Bottom line, we are a highly divided country in decline, bankrupt and on the verge of a civil war. So life is good, the fish are swimming, the birds are flying, the cow is mooing, liberalism is still a mental disorder and Bill is back writing:) The world has been here many times in the past. We’ve all read about the outcome of declining empires and have nothing to fear but fear itself🤔. The collapse will take decades, and most like our fellow dear readers will be fine because we are mostly intelligent, inquisitive and knowledgeable. This is why we are here today😊. So since we have some time, if you haven’t listened to me and others here, it’s a good time to buy gold for wealth, silver for trading and buying and ammo since it’s currently at a cheap price with silver. As I’ve also been saying for years, buy any dip in Bitcoin, and look for IPOs that have anything to do with crypto, including CHYM, for those who missed CRCL. And anyone who supports the LA riots and the left, please consider getting help for your severely damaged mind and by doing so, truly help make America Great Again🇺🇸🇺🇸🇺🇸 Have a blessed day 🙏💕
I promise this is my last comment for the day. "The collapse will take decades" might be more reasonably stated as "The ongoing collapse will continue for decades." Look out the window folks--it's happening!
My tolerance for the Trump Train is waning. I voted for Trump with the hopes he would cut government similar to what Mile is doing and is delivering on for Argentina. Trump has not delivered as of yet on government agency slashing or debt reduction. Making the Federal government smaller was his mantra with reductions in government debt and so far all of what he said has been a fake promise. Zero deficit budgets would prove otherwise. Growing yourself out of debt is not the answer at the debt levels we have. The Big Beautiful Bill is based on smoke and mirrors yet again and it's same old political bullshit as before. I'm disappointed on Trump’s approach, I wanted a Melie type President and not what we got.
Cut government? He tried nibbling around the edges and got his hand slapped, but hard. He was told only Congress can cut government. If so, it will not happen, which also explains why it hasn't happened EVER. Government will shrink only when it fails and gets ushered out the door. Embrace the collapse; it's our only way out. What will be a real bite in the rear is when we are all STILL writing in frustration 10 years from now and the debt is $60 trill and still going strong, and Mr. Bonner is still selling "Avoid the Big Loss." Best always. PM
Many of us are well over 70 or 80, so we could say we will be 6 feet under or dust by the time the U.S. debt crashes! I fear for our grandchildren who will have to deal with that crisis!
I know brother, as I’ve stated before, we had the choice between a NY Liberal or a Communist. Really no choice for America. Was always a DeSantis man, and know he was always the choice, which we never had. We are only in month five and need to give him a full year to see what happens. The forces of evil and the left are very strong and we will witness much insanity this next year, but what choice do we have? Again, at this point, sit back and enjoy the fruits of your labor, and enjoy the show until it reaches your neighborhood, than defend what you worked for your whole life with extreme prejudice…
Obviously Milei is not operating under the restrictions Mr. Trump is facing. I can hear the cries of "authoritarianism" now! In the vote for Milei, did they also pass a law stating that their legislative bodies MUST rubber stamp whatever Milei proposes and/or does? If so give us that same condition, and we can have reform overnight. Best always. PM
Well Congress certainly isn't going to change anything, so we need a catalyst to force it to change. Disappointingly my new 2025 congressman Brian Jack representing where I live here in Georgia voted for the Big Beautiful Bill and I can assure you he didn't read what was in the Bill before voting for it. What a knuckle head. Once again I feel I voted for someone who just votes the party line and can't think on their own. For what it was worth I let his office know how disappointing it was to know he voted for a Bill that reportedly continues to increase the debt. The phone call was a waste of electrons as they don’t care. I guess I voted for a puppit, same old politics.
I know it’s so frustrating that we really haven’t had a true Conservative since Eisenhower, and they are all puppets, but it is what it is and now we need to take care of our own and not worry about things we can’t control. If you haven’t already prepared for the coming disaster, there’s still time:)
Milei is apparently rare as a unicorn. I hoped for similar approach here as well. They (Argentina) paid a hell of a price in cost and time to eventually stumble upon him. Maybe ours will appear in the distant future, hopefully not too distant.
