In this article, you wrote “… our nation’s spending addiction can be more directly attributed to Democrats’ obsession with larger government and more control.” I have to disagree. George W. Bush - a Republican - greatly expanded the government and its control over our lives with the creation of the Department of Homeland Security.
Both parties are part of the problem; they all agree on war spending above all else.
Congressional members of both parties are almost wholly owned by corporate interests. Now we can see the security services are all politicized. We have no democracy. (I believe it died with John F. Kennedy, not that it was perfect before that.)
Agree that both "parties" align re: war. (There really are not two distinct parties.) But where the Dems are worse is the "social" spending so that they can buy votes from their preferred groups. That's the other half of the debt issue. They both add up to debt and inflation.
And the Republicans are worse on tax cuts. Both end up benefiting the oligarchs who own them, not we, the (99%) of citizens. Full disclosure: I detest both parties.
Whether the debt ceiling is raised, or not, it does not matter. The accumulated deficits [the national debt] will never be repaid, nor should it. It represents the many decades of funding unconstitutional federal governement departments and agencies, spending m/b/trillions on manufactured conflicts and wars around the world, money laundering, and otherwise, totally unnecessary government programs. The American citizens and their future generations are not responsible for the debt. The only remedy is a default and bankruptcy of the federal [corporation] government, followed by a complete dismantling of the unconstituional [almost all] elements of the existing structure. Let the pieces fall where they may and let the traitors face military tribunals. Nothing less.
"printing new money as often as sam brinton comes home with a new piece of luggage". I'm dead LMAO, pat yourself on the back for this one Chris and take the rest of the month off, you've earned it.
this is the low hanging fruit type of humor that gets me to LOL every time... the minute I read that name I think of the picture of his mugshot that ZH posted after they/them arrest
I'm Canadian so I can be forgive for not immediately putting a face to the name so thanks for the twitter link.
I've seen mug shots before. Usually, they make a person look worse than they do in the day-to-day life. But in this case, Brinton actually looks better.
Good one Chris. Actually, IMHO if the US lived within its means and balanced the spending with revenues and started paying down the national debt, it would bring strength to the Dollar and in time bring more prosperity to the people of the country and the world. It is needed. Unless you have lived overseas and become familiar with the lives of the billions outside of the US and Western Europe, you have little clue how most of the world lives.
What you say about the world "outside of the USA" is spot on. 100% true William.
The one thing I will disagree with you about is America's debt. It is a FACT that America's debt will NEVER be paid down. The government can't even cover interest on the debt. And the out-of-control, economically illiterate idiots in the US Congress will NEVER balance the INSANE 'budget.' That will never happen. The collapse is coming. Guaranteed.
Meanwhile, have an awesome day and thank you for your post here today.
I've often speculated that this entire 'great reset' business is more about resolving the global debt with the cabal pushing the agenda using this time we have now to grab as much fiat, assets, control etc to make sure they stay on top after the fall out.
History has a way of showing that that never works well.
I think that's the "reset" they are actually talking about: defaulting on debt, resetting via a new digital currency, all while trying to maintain their level of political power, wealth, and lifestyle. I've noticed none of their plans, policy papers, speeches, books, etc. is based on THEM giving anything up. Even though they are actually the source of the "problems" they claim to care about.
Hi Steven, I don't disagree with you. If they kept interest rates low they could start somewhere. Obviously, it will not happen and as Greg reminds us day in and day out they have a new system in store for all is slaves.
The banksters in America and around the world may or may not be evil, but they are definitely greedy, self-centered, corrupted people, whose knowledge of economics, money and the money markets is limited to their ability to manipulate interest rates, the foreign exchange market and bet against the purposefully bad advice they give to their customers. I used to work with people like them. They were greedy liars, thieves and manipulators with no honest conscience of mind, whose primary focus was to make as much money as possible for themselves on a daily basis.
These are the reasons I left the investment banking business years ago. It was a very sick and immoral environment in which to work and it still is today.
Every single person with two or more functioning brain cells absolutely knew that, apart from the hysteric covid "response" being disastrous for a large number of very good reasons, we simply could not afford to do it as nation!!
