Good morning. Wow. Posting before 0500! Sweet. Haven’t read it yet but it’s next on the list. I’ve been up all night reading. I just checked my portfolio and found that I stopped out of a couple positions yesterday. I’m smelling something burning, like an incoming limit down. Have a great day. Eric
Ha. A word I have not heard to describe our current circumstances, but one that conjures up a childhood memory of being the 2nd grade lightweight sitting on the end of the plank waiting for someone to come along.
And someone does. And it’s the big, fat 6th grade bully who didn’t come to play nice.
Although a couple days later he got ambushed behind the power substation by a large group of 4th graders and the results weren’t pretty.
There is always hope. (True story from OMG 60 years ago).
Biden/Trump are experts at spending other people's money. We need someone under 70, preferably someone under 60 without major controversy and/or a lifetime political paycheck.
Should just go with the Warren Buffett proposal:
Pass a law that if the deficit exceeds 3% of GDP, all incumbent members of Congress become ineligible for reelection.
If it was me, I would extend this to Senate and POTUS as well. Make everyone accountable.
Make all incumbents ineligible? Even those who consistently are frugally conservative and vote against exorbitant spending bills? Reminds me of the teachers in grade school who would punish the entire class because of the bad behavior of one or two idiots.
Because you imagine "running the government" is such a tough job or that we can't find another useful idiot to fill the position.
If it were up to me, they would get zero pay. We could provide meals and housing while they were in DC, but that is it.
I listened to this argument about how we found a "good" one and need to be able to keep them, so term limits is a bad thing. How's that working out?
It doesn't take a genius to follow the rule book. The geniuses created the rule book. We call it a Constitution. Now we just need men with average intelligence to follow it. What they need in abundance is character and integrity. People with character and integrity don't want to spend their lives in DC coming up with ways to tell everyone else what they can and cannot do.
I wouldn't recommend that rule - the EU has that rule and it has cost them significant economic growth, with real wage declines, a decade of stagnation and current recessions.
Government debt is simply an inter-generational savings tools - how do we incentivize today's working people to invest in projects that will pay off only when they're already retired. That's where government debt comes in because the future generation that will benefit from these projects will increase consumption of the retirees (the ones that hold the government debt) by paying back the bonds.
Based on those three metrics alone, and Trump's personal standards, shouldn't Joe Biden be the greatest President eva, and this be the greatest economy eva?
Everyone talks about inflation as if it just came along when the talking heads started telling everyone it was here. Shit. Prices have been going up my entire life. How did they stop the inflation of $140 barrel of oil back in 2011? Damn sure wasn't by raising rates. We've been in an inflationary spiral for at least 15 years.
Inflation is a constant in this debt ridden economy controlled by a central bank. I laugh my ass off when people start talking like the banks are "working for us" or "are doing what's best for the economy." That's like walking around saying, "Those wolves, boy, they sure take care of those sheep!" That is just how easy and stupid we have become.
Differences between now and 2019? Sure prices are a little higher. There are more illegals running around. But any negatives should be offset by all that money you're making with your stawks and shitcoin, right?
Round 2 of inflation is coming in the next 24 months. It is going to be a repeat of the 1970's.
It is going to be crippling to the middle class and below.
Only savior we could have is a Javier Milei plan and eliminate 75%+ of government spending. Turn the damn printer off. We will have a couple rough years as GDP comes crashing down (government spending accounts for 36% of GDP).
However once that happens the free markets will replace what the government was doing in a wasteful manner.
Our economy will become leaner and more efficient. But this only works if our society is not so damn stupid to keep electing these power hungry candidates.
This article is informative but utterly filled with “hopeum”. The premise is adherence to passing a fiscal limit law. Absurd. Requiring a self imposed law drafted and signed by leaders who are hell bent on lawlessness. The only fix is a total monetary reset with all government spending on a blockchain so every citizen can know, and demand answers, as to where their taxes are going. But first, we must have an awakened populace willing to assert the premise of “We the people”. This starts in the American churches, of which most are complacent milquetoasts. “The fear of the Lord is the beginning of wisdom”. Boy, do we need some wisdom.
Your lot's practically an endangered species by now. No chance you'll be listened to this cycle around, but often, that's when advocacy's most important.
At first I wasn't sure if you wrote this and it was published by AIER. Took me a minute to click through and figure it out. You might want to put Vince's name at the top to avoid confusion
Your disclaimer is so thorough and convincing, I can't wait to invest my life savings based on your expertise and attention to detail!
On top of that, your assessment of Bidenomics is spot on… how will future generations look back on this madness?
Forgetfully…
Poorly, I’m afraid pun intended
Good morning. Wow. Posting before 0500! Sweet. Haven’t read it yet but it’s next on the list. I’ve been up all night reading. I just checked my portfolio and found that I stopped out of a couple positions yesterday. I’m smelling something burning, like an incoming limit down. Have a great day. Eric
All eyes on Nvidia today...
