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Victor Davis Hanson: 10 Steps To Save America

Victor Davis Hanson: 10 Steps To Save America

Authored by Victor Davis Hanson via AmGreatness.com,

Yes, there is a way. But is there the…

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Victor Davis Hanson: 10 Steps To Save America

Authored by Victor Davis Hanson via AmGreatness.com,

Yes, there is a way. But is there the will?

Most Americans know something has gone terribly wrong—and very abruptly—with the United States. They are certain that our wounds are almost all self-inflicted. The current pathologies are not a result of a natural disaster, an exhaustion of natural resources, plagues, or an existential war. 

Crushing national debt and annual deficits, spiraling food and fuel costs amid “normal” seven-percent-plus annual inflation, bread-and-circuses entitlements, a nonexistent border, a resurgence of racial tribalism, pandemic violent criminality, and humiliation abroad—all these pathologies are easily cited as symptoms of a sick patient. Our crises are not as the Left maintains—a nine-person Supreme Court, the Electoral College, or the filibuster—all distractions from existential problems the Left largely created. 

So, what are the therapies and prognoses for America?

In the spirit of constructive rather than blanket criticism, here is a partial, 10-point plan of national recovery.

1. Cut the Debt 

Americans’ national debt is now $31 trillion. That is about 123 percent of current GDP. The liabilities are unsustainable. We run annual deficits of $1.6 trillion. These financial obligations will eventually ensure that rising interest rates to service the debt crowd out essential spending for national defense and the general welfare. 

Or in extremis, in the not too distant future, the government will be forced to default on what it owes the “rich” bondholders and foreign debt holders. Or the government will be forced to confiscate private wealth, as for example occasional crazy suggestions to nationalize and absorb 401(k)k retirement plans into the soon-to-be-insolvent Social Security system. Or the state will simply print millions of dollars to pay off obligations, Weimar-style.

In addict style, the more we come to realize that our binging habit cannot go on, the less we can practice self-restraint. And the more it is the case that those who receive government redistributions outnumber those who pay the majority of federal income taxes, the less hope there remains to avoid insolvency.

In 2010 then-President Barack Obama appointed a bipartisan “National Commission on Fiscal Responsibility and Reform.” More commonly  remembered as the Simpson-Bowles commission, after chairmen Senators Alan Simpson (R-Wyo.) and Erskine Bowles (D-N.C.), it included private citizens and elected officials. 

The commission recommended radical tax simplifications and some cuts—along with reductions in tax deductions and credits, an increase in the gas tax, restraints on entitlement spending, and various spending caps. 

Obama and Congress ultimately rejected the recommendations and the commission’s blueprint died. But had it succeeded, the current debt would have long been frozen at the 2014 level of $17 trillion—with annual reductions ensuring that this coming year 2023 the debt would have plunged to $10 trillion and then disappeared in another decade. 

Something like Simpson-Bowles could still stop the madness and avoid the natural corrective on the horizon of financial collapse. Note that federal tax revenue has increased almost every year since 2010. Sometimes it grows by nearly a half-trillion dollars per annum, even as we sink deeper in debt. Our crisis, then, is one of spending what we do not have rather than one of declining revenue.

2. Secure the Border 

We no longer have a southern border. There have been 5 million illegal border crossings just since Joe Biden took office. He intentionally destroyed immigration law for cheap political advantage. Nearly 50 million current American residents were not born in the United States. Well over 20 million—and perhaps 30 million—are illegal aliens. Old melting-pot efforts at assimilation and integration eroded into the salad-bowl metaphor that has just become tribalism—even as intermarriage is at an all-time high. 

The Left brags that “demography is destiny” as it cheers the changes in the electorate aimed at ensuring its political dominance. And simultaneously, it smears conservatives who agree with its triumphalism as “great replacement theory” conspiracists. 

Yet we finally found a solution in 2019-2020. Had we continued replacing rickety border fencing with an effective wall and then completed it along the entire border, had we stopped catch-and-release, had we continued demanding that refugee status be obtained before entry, had we forced Mexico and Central American governments to stop exporting human capital and subjected them to taxes on more than $60 billion in annual remittances (along with trade penalties) for their complicity with the situation at the border, had we continued to deport those who entered illegally, had we returned to assimilation and integration on the theory any who entered America did so because they wanted to become Americans, then a desired legal, meritocratic, and diverse immigration policy might easily have assimilated and absorbed perhaps 200,000 skilled and legal immigrants per year. 

Again, we had the outlines of a solution and then simply destroyed it for liberal political agendas and cheap corporate labor. 

3. Tap Natural Resources 

Similarly, by 2020, the United States enjoyed inexpensive fuel. It was all but independent in gas and oil. It had become the world largest combined gas and oil producer. That status radically curtailed the need for optional military engagements in the Middle East. It gave America enormous clout against hostile oil exporters like Russia, Iran, and Venezuela. And such independence helped reduce vast trade deficits. 

