Diesel is what delivers the stuff. The highways are full of trucks. And the trucks burn diesel fuel. Raise the cost of diesel and the price of the stuff the trucks deliver also goes up.
America lost its way after 9/11? I thought America lost its way in 1971, when Nixon closed the infamous Gold Window? Some say America lost its way in 1950 when Truman fired MacArthur for coming within a whisker of winning the War of Unification in Korea. Some say America lost its way when it instituted the essentially unconstitutional Civil Rights Act in 1964. But as a longtime Bonnerite, I'm bought into the "when the money goes, everything goes" argument. Therefore, America lost its way when it ditched redeemable currency (last issuance: 1957 C. Douglas Dillon silver certificate) and silver coinage (1964 being the last issuance). Does it really matter? America lost its way; that's the bottom line. Still, the fact that its taken 55 years to get where we are now shows just how much substance there was at one time.
And the idea that made America "America" will never die. It may lie dormant, seemingly dead, seemingly buried, seemingly discredited, but it will never die. We've seen to that. Best always. PM
How about the US lost its way when it decided to allow the French to recolonize Vietnam after WW2? First, France is defeated but then hubris prevented the US from learning from the French mistake. DeGaulle told the US that a military solution was destined for failure and that the government of South Vietnam had little popular support.
The debt resulting from the war spending then led Nixon to take us off the gold standard resulting in a money printing spree that devalued the dollar and created inflation.
Does it matter? HI Paul, well written, but as a Bonnerite maybe you can get him to answer what would have happened had Nixon not closed the gold window? Americans could not own gold. Foreigners, mainly governments, would have drained all the gold off. America would have no gold, true. But what would have happened then?
Hi Ted! You know what? We were spending more money than we had long before the infamous closing of the gold "window", so you know what would have happened with or without Nixon's move. Mr. Bonner knows it, too. The closing serves as an admission of the game. We, meaning the US, had a post-bellum (WWII) monopoly on the world economy, and we got used to getting away with stuff normally not possible. The roughly 20-year period it took for other participants to come back and compete was in one way wonderful but also sowed the seeds of our destruction, because in that 20-year period, we got the idea that the rules didn't apply to us, and we could do anything against the laws of nature, physics, and economics with impunity. By the time Johnson began fulfilling his personal ambitions of eclipsing his idol, FDR, in socialism (aka vote-buying), our golden ticket on the world stage was expiring. To keep up the charade, we started printing money, which could not, for obvious reasons, be tied to metal redemption. This is why inflation started surging in the 60s. OPEC's first oil embargo (1973) finished us off. My take, anyway. Best always. PM
Some smart comments here and below, yes going off the gold standard was a blow, but was it the cause or a symptom. I say symptom. Lets look back to 1914 women's vote? that would sure raise hackles (just kidding). But it was the Wilsonian vision in my opinion, enter a war in europe, create income tax, create the FED. Then the "managing of money" started, American's freedom to own gold was removed, then we joined another war, and the price was finally admitted in 1971 with the foreign window closed too. Its an avalanche that started before my father was born, and I ain't young.
MacArthur was canned because he wanted a wider war with China.
Truman -- his CinC -- didn't.
MacArthur got what he wanted: On or slightly before the US Army, US Marine and South Korean forces approached the Yalu River, China invaded Korea.
I'm not a military historian; what little I know about that distant conflict comes in part from my social acquaintance with the son of the commanding general of the 7th US Army Division; the Army force that MacArthur told to go north.
Despite his Inchon success, MacArthur never came within a whisker of unifying Korea.
A wider war was inevitable if we wanted to keep China non-commie. Yes, Jimm, as always, you know the official version. The unofficial version (my take) is that Truman knew he was political toast if MacArthur was perceived has having "won" the war. Letting MacArthur "rip", so to speak, and win the war would have certainly guaranteed a MacArthur presidential run and victory (Mac was a Republican). Truman, a small man, couldn't have that. MacArthur had already served as head of state twice: once in the Philippines and the second in Japan, both times successfully. Doesn't matter. 3/4ths of a century later, the North Vietnamese still have the USS Pueblo, the war is still on (merely suspended) and we still have assets and commitments tied up over there, and every single president in my lifetime (I'm 74) has had to deal with the threat. You tell me who had the right idea. Best always. PM
The US debased the dollar in 1971, went off the gold standard.
There was a reason for it.
Eisenhower, the illustrious general and departing president warned about it… The Military, Industrial, Congressional Complex.
They killed Kennedy and perverted the American economy. The war machine ramped up debt and destruction and propagated lies that the American people swallowed. It killed any necessary industry; more and more capital funneled into anything subsidized by the government. Remember the Lockheed fiasco? Government controlled markets, government controlled all things, government was omnipotent, the talking heads and experts had ushered in a new Age of Aquarius, reality took a backseat and serendipity reined. Few got rich, most got destroyed.