That was the absolute dumbest fucking shit that any criminally insane morons have ever put together in the history of mankind. That was suicide. The limp carcass of our country, sure still breathing slightly, has been mortally wounded.
As you mentioned, and no sober person could deny, our country was already way the fuck in over its head. Just like the dollar will, at some point, not be the world's reserve currency. So too, default is just a matter of time.
Ditto. The USA has been in default since the 1960's. Prior to then, Congress always balanced the budget.
Over the last 60 years the country has been amassing huge debts and never pays it down.
It 'thinks' (stupidly) that the country will never collapse. It is already bankrupt and has been bankrupt for many decades, but not one person in government will admit this fact. They are all in denial about it or just plain ignorant about it ... mostly ignorant.
The secretly operated Federal Reserve 'System' is a Ponzi Scheme. In fact, in monetary terms, it is the largest Ponzi scheme in world history.
The sad part about this is that fewer than 1% of the population in the U.S. have any clue whatsoever about the fact that the U.S. Treasury, the Federal Reserve 'System' and the Federal Reserve 'Bank' are at the core of thid collosal Ponzi. They collude together (at the behest of the economic illiterates in Congress,) to print the country's fiat currency, dollar banknotes, (which are inherently worthless since they have no intrinsic value,) to fund the military, prop up the insolvent Social Security Fund (from which, George Herbert Walker Bush misappropriated billions with the tacit blessings of Congress) and waste on their so-called 'Pork Belly' projects.
This huge scam, this gigantic Ponzi continues ... with one budget after the next, after the next, after the next. Rinse and Repeat as it goes.
Sadly, less than 1% of Americans, roughly 3 million people, have any understanding about this criminal enterprise, which is running their country. No clue.
And 3 million are not enough to force positive change in their government. 300 couldn't do it on 6 January 2021. Unless TES of MILLIONS of peaceful protestors march (without guns) ... not to the Capitol building ... but rather, to the Treasury building and to the Federal Reserve Bank building and fill every single street in Washington, District of Columbia, NOTHING will change.
The USA is doomed and when the USA collapses, it will take down the other 'developed' nations with it, mainly, Canada, and all of Europe. The Great Depression of the 1930's will look like a tea party in comparison to what is coming.
It will be the biggest disaster human beings on this planet have ever experienced.
May peace be with all who read this post. God bless you.
I agree Chris, this kabuki theater that we are forced to go through it every couple of years is beyond tiring.
These corrupt government officials scurry on to the television and read off their Scripts, pretending to do something, pretending to care. While there partner in crime, the main stream state media, plays along to produce there propaganda reality TV show for the Sheeple.
The current hit job on the regional banks. Ignoring the Dobbs banking law. Planning to go around Congress to increase the debt ceiling. CBDC 😒
These actions are not those of concerned countrymen. Just the very opposite.
To quote a phrase from the movie, captain America the winter soldier: Hail Hydra
Agree that its kabuki theater. Why do we even have a debt ceiling at this point? All spending/revenue bills have to originate in the House right? The debt ceiling is a fig leaf. Just get rid of it. Be honest with the lenders (that they aren't getting repaid) and stop having it be used as a club against incumbent President when the opposite party controls the House.
I think we all just need to draw the lines better for people. The average American simply doesn't understand that the reason "things are so bad" is that we've spent ourselves into oblivion with manufactured wars for the rich and social programs to buy votes from the poor and certain favored groups. That is the source of all our problems, including the day-to-day problems that citizens face, especially parents these days. Note NavyPack's comment. It all generates an onerous hidden tax on the working and middle classes via inflation.
Italy.. yes, we indeed have a few more public debt on gdp, but we have a lot less total (pub+priv) debt on gdp than a lot of our bigger and better brothers...
Sir, I humbly suggest You to look at Tom Luongo's substack, he has a very interesting theory about the widening split between Fed and Treasury... like Captain America Vs. Hydra, and this could help understanding what's going on... US Fed vs Us Davos' puppets... and I'm ashamed to live in their reign... :(
Are you saying the continued printing of money (i.e., M2), official inflation (tweaks to swap steak to burgers), and unofficial inflation (adding impact of assets) are basically a slow-moving, continuous default?