Our problem now is not with the Executive, but with the legislative side and the judiciary. This is why Tytler says democracy devolves into dictatorship. OMG not authoritarianism! Not a loss of "our" democracy! Anything but that! Democracy only got us $37 trillion in the hole. It's obviously such a valuable and wonderful thing (all sarc). Best always. PM
Mr S.: Unfortunately, slashing debt means slashing jobs, lots of them. This would be political suicide for the GOP. Then the Democrats would be back in and erase the debt reduction as well as reopening the borders . And they would pass a mass amnesty to legalize over 10M third-world peasants, 98% who would then vote for an endless amount of free stuff.
Debt-to-GDP was only 35% in 2000, a quite manageable sum, rising dramatically in 25 years to an onerous 120%. Why? Where did all the debt spending go during those 25 years?
I contend that it went to prop up employment/jobs lost to so-called free trade. All those jobs shipped overseas were not remotely replaced by tech jobs. So debt had to be created in mass to keep the middle class working or there would have been a revolt.
Is it just an amazing coincidence that when free trade caused all those jobs to be shipped overseas that the debt exploded? I don’t think so.
And in Argentina, Pres. Milei did slash thousands of federal government jobs to begin with, but he hasn’t done much job-slashing since then. Why? Analysts I have read pointed out that he could only do this gradually going forward or he would knock out a goodly number of his supporters’ jobs, then he would not be reelected. I actually believe his—gradual—approach right now is the way to go. He is facing reality.
Agree Frank, and your explanation tells you everything you need to know! Nothing can save America from this coming disaster, so unfortunately Argentina could be where you want your family to be. World war is always the answer for economic collapse, and that’s happening now…
Another pathetic defense of Trump’s acceleration of the nation’s already obvious collapse. While buying gold and bullets might provide temporary refuge, Trump’s militaristic, enemy-creating approach does NOTHING to increase either the GNP or increase the wealth of any American (except of course the cowardly masked thugs destroying people’s lives in LA).
This approach in virtually every corner of the non-white world is exactly what has created the already impossible-to-pay deficit of the world’s formerly richest nation. After getting elected by promising peace, Trump is unquestionably ACCELERATING America’s. If this insanity is to continue, the only solution is for each of our states to jump off this train now that the debt is “only” $100,000/person (I.e., secede from the nuthouse) because Steve’s and Donald’s “solutions” will take all of us to $500,000/person. Argentina, here we come!
For the last time....the government does not set the "retirement' age. I know people older than I (72) still working. I know people younger than I long retired. This is a false canard. What government can control is when workers have access to federal "retirement" benefits for which the workers have been punished with 15.3% taxes their whole working lives. And don't give me this razz about the employer pays half of that. The truth is, the employer pays half of it with YOUR money! Absent that tax, the employer could afford to pay you more. What a crock all of this is, but why am I surprised? It's GOVERNMENT. Best always. PM
None so blind as those who will not see. When will those who appear to deliberately not recognise the spiralling debt problem open their eyes?
Like those who deliberately covered up Joe Biden's deteriorating cognitive function now writing books on the coverup they participated in, we can, in time, expect the same from DJT and his merry men in Congress. Only a few like Bill Bonner and Elon Musk will say; We told you so.
"some future president and future Congress" will use inflation as a tool to steal from us? Unless I am missing something, that's been a key part of the playbook for over a century.
I’ve been critical of Bill and his rather one-sided writings… Not left or right but constantly negative. Can’t find anything in this missive that I disagree with. I have said “wrongly” for a decade that they’re out of options for kicking the can… We may be experiencing exhaustion very soon.
I took a macroeconomics class back in the early 90s - there is literally written evidence that the 80s tax cuts INCREASED revenue, but as Reagan put it, govt is the problem, and they just (over)spent it
Don't just blame the Dims. Remember when war criminal Don Cheney said deficits didn't matter. Cheney 's illegal wars under Baby Bush helped blow a hole in the budget too. Remember when David Stockman gave up and quit the administration because they refused to cut spending?
Exactly brother, and we still have many RINOs in office that are worse than the leftist, because they are wolves in sheep’s clothing, pretending to be Republicans and so full of 💩 💩💩
I was only blaming the Dems where they deserved blame.
You are absolutely correct that over a reasonable time frame both sides approach worthlessness. Young Bush was a well-intentioned moron and Cheney was definitely a sleeze-bag.
