"The Ripple-Effects Of The Government Lockdown Are Only Starting To Take Shape..."
Posted by freedomforall 3 years, 11 months ago to Economics
"I think the best way to look at it is to see that $6 trillion of new debt in two years is equivalent to what it took 213 years and 43 presidents to produce—that’s how long it took to get to the first $6 trillion of public debt.
That’s how bad this has gotten, and it will destroy any remaining semblance of market capitalism we have in this country.
When you have a coast-to-coast soup line, with the government underwriting 100% of what everybody was getting in January 2020 by merely piling it onto the public debt, and then having the Fed printing money to fund it, you’re asking for a calamity—a financial and economic disaster of biblical proportions."
That’s how bad this has gotten, and it will destroy any remaining semblance of market capitalism we have in this country.
When you have a coast-to-coast soup line, with the government underwriting 100% of what everybody was getting in January 2020 by merely piling it onto the public debt, and then having the Fed printing money to fund it, you’re asking for a calamity—a financial and economic disaster of biblical proportions."
Especially when you can use it to create another one...
And another one...
Woo, so pretty! So aesthetically pleasing to the eye!
https://www.usdebtclock.org/
Reminds me of Christmas! Let's sing!
Jingle bells! Jingle bells! Jingle all the way!
Me dino's out cruisin' in grandma's Chevrolet! Yay!
Joseph told him he would get seven good years in which to store grain then seven bad years with low grain production.
Nations round the globe are spending money they do not have. From savings? No.
Exception, Singapore, they are spending big money, it is the fashion and hard to resist, but they have big reserves to call on. There are not many in that group.
I understand that massive debt is ok, you have simply lent it to yourself (it is said). So, governments can spend without limit, taxation not required. I will with-hold judgement on this one.
I live in Nevada, but in the far northeast corner of the State hours away from any major cities and with very little but good clean open desert in between. Elko County is the 4th largest county in the US by area and with very people. Traditional mining and ranching country. But we are subject to the horrible demographics of Las Vegas and the Reno-Carson City area. And because of that Nevada got horrendously blue waved in 2018 with some of the worst actors in the executive and legislative branches. Governor Sisolak (D) dutifully obeyed the stand down at least until May 1st. Now he is floating balloons such as extending it through June.
Go for it you maniac! There have already been demonstrations against lock down in Carson City, Las Vegas, and here in Elko. I talk with some in Vegas. It is insane. 90 degree weather is already hitting the lower deserts. But picture no lit up strip in downtown Vegas. Vegas was the town that never sleeps, never closes down. The sound of all those one arm bandits for us in Nevada was the sound of no need for State income taxes. Ah, but guess what? Sisolak and the Dems want to impose an income tax. So far, they are still calling mining an essential industry. Nevada is the 5th largest gold producer in the world as a political entity. A max 5% royalty on net proceeds on mining was written into the Nevada constitution upon Statehood in 1864. Guess who wants to change that? The looters.
I am sure the greenies love all this. Kill the fracking and energy industry, kill the airlines - no more contrails, right? Push universal healthcare in the face of an engineered panicdemic. UBI has a jumpstart with the "Paycheck Protection Program". Vegas has many greenies. Just imagine how they'll love it when the water stops flowing and the air conditioners quit when it is 110 degrees in June?
Good Luck, Gov Sisolak.
My Dad lived in San Diego and chuckled at the people who despised the "Zonies" and their yearly migration to San Diego...
Not sure about the Nevadans who you witnessed...Oh, well...just my 2 pennies...later
The question I have is what would prevent this scheme from being successful in the future. Why would it break now or in 6 months, when so far it hasn't?