David Stockman on The Battle of The Liars… Trump Versus Harris and The Folly of UniParty Economics
by David Stockman
<< EDITOR ADDED DATE 2024-10-18>>
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The Dem candidate brags about 16 million new jobs on the Harris-Biden watch and Trump claims the Greatest Economy Ever—evidenced in part by low inflation that his successor purportedly blew sky high.
Both are lying. Both ignore crucial matters of context—such as stage of the business cycle, Fed policy actions, forces arising from the $105 trillion global economy in which US growth, jobs and inflation are inextricably rooted and the fact of lag times in transmission of Washington policy into economic outcomes.
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In any event, the real culprits are the spenders and money-printers. And not surprisingly, both candidates want more of both.
Editor’s Note: The amount of money the US government spends on foreign aid, wars, the so-called intelligence community, and other aspects of foreign policy is enormous and ever-growing.
It’s an established trend in motion that is accelerating, and now approaching a breaking point. It could cause the most significant disaster since the 1930s.
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I keep banging the drum on “debt, unfunded liabilities, and Gooferment deficit spending at all levels”.
The UniParty makes picking the “lesser of two evils” a frustratingly failed strategy.
As Tom Woods says “No matter who I vote for I get John McCain”. Sadly true.
All “We, The Sheeple” can do is prepare for the eventual collapse of the dollar when the debt becomes unrepeatable. Till then remember the old military directive “get small in your hole”.
As when I was counseling FOWG “turkeys” — Success for your generation is: (1) ruthless financial discipline — no bad debt; (2) a life long interest in learning — education — a degree — they can’t take it away from you; (3) a NON-OFFSHORABLE white collar job in order to save big bux; (4) a blue collar skill for hard times — never saw a poor plumber; (5) one or more internet based businesses — your store is always open; (6) a free time hobby that generates income; and (7) a large will-maintained network of people who can “help” you.
That’s the same advice for dealing with the UniParty’s economic disaster.
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