You are absolutely correct in your first comment that Reagan's tax cuts (along with Coolidge's, Kennedy's, Bush's and Trump's) all increased revenue to the Treasury. The fact that Bill found one guy that doesn't seem to understand arithmetic doesn't refute reality. They (Bill and the guy he quoted) ignore the fact that government spending has no relationship to the tax revenue it collects. They are masters of "static analysis" where a "dynamic analysis" is required.
Maybe "Don Cheney" is an amalgam of Don Rumsfeld and Dick Cheney. They worked for Baby Bush but were Poppy's peeps. How'd that work out for us? Best always. PM
By the way, there was a Don Cheney back in the 60s that played for Texas Western (later UTEP) that won the NCAA basketball championship over the University of Kentucky. It was "big" in the day, because Texas Western was all bl@ck and UK was all wh!te. We solved that problem by making all athletic teams all or mostly bl@ck. Government in action! PM
To imbibe a country’s values as “…when a man must be afraid to drink freely from his country’s rivers and streams that country is no longer fit to live in. Time then to move on, to find another country or - in the name of Jefferson - to make another country. ‘The tree of liberty is nourished by the blood of tyrants; it is its natural manure.’” p. 142 “Desert Solitaire” by Edward Abbey. Once the values and virtue of a nation have rusted and rotted through misinterpretation, misuse, and neglect it is time to move on or make another one. We live in times of deceit and foolishness. To destroy without a clear concept of replacement is folly. May we stir the stream endeavoring to purify it.
For starters, how about just go back to the budget level that was in place prior to the Plandemic. Oh God no says the Statist, that would be so painful for our Bureaucracy; I mean Democracy :-)
I am a Trump guy but I think they are blowing it. All they had to do was come back with a budget bill that did not increase the debt (Bill would have had nothing to talk about). If you wanted to continue the tax cuts, tax cuts on social security and tips so be it, but it had to be at an expense to something else, defense, medicaid, benefits to illegals. Going into the fall, it would have been the only thing that they needed to campaign with. Right now the only thing that we got is a controlled border. If you want illegals to leave, cut off the benefits, and they will have to go home or california. If it becomes inhumane, we know who caused it. What the previous administration did with the border was an abomination, and allowing it to go on makes the current congress just a continuation of the same issue. They need to go after one issue at a time, with all departments and agencies working together, and take it to completion. That is how you get things done, but in politics getting things done is not the highest priority. The only threat to democracy that I see is the bureaucracy that exists in government that has to be exterminated.
Yes brother, it’s already failed miserably, and the real misery will start soon. Let’s see how this beginning civil war expands and if our government can contain it. The left is fully responsible and fueling the fire, while the right continues to work and do the right thing. If the National Guard had a live war against the illegals and traitors, the media will make it look like Trumps fault and this is where it will begin. Maybe the vast majority of Americans will take a stand like one child did In 2020(Kyle Howard Rittenhouse) and finally put an end to the madness of the leftist. Time will tell, but in the meantime, sit back, enjoy a nice Bourbon 🥃 and be prepared 🇺🇸🇺🇸🇺🇸
Paul,I respect your thoughts very much. You talk about failure. What will that look like? What happens if Medicare and medicaid no longer exist? Would that solve the ss problem as well as gov. pensions? This sounds like a Davos question doesn't it? I'll bet Klause has given this some thought. I know this is a stupid comment but it sure is food for thought. Looking forward to more of your comments. God's blessings to all.
Poverty is the one thing money can't buy. It's not just our amazing national debt! It's debt everywhere. The 10 year treasury interest rate determines housing mortgage rates. It's called trickle down economics. Credit cards are charging up to 28% which is higher than when Paul Volcker sent the FED rate to 20%. 60% of the people who sold homes last year didn't buy new ones. None of this should be surprising since our largest industry is financial.
Well butter my brain and call it deficit stew! I couldn’t agree more, our fine federal Frankenbeast has finally devoured its own entrails and is now asking for seconds.
Yes sir, government isn’t the solution, it’s a flaming clown car driven by lobotomized circus rejects, hellbent on solving imaginary problems with real money we don’t have. Multi-trillion-dollar programs to cure everything from poverty to leprosy of the soul, all with the fiscal discipline of a tweaker at a casino buffet. And every one of them? About as effective as a condom made of spiderwebs.