Check your facts regarding which party adds the most to the debt (see below). The democrats do spend more on social spending. They both never question adding to the defense budget. The republicans are great at tax relief for the 1% and tax breaks for corporations. Neither worries about national debt when they are in control of congress and executive branch.
President Regan added $1.86 trillion to the national debt, a 186% increase from the $997.8 billion debt at the end of Carter's last budget
President H.W. Bush added $1.55 trillion to the debt, a 54% increase from the $2.857 trillion debt at the end of Reagan's last budget
President Clinton increased the national debt by almost $1.4 trillion, almost a 32% increase from the $4.4 trillion debt at the end of President H.W. Bush's last budget.
President Bush added $5.85 trillion to the national debt, a 101% increase from the $5.8 trillion debt at the end of Clinton's last budget for fiscal year 2001.
President Obama added about $8.6 trillion, about a 74% increase, to the national debt at the end of President Bush’s last budget in 2009.
President Trump added $6.7 trillion to the debt between fiscal year 2017 and fiscal year 2020, a 33.1% increase,
In this article, you wrote “… our nation’s spending addiction can be more directly attributed to Democrats’ obsession with larger government and more control.” I have to disagree. George W. Bush - a Republican - greatly expanded the government and its control over our lives with the creation of the Department of Homeland Security.
Both parties are part of the problem; they all agree on war spending above all else.
Fair point.
Based on the data it even looks worse with the conservatives. War tends be a black hole for spending without producing any revenue.
Congressional members of both parties are almost wholly owned by corporate interests. Now we can see the security services are all politicized. We have no democracy. (I believe it died with John F. Kennedy, not that it was perfect before that.)
Agree that both "parties" align re: war. (There really are not two distinct parties.) But where the Dems are worse is the "social" spending so that they can buy votes from their preferred groups. That's the other half of the debt issue. They both add up to debt and inflation.
And the Republicans are worse on tax cuts. Both end up benefiting the oligarchs who own them, not we, the (99%) of citizens. Full disclosure: I detest both parties.
and let's not forget Reagan.
And you are seriously peddling the Laffer curve? Still? FFS.
Whether the debt ceiling is raised, or not, it does not matter. The accumulated deficits [the national debt] will never be repaid, nor should it. It represents the many decades of funding unconstitutional federal governement departments and agencies, spending m/b/trillions on manufactured conflicts and wars around the world, money laundering, and otherwise, totally unnecessary government programs. The American citizens and their future generations are not responsible for the debt. The only remedy is a default and bankruptcy of the federal [corporation] government, followed by a complete dismantling of the unconstituional [almost all] elements of the existing structure. Let the pieces fall where they may and let the traitors face military tribunals. Nothing less.
"printing new money as often as sam brinton comes home with a new piece of luggage". I'm dead LMAO, pat yourself on the back for this one Chris and take the rest of the month off, you've earned it.
this is the low hanging fruit type of humor that gets me to LOL every time... the minute I read that name I think of the picture of his mugshot that ZH posted after they/them arrest
https://twitter.com/zerohedge/status/1603126981335228416
I'm Canadian so I can be forgive for not immediately putting a face to the name so thanks for the twitter link.
I've seen mug shots before. Usually, they make a person look worse than they do in the day-to-day life. But in this case, Brinton actually looks better.
True, LMAO very photogenic without the lipstick!
Well said Chris.
"Getting it over with" feels a lot like the title of John Michael Greer's book "Collapse Now and Avoid the Rush."
I too subscribe to that option.
Good one Chris. Actually, IMHO if the US lived within its means and balanced the spending with revenues and started paying down the national debt, it would bring strength to the Dollar and in time bring more prosperity to the people of the country and the world. It is needed. Unless you have lived overseas and become familiar with the lives of the billions outside of the US and Western Europe, you have little clue how most of the world lives.
Hello William,
What you say about the world "outside of the USA" is spot on. 100% true William.
