The United States federal government ran up a $1.6 trillion deficit in just the first half of this year, as compared to a $1.7 trillion deficit for all of the previous year. Since all borrowing, no matter whether it is productive or not, gets lumped into GDP, it’s no wonder that the most recent GDP stats surprised to the upside.
From Treasury: borrowed $1 trillion last quarter, expects another $776 billion this quarter (would be miraculous since it borrowed $500 billion this month alone), then $816 billion in Q1 '24, so on track to borrow $3+ trillion this FY, as projected…
Interest going to the moon: pic.twitter.com/4TX3yBnWO7— E.J. Antoni, Ph.D. (@RealEJAntoni) October 30, 2023
The dollar is about to crash. I wonder what is going on in Canada.
As Stephan Harper used to quote, “when the US sneezes, Canada gets a cold”.
Yeah but you gotta watch friends.
“This time is different” ….
https://www.amazon.com/gp/product/0691152640/ref=ox_sc_act_title_2?smid=ATVPDKIKX0DER&psc=1
Who is going to sit Joe Biden down to explain this?
Also, remember some months past in the aftermath of the crypto scandal how so many said that crypto was a scam? maybe a pyramid operation?
In the coming year of 2025, some other people have said Bitcoin will hit $1million
I’m saying “at least $1million”. By next summer, others will say, “only 1 million?”
A trillion here, a trillion there, pretty soon you’re talking real money!
Numbers and more…
https://www.usdebtclock.org/index.html
Wait until derivatives have to be addressed. There is more debt there than wealth on the planet.
And yet no inflation…
Inflation is caused by greedy merchants taking advantage of poor people. That’s what my Marxist Econ professor at UC Berkeley taught me. Well … it looks like we’ll ALL be Marxist/Communists now …
That’s exactly what our communist PM Turdeau has been accusing our merchants of doing. Thanks, Kenji.
OMG… You went to B-zerkly! 0-:
Yep … it was quite entertaining
No inflation where? It is through the roof where I live.
Inflation is caused by printing money. The government is printing money through the roof. Inflation is through the roof everywhere.
I have been aware of that problem for at least 70 years. I wonder why more people do not see it.
Biden and the Democrats said not only would they not increase the debt, they’d reduce it.
They appear to be living in their own reality distortion field.
But hey, Kamala says at least Biden is alive.
An insightful prognosis:
“The Debt Can’t be Repaid – So What will Happen Instead?”
https://www.youtube.com/watch?v=qn9YkwX0Hew&ab_channel=HeresyFinancial
BTW … selections have consequences. Election Fraud begets the destruction of America … oh well … it was the good life for a while …
Growing the economy without growing the economy is hard work…and requires a lot of vacations at the beach.
https://www.msn.com/en-us/news/politics/biden-sets-all-time-presidential-record/ar-AA1eVvh6
He’s NOT the Chief Executive … some Obama cabal is … so he’s not really needed, except to read a teleprompter every once in a while
Gradually ,Then all at once.
How does spending of this nature not amount to treason?
Deliberate destruction of a nation,by a cliche of Fools,Haters and Thieves.
Because Mitch McConnell … and every GOPe who have been trying to DESTROY Trump … voted for it. They’re all partners in Biden’s crimes.
So now is the time to visit Detroit while the city is still safe?
When the welfare state collapses, I’m sure the inner city denizens will calmly take it with a stiff upper lip. I can’t tell you how many looting videos I’ve seen with inner city folks leaving stores with arms full of educational supplies, textbooks, and employment tools.
Remember to tell your children to vote only for the guy that’s says he’s not paying. You didn’t borrow it and you don’t have to pay it. The US military has been enforcing debts for nearly a century. When their own military (the people of America) tells the banksters to piss up a rope: what then b!tch3s?
The US debt is now getting costly to service as interest rates rise and debt has to be refinanced as Treasury notes and bonds mature. Who will buy the bonds? The US Federal Reserve will once again monetize debt and deficit by vast money creation and buying trillions of dollars worth of Treasury bills, notes and bonds. This will likely be the biggest dose of ‘Quantitative Easing’ (QE) ever. How much more of this can go on before the system collapses is the big unknown.
The deceptively-named and privately owned “legal” counterfeiters (Bank of Canada, Bank of England, Federal Reserve) are effectively stealing from citizens every time they increase the money supply. There is a one-to-one relationship between printing money and inflation.
For those who have trouble understanding what central banks actually do, imagine playing Monopoly. Now imagine one of the players bringing piles of their own Monopoly money to the game, and pulling as much out as he wants, whenever he wants.
The POSs behind these organizations purposely cause inflation to impoverish you, and then they and their friends buy whatever they want with paper, or its modern currency equivalent.
Speaking of corrupt entities that act like government entities, but when it suits them act as a corporation, whatever happened to the CSA court updates?