Saturday, September 14, 2019

End the Fed.

“The Fed” being the Federal Reserve Bank that has gifted us with something like a 97% loss of purchasing power of the dollar since 1913. That’s a "nine" followed by a "seven." That’s just accepted as normal by the class of scumbags running our country.
But you must take down this institution.

The Fed is the number one, the number two, and the number three enemy of prosperity, capitalism, free markets, individual liberty, and the wealth of people in the world today.

Central banks have to be totally discredited and taken down.[1]

Recessions don’t happen because the Fed is tightening credit costs for Main Street. That’s the old days. That’s your grandfather’s economy and your grandfather’s Fed. But we’re now in the era of bubble finance. The Fed basically inflates the financial system until it collapses, and then it spills over into the mainstream economy through corporate C-suite panics.[2]
And a big, official "ho hum" to that, good buddy.

But wait!! There’s more than monetary insanity!! There’s fiscal insanity!!

The short answer is that, objectively, we are already fiscally bankrupt. And by that, I mean the $22 trillion of debt we have today, that’s the rear-view mirror.

That’s what the first 44 presidents in American history have managed to accomplish—including the last two before Trump, who took it from about $4 trillion to $19 trillion.

But Donald Trump is the most reckless, irresponsible president we’ve had since Lyndon Johnson, in terms of fiscal policy.

This guns-and-butter deal for two years that he just signed with the Democrats and the Congress was an abomination. It added $1.7 trillion more to the debt over the next 10 years. It eliminated entirely these spending or sequester caps that we’ve had since 2011.[3]

This too is considered no big deal. Enormous debt is just as normal and unexceptional as moaning about manspreading and white patriarchy [AKA white perfidy] and swooning over the joys of mass immigration, diversity, abortion, and FGM.

The notions of wise stewardship and salus populi are absurd in the rotten America of our time.

[1]  David Stockman quoted in "'We're In A Demographic & Fiscal Dead-End' - Stockman On The Coming Financial Panic & The 2020 Election." By Doug Casey, ZeroHedge, 9/13/19 (emphasis removed).
[2] Id. (Emphasis added.)
[3] Id.

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