Can’t think of anything positive to add. The ignorance, selfishness and arrogance of the citizenry is on full display, voting for the quick fix and sacrificing our future. The best country the world has ever known soon to be a distant memory.
Powerful, brutal and hard reality facing article. I can't see any straightforward pathway at this moment to resolve this without a substantial amount of turmoil. The source for that is unraveling before us now.
Keep in mind the massive US debt and deficits. Social security and medicare are about to eat the budget alive, and the only politically feasible way to renege on those promises is to have high real inflation, and not-so-high official inflation.
We are getting a taste of that already, but it's just a taste. I have put the CBOs budget projections into a spreadsheet and substituted more realistic interest rates for their ridiculous assumption of 3.25% to 3.5% borrowing rates (as we run cash deficits of $2 trillion increasing to $3 trillion). Just putting in interest rates that gently rise to 8.5% makes out deficits balloon to over $6 trillion in 2034, and the publicly held debt goes to 159% of GDP. And that model still has some pretty unrealistically rosy economic assumptions.
Mr. Faddis, Poignant reminders of what the founding fathers gave us, and what we have devolved into. Will we see a bloodless change of power? I fear not, the 2020 election saw death and massive destruction. What we have thus far avoided is large loss of life during our change of power, if you don't count the current wars we seem to be fomenting. All American citizens are touched by rampant inflation and devaluation of currency and assets. America is in a nose-dive and the man behind the controls doesn't know which way to move the stick. The political parties seem only interested in power and control. The sudden stop we are headed for will not be pretty.
Lots of 🙏🏼 is needed. It’s our only ticket out of this disaster.
Can’t think of anything positive to add. The ignorance, selfishness and arrogance of the citizenry is on full display, voting for the quick fix and sacrificing our future. The best country the world has ever known soon to be a distant memory.
Powerful, brutal and hard reality facing article. I can't see any straightforward pathway at this moment to resolve this without a substantial amount of turmoil. The source for that is unraveling before us now.
Keep in mind the massive US debt and deficits. Social security and medicare are about to eat the budget alive, and the only politically feasible way to renege on those promises is to have high real inflation, and not-so-high official inflation.
We are getting a taste of that already, but it's just a taste. I have put the CBOs budget projections into a spreadsheet and substituted more realistic interest rates for their ridiculous assumption of 3.25% to 3.5% borrowing rates (as we run cash deficits of $2 trillion increasing to $3 trillion). Just putting in interest rates that gently rise to 8.5% makes out deficits balloon to over $6 trillion in 2034, and the publicly held debt goes to 159% of GDP. And that model still has some pretty unrealistically rosy economic assumptions.
We must make sure to notice every move by the players of this unholy left. Expose
Mr. Faddis, Poignant reminders of what the founding fathers gave us, and what we have devolved into. Will we see a bloodless change of power? I fear not, the 2020 election saw death and massive destruction. What we have thus far avoided is large loss of life during our change of power, if you don't count the current wars we seem to be fomenting. All American citizens are touched by rampant inflation and devaluation of currency and assets. America is in a nose-dive and the man behind the controls doesn't know which way to move the stick. The political parties seem only interested in power and control. The sudden stop we are headed for will not be pretty.