Republicans used to at least pretend they believed in small government. But now they just take turns with the Democrats strapping explosives to the federal budget and shouting, “Trust us, it’s stimulus!” Trump and his MAGA-gnostics handed us the BBBA, Big Beautiful Budget Abomination, like it was the Ten Commandments dipped in gold leaf. In reality, it’s more like Mein Kampf with spreadsheets. Hahaha!
Interest rates? Pfft. Let’s snort a point off the Powell-pipe and launch this sucker into orbit! Who cares if it crashes back down on the bloated corpse of the American dream? We’ll be too busy selling off national parks as NFT real estate and auctioning off cabinet positions on TikTok.
The debt spiral isn’t a “problem”, it’s a performance art piece in the theater of collapse. A trillion here, a trillion there, and soon you’re talking about burning the Constitution to stay warm in the winter of fiscal extinction.
But hey, there is a silver lining streaking across the sky on a Tesla-powered rocket: Elon Musk. The man who said, “Why fix the government when you can escape it… to Mars?” Elon is like the cool substitute teacher of capitalism, a little eccentric, possibly from another planet, and definitely more productive than Congress on its best Adderall. While Washington prints Monopoly money, Elon’s building self-driving spaceships that tweet better than our senators.
When the dollar finally dies, I’m betting the new currency will be Dogecoin, accepted only at SpaceX fuel stations and Tesla charging pods. And when society finally implodes, at least we’ll have flamethrowers and satellites, thanks to the only man who thought, “You know what this hellscape needs? Wi-Fi and reusable rockets.”
Let’s all strike that match together, folks. Just make sure it’s near the rocket fuel, and that Elon’s got front-row seats.
I've been a member of BPR for several years now and, along with other reputable financial publications, I see a repetition of a confident assumption that the US will be able to continue spending more than its income based by "continuing to sell US Treasuries albeit at a higher interest rate". Considering the recent disappointing results of Treasury auctions, I question the reality of the aforesaid assumption. Historic buyers, other than US citizens, have been absent at said auctions and don't seem inclined to return for what now has become a risk-on instrument issued by an entity that has lost its AAA rating by all three US rating agencies.
Financial repression is here to stay. Forcing artificially low interest interest rates is the easy one as you just soak the rich. Problem with this one is there's not enough juice. Next comes the retirement plans. However, forcing retirement plans to become buyers of government's unwanted debt is a one time Parlor trick. Forcing the Central Bank to become the buyer's of last resort for government's unwanted debt also has its limitations. Hyperinflation will cause the Statists to make a decision as to whom they will stiff. Will it be the creditors or the entitlement recipients. My money's on the entitlement recipients. They're simply too old and weak to fight back. The Statists will spin this Taking as a most generous gesture on the behalf of the Old Generation to preserve their beloved Bureaucracy; I mean Democracy :-) We've all seen and read this story. This time will be no different, just bigger.
When I worked (thank God no more) in the Pharmacy department in California, each year when the budget for the department was due, the head of the department said your MUST increase the budget by at least 10% or there won’t be any increases in the future. Bad government at its best. My solution as a starter is do it with one sweep, all departments need to DECREASE their budget by 10% or 15%. This should be voted by our idiots in Congress.
Bottom line, we are a highly divided country in decline, bankrupt and on the verge of a civil war. So life is good, the fish are swimming, the birds are flying, the cow is mooing, liberalism is still a mental disorder and Bill is back writing:) The world has been here many times in the past. We’ve all read about the outcome of declining empires and have nothing to fear but fear itself🤔. The collapse will take decades, and most like our fellow dear readers will be fine because we are mostly intelligent, inquisitive and knowledgeable. This is why we are here today😊. So since we have some time, if you haven’t listened to me and others here, it’s a good time to buy gold for wealth, silver for trading and buying and ammo since it’s currently at a cheap price with silver. As I’ve also been saying for years, buy any dip in Bitcoin, and look for IPOs that have anything to do with crypto, including CHYM, for those who missed CRCL. And anyone who supports the LA riots and the left, please consider getting help for your severely damaged mind and by doing so, truly help make America Great Again🇺🇸🇺🇸🇺🇸 Have a blessed day 🙏💕
I promise this is my last comment for the day. "The collapse will take decades" might be more reasonably stated as "The ongoing collapse will continue for decades." Look out the window folks--it's happening!