Yeah it’s crazy. All eyes on the FED is bad enough. Now it’s all eyes on one stock.
I agree with you. It seems like things are really teetering
I’m an idiot as well. My wife gloats with her 400 shares of NVDA. I buy long OOTM put options as insurance.
Ha. A word I have not heard to describe our current circumstances, but one that conjures up a childhood memory of being the 2nd grade lightweight sitting on the end of the plank waiting for someone to come along.
And someone does. And it’s the big, fat 6th grade bully who didn’t come to play nice.
Although a couple days later he got ambushed behind the power substation by a large group of 4th graders and the results weren’t pretty.
There is always hope. (True story from OMG 60 years ago).
Biden/Trump are experts at spending other people's money. We need someone under 70, preferably someone under 60 without major controversy and/or a lifetime political paycheck.
Should just go with the Warren Buffett proposal:
Pass a law that if the deficit exceeds 3% of GDP, all incumbent members of Congress become ineligible for reelection.
If it was me, I would extend this to Senate and POTUS as well. Make everyone accountable.
Make all incumbents ineligible? Even those who consistently are frugally conservative and vote against exorbitant spending bills? Reminds me of the teachers in grade school who would punish the entire class because of the bad behavior of one or two idiots.
Because you imagine "running the government" is such a tough job or that we can't find another useful idiot to fill the position.
If it were up to me, they would get zero pay. We could provide meals and housing while they were in DC, but that is it.
I listened to this argument about how we found a "good" one and need to be able to keep them, so term limits is a bad thing. How's that working out?
It doesn't take a genius to follow the rule book. The geniuses created the rule book. We call it a Constitution. Now we just need men with average intelligence to follow it. What they need in abundance is character and integrity. People with character and integrity don't want to spend their lives in DC coming up with ways to tell everyone else what they can and cannot do.
I wouldn't recommend that rule - the EU has that rule and it has cost them significant economic growth, with real wage declines, a decade of stagnation and current recessions.
Government debt is simply an inter-generational savings tools - how do we incentivize today's working people to invest in projects that will pay off only when they're already retired. That's where government debt comes in because the future generation that will benefit from these projects will increase consumption of the retirees (the ones that hold the government debt) by paying back the bonds.
1. Record Stawk markets
2. Record unemployment.
3. Record oil/gas production.
Based on those three metrics alone, and Trump's personal standards, shouldn't Joe Biden be the greatest President eva, and this be the greatest economy eva?
Everyone talks about inflation as if it just came along when the talking heads started telling everyone it was here. Shit. Prices have been going up my entire life. How did they stop the inflation of $140 barrel of oil back in 2011? Damn sure wasn't by raising rates. We've been in an inflationary spiral for at least 15 years.
Inflation is a constant in this debt ridden economy controlled by a central bank. I laugh my ass off when people start talking like the banks are "working for us" or "are doing what's best for the economy." That's like walking around saying, "Those wolves, boy, they sure take care of those sheep!" That is just how easy and stupid we have become.
Differences between now and 2019? Sure prices are a little higher. There are more illegals running around. But any negatives should be offset by all that money you're making with your stawks and shitcoin, right?
Yep, greatest eva!
Round 2 of inflation is coming in the next 24 months. It is going to be a repeat of the 1970's.
It is going to be crippling to the middle class and below.
Only savior we could have is a Javier Milei plan and eliminate 75%+ of government spending. Turn the damn printer off. We will have a couple rough years as GDP comes crashing down (government spending accounts for 36% of GDP).
However once that happens the free markets will replace what the government was doing in a wasteful manner.
Our economy will become leaner and more efficient. But this only works if our society is not so damn stupid to keep electing these power hungry candidates.
“Lies, damned lies, and statistics” prove Bidenomics is working!
"In short, we need a fiscal rule of a spending limit covering the entire budget based on a maximum rate of population growth plus inflation."
Then where's the incentive for the crooked politicos (of either party)?
EMERGENCY EMERGENCY
This article is informative but utterly filled with “hopeum”. The premise is adherence to passing a fiscal limit law. Absurd. Requiring a self imposed law drafted and signed by leaders who are hell bent on lawlessness. The only fix is a total monetary reset with all government spending on a blockchain so every citizen can know, and demand answers, as to where their taxes are going. But first, we must have an awakened populace willing to assert the premise of “We the people”. This starts in the American churches, of which most are complacent milquetoasts. “The fear of the Lord is the beginning of wisdom”. Boy, do we need some wisdom.
As we march towards November, the news from Gov't derived statistics will become ever so much more rosy!
A fiscal conservative?
Your lot's practically an endangered species by now. No chance you'll be listened to this cycle around, but often, that's when advocacy's most important.
At first I wasn't sure if you wrote this and it was published by AIER. Took me a minute to click through and figure it out. You might want to put Vince's name at the top to avoid confusion
Good article, linked it a few days ago, Saturday, as well @https://nothingnewunderthesun2016.com/