov’ers have the capability to print $’s.
Particularly when an incumbent political candidate comes up with a muttonheaded hair-brined idea to give $25,000 to more than a million first-time home buyers as part of a campaign policy promissory note.
The latest monthly Treasury statement was published this week. https://www.fiscal.treasury.gov/files/reports-statements/mts/mts0724.pdf
This edition includes a running tally of receipts and outlays of the U.S. government through July 2024.
As MN Gordon wrote in his Economic Prism 16 Aug 2025:
With two months left in the “fiscal year”, the U.S. Treasury is in the hole with a $1.5 trillion deficit. Moreover, spending is on target to hit a deficit of $1.9 trillion for FY2024. Net interest on the debt is already at $763 billion. This puts it at the 2nd highest outlay, behind social security and above health, Medicare, and national defense, among others. Over this same period of FY2023 net interest on the debt was $561 billion.
At $763 billion, net interest on the debt has consumed about half of the deficit spending to date. Thus, for every two dollars Washington borrows, one dollar is being spent to pay the net interest on the debt. What’s more, total interest on Treasury debt securities through July is over $956 billion.
Borrowing money to pay debt interest is a reckless method for keeping a budget. Anyone can see that this is a dead-end street.
Thank you for your very incisive and clever reply.