Right! Started in the 70s and still going strong…
Even though the USA, is still the best place to live, but not LA or cities that are Liberal in general....I live in Canada.
Liberal Canadian government has made Canada not so great a place either.
Tell me about it.
My tolerance for the Trump Train is waning. I voted for Trump with the hopes he would cut government similar to what Mile is doing and is delivering on for Argentina. Trump has not delivered as of yet on government agency slashing or debt reduction. Making the Federal government smaller was his mantra with reductions in government debt and so far all of what he said has been a fake promise. Zero deficit budgets would prove otherwise. Growing yourself out of debt is not the answer at the debt levels we have. The Big Beautiful Bill is based on smoke and mirrors yet again and it's same old political bullshit as before. I'm disappointed on Trump’s approach, I wanted a Melie type President and not what we got.
Cut government? He tried nibbling around the edges and got his hand slapped, but hard. He was told only Congress can cut government. If so, it will not happen, which also explains why it hasn't happened EVER. Government will shrink only when it fails and gets ushered out the door. Embrace the collapse; it's our only way out. What will be a real bite in the rear is when we are all STILL writing in frustration 10 years from now and the debt is $60 trill and still going strong, and Mr. Bonner is still selling "Avoid the Big Loss." Best always. PM
Many of us are well over 70 or 80, so we could say we will be 6 feet under or dust by the time the U.S. debt crashes! I fear for our grandchildren who will have to deal with that crisis!
I know brother, as I’ve stated before, we had the choice between a NY Liberal or a Communist. Really no choice for America. Was always a DeSantis man, and know he was always the choice, which we never had. We are only in month five and need to give him a full year to see what happens. The forces of evil and the left are very strong and we will witness much insanity this next year, but what choice do we have? Again, at this point, sit back and enjoy the fruits of your labor, and enjoy the show until it reaches your neighborhood, than defend what you worked for your whole life with extreme prejudice…
Obviously Milei is not operating under the restrictions Mr. Trump is facing. I can hear the cries of "authoritarianism" now! In the vote for Milei, did they also pass a law stating that their legislative bodies MUST rubber stamp whatever Milei proposes and/or does? If so give us that same condition, and we can have reform overnight. Best always. PM
Exactly brother!
Well Congress certainly isn't going to change anything, so we need a catalyst to force it to change. Disappointingly my new 2025 congressman Brian Jack representing where I live here in Georgia voted for the Big Beautiful Bill and I can assure you he didn't read what was in the Bill before voting for it. What a knuckle head. Once again I feel I voted for someone who just votes the party line and can't think on their own. For what it was worth I let his office know how disappointing it was to know he voted for a Bill that reportedly continues to increase the debt. The phone call was a waste of electrons as they don’t care. I guess I voted for a puppit, same old politics.
I know it’s so frustrating that we really haven’t had a true Conservative since Eisenhower, and they are all puppets, but it is what it is and now we need to take care of our own and not worry about things we can’t control. If you haven’t already prepared for the coming disaster, there’s still time:)
Until we see the death of "PORK" in congress, we will not see any change in the way our government spends money.
The left are Marxists, or lead by Marxists.
Milei is apparently rare as a unicorn. I hoped for similar approach here as well. They (Argentina) paid a hell of a price in cost and time to eventually stumble upon him. Maybe ours will appear in the distant future, hopefully not too distant.
Our problem now is not with the Executive, but with the legislative side and the judiciary. This is why Tytler says democracy devolves into dictatorship. OMG not authoritarianism! Not a loss of "our" democracy! Anything but that! Democracy only got us $37 trillion in the hole. It's obviously such a valuable and wonderful thing (all sarc). Best always. PM
America is a REPUBLIC, NOT a DEMOCRACY.
The majority does not rule.
Gordon, One must believe in fairy tails for that to come true here in the US. I think.
Indeed. My loosely held hopefulness borders right up against fantasy. I figured it didn't hurt to say it out loud, regardless of how unlikely.
Mr S.: Unfortunately, slashing debt means slashing jobs, lots of them. This would be political suicide for the GOP. Then the Democrats would be back in and erase the debt reduction as well as reopening the borders . And they would pass a mass amnesty to legalize over 10M third-world peasants, 98% who would then vote for an endless amount of free stuff.
