The debt bomb

“Over the last half century, the sinister trends – more debt, more wars, more centralized power – continued, through both Republican and Democratic administrations. Sometimes slower, sometimes faster… but nobody from either party put on the brakes, or much less turned around.
Not once was the federal budget genuinely balanced. The insiders gathered up more clout and cash. The elite became bolder, richer, and sassier… and the average citizen became weaker, more cowed, and more dependent.
‘We are born free, and we will stay free,’ said Mr. Trump in his SOTUS. But that is a busted dream too.
Americans are now among the most heavily policed people in the advanced world. There were three federal crimes in 1789; there are more than 4,000 today.
With so many laws, it is no wonder that so many break them. The U.S. has the largest prison population in the world – with 10 million picked up by its gendarmes annually and more than 2.2 million in its gulags (5 times as many as in 1970) – half of them for a made-up crime, involving marijuana.
Its government agents – using ‘civil forfeiture’ rules – steal more wealth than common thieves.
Its armed troops garrison close to 800 foreign outposts and, in the last half century, are responsible for more deaths than Russia, Iran, North Korea… and the whole ‘Axis of Evil’ put together. Barack Obama, like Stalin, personally approved each day’s assassination list.
And rather than rise up against their whip-masters, Americans say ‘thank you’ to the TSA for rifling through their underwear!
That is the real state of the Union and perhaps the biggest busted dream of all: The American Dream has become an aging, heavily indebted empire struggling to hold onto its place in the world, led by a corrupt elite whose only real goal is to keep the juice flowing – to themselves.
And like every degenerate empire before it, this one is doomed to a financial collapse.
The dream was that smart people with Ph.D.’s in finance and economics could do a better job of guiding the economy than market forces.
Led by Milton Friedman, in 1971, they changed the money itself – removing the constraint of gold so they could manipulate the currency more directly.
Then, they began using ‘counter-cyclical monetary policy’ to offset the market’s moods. It was William McChesney Martin, the longest-serving Fed Chair in history, that said it was his job to ‘take away the punchbowl just as the party gets going.’ In other words, tighten up the money before things got out of hand.
All too human, the nation’s money custodians proved to be very good at bringing out the punchbowl; they were very bad at taking it away.
Then, in 1987, Alan Greenspan, then Fed chief, went further. He let it be known that he’d come in with as much alcohol as necessary to keep the party going. The excitement increased… louder and louder… wilder and wilder… until 1999, when someone must have called the cops.
But the crash of the dot-coms put only a temporary damper on the fun. In came the feds with more cases of Jack Daniels… and it was ‘Party On!’… until 2007.
This time, the problem was serious. Homeowners couldn’t keep up with their mortgage payments. And this time, the feds came not just with more liquor… but hard drugs, too.
Quantitative easing, QE, they called it. Thus, did they not just make EZ credit EZ-er, but added some $3.6 trillion in new money, too. It was an emergency, they said, promising to ‘normalize’ later.
And of course, now it is 10 years later.
And now, the Fed says it won’t be normalizing any time soon. This is the new dream that is coming into focus… that deficits don’t matter… that debt can increase indefinitely… and that the feds can simply add money whenever the going gets rough.
Republicans and Democrats will both go along with it. ‘Us’ and ‘Them’ will come together to protect the flimflam they both benefit from.
Borrow! Spend! Print! Do ‘whatever it takes.’ Damn the deficits!”
— Bill Bonner, writer/thinker extraordinaire
Hat tip to David Cheney and Ted Alexander
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Devastating details against Democrats

The case for Russia collusion … against the Democrats

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Muslim refugees?

The 35 year-old UN muslim refugee resettlement program underway throughout America paid for by U.S. taxpayers.

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The WALL and the existential problem

The Wall and the existential problem: Lord Heseltine, former deputy PM of the UK who was sacked by the PM, promotes a wall around the whole of the EU to control immigration/refugees from outside the EU. Unlike EU bureaucrats, Merkel, Macron et al, Lord Heseltine realizes the immigration/refugee crisis is an existential crisis for the European Community. (About the 8 minute 40 second mark in the full length 39 minute video of this interview at the link here.) Unfortunately, Heseltine, a conservative, still supports the EU and is a “remainer” even though the EU as it has evolved is far from the democratic institution he wants. The idea of a united Europe with no internal borders is perfectly fine. It is the execution of the EU idea that fell apart. It became a domineering bureaucracy. Based on the statements of Merkel and Macron, it appears their intentions are to eliminate national sovereignty and move away from capitalism toward more socialism and bury European culture with refugees.

