"What were they thinking?" scholars might ask. Or will the scholars simply say this was a classic example of the Cantillon effect. The pigs next to the trough feasted on all that money printing and got rich beyond their wildest dreams while the rest of the farm animals and the farm itself slowly decayed into oblivion.
Well if a person woke up with a hang over this morning, the numbers you presented should cause him/her to sober up quickly. Unfortunately, I don't think it will happen. Sadly all the talk about things are improving is just talk! I voted for Trump and I like many of the things he has done, but even on his best days, he can't fix all the problems and he created a few of his own.
Your opening comment, "the mother in law comes with the bride", is one I haven't heard in a long time. Have a good weekend.
I agree that Trump has done many things I like and many more things that the democrats have stalled i.e., voter ID. But to be sure, the mother-in-laws have been conspicuously present post Eisenhower thus poisoning the well for all the incoming son-in-laws and Trump is no exception.
And (literally today) here comes Trump to tell the public - and you couldn't make this up - not to worry about the deficit as inflation will soon make short work of that. Only missing out the fact that financial repression will make short work of their dollars too. The only question is whether the other side will be brazen enough to call him on it? One suspects not...
The entire issue is the spending required to keep constituencies happy. (Required because we have spineless leadership).
So the approach with Trump/Bessent is Supply Side: EX: Investment in Minnesota/Iowan ore and steel, possible because of imposed tariffs (others pay for the right to do business with a premium brand-the US market).
This is the same concept as our energy independence in oil (viz: Venezuela & Iran).
This is a work around to avoid our Congress, who won’t cut spending for love nor money.
This supply side investment will hopefully boost GDP enough to cut into/eliminate the inflation continuum and give our men & women meaningful employment.
Yes, anyone with assets, and that means a large percentage of the American population and anyone else they can reach. You know we got ourselves into this position as the powers to be, aka the thieving class, have put us frogs into comforting warm water and the rest is history.
Yes I agree, produce more but this is difficult when half of the congress want to regulate us into oblivion in an effort to protect those who contribute to their wealth and reelection.
You can tell that the banks are getting very nervous, especially the small and medium sized ones. They are all restricting money transfers. It’s as if they were preparing themselves for a run on the bank.
The answer is written in Modern Monetary Theory - raise taxes. I expect a push for much higher capital gains tax rates as well as new taxes on net assets. There’s a question about the Constitutionality of taxing net assets in the US. So it may take some time but eventually it will happen. They will need much higher taxes to keep inflate or die going.
"What were they thinking?" scholars might ask. Or will the scholars simply say this was a classic example of the Cantillon effect. The pigs next to the trough feasted on all that money printing and got rich beyond their wildest dreams while the rest of the farm animals and the farm itself slowly decayed into oblivion.
Well if a person woke up with a hang over this morning, the numbers you presented should cause him/her to sober up quickly. Unfortunately, I don't think it will happen. Sadly all the talk about things are improving is just talk! I voted for Trump and I like many of the things he has done, but even on his best days, he can't fix all the problems and he created a few of his own.
Your opening comment, "the mother in law comes with the bride", is one I haven't heard in a long time. Have a good weekend.
Jim Marshall
I agree that Trump has done many things I like and many more things that the democrats have stalled i.e., voter ID. But to be sure, the mother-in-laws have been conspicuously present post Eisenhower thus poisoning the well for all the incoming son-in-laws and Trump is no exception.
And (literally today) here comes Trump to tell the public - and you couldn't make this up - not to worry about the deficit as inflation will soon make short work of that. Only missing out the fact that financial repression will make short work of their dollars too. The only question is whether the other side will be brazen enough to call him on it? One suspects not...
The entire issue is the spending required to keep constituencies happy. (Required because we have spineless leadership).
So the approach with Trump/Bessent is Supply Side: EX: Investment in Minnesota/Iowan ore and steel, possible because of imposed tariffs (others pay for the right to do business with a premium brand-the US market).
This is the same concept as our energy independence in oil (viz: Venezuela & Iran).
This is a work around to avoid our Congress, who won’t cut spending for love nor money.
This supply side investment will hopefully boost GDP enough to cut into/eliminate the inflation continuum and give our men & women meaningful employment.
That is my understanding of the plan.
Of course the answer is to raise taxes on the wealthy. The wealthy being anyone with assets. I expect taxes on net assets as well as capital gains.
Yes, anyone with assets, and that means a large percentage of the American population and anyone else they can reach. You know we got ourselves into this position as the powers to be, aka the thieving class, have put us frogs into comforting warm water and the rest is history.
The answer is for more people to produce more wealth; more wealth means more tax revenue for all levels of government.
The better answer is for the Federal government to reduce its spending
The best answer is effect both tactics simultaneously
Yes I agree, produce more but this is difficult when half of the congress want to regulate us into oblivion in an effort to protect those who contribute to their wealth and reelection.
You can tell that the banks are getting very nervous, especially the small and medium sized ones. They are all restricting money transfers. It’s as if they were preparing themselves for a run on the bank.
All the signs would say so.
BPR: Bonner Pessimism and Resignation.
We find that dark cloud in the silver (gold?) lining!
How so?
When the colonists came to this country, the Indians ran it.
There were no taxes, no national debt, no gov't intrusion.
The women did all the work.
And the colonists actually thought they could improve the system?
The answer is written in Modern Monetary Theory - raise taxes. I expect a push for much higher capital gains tax rates as well as new taxes on net assets. There’s a question about the Constitutionality of taxing net assets in the US. So it may take some time but eventually it will happen. They will need much higher taxes to keep inflate or die going.
Bill's educational explanations suggests there will be an ending to the 55 year old tactic to drop the link between the dollar and gold.
It didn't achieve what its long deceased advocates believed it would.
I look forward to Bill's thoughts regarding "Now what?"
Yes, it makes sense.