Debt-to-GDP was only 35% in 2000, a quite manageable sum, rising dramatically in 25 years to an onerous 120%. Why? Where did all the debt spending go during those 25 years?
I contend that it went to prop up employment/jobs lost to so-called free trade. All those jobs shipped overseas were not remotely replaced by tech jobs. So debt had to be created in mass to keep the middle class working or there would have been a revolt.
Is it just an amazing coincidence that when free trade caused all those jobs to be shipped overseas that the debt exploded? I don’t think so.
And in Argentina, Pres. Milei did slash thousands of federal government jobs to begin with, but he hasn’t done much job-slashing since then. Why? Analysts I have read pointed out that he could only do this gradually going forward or he would knock out a goodly number of his supporters’ jobs, then he would not be reelected. I actually believe his—gradual—approach right now is the way to go. He is facing reality.
Agree Frank, and your explanation tells you everything you need to know! Nothing can save America from this coming disaster, so unfortunately Argentina could be where you want your family to be. World war is always the answer for economic collapse, and that’s happening now…
SL: Good luck...unfortunately we're all going to need it. I'm surprised that you don't think Trump can save us!
Only Jesus can save you from what is coming 🙏
Another pathetic defense of Trump’s acceleration of the nation’s already obvious collapse. While buying gold and bullets might provide temporary refuge, Trump’s militaristic, enemy-creating approach does NOTHING to increase either the GNP or increase the wealth of any American (except of course the cowardly masked thugs destroying people’s lives in LA).
This approach in virtually every corner of the non-white world is exactly what has created the already impossible-to-pay deficit of the world’s formerly richest nation. After getting elected by promising peace, Trump is unquestionably ACCELERATING America’s. If this insanity is to continue, the only solution is for each of our states to jump off this train now that the debt is “only” $100,000/person (I.e., secede from the nuthouse) because Steve’s and Donald’s “solutions” will take all of us to $500,000/person. Argentina, here we come!
For the last time....the government does not set the "retirement' age. I know people older than I (72) still working. I know people younger than I long retired. This is a false canard. What government can control is when workers have access to federal "retirement" benefits for which the workers have been punished with 15.3% taxes their whole working lives. And don't give me this razz about the employer pays half of that. The truth is, the employer pays half of it with YOUR money! Absent that tax, the employer could afford to pay you more. What a crock all of this is, but why am I surprised? It's GOVERNMENT. Best always. PM
None so blind as those who will not see. When will those who appear to deliberately not recognise the spiralling debt problem open their eyes?
Like those who deliberately covered up Joe Biden's deteriorating cognitive function now writing books on the coverup they participated in, we can, in time, expect the same from DJT and his merry men in Congress. Only a few like Bill Bonner and Elon Musk will say; We told you so.
"some future president and future Congress" will use inflation as a tool to steal from us? Unless I am missing something, that's been a key part of the playbook for over a century.
I agree. It has been. But the way I interpret him is, there will be much worse of it (i.e. we ain't seen nothing yet).
I can't disagree Gordon. Cheery thought, no?
I’ve been critical of Bill and his rather one-sided writings… Not left or right but constantly negative. Can’t find anything in this missive that I disagree with. I have said “wrongly” for a decade that they’re out of options for kicking the can… We may be experiencing exhaustion very soon.
I took a macroeconomics class back in the early 90s - there is literally written evidence that the 80s tax cuts INCREASED revenue, but as Reagan put it, govt is the problem, and they just (over)spent it
Yes, the Reagan tax cuts DID increase government revenue.
However Democrats in congress couldn’t resist spending more.
And blaming it all in Reagan.
And the CBO, our ‘neutral’ government agency’, now acknowledges the Trump tax cuts also increased revenue.
You might be interested to know every member of the CBO is a contributing Democrat. Every one.
Don't just blame the Dims. Remember when war criminal Don Cheney said deficits didn't matter. Cheney 's illegal wars under Baby Bush helped blow a hole in the budget too. Remember when David Stockman gave up and quit the administration because they refused to cut spending?
I think you meant Dick Cheney, which is quite appropriate.
Exactly brother, and we still have many RINOs in office that are worse than the leftist, because they are wolves in sheep’s clothing, pretending to be Republicans and so full of 💩 💩💩
Steve , Your are slipping. Only 3 piles! LOL
SL: Congratulations! You always find a way to blame Dems.