Bill has long since convinced me the mighty Ship of State USA is heading for a serious shoal.
I hope he and his team -- Dan and Tom -- have some suggestions how the ship's hapless passengers should prepare for the likely smash-up.
To date, only Tom proposes a short list of mostly obscure oil and iron ore firms along with his constant refrain to "Buy Gold/paper currency is collapsing."
And, today, Bill implies buying "things" but doesn't hint what things might hold value as the dollar continues is decades long purchasing power decline.
Also, the USA is not the only nation suffering from unsustainable debt, albeit the largest. Wither them, especially Japan?
Years ago (1970s?) a writer named Pugsley said buy "stuff". Pugsley's stuff were the items you would need without going to a store. Food, clothing, medical supplies, etc. He called this his Alpha Strategy.
We’re a civilization with GPS satellites orbiting the planet!
How the F*C* are we still lost?
Apparently the nation boarded a train bound for glory and ended up in Gary, Indiana. That’s not foreign policy. That’s Amtrak.
Apparently trillions were spent.
That’s an astonishing amount of money.
Because after about $500 billion, you’d expect somebody to walk into the Pentagon and ask:
“HOW’S IT GOING?”
One trillion:
“How’s the war?”
“Complicated.”
Two trillion:
“Any progress?”
“Strategic.”
Three trillion:
“Are we winning?”
“Multidimensional.”
Four trillion:
“What does that mean?”
“Classified.”
Five trillion:
“What’s the exit strategy?”
“Evolving.”
Six trillion:
“Who exactly are we fighting now?”
“It’s complicated.”
Seven trillion:
“Could I see a receipt?”
“YOU DIRTY COMMUNIST!”
Government procurement is the only place where you can spend trillions of dollars and receive an answer beginning with:
“Well, technically…”
Try that at Costco.
“Sir, you spent $4,700.”
“What did I buy?”
“Well, technically…”
“GET THE MANAGER.”
I don’t know why everyone criticizes Gary, Indiana.
I’ve never been.
Perhaps it’s lovely.
Although being used as the punchline for imperial decline probably isn’t helping tourism. The theory seems to be that America didn’t lose its way. It found it. That’s darker. Usually when you’re lost, there’s hope. You can ask directions. If you’ve arrived exactly where you were headed…that’s more of a planning issue.
Was the model sustainable? We're still hung up on the idea of perpetual, eternal "growth". Just as in life, growth is easy and natural. Sustaining is the challenge. Best always. PM
Well, life has to be sustained; you must consume and produce necessities. Who cares about growth; it is an accounting illusion spurred by inflation, the debasement of currency.
There is a guy on Facebook that visits wrecked cities, a running video of harsh Dystopia with statistics. He recently visited Jackson, Mississippi but he has been to Maine.
Not so sure that the 'stuff' survives. The burning fire of the paper could destroy the stuff, too. Like the 18 year old kid with his July 4th rocket launcher on the back of a truck who ignited a forest fire that killed a bystander and caused millions in damages
The GWOT was deliberately initiated by a false flag and has become a bad joke as millions of illegals have since been allowed if not enabled to swarm across West Israel’s borders. “Muh terrorists” - LOL.
Also add Reagan to the list of traitorous presidents.
I wonder what CAGW's (Catastrophic Anthropogenic Global Warming) enthusiasts would've thought if a mere 5 years ago they were told diesel would be the most sought-after fuel...
-
The cheapest fuel to produce, (except for added environmental standards)
That was the original allure of diesel: it was a "garbage" fuel, essentially a by-product, what's left after skimming off the "valuable" aromatics. Best always. PM
If you’ve ever used a gas power engine and then moved over to a diesel engine, you’ll have a better understanding of the efficiency and the power that comes from burning diesel fuel
It may be dirty, but it’s awful powerful when you’re using a truck a tractor or heavy equipment!
I see the bubble and wonder when the pop will occur. Since we don't have any responsible leadership in the US, I don't see a way to avoid that explosion. As you evaluate where the US is, how does that relate to the debt in other countries around the world?
It seems you are starting to realize that today's problems are somewhat the result of past influences. I have never understood your disdain for Trump (which I agree with). When compared to the alternative, he is the only choice. Please look at 9/11 and ask where did that come from. We need a revised Constitution that addresses the mistakes made and shows improvement. Meanwhile, the current political system will go down in flames eventually. What then?
