The SAB formula makes sense, but the "plus inflation" part seems to discount the fact that government spending has been the key driver of this blistering surge in inflation. I think it will reduce its effectiveness. Great write-up on a topic many in DC don't dare discuss. Austerity seems like a thing of the past yet we face a mountain of difficult decisions and great economic pain. In 2019 a client asked me to evaluate Biden's economic plan, which included a lot of GND boondoggle stuff, and along the way I read the Moody's (Mark Zandi) glowing summary. In my report, I told the client this economic/infrastructure plan - if enacted - would do little to address our failing infrastructure, would be inflationary, and would blatantly redistribute wealth to blue states. Yet I had no clue that out of control illegal immigration would be like jet fuel for inflation when it comes to rent, food and medical care. It's unsurprising we ended up here and most of us foresaw this impending disaster. While Biden's economic advisors have put their costly idealism (ESG, DEI and Climate) ahead of everything else, it has become crystal clear that they are both inept and incompetent and have a complete and total disregard for the timeless, powerful and unbreakable laws of economics.
The debt-serf system does not work UNLESS you have an ignorant electorate. It's designed that way, it's pervasive throughout society. Notice when you meet with a cashier that can't count. Or spell. Or get from point a to point b. Or even function outside their electronic device. It's remarkable. When I do run into those not glued to their device, who actually think, I encourage them. If time/circumstances permit, I find out what their dreams are and press them to pursue them..."you're too smart for this" works.
I will not give up on our youth. They really are our future and many have been powerfully influenced by factors greater than I had to deal with in my own self-inflicted tumultuous youth. I talk to them. I show them respectful & genuine interest. What is the point of aging gracefully other than sharing Wisdom? Wisdom is designed to be shared. Which tidbit do I almost always share? Debt = slavery. Debt steals from your future. Debt gives you less choices. Debt may force you to compromise your integrity. Oh, and 'be kind'. Because Karma is real.
I commend you for your patience and your faith. The youth are always our future I just fear too many of the last two generations are too swayed by shiny objects. Perhaps not? I was young and dumb once and grew up but I also didn’t have to try to safety navigate thru so much institutional, social, and political garbage on my journey to adulthood. Every generation says “these times are different”, but these times truly are.
Just print more money. Everyone will be a millionaire and feel like a big shot.
Doesn't matter if Trump wins - nothing will change. Our government is past corrupt - they are going to ride the good life as long as possible and when it blows up - they will jump ship.
A democratic government, once it has reached the point of being elected by buying votes, will never reduce spending. No matter what. We have, essentially, the dumbest 535 employed people in America running the show.
We can yak all year, for decades, about our debt. No one in government cares, no one in government will be alive when the bill comes due, no one in government participates in Social Security, so for them to worry about it going bankrupt is not gonna happen.
Bankrupting the future to salve consciences today about “Oh, that poor…” whatever, is due to the votes of those placing empathy before reality, and the childless - neither of whom should be enfranchised. And the idea government ever can or will get spending under control without disenfranchising the empathy vote by repealing 19A, is childish fantasy.
Clearly the only time the elected morons will do anything fiscally responsible is when it will help them get elected. This will never happen in the kick the can down the road, free shit country we have today.
“This level of debt per citizen exceeds $100,000” When President Shitzinpantz is re-elected, he can just forgive the debt, like he did the student loan debt.
So let’s see… student loan forgiveness for congressional staff member attending a private university; a $75 billion program for installing charging stations resulting in seven stations after two years; a $42+ billion program to deploy high speed internet infrastructure that in approximately three years has NOT CONNECTED one person. Some might ask how - probably the environmental regs/NGOs that need to study, analyze and report and be paid hundreds of millions to get in the fucking way but still lets the administration say they are helping the poor and underprivileged (votes). American taxpayers becoming too stupid, tired or ambivalent ensures there is no catalyst for change. Keep pounding the message QTR, maybe we’ll get it…
The SAB formula makes sense, but the "plus inflation" part seems to discount the fact that government spending has been the key driver of this blistering surge in inflation. I think it will reduce its effectiveness. Great write-up on a topic many in DC don't dare discuss. Austerity seems like a thing of the past yet we face a mountain of difficult decisions and great economic pain. In 2019 a client asked me to evaluate Biden's economic plan, which included a lot of GND boondoggle stuff, and along the way I read the Moody's (Mark Zandi) glowing summary. In my report, I told the client this economic/infrastructure plan - if enacted - would do little to address our failing infrastructure, would be inflationary, and would blatantly redistribute wealth to blue states. Yet I had no clue that out of control illegal immigration would be like jet fuel for inflation when it comes to rent, food and medical care. It's unsurprising we ended up here and most of us foresaw this impending disaster. While Biden's economic advisors have put their costly idealism (ESG, DEI and Climate) ahead of everything else, it has become crystal clear that they are both inept and incompetent and have a complete and total disregard for the timeless, powerful and unbreakable laws of economics.