The one thing I will disagree with you about is America's debt. It is a FACT that America's debt will NEVER be paid down. The government can't even cover interest on the debt. And the out-of-control, economically illiterate idiots in the US Congress will NEVER balance the INSANE 'budget.' That will never happen. The collapse is coming. Guaranteed.
Meanwhile, have an awesome day and thank you for your post here today.
"God Save The King"
I've often speculated that this entire 'great reset' business is more about resolving the global debt with the cabal pushing the agenda using this time we have now to grab as much fiat, assets, control etc to make sure they stay on top after the fall out.
History has a way of showing that that never works well.
I think that's the "reset" they are actually talking about: defaulting on debt, resetting via a new digital currency, all while trying to maintain their level of political power, wealth, and lifestyle. I've noticed none of their plans, policy papers, speeches, books, etc. is based on THEM giving anything up. Even though they are actually the source of the "problems" they claim to care about.
Bullseye 🎯
You hit the Bullseye RU 🎯
🤗 🤗 🤗 🤗 🤗
Exactly.
Hi Steven, I don't disagree with you. If they kept interest rates low they could start somewhere. Obviously, it will not happen and as Greg reminds us day in and day out they have a new system in store for all is slaves.
The banksters in America and around the world may or may not be evil, but they are definitely greedy, self-centered, corrupted people, whose knowledge of economics, money and the money markets is limited to their ability to manipulate interest rates, the foreign exchange market and bet against the purposefully bad advice they give to their customers. I used to work with people like them. They were greedy liars, thieves and manipulators with no honest conscience of mind, whose primary focus was to make as much money as possible for themselves on a daily basis.
These are the reasons I left the investment banking business years ago. It was a very sick and immoral environment in which to work and it still is today.
They sound like the personification of evil to me!
We are are going to pull an Animal House on everybody. We can't spend our whole lives worrying about our mistakes....https://www.youtube.com/watch?v=LARx7M9s15w&t=2s
I do not understand the narrative of "raising" the ceiling when we have zero intentions of repaying the money back.
This Ponzi Scheme is the biggest in history and we have allowed our media and POS elected officials get away with it. We should all be embarrassed.
Every single person with two or more functioning brain cells absolutely knew that, apart from the hysteric covid "response" being disastrous for a large number of very good reasons, we simply could not afford to do it as nation!!
That was the absolute dumbest fucking shit that any criminally insane morons have ever put together in the history of mankind. That was suicide. The limp carcass of our country, sure still breathing slightly, has been mortally wounded.
As you mentioned, and no sober person could deny, our country was already way the fuck in over its head. Just like the dollar will, at some point, not be the world's reserve currency. So too, default is just a matter of time.
Ditto. The USA has been in default since the 1960's. Prior to then, Congress always balanced the budget.
Over the last 60 years the country has been amassing huge debts and never pays it down.
It 'thinks' (stupidly) that the country will never collapse. It is already bankrupt and has been bankrupt for many decades, but not one person in government will admit this fact. They are all in denial about it or just plain ignorant about it ... mostly ignorant.
The secretly operated Federal Reserve 'System' is a Ponzi Scheme. In fact, in monetary terms, it is the largest Ponzi scheme in world history.
The sad part about this is that fewer than 1% of the population in the U.S. have any clue whatsoever about the fact that the U.S. Treasury, the Federal Reserve 'System' and the Federal Reserve 'Bank' are at the core of thid collosal Ponzi. They collude together (at the behest of the economic illiterates in Congress,) to print the country's fiat currency, dollar banknotes, (which are inherently worthless since they have no intrinsic value,) to fund the military, prop up the insolvent Social Security Fund (from which, George Herbert Walker Bush misappropriated billions with the tacit blessings of Congress) and waste on their so-called 'Pork Belly' projects.
This huge scam, this gigantic Ponzi continues ... with one budget after the next, after the next, after the next. Rinse and Repeat as it goes.
Sadly, less than 1% of Americans, roughly 3 million people, have any understanding about this criminal enterprise, which is running their country. No clue.
And 3 million are not enough to force positive change in their government. 300 couldn't do it on 6 January 2021. Unless TES of MILLIONS of peaceful protestors march (without guns) ... not to the Capitol building ... but rather, to the Treasury building and to the Federal Reserve Bank building and fill every single street in Washington, District of Columbia, NOTHING will change.
