Most elected governments spend too much, borrow too much, and then ‘print’ too much money. The result is inflation and insolvency, often garnished by war.
"we had gone from being a rich mine owner back to being a poor scribbler. " -- Bill Bonner
"This nearly was mine." Oscar Hammerstein II
Self-deprecation can have its place and can be charming, but this is what we in the South would call "poor-mouthing", and it's, as my wife would say, "not a good look". Best always. PM
Did you ever get up in the morning and look at the clouds, the blue sky, the breezes, hear birds singing and sing, “What a wonderful world.”
Man has always toiled, suffered and died even when he lived in small tribes. Everything we consume that is produced by infrastructure, planning, capital… is a miracle. We all live off that miracle.
Now if you want to denigrate finance, insurance, entertainment, the cost that bleeds people dry, have at it.
Everything produced is a miracle worth being thankful for, and all along the line people get compensated.
Well Xavier, we all would be better off if we went outside and look at the sky, the birds, and all the other things in nature that God has provided and we were thankful for all our blessing. I know I have a LOT to be thankful for.
Watch out what you wish for! The Falklands could turn into another Iraq, Afghanistan or Iran. You know the drill - the operation willl be easy, cheap and will be over in a few weeks.
Well, I guess Lesser Britain may still want the Falkland Islands as an outpost, once they get expelled from using the Panama Canal. Otherwise, they should just stay away from the American Hemisphere.
Putting aside the factual inaccuracies and hyperbolic speculations. Today's article has to be classified as another weird libertarian cheerleading/click-bait article. Yes Argentina’s headline stabilisation indicators look materially better but don't pretend that similar chainsaw surgery would work on an advanced economy. Again you can do better than this!
And so... we return to the old BPR conceit where we cheer for cuts while ignoring what happens when the drop in spending takes economic activity out of the economy.
From the previous discussion:
There's lots of cheerleaders for drastic action, drastic cuts on here but this is very simplistic and partisan. I have to admit I don't know much about this subject but when I looked into it, it does seem that BPR are adhering to an alarming libertarian ideological purity here and have a dishonest intellectual position. You can do better than this!
From ai research on Frank's point: 'The point you're making is essentially a demand for analytical completeness. You can't rigorously examine the numerator (debt) while ignoring what the denominator-spending actually does in the economy. Cutting $2 trillion in spending doesn't simply "reduce the deficit by $2 trillion." It removes $2 trillion in economic activity, triggers multiplier effects, destroys millions of jobs, reduces tax revenue (which partially offsets the savings), increases demand for counter-cyclical programs like unemployment insurance and SNAP, and potentially triggers a deflationary spiral.
Any fiscal analyst who refuses to engage with this — regardless of their ideological leanings — is producing incomplete work. And if Bill once understood the distinction between wealth-creating and non-wealth-creating spending, his retreat from that framework represents a genuine loss in the quality of public discourse on what may be the single most important economic question facing the country.
The path forward isn't denial of the debt problem. It's honest sequencing — recognizing which investments build capacity, which transfers prevent catastrophic collapse, and what a realistic transition looks like that doesn't throw millions of people into destitution in the name of fiscal purity.'
If Donnie decides to back an Argentine invasion of the Falklands will Article 5 of NATO require NATO members to repel the invasion. Maybe US forces supporting Britain to repel the invasion of Argentina and US troops. That's a win-win for the MIC.
But the Falklands are a Britisn Territory and their defense and foreign affairs are controlled by Britain. The NATO defense area seems to be the whole globe. Places like Libya which NATO helped destroy.
I was just fantasizing. Just like I am about registering to vote again so I can help ensure a Republican victory in November. I could use that $5,000 that Trump is promising if the Repugs retain control of Congress. It would only add another trillion plus to the national debt.
It's an interesting question: How should ownership of real property function? What known system maximizes the Earth's scarce resources' value to humanity, over time, and adjusted honestly for the external costs associated.
Bill: You probably know, or have heard, that a cross-South America railroad may be built in the future just north of Salta. It will pass through 4 countries and open up that end of Argentina. Who knows, you might make a few more bucks for your kids' estate!
You might not even own your property in the future if you're in the path of the AI buildout bubble. It has already happened in several states. So in the "Land of the free, home of the brave" you may not be free to stay in your home.
Bill terms himself a "poor scribbler" Poor Bill - he's down to his last 4 houses or so.
The same happened to me!
Except the top 20 inches of my property happens to have a house on top.
Governor Newsom wants whatever is under my house too!
He calls it property and taxes it.
"we had gone from being a rich mine owner back to being a poor scribbler. " -- Bill Bonner
"This nearly was mine." Oscar Hammerstein II
Self-deprecation can have its place and can be charming, but this is what we in the South would call "poor-mouthing", and it's, as my wife would say, "not a good look". Best always. PM
Good Grief!
His sentence structure was a highly literate use of two extremes: rich and poor.
