In short, the U.S. economy may never reach “escape velocity” unless it is first allowed to crash. It has been too larded up and larded over with debt for any real sustainable growth to take root. More evidence, to this effect, was revealed this week.
Free entry and competition in the production of goods is good, but free competition in the production of bads is not. Free entry into the business of torturing and killing innocents, or free competition in counterfeiting or swindling, for instance, is not good; it is worse than bad. So what sort of "business" is government?
...it’s pretty obvious where things are headed. This isn’t a political problem. It’s an arithmetic problem. And the math doesn’t add up. The alternative is to assume that the Fed possesses some magical fairy dust to fix everything without any consequences... or that there will never be a recession ever again until the end of time.
The United States government closed out the 2016 fiscal year that ended a few days ago on Friday September 30th with a debt level of $19,573,444,713,936.79. That’s an increase of $1,422,827,047,452.46 over last year’s fiscal year close.
Regardless of whether you’re a millionaire with multiple foreign bank accounts or a recent college graduate with a boatload of debt, the status of being a United States citizen brings with it a burden that will only grow heavier over time.
Trickle-down Trump’s largesse to the rich along with his mirage of spending cuts paint a gold-plated trump o'well finish on America’s decline: No plan to reform or replace the Fed. No breaking up banks too big to fail. Puts Goldman-Sachs in charge of the Treasury. The establishment has already given Trump a comb-over they can live with.
[The establishment] needs no reminder of the historical record, but it bears noting that more than a dozen advanced economies received debt relief in one form or another during the depression of the 1930s. The approach to unwinding current debts is likely to vary considerably across countries, but it is time to place greater emphasis on debt restructuring (which comes with a menu of options) than on accumulating more debt.
"Fuck all these skewed polls. The debate didn't matter, and it didn't change anyone's mind..Trump should have been hammering the Clintons (that's right, Hillary and Bill) on putting Wall Street in change of America's economy, but he spent far too much time defending himself...Trump needs to paint the Clintons as the tag team that gave the country away to the banksters, and forced 76% of Americans into living a paycheck to paycheck lives..."
"These linear thinkers can’t understand why their playbook of lies, misinformation, pointless social justice issues and a myriad of other inane distractions aren’t working this time. They fail to acknowledge that history is cyclical and we’ve entered the phase when generational cohorts are aligned for dramatic sweeping change. The data is there for all to see, but those benefiting from the current perverted paradigm will not be swept aside without a bloody fight."
Are you ready for the most anticipated presidential debate in decades? There will likely be quite a few questions about the economy, and without a doubt this is an area where Trump and Clinton have some very sharp differences. The mainstream media would have us believe that the U.S. economy is in pretty good shape, and if that was true that would seem to favor Clinton. But is it actually true?
Trump is Obama’s nemesis, Hillary’s worst nightmare, and a vampire’s mirror of the Republican establishment. Before November’s election, his next outburst or reinvention will once again sorely embarrass his supporters, but perhaps not to the degree that Clinton’s erudite callousness should repel her own. It may be discomforting for some conservatives to vote for the Republican party’s duly nominated candidate, but as this Manichean two-person race ends, it is now becoming suicidal not to.
The President of "the most transparent administration ever" is shocked at how close the election has become. Having seemed to be try to shame the black community into voting for Hillary (calling it a "personal insult"), CNN reports that President Obama has found another scapegoat - blaming "misinformation" from right-wing websites for the "nail-biter."