Again, the Biden Administration simply exploded the idea of fossil-fuel independence as a gradual transition to sustainable energy. So simply doing the opposite of its policies would correct the pathology almost immediately: Issue more federal gas and oil leases, approve the Keystone and Constitution pipelines, reopen the Arctic National Wildlife Reserve, and build nuclear power plants. The present course of high-priced and scarce gasoline and oil is eroding the middle class, spiking inflation, widening class divisions, and reducing American autonomy abroad. 

4. Oppose Discrimination

Never has the United States seen more evidence of progress in racial relations, and never has such progress given way to more tribalism. If we do not return to a Martin Luther King, Jr. “content of our character” policy—one that views race as incidental rather than essential to who we are—then our future is a sectarian one with echoes of the former Yugoslavia, Rwanda, and Iraq. 

Affirmative action was never envisioned as permanent quotas and race-based reverse-discrimination. Yet after over a half-century it has ballooned under the idea of “diversity” to invent a victim class of nearly a third of the nation, absurdly and loosely defined—in an age of commonplace intermarriage—as “non-white.” 

Help for the underprivileged should be race-neutral and entirely based on class and income, given numerous ethnicities exceed the so-called white medium income. The labyrinth of racial categories grows unfathomable. The identity politics mess logically results, on the one hand, with rank iconic frauds like Elizabeth Warren, Ward Churchill, and Rachel Dolezal, and, the other hand, with well-off poseur victims in the manner of a Meghan Markle, Colin Kaepernick, or Jussie Smollett. 

Substitution of racial criteria for merit, rather than aiding the poor of all races, is creating a commissar-like drag on the economy, spiking racial and ethnic tensions, and ensuring that every group will eventually, for its survival, go tribal on the basis of the same logic that applies to nuclear proliferation. Again, the remedy? Just enforce civil rights statutes that prohibit racial discrimination and consider the Pavlovian shriek of “racism!” as the revealing projection of racists.

5. Disrupt and Reform Higher Education 

Our universities are failing to produce competent graduates essential to a meritocratic nation engaged in fierce global competition. Increasingly, students are politicized, largely ignorant, indebted, bitter, and unable to ensure American preeminence in basic science, technology, engineering, and math. 

Yet the solutions are again simple: get the government out of the student-loan business that ensures escalating tuition hikes greater than the rate of inflation. Eliminate faculty tenure and replace it with five-year contracts that require demonstrable achievement. Subject large endowments to taxation on their interest income to curb their wasted spending. Allow public schools to hire either those with school of education credentials or one-year master’s degrees that focused solely on academic study. Require standardized exit tests, in the fashion of erstwhile SAT and ACT entry tests, for the certification of the bachelor’s degree. Force universities to follow the Bill of Rights on campus, regarding due process and freedom of expression. 

These are not radical suggestions. Yet the likely fierce faculty opposition to them is proof that the Left envisions higher education as it views Silicon Valley—another private monopoly that helps to maintain political power in lieu of popular support.

6. Revive the Armed Forces 

Our military is in dire straits. It is overcommitted, under-resourced, and without any geo-political strategy other than ad hoc responses without defined objectives. It has become politically weaponized and, inevitably, unable to meet recruitment goals. The Pentagon remains obsessed with exorbitantly priced weapons that cannot be produced in sufficient numbers in an age of hostile swarms of cheap, mass-produced drones and thousands of batteries of ground-to-air and shore-to-ship missiles. 

Constant profiling, racial, and gender quotas and obsessions over proportional representation and disparate impact increasingly apply to training, education, and promotion—to everything except worries over the disproportionate profile of those killed in battle. The Pentagon has become adept in publishing racial data on every aspect of military service to emphasize disparity and bias—except concerning the combat dead. 

To address the changes, retiring high-ranking officers should refrain from board memberships on contracting corporations for at least five years upon leaving the military. The uniform code of military justice must be strictly enforced, including article 88 which prohibits retired officers from attacking in personal terms high-ranking elected officials, and in particular their commander-in-chief. 

Woke training is destroying morale and battlefield efficacy. The military must return to a race and gender neutral stance that does not erode meritocratic standards to fit political agendas. We should never again witness a chairman of the Joint Chiefs of Staff virtue signaling to Congress and the nation his intention to understand “white rage” in the ranks, without supplying any confirmatory evidence or data for his apparent allegation of systemic racism in the ranks—particularly not while the greatest U.S. defeat and humiliation in a half-century was unfolding on the horizon in Kabul. Any high-ranking military officer who informs his Chinese counterpart of his own psychiatric diagnosis that his commander-in-chief is unhinged and thus U.S. strategic intentions will first be relayed to Beijing should be summarily dismissed.

7. Fix Voting 

Elections are a mess. The greatest political revolution in our election history has been the change—accelerated under the cover of COVID and the George Floyd riots—in many key estates from a 20-30 percent “absentee ballot” vote to 70-80 percent early/mail-in balloting. In a mere four years we have all but destroyed Election Day voting and Election Night final tabulations as we had known them for decades. 