America lost its way after 9/11? I thought America lost its way in 1971, when Nixon closed the infamous Gold Window? Some say America lost its way in 1950 when Truman fired MacArthur for coming within a whisker of winning the War of Unification in Korea. Some say America lost its way when it instituted the essentially unconstitutional Civil Rights Act in 1964. But as a longtime Bonnerite, I'm bought into the "when the money goes, everything goes" argument. Therefore, America lost its way when it ditched redeemable currency (last issuance: 1957 C. Douglas Dillon silver certificate) and silver coinage (1964 being the last issuance). Does it really matter? America lost its way; that's the bottom line. Still, the fact that its taken 55 years to get where we are now shows just how much substance there was at one time.
And the idea that made America "America" will never die. It may lie dormant, seemingly dead, seemingly buried, seemingly discredited, but it will never die. We've seen to that. Best always. PM
How about the US lost its way when it decided to allow the French to recolonize Vietnam after WW2? First, France is defeated but then hubris prevented the US from learning from the French mistake. DeGaulle told the US that a military solution was destined for failure and that the government of South Vietnam had little popular support.
The debt resulting from the war spending then led Nixon to take us off the gold standard resulting in a money printing spree that devalued the dollar and created inflation.
Paul, that is a great summary of the slow decline we have lived through. Your last sentence is 100% correct.
Jim Marshall
Quite the tribute, Jim, and much appreciated. Many thanks and best always. PM
Does it matter? HI Paul, well written, but as a Bonnerite maybe you can get him to answer what would have happened had Nixon not closed the gold window? Americans could not own gold. Foreigners, mainly governments, would have drained all the gold off. America would have no gold, true. But what would have happened then?
Hi Ted! You know what? We were spending more money than we had long before the infamous closing of the gold "window", so you know what would have happened with or without Nixon's move. Mr. Bonner knows it, too. The closing serves as an admission of the game. We, meaning the US, had a post-bellum (WWII) monopoly on the world economy, and we got used to getting away with stuff normally not possible. The roughly 20-year period it took for other participants to come back and compete was in one way wonderful but also sowed the seeds of our destruction, because in that 20-year period, we got the idea that the rules didn't apply to us, and we could do anything against the laws of nature, physics, and economics with impunity. By the time Johnson began fulfilling his personal ambitions of eclipsing his idol, FDR, in socialism (aka vote-buying), our golden ticket on the world stage was expiring. To keep up the charade, we started printing money, which could not, for obvious reasons, be tied to metal redemption. This is why inflation started surging in the 60s. OPEC's first oil embargo (1973) finished us off. My take, anyway. Best always. PM
Some smart comments here and below, yes going off the gold standard was a blow, but was it the cause or a symptom. I say symptom. Lets look back to 1914 women's vote? that would sure raise hackles (just kidding). But it was the Wilsonian vision in my opinion, enter a war in europe, create income tax, create the FED. Then the "managing of money" started, American's freedom to own gold was removed, then we joined another war, and the price was finally admitted in 1971 with the foreign window closed too. Its an avalanche that started before my father was born, and I ain't young.
Absolutely correct in your assessment!
MacArthur was canned because he wanted a wider war with China.
Truman -- his CinC -- didn't.
MacArthur got what he wanted: On or slightly before the US Army, US Marine and South Korean forces approached the Yalu River, China invaded Korea.
I'm not a military historian; what little I know about that distant conflict comes in part from my social acquaintance with the son of the commanding general of the 7th US Army Division; the Army force that MacArthur told to go north.
Despite his Inchon success, MacArthur never came within a whisker of unifying Korea.
A wider war was inevitable if we wanted to keep China non-commie. Yes, Jimm, as always, you know the official version. The unofficial version (my take) is that Truman knew he was political toast if MacArthur was perceived has having "won" the war. Letting MacArthur "rip", so to speak, and win the war would have certainly guaranteed a MacArthur presidential run and victory (Mac was a Republican). Truman, a small man, couldn't have that. MacArthur had already served as head of state twice: once in the Philippines and the second in Japan, both times successfully. Doesn't matter. 3/4ths of a century later, the North Vietnamese still have the USS Pueblo, the war is still on (merely suspended) and we still have assets and commitments tied up over there, and every single president in my lifetime (I'm 74) has had to deal with the threat. You tell me who had the right idea. Best always. PM
The US debased the dollar in 1971, went off the gold standard.
There was a reason for it.
Eisenhower, the illustrious general and departing president warned about it… The Military, Industrial, Congressional Complex.
They killed Kennedy and perverted the American economy. The war machine ramped up debt and destruction and propagated lies that the American people swallowed. It killed any necessary industry; more and more capital funneled into anything subsidized by the government. Remember the Lockheed fiasco? Government controlled markets, government controlled all things, government was omnipotent, the talking heads and experts had ushered in a new Age of Aquarius, reality took a backseat and serendipity reined. Few got rich, most got destroyed.
Bill has long since convinced me the mighty Ship of State USA is heading for a serious shoal.
