Summary: The media overflow with hysterical predictions about the next four years, but few well-grounded visions. Here is a brief look at some of what we can expect, and why, and what these events reveal about ourselves. What makes America great? Great for whom? Investors have pushed US stock to near-record valuations (record valuations on … Continue reading What to expect from the Trump years, and why.
Summary: Now that the Anything But Issues election is over, the media realize that there are issues other than racism and sexism -- and debates other than those over the ephemera that dominated the election. Alexander Bolton of The Hill kicks off serious coverage of the Trump administration with "Deficits could stand in the way … Continue reading The annual Budget Games begin: Trump vs. Congress to control spending
Summary: Each presidential campaign season the federal debt becomes an issue, with the debate consisting largely of bogus soundbites. Each election sees that the federal debt has not only grown, but has grown faster than the US economy -- with little to show for it (e.g., our public infrastructure rots). This will not end well … Continue reading Harsh truths about the Federal debt, showing how Left & Right lie to us
Summary: The debt supercycle is a global phenomenon, with Italy one of the most afflicted nations. High levels of debt plus slow growth makes a toxic combination. Here Stratfor examines the numbers and their implications. “If something cannot go on forever, it will stop.” — Herbert Stein’s Law (US economist, 1916-1999). Italy's Shaky Financial Future … Continue reading Stratfor: Italy’s Shaky Financial Future
Summary: Here we have a wonderful example of the cacophony that takes the place of political debate in the New America, in this case about Social Security. It's one of the simpler issues facing us: a moderately predictable and fully controllable stream of benefits vs. government revenue -- mostly income taxes; some graduated ("income taxes") … Continue reading Cacophony about Social Security shows our real political dysfunctionality
Summary: Today we have one example from the flow of comforting words about the government's deficits. While pleasant reading, written by a knowledgeable expert, it does not withstand close scrutiny. One of the great oddities of history is why nations adopt policies that were so obviously doomed to failure, or even disaster. It's a long … Continue reading Another way to look at the national debt. More comforting, less scary.
Summary: Part of our year-end national festivities should be looking at the deterioration of the Federal government's finances. Especially since the resolution of the fiscal cliff follies shows that neither party in fact cares. There are few deficit fighters, mostly arsonists. As for spending our money, it's burnt for political profit and private gain. Here … Continue reading Let’s watch a great nation’s wealth burn away