tag:blogger.com,1999:blog-6034478.post5473983435002526424..comments2024-03-29T07:40:28.878-04:00Comments on Doug Ross @ Journal: Legacy of DelusionUnknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6034478.post-11112647466589338842017-01-14T13:34:27.955-05:002017-01-14T13:34:27.955-05:00Eight years of soap opera, "like sand through...Eight years of soap opera, "like sand through an hourglass." Real Houswives got nothing on the Obama show; we've had trannies, wars, idiots playing with deadly drones, lies & counterlies, and lots of racist bullcrap; the death toll is astronomical, and it hasn't been fun.<br /><br />Now the ratings have come in: uh oh, nobody likes this crappy show, and the cable bill has gone through the roof! Time to cut back drastically!<br /><br />TheBuckWheat (above) has it right. There's gonna be a lot of squealin' coming up real soon now. Since I'm already broke and have nothing much left to lose, I'm kicking back in the La-Z-Boy with a big bag of popcorn and a drink! I'll be cheering whenever I hear or see some worthless no-account freeloader getting kicked out of the country, and even more so when useless govt. agencies are shut down!Eskymanhttps://www.blogger.com/profile/15947922645001422523noreply@blogger.comtag:blogger.com,1999:blog-6034478.post-80408699848038498552017-01-14T12:05:27.241-05:002017-01-14T12:05:27.241-05:00While we may be able to walk away from the Obama e...While we may be able to walk away from the Obama era as if it never happened, our economy now has an additional $9 trillion dollars is debt. People schooled in Keynesian economics, like NYT's Paul Krugman, think this is just fine because after all we can just create it out of thin air, but every dollar of the debt carries an interest charge that we must pay. If we created the debt without ever really intending on paying it back, then that interest compounds to an infinite amount every year forever.<br /><br />This is why the federal government is horribly conflicted about allowing interest rates to return to normal levels set by a free market. Any new dollar in tax revenue is already committed to be spent on the interest of the federal debt. <br /><br />The point of no return in credit card debt is where the interest charge on the rolling balance equals a person's monthly income. Above that amount it literally becomes impossible to pay off the debt and to escape economic collapse. We are exactly at that point in the US federal debt. <br /><br />Moreover the people who are so quick to spend money for social programs are also the ones who love to scold the rest of us about "sustainability". Yet, the incredible interest charges on the incredible mountain of debt is non economically and fiscally sustainable. A nation cannot commit bankruptcy. The only way out is to just print more money and that guarantees that inflation will eventually destroy the value of the dollar. <br /><br />IT. IS. BAKED. INTO. THE. CAKE.<br /><br />President rump is familiar with bankruptcy and "workouts" which are where a business restructures its debt and operations to become solvent again. He has some ways to do this: <br /><br />For starters, he can go through the federal budget line by line and cut every entry that funds the left. That would be a great two-fer for the country. That would be billions. He can also negotiate a tax rate on the trillions of dollars in offshore corporate money so that when it comes home it is used to maximum benefit, both to create jobs and to improve the federal debt situation. Third, he can propose to not spend any more than the government takes in taxes. Fourth, he can propose that where GAAP accounting is good enough for business it is good enough for government. That will be a shock to the system as the fiscal truth becomes known. <br /><br />We can count on the (D) to squeal like stuck pigs. We can also count on finding out who in the (R) party is a RINO when he does this. But the alternative is certain DOOM.<br /><br />-- theBuckWheat<br /><br /><br /> <br /><br /><br /><br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6034478.post-49061441787101659512017-01-14T06:54:38.971-05:002017-01-14T06:54:38.971-05:00We are the people we have been waiting for!We are the people we have been waiting for!Anonymousnoreply@blogger.com