I hope he and his team -- Dan and Tom -- have some suggestions how the ship's hapless passengers should prepare for the likely smash-up.
To date, only Tom proposes a short list of mostly obscure oil and iron ore firms along with his constant refrain to "Buy Gold/paper currency is collapsing."
And, today, Bill implies buying "things" but doesn't hint what things might hold value as the dollar continues is decades long purchasing power decline.
Also, the USA is not the only nation suffering from unsustainable debt, albeit the largest. Wither them, especially Japan?
Years ago (1970s?) a writer named Pugsley said buy "stuff". Pugsley's stuff were the items you would need without going to a store. Food, clothing, medical supplies, etc. He called this his Alpha Strategy.
“If your train's on the wrong track, every station you come to is the wrong station.”
— Bernard Malamud
I love the proposition: “America lost its way.”
Lost its way?!
We’re a civilization with GPS satellites orbiting the planet!
How the F*C* are we still lost?
Apparently the nation boarded a train bound for glory and ended up in Gary, Indiana. That’s not foreign policy. That’s Amtrak.
Apparently trillions were spent.
That’s an astonishing amount of money.
Because after about $500 billion, you’d expect somebody to walk into the Pentagon and ask:
“HOW’S IT GOING?”
One trillion:
“How’s the war?”
“Complicated.”
Two trillion:
“Any progress?”
“Strategic.”
Three trillion:
“Are we winning?”
“Multidimensional.”
Four trillion:
“What does that mean?”
“Classified.”
Five trillion:
“What’s the exit strategy?”
“Evolving.”
Six trillion:
“Who exactly are we fighting now?”
“It’s complicated.”
Seven trillion:
“Could I see a receipt?”
“YOU DIRTY COMMUNIST!”
Government procurement is the only place where you can spend trillions of dollars and receive an answer beginning with:
“Well, technically…”
Try that at Costco.
“Sir, you spent $4,700.”
“What did I buy?”
“Well, technically…”
“GET THE MANAGER.”
I don’t know why everyone criticizes Gary, Indiana.
I’ve never been.
Perhaps it’s lovely.
Although being used as the punchline for imperial decline probably isn’t helping tourism. The theory seems to be that America didn’t lose its way. It found it. That’s darker. Usually when you’re lost, there’s hope. You can ask directions. If you’ve arrived exactly where you were headed…that’s more of a planning issue.
You should have said, “The US ended up as Gary, Indiana. That dismal place is replicated all over America.
Was the model sustainable? We're still hung up on the idea of perpetual, eternal "growth". Just as in life, growth is easy and natural. Sustaining is the challenge. Best always. PM
Well, life has to be sustained; you must consume and produce necessities. Who cares about growth; it is an accounting illusion spurred by inflation, the debasement of currency.
There is a guy on Facebook that visits wrecked cities, a running video of harsh Dystopia with statistics. He recently visited Jackson, Mississippi but he has been to Maine.
Next time I run across it I will send a web page.
Thanks. Always good to hear from you. Best always. PM
Not so sure that the 'stuff' survives. The burning fire of the paper could destroy the stuff, too. Like the 18 year old kid with his July 4th rocket launcher on the back of a truck who ignited a forest fire that killed a bystander and caused millions in damages
The GWOT was deliberately initiated by a false flag and has become a bad joke as millions of illegals have since been allowed if not enabled to swarm across West Israel’s borders. “Muh terrorists” - LOL.
Also add Reagan to the list of traitorous presidents.
I wonder what CAGW's (Catastrophic Anthropogenic Global Warming) enthusiasts would've thought if a mere 5 years ago they were told diesel would be the most sought-after fuel...
-
The cheapest fuel to produce, (except for added environmental standards)
The dirtiest fossil fuel of them all...
Is now holding the world hostage...
That was the original allure of diesel: it was a "garbage" fuel, essentially a by-product, what's left after skimming off the "valuable" aromatics. Best always. PM
From a big picture viewpoint we focus on the old yellow relic for long term wealth but without "black gold" the world comes to a halt quickly!!!!
Jim Marshall
If you’ve ever used a gas power engine and then moved over to a diesel engine, you’ll have a better understanding of the efficiency and the power that comes from burning diesel fuel
It may be dirty, but it’s awful powerful when you’re using a truck a tractor or heavy equipment!
I see the bubble and wonder when the pop will occur. Since we don't have any responsible leadership in the US, I don't see a way to avoid that explosion. As you evaluate where the US is, how does that relate to the debt in other countries around the world?
It seems you are starting to realize that today's problems are somewhat the result of past influences. I have never understood your disdain for Trump (which I agree with). When compared to the alternative, he is the only choice. Please look at 9/11 and ask where did that come from. We need a revised Constitution that addresses the mistakes made and shows improvement. Meanwhile, the current political system will go down in flames eventually. What then?