With Democratic control of House, the party that still worships at the grave of Karl Marx and FDR, will gain majorities on committees that can propose legislation and hold hearings. Beside drooling over the thought of impeaching Trump a third time just for shits and giggles, the more serious is their is their passion to taget the rich. They are contemplating a National Billionaire’s Tax and Elizabeth Warren want’s her Wealth Tax on simply ownership disregarding income altogether. These two issue will surface eventually but the thirst for the bright lights and the praise of the hopeless mainstream media will target artificial intelligence and how some of these 20-somethings run around and says AI will kill all humanity as if this is Terminator-7.
I have consistently argued that sovereign debt is a Ponzi scheme that functions perfectly well until the buyer of last resort disappears – that’s you. The United States carries roughly $40 trillion in debt, but the global sovereign debt complex is closer to $400 trillion. The arithmetic is alarming, but arithmetic alone has never toppled a bond market. What topples it is the realization that the debt cannot be rolled over at a price anyone will accept.
I am NOT the only one to have found that it was President Johnson’s Great Society that was the primacy force that broke the back of Bretton Woods. I knew John Exter, a board member of the Fed, who was the first to see the handwriting on the wall. Hohn in 1968 warned that the Gold Standard would collapse. They ignore John as well, but that came in 1971.
Economic historians and official histories consistently identify the combination of Vietnam spending and Great Society programs as the root cause of the inflation that destroyed the dollar-gold convertibility by 1971. The Federal Reserve History notes that U.S. inflation rose from less than 2% in early 1965 to 6% by the end of 1969, making fixed exchange rates unsustainable. The French economic education site Citéco lists both “expensive wars, particularly in Vietnam” and “Johnson’s Great Society Programs” as the factors that increased U.S. budget deficits and undermined the system. Just like Europe, politicians are NEVER wrong – only the people. They will NOT alter their philosophy despite that this collapsed both Russia and China. They simply refuse to accept their philosophy is just wrong.
Our computer has shown that the economy will now enter a recession into 2028. The Democrats only need to talk about wealth taxes, rising social security with Elizabeth warn saying the rich don’t pay their fair shar proving it’s just a tax and not some security fund for your future, and then the Billionaire Tax they want to impose nationally after lying to their billionaire backers in a bait & switch game.
The fools who actually think that voting for the Democrats will solve all the problems is hilarious. They blame trump for 80 years of fiscal mismanagement. Their solution, as always, will be to punish the productive class. The computer shows that nether party is ever willing to reform because they look to elections every 2 years, not the long-term. The problem is that long-term is becoming closer every year. We can see that the computer has targeted 2032 the same as the ECM, which is not included in this Array. The Democrats have to win to show the average person that neither side matters because nobody cares about the long-term – just the next election. The light at the end of the tunnel is approaching when we get to correct the flaws of this system. No war without a public referendum. Term limits – 1 time in and out to end the perpetual lobbying, and no cushy private sector job to influence your buddies on the Hill. The day is coming – we get to fix the future and leave behind a worthwhile system.