I was only blaming the Dems where they deserved blame.
You are absolutely correct that over a reasonable time frame both sides approach worthlessness. Young Bush was a well-intentioned moron and Cheney was definitely a sleeze-bag.
Have a great day.
You are absolutely correct in your first comment that Reagan's tax cuts (along with Coolidge's, Kennedy's, Bush's and Trump's) all increased revenue to the Treasury. The fact that Bill found one guy that doesn't seem to understand arithmetic doesn't refute reality. They (Bill and the guy he quoted) ignore the fact that government spending has no relationship to the tax revenue it collects. They are masters of "static analysis" where a "dynamic analysis" is required.
Wouldn't lower interest rates make art that more palatable? Of course, reply.It would be that kind of just and more.
Maybe "Don Cheney" is an amalgam of Don Rumsfeld and Dick Cheney. They worked for Baby Bush but were Poppy's peeps. How'd that work out for us? Best always. PM
By the way, there was a Don Cheney back in the 60s that played for Texas Western (later UTEP) that won the NCAA basketball championship over the University of Kentucky. It was "big" in the day, because Texas Western was all bl@ck and UK was all wh!te. We solved that problem by making all athletic teams all or mostly bl@ck. Government in action! PM
Maybe.
It was Liz. Both the same just more hair on one.
Sorry. Thanks for the correction.
To imbibe a country’s values as “…when a man must be afraid to drink freely from his country’s rivers and streams that country is no longer fit to live in. Time then to move on, to find another country or - in the name of Jefferson - to make another country. ‘The tree of liberty is nourished by the blood of tyrants; it is its natural manure.’” p. 142 “Desert Solitaire” by Edward Abbey. Once the values and virtue of a nation have rusted and rotted through misinterpretation, misuse, and neglect it is time to move on or make another one. We live in times of deceit and foolishness. To destroy without a clear concept of replacement is folly. May we stir the stream endeavoring to purify it.
For starters, how about just go back to the budget level that was in place prior to the Plandemic. Oh God no says the Statist, that would be so painful for our Bureaucracy; I mean Democracy :-)
I am a Trump guy but I think they are blowing it. All they had to do was come back with a budget bill that did not increase the debt (Bill would have had nothing to talk about). If you wanted to continue the tax cuts, tax cuts on social security and tips so be it, but it had to be at an expense to something else, defense, medicaid, benefits to illegals. Going into the fall, it would have been the only thing that they needed to campaign with. Right now the only thing that we got is a controlled border. If you want illegals to leave, cut off the benefits, and they will have to go home or california. If it becomes inhumane, we know who caused it. What the previous administration did with the border was an abomination, and allowing it to go on makes the current congress just a continuation of the same issue. They need to go after one issue at a time, with all departments and agencies working together, and take it to completion. That is how you get things done, but in politics getting things done is not the highest priority. The only threat to democracy that I see is the bureaucracy that exists in government that has to be exterminated.
Government has succeed in creating the dependency it sought. All that's left now is failure; it's our only way out. Best always. PM
Yes brother, it’s already failed miserably, and the real misery will start soon. Let’s see how this beginning civil war expands and if our government can contain it. The left is fully responsible and fueling the fire, while the right continues to work and do the right thing. If the National Guard had a live war against the illegals and traitors, the media will make it look like Trumps fault and this is where it will begin. Maybe the vast majority of Americans will take a stand like one child did In 2020(Kyle Howard Rittenhouse) and finally put an end to the madness of the leftist. Time will tell, but in the meantime, sit back, enjoy a nice Bourbon 🥃 and be prepared 🇺🇸🇺🇸🇺🇸
Paul,I respect your thoughts very much. You talk about failure. What will that look like? What happens if Medicare and medicaid no longer exist? Would that solve the ss problem as well as gov. pensions? This sounds like a Davos question doesn't it? I'll bet Klause has given this some thought. I know this is a stupid comment but it sure is food for thought. Looking forward to more of your comments. God's blessings to all.