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Shrug off the green slime

Did you see the 3 part movie Atlas Shrugged or read Atlas Shrugged by Ayn Rand? The U.S. Democrat crazy ‘green’ slime plan to get rid of cars and airplanes is exactly what happens in these movies and book. I believe the 3 parts of Atlas Shrugged are available now for free on Amazon Prime. Watch the movies if you have not seen them. PG13. In this case, the message IS the message, not the actors, directors, theatrics, and special effects although there is some of that too. Considering hard left Hollywood, these actors and all involved are very brave and risking their careers and livelihood. Atlas Shrugged has always been collectively, politically incorrect.

Atlas Shrugged

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The “Green New Deal”

Dr. Judith Curry, climate scientist, formerly at Georgia Tech:
“Some reactions from Wednesday’s Congressional testimony.
My take: The Green New Deal is a leftist politician’s worst enemy”
“The beginning:
The wacky Green New Deal has two features which, taken together, will make it a nightmare for Democrats in the upcoming national elections. First, it is a wonderful wish list of goals the Democrats hold dear. But second, the actions it calls for are impossible. In particular, they would be impossibly expensive, even for tax-and-spend Democrats. The Green New Deal is simply preposterous.
This unholy combination sets up a dilemma for every Democrat candidate, for the Presidency, House or Senate. It may even spill over into Governor and other state races. The problem is that every Democrat candidate will have to declare whether or not they endorse the Green New Deal.
If they do not endorse it, then they will be asked what they have against it? Are they against renewable energy, ending pollution, clean water, good jobs, equity, etc? The Green New Deal is the darling of the radical wing of the Party, which has found a new, loud voice. Anyone who dares to object to it will be criticized severely.
If they do endorse it, then they will be required to defend the indefensible. In particular, how do they intend to pay for it? So far that question has been ducked, but that duck can’t fly forever. The cost is stupendous. Actually it is incalculable because the Green New Deal is physically impossible, but stupendous will do. Their Republican opponents will press this one home.
The mainstream Democrats are now caught between the rock of the radical left and the Republican hard place.
There is more in the article.”
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No on climate change

Professor Jordan Peterson on climate change and climate policy at the Cambridge Union

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Brexit, Frexit

My comments to Lord Haseltine’s interview on Brexit in a video posted on Linked-In

Lord Heseltine video

I could not disagree more with Lord Heseltine. Those 70% of young people would do better to heed the wisdom of the 70% of old people.  The EU is dragging its nations and people backwards to tyranny, loss of sovereignty and loss of individual freedoms gained in long and deadly struggles since the Magna Carta.  Merkel and Macron openly tell you that must give up your sovereignty.  Staying in the EU means you will lose your culture, your society, your history and lose control of your daily life.  And for what?  Much better to heed the wisdom of Vaclav Klaus.

No, Mark Holmes, I do not agree that my point is too blunt.  Europe’s long history of wars was not due to the regular people of one nation wanting to fight the regular people of another nation.  These were elites and royalty fighting elites and royalty, but under Europe’s feudal structure the elites/royalty commanded their people to fight for their elite/royal cause.  These wars were disputes among elite royals.  Regular people were canon fodder.  (That includes WWII.  There is nothing more elitist than the belief in the superiority of a pure Arian race/bloodline.)  The EU structure with its unelected bureaucrats, complex bureaucracy, taxing without functional representation – the representatives are there to talk but not affect changes – is a useless waste.  Multi-lateral or bi-lateral trade agreements and treaties can accomplish the same goals without the giant bureaucracy and without the taxes.  The EU is setting up a new empire complete with uberwealthy supranational elites, which is not different from royal families and their courtesans.  For example, the people in the UK voted to leave the EU and that democratic decision has been rejected by whom?  By the new elites in Brussels and by the old elites in the UK…the Lords.

Good plan?  Set up a government that is so expensive that both parents must work.  That is what 50% taxes means.  Then the couple has fewer kids on average.  So then gov’t decides it must import people to work to keep the economy going. So gov’t opens borders and demands tolerance of incompatible cultures and people.  Freedom of speech is taken away.  There is no way to screen these incoming people since the systems for that do not exist in their former country.  Many of the newcomers do not work, live on welfare, adding strain and more cost on the gov’t, and they have habits which add further strain and cost.  So, elites invent problems that do not exist to justify more taxes.  Your culture and values become diluted beyond recognition.  Your elite leaders say you have no unique culture.  But the lords and elites do not worry about such things for themselves.  They live behind walls, live on investments, and have bodyguards.  They live in a class-based society, as they always have, and your rules do not apply to them.  When people protest, they will take you to war.  And so they build military.   Dr. Vaclav Klaus has a few words to add. 


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“The only economic model in the last 150 years that has ever worked at all is capitalism. The evidence is prima facie: From a feudal order that lasted a thousand years, produced zero growth and kept workdays long and lifespans short, the countries that have embraced free-market capitalism have enjoyed a system in which output has increased 70-fold, work days have been halved and lifespans doubled.” ~ Investors Business Daily.

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“Our approach is based on principled realism — not discredited theories that have failed for decades.” ~ President Donald Trump

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