I'd enjoy reading your analysis. I will certainly refer to the article to which you refer. Thank you for your comment. 🙏
All very valid suggestions, but with a predominately economically ignorant electorate that our despicable politicians
pander to, what’s the odds while we await the next financial disaster?
The debt-serf system does not work UNLESS you have an ignorant electorate. It's designed that way, it's pervasive throughout society. Notice when you meet with a cashier that can't count. Or spell. Or get from point a to point b. Or even function outside their electronic device. It's remarkable. When I do run into those not glued to their device, who actually think, I encourage them. If time/circumstances permit, I find out what their dreams are and press them to pursue them..."you're too smart for this" works.
I will not give up on our youth. They really are our future and many have been powerfully influenced by factors greater than I had to deal with in my own self-inflicted tumultuous youth. I talk to them. I show them respectful & genuine interest. What is the point of aging gracefully other than sharing Wisdom? Wisdom is designed to be shared. Which tidbit do I almost always share? Debt = slavery. Debt steals from your future. Debt gives you less choices. Debt may force you to compromise your integrity. Oh, and 'be kind'. Because Karma is real.
Peace to all.
Amen
I commend you for your patience and your faith. The youth are always our future I just fear too many of the last two generations are too swayed by shiny objects. Perhaps not? I was young and dumb once and grew up but I also didn’t have to try to safety navigate thru so much institutional, social, and political garbage on my journey to adulthood. Every generation says “these times are different”, but these times truly are.
They are, indeed, challenging times.
It certainly feels like earthquake-level energy is shakin' things up.
In the meanwhile, it's summer!
Just print more money. Everyone will be a millionaire and feel like a big shot.
Doesn't matter if Trump wins - nothing will change. Our government is past corrupt - they are going to ride the good life as long as possible and when it blows up - they will jump ship.
A democratic government, once it has reached the point of being elected by buying votes, will never reduce spending. No matter what. We have, essentially, the dumbest 535 employed people in America running the show.
We can yak all year, for decades, about our debt. No one in government cares, no one in government will be alive when the bill comes due, no one in government participates in Social Security, so for them to worry about it going bankrupt is not gonna happen.
Bankrupting the future to salve consciences today about “Oh, that poor…” whatever, is due to the votes of those placing empathy before reality, and the childless - neither of whom should be enfranchised. And the idea government ever can or will get spending under control without disenfranchising the empathy vote by repealing 19A, is childish fantasy.
Clearly the only time the elected morons will do anything fiscally responsible is when it will help them get elected. This will never happen in the kick the can down the road, free shit country we have today.
When does the system blow up?
“This level of debt per citizen exceeds $100,000” When President Shitzinpantz is re-elected, he can just forgive the debt, like he did the student loan debt.
Damn right, well said.
So let’s see… student loan forgiveness for congressional staff member attending a private university; a $75 billion program for installing charging stations resulting in seven stations after two years; a $42+ billion program to deploy high speed internet infrastructure that in approximately three years has NOT CONNECTED one person. Some might ask how - probably the environmental regs/NGOs that need to study, analyze and report and be paid hundreds of millions to get in the fucking way but still lets the administration say they are helping the poor and underprivileged (votes). American taxpayers becoming too stupid, tired or ambivalent ensures there is no catalyst for change. Keep pounding the message QTR, maybe we’ll get it…
So the solution is austerity for the poor and no new taxes for the rich?
Wishful thinking, politicians do what’s best for USA??Get real
The sense that is common.