The USA is doomed and when the USA collapses, it will take down the other 'developed' nations with it, mainly, Canada, and all of Europe. The Great Depression of the 1930's will look like a tea party in comparison to what is coming.
It will be the biggest disaster human beings on this planet have ever experienced.
May peace be with all who read this post. God bless you.
Spot on.
I agree Chris, this kabuki theater that we are forced to go through it every couple of years is beyond tiring.
These corrupt government officials scurry on to the television and read off their Scripts, pretending to do something, pretending to care. While there partner in crime, the main stream state media, plays along to produce there propaganda reality TV show for the Sheeple.
The current hit job on the regional banks. Ignoring the Dobbs banking law. Planning to go around Congress to increase the debt ceiling. CBDC 😒
These actions are not those of concerned countrymen. Just the very opposite.
To quote a phrase from the movie, captain America the winter soldier: Hail Hydra
Agree that its kabuki theater. Why do we even have a debt ceiling at this point? All spending/revenue bills have to originate in the House right? The debt ceiling is a fig leaf. Just get rid of it. Be honest with the lenders (that they aren't getting repaid) and stop having it be used as a club against incumbent President when the opposite party controls the House.
1,000% CORRECT Woke1 !
1,000% Spon on!
We're on the same page Sir.
(or Ma'am ... excuse me please. Not trying to be politically correct, incorrect, woke, whatever.)
Glad I'm prepared for all the 💩 that's going to be hitting the proverbial fan soon!
I say, 'Good luck to the Americans!'
and the Europeans and the Canadians. They are going down with the DSA.
On point
The lower quality of life is already here. Just look at the rising homelessness, deaths of despair, and Americans having shorter lifespans.
https://www.zerohedge.com/medical/deaths-despair-now-significant-among-young
Totally true.
Extremely sad.
And true.
I think we all just need to draw the lines better for people. The average American simply doesn't understand that the reason "things are so bad" is that we've spent ourselves into oblivion with manufactured wars for the rich and social programs to buy votes from the poor and certain favored groups. That is the source of all our problems, including the day-to-day problems that citizens face, especially parents these days. Note NavyPack's comment. It all generates an onerous hidden tax on the working and middle classes via inflation.
Italy.. yes, we indeed have a few more public debt on gdp, but we have a lot less total (pub+priv) debt on gdp than a lot of our bigger and better brothers...
Sir, I humbly suggest You to look at Tom Luongo's substack, he has a very interesting theory about the widening split between Fed and Treasury... like Captain America Vs. Hydra, and this could help understanding what's going on... US Fed vs Us Davos' puppets... and I'm ashamed to live in their reign... :(
Are you saying the continued printing of money (i.e., M2), official inflation (tweaks to swap steak to burgers), and unofficial inflation (adding impact of assets) are basically a slow-moving, continuous default?
Check your facts regarding which party adds the most to the debt (see below). The democrats do spend more on social spending. They both never question adding to the defense budget. The republicans are great at tax relief for the 1% and tax breaks for corporations. Neither worries about national debt when they are in control of congress and executive branch.
President Regan added $1.86 trillion to the national debt, a 186% increase from the $997.8 billion debt at the end of Carter's last budget
President H.W. Bush added $1.55 trillion to the debt, a 54% increase from the $2.857 trillion debt at the end of Reagan's last budget
President Clinton increased the national debt by almost $1.4 trillion, almost a 32% increase from the $4.4 trillion debt at the end of President H.W. Bush's last budget.
President Bush added $5.85 trillion to the national debt, a 101% increase from the $5.8 trillion debt at the end of Clinton's last budget for fiscal year 2001.
President Obama added about $8.6 trillion, about a 74% increase, to the national debt at the end of President Bush’s last budget in 2009.
President Trump added $6.7 trillion to the debt between fiscal year 2017 and fiscal year 2020, a 33.1% increase,
Relax, we can't default. We have a printing press. Everything will be fine. An MMT theorist told me so. 😆