He was not announcing his wealth.
Had he done so, that would have been "not a good look."
Back at you. The man is incredibly successful and wealthy. It struck me as odd. I expressed an opinion. Deal with it. Best always. PM
I did,
Did you ever get up in the morning and look at the clouds, the blue sky, the breezes, hear birds singing and sing, “What a wonderful world.”
Man has always toiled, suffered and died even when he lived in small tribes. Everything we consume that is produced by infrastructure, planning, capital… is a miracle. We all live off that miracle.
Now if you want to denigrate finance, insurance, entertainment, the cost that bleeds people dry, have at it.
Everything produced is a miracle worth being thankful for, and all along the line people get compensated.
What have you produced lately?
Well Xavier, we all would be better off if we went outside and look at the sky, the birds, and all the other things in nature that God has provided and we were thankful for all our blessing. I know I have a LOT to be thankful for.
Jim Marshall
Not much being retired . Well except that I still pay taxes!
That freedom can lead to truth and truth is everything.
I would enjoy seeing the US conspire with Argentina to expel Lesser Britain from the Falkland Islands, in preparation for expelling them from America.
Ha! That is too ridiculous...
Watch out what you wish for! The Falklands could turn into another Iraq, Afghanistan or Iran. You know the drill - the operation willl be easy, cheap and will be over in a few weeks.
Well, I guess Lesser Britain may still want the Falkland Islands as an outpost, once they get expelled from using the Panama Canal. Otherwise, they should just stay away from the American Hemisphere.
Lol the great American inferiority complex is back.
😂😂
Putting aside the factual inaccuracies and hyperbolic speculations. Today's article has to be classified as another weird libertarian cheerleading/click-bait article. Yes Argentina’s headline stabilisation indicators look materially better but don't pretend that similar chainsaw surgery would work on an advanced economy. Again you can do better than this!
And so... we return to the old BPR conceit where we cheer for cuts while ignoring what happens when the drop in spending takes economic activity out of the economy.
From the previous discussion:
There's lots of cheerleaders for drastic action, drastic cuts on here but this is very simplistic and partisan. I have to admit I don't know much about this subject but when I looked into it, it does seem that BPR are adhering to an alarming libertarian ideological purity here and have a dishonest intellectual position. You can do better than this!
From ai research on Frank's point: 'The point you're making is essentially a demand for analytical completeness. You can't rigorously examine the numerator (debt) while ignoring what the denominator-spending actually does in the economy. Cutting $2 trillion in spending doesn't simply "reduce the deficit by $2 trillion." It removes $2 trillion in economic activity, triggers multiplier effects, destroys millions of jobs, reduces tax revenue (which partially offsets the savings), increases demand for counter-cyclical programs like unemployment insurance and SNAP, and potentially triggers a deflationary spiral.
Any fiscal analyst who refuses to engage with this — regardless of their ideological leanings — is producing incomplete work. And if Bill once understood the distinction between wealth-creating and non-wealth-creating spending, his retreat from that framework represents a genuine loss in the quality of public discourse on what may be the single most important economic question facing the country.
The path forward isn't denial of the debt problem. It's honest sequencing — recognizing which investments build capacity, which transfers prevent catastrophic collapse, and what a realistic transition looks like that doesn't throw millions of people into destitution in the name of fiscal purity.'
The mainstream press is here to protect the lie
If Donnie decides to back an Argentine invasion of the Falklands will Article 5 of NATO require NATO members to repel the invasion. Maybe US forces supporting Britain to repel the invasion of Argentina and US troops. That's a win-win for the MIC.
My understanding is Argentina is located outside of NATO defense area.
But the Falklands are a Britisn Territory and their defense and foreign affairs are controlled by Britain. The NATO defense area seems to be the whole globe. Places like Libya which NATO helped destroy.
Ai tells me NATO has and does on occasion wander beyond their designated territory however they are not obligated to automatically.
I was just fantasizing. Just like I am about registering to vote again so I can help ensure a Republican victory in November. I could use that $5,000 that Trump is promising if the Repugs retain control of Congress. It would only add another trillion plus to the national debt.
It's an interesting question: How should ownership of real property function? What known system maximizes the Earth's scarce resources' value to humanity, over time, and adjusted honestly for the external costs associated.
Bill: You probably know, or have heard, that a cross-South America railroad may be built in the future just north of Salta. It will pass through 4 countries and open up that end of Argentina. Who knows, you might make a few more bucks for your kids' estate!
Ralph H.
Gosh Bill if you had that property here in the US of A you would most probably own those mineral rights.
Likely not... from my experience you must purchase mineral rights, if you can, separately.
You might not even own your property in the future if you're in the path of the AI buildout bubble. It has already happened in several states. So in the "Land of the free, home of the brave" you may not be free to stay in your home.
It never was "free".
There is always a restriction of some kind.
Only the homeless can live where ever they want...
Hernan Buchi in Chile probably counts too.