In lieu of the Johnson plan to reinforce the nation’s headlong drift toward fiscal calamity and a prosperity and liberty crushing $150 trillion public debt by mid-century, there is actually a realistic fiscal path consistent with current Trump/DOGE positioning that would cap the public debt permanently at $39.5 trillion. That is, the King of Debt
Oh boy, Elon and the Donald may have stumbled upon something big. We are talking about a real narrative changer with respect to America’s headlong plunge into fiscal ruin. As it is, you can pillory today’s $36 trillion public debt, which will be $70 trillion within the decade and a staggering and society-crushing $150 trillion […]
There is not a snowball’s chance in the hot place of containing America’s public debt disaster unless the Empire is brought home and the national security budget is slashed by $500 billion per year. The merits aside, all the other big slices of the budget led by Social Security and Medicare are surrounded by nearly […]
(Note to subscribers: The work of the Musk & Ramaswamy Commission DOGE is currently the most important thing happening in both the economic and political world. David Stockman has been asked by people close to the process to provide a blueprint on how a solid defensible $2 trillion savings plan could be put together by […]
Well, you can say this much about the Donald’s off-the-wall pick of Fox’s weekend news commentator, Pete Hegseth, for Secretary of Defense: At least it wasn’t a hard-core neocon like House Armed Services Chair Mike Rogers (R-Ala), Sen. Joni Ernst (R-Iowa) or the horrid Senator Tom Cotten of Arkansas. Better a cheerleader for patriotism and […]
Can someone please tell these people to hang it up? We are referring to the hideously inept gang of monetary central planners domiciled in the Eccles Building, who slashed interest rates by 50 basis points on the apparent fear that recession was imminent and that prophylactic measures were urgently needed. So we got another […]
Our Keynesian monetary central planners never say I’m sorry—they just make excuses until they can cherry-pick the data to show that their destructive policies are working. The producer price report for August, which showed year-over-year (Y/Y) change in the PPI final demand index (black line) of just 1.76%, is surely a case in point. […]
The Fed has spent the last 16 years fueling the mother of all financial bubbles on Wall Street. And by way of spill-over effects on the mortgage market, it has also fostered parallel bubbles in commercial and residential real estate assets alike, across the length and breadth of the land. These bubbles are once […]
Like the case of Rome before it, the Empire is bankrupting America. The true fiscal cost of the national security budget is now upwards of $1.3 trillion per year (counting veterans expense and international operations and aid), but there is no way to pay for it. That’s because the 78-million strong Baby Boomers are […]
It is truly amazing that the Keynesian and statist fanboys at both ends of the Acela Corridor continue to believe that monetary and fiscal stimmies are effective when the evidence keeps on pouring in that they are not. Recently came more proof—this time in the form of a wimpy 1.2% gain in Q1 real […]
The stock market has long been drastically over-valued owing to the Fed’s chronic money-pumping and price-keeping operations. But since the interim low of October 11, 2022 at 3,588 on the S&P 500 the boys and girls down in the canyons of Wall Street have lost their minds completely. The index now stands at nearly […]
These people have to be stopped! We are talking about the nation’s unhinged monetary politburo domiciled in the Eccles Building, of course. It is bad enough that their relentless inflation of financial assets has showered the 1% with untold trillions of windfall gains, but their ultimate crime is that they lured the nation’s elected […]
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