Poverty is the one thing money can't buy. It's not just our amazing national debt! It's debt everywhere. The 10 year treasury interest rate determines housing mortgage rates. It's called trickle down economics. Credit cards are charging up to 28% which is higher than when Paul Volcker sent the FED rate to 20%. 60% of the people who sold homes last year didn't buy new ones. None of this should be surprising since our largest industry is financial.
Well butter my brain and call it deficit stew! I couldn’t agree more, our fine federal Frankenbeast has finally devoured its own entrails and is now asking for seconds.
Yes sir, government isn’t the solution, it’s a flaming clown car driven by lobotomized circus rejects, hellbent on solving imaginary problems with real money we don’t have. Multi-trillion-dollar programs to cure everything from poverty to leprosy of the soul, all with the fiscal discipline of a tweaker at a casino buffet. And every one of them? About as effective as a condom made of spiderwebs.
Republicans used to at least pretend they believed in small government. But now they just take turns with the Democrats strapping explosives to the federal budget and shouting, “Trust us, it’s stimulus!” Trump and his MAGA-gnostics handed us the BBBA, Big Beautiful Budget Abomination, like it was the Ten Commandments dipped in gold leaf. In reality, it’s more like Mein Kampf with spreadsheets. Hahaha!
Interest rates? Pfft. Let’s snort a point off the Powell-pipe and launch this sucker into orbit! Who cares if it crashes back down on the bloated corpse of the American dream? We’ll be too busy selling off national parks as NFT real estate and auctioning off cabinet positions on TikTok.
The debt spiral isn’t a “problem”, it’s a performance art piece in the theater of collapse. A trillion here, a trillion there, and soon you’re talking about burning the Constitution to stay warm in the winter of fiscal extinction.
But hey, there is a silver lining streaking across the sky on a Tesla-powered rocket: Elon Musk. The man who said, “Why fix the government when you can escape it… to Mars?” Elon is like the cool substitute teacher of capitalism, a little eccentric, possibly from another planet, and definitely more productive than Congress on its best Adderall. While Washington prints Monopoly money, Elon’s building self-driving spaceships that tweet better than our senators.
When the dollar finally dies, I’m betting the new currency will be Dogecoin, accepted only at SpaceX fuel stations and Tesla charging pods. And when society finally implodes, at least we’ll have flamethrowers and satellites, thanks to the only man who thought, “You know what this hellscape needs? Wi-Fi and reusable rockets.”
Let’s all strike that match together, folks. Just make sure it’s near the rocket fuel, and that Elon’s got front-row seats.
ES: I think Elon should read this. You might give him a few new ideas.
I've been a member of BPR for several years now and, along with other reputable financial publications, I see a repetition of a confident assumption that the US will be able to continue spending more than its income based by "continuing to sell US Treasuries albeit at a higher interest rate". Considering the recent disappointing results of Treasury auctions, I question the reality of the aforesaid assumption. Historic buyers, other than US citizens, have been absent at said auctions and don't seem inclined to return for what now has become a risk-on instrument issued by an entity that has lost its AAA rating by all three US rating agencies.
Financial repression is here to stay. Forcing artificially low interest interest rates is the easy one as you just soak the rich. Problem with this one is there's not enough juice. Next comes the retirement plans. However, forcing retirement plans to become buyers of government's unwanted debt is a one time Parlor trick. Forcing the Central Bank to become the buyer's of last resort for government's unwanted debt also has its limitations. Hyperinflation will cause the Statists to make a decision as to whom they will stiff. Will it be the creditors or the entitlement recipients. My money's on the entitlement recipients. They're simply too old and weak to fight back. The Statists will spin this Taking as a most generous gesture on the behalf of the Old Generation to preserve their beloved Bureaucracy; I mean Democracy :-) We've all seen and read this story. This time will be no different, just bigger.
Mr. Bonner's entire premise rests upon his view that U.S. debt is THE singular foremost problem.
It seems there are many pertinent matters being dealt simultaneously.
None perfectly.
But finally in discussion... which is more than anyone can say about the last 20 years...
When I worked (thank God no more) in the Pharmacy department in California, each year when the budget for the department was due, the head of the department said your MUST increase the budget by at least 10% or there won’t be any increases in the future. Bad government at its best. My solution as a starter is do it with one sweep, all departments need to DECREASE their budget by 10% or 15%. This should be voted by our idiots in Congress.
I hear ya. But, really?
How long can we cry wolf about debt?
And nothing happens?