All discussions of voter IDs, fraud, and charges and countercharges of election denialism are irrelevant if there is no real mechanism to validate the authenticity of mail-in ballots that have incomplete or false addresses, names, and signatures, or do not match registration rolls. Third-party ballot harvesting and ballot curing should be outlawed at the federal level, and we should return to the requirement of requesting absentee ballots rather than automatically sending them out. Otherwise, no future election will again win the confidence of a majority of Americans. And without trust in balloting, consensual government becomes nonexistent.

8. Drain the Swamp 

Americans distrust the “swamp,” administrative state, or deep state. Call what you will, the Washington nexus of bureaucracies, media, and lobbyists has created a huge, unelected permanent army of auditors, regulators, investigators, and punishers, all mostly exempt from audit and accountability and without fear of their elected overseers. 

The easiest solution is to break up concentrations of power. Transfer out of Washington, in this age of zoom and telecommunications, major cabinet departments like Health and Human Services, Energy, or Agriculture into the hinterland. Restore the idea that lying to Congress, feigning amnesia, or pleading ignorance under oath to Congress or federal investigators or in depositions is a prosecutable felony with jail time. 

Had we restored equality under the law, then an Andrew McCabe, James Clapper, and John Brennan would not have dared lie under oath. And a Robert Mueller, James Comey, Anthony Fauci, or Jack Dorsey might have not so easily believed they simply could plead memory loss or mislead in a fashion that no American would dare to do with the IRS. 

Being forced to tell the truth would be a powerful deterrent against bureaucratic overreach. 

Finally, ossified centralized agencies like the FBI need to be broken up and their bureaus redistributed through the cabinet-level departments to avoid past pathologies resulting from a concentration of power.

9. Upend the Welfare State 

The number of those receiving federal and state subsidies is beginning to match the number of those who subsidize them. “No one wants to work anymore” is now a common public lament. Inflation and recession may come and go, but workers are now scarce whether we are in boom or bust times. Labor non-participation remains at an all-time high. Soon only 60 percent of the available labor force will be working. Trillion-dollar COVID subsidies have accelerated the idea that Americans need not work full-time to maintain a living. 

We can easily return to the “workfare” championed by a triangulating Bill Clinton in the 1990s that demanded healthy and able recipients to be gainfully employed upon receipt of state and federal cash. In the context of the homeless, we need to return to pre-Reagan norms of institutionalizing the mentally ill and creating hospitals and safe spaces away from American downtowns to house those who either cannot or will not take care of themselves. Defecating, urinating, injecting, and fornicating on city-streets are not victimless crimes, but assaults on civilized life as we once knew it.

10. Restore Norms 

Fact is, few public norms are left. Rather than the current therapeutic obsessions that seek to divide Americans into binaries of oppressors and the oppressed, we are in desperate need of civic education in K-12 that acquaints all children and teens with American institutions, key events like Gettysburg or D-Day, and familiarity with the Constitution and the duties of the citizen. We will get nowhere basing our understanding of the world on psychodramas and therapeutics. 

Neither journalists nor elites understand, much less appreciate, the First Amendment, and in ignorance despises the Second.

Like it or not, the nuclear family remains the bulwark of the American nation, which will not survive if current fertility rates of below 1.7 children per woman continue to diminish and age the population. The government must incentivize childbearing and child raising. 

Without clear punishment for violent crimes, deterrence is lost, and the innocent become victims of the exempt criminal class. Critical race theory, critical legal theory, and critical criminology theory are euphemisms for unleashing lawbreakers upon the vulnerable. We are in a strange cycle in which we deliberately do not enforce gun laws in our cities and then when murder reaches near historic proportions we blame unenforced guns laws rather than the criminals who are exempt in using deadly weapons as the cause. 

These are just a few of the many ways that the United States could stop the present madness—which, after all, was entirely self-created.

Tyler Durden Mon, 12/19/2022 - 16:20

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Analyst reviews Apple stock price target amid challenges

Here’s what could happen to Apple shares next.

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They said it was bound to happen.

It was Jan. 11, 2024 when software giant Microsoft  (MSFT)  briefly passed Apple  (AAPL)  as the most valuable company in the world.

Microsoft's stock closed 0.5% higher, giving it a market valuation of $2.859 trillion. 

It rose as much as 2% during the session and the company was briefly worth $2.903 trillion. Apple closed 0.3% lower, giving the company a market capitalization of $2.886 trillion. 

"It was inevitable that Microsoft would overtake Apple since Microsoft is growing faster and has more to benefit from the generative AI revolution," D.A. Davidson analyst Gil Luria said at the time, according to Reuters.

The two tech titans have jostled for top spot over the years and Microsoft was ahead at last check, with a market cap of $3.085 trillion, compared with Apple's value of $2.684 trillion.

Analysts noted that Apple had been dealing with weakening demand, including for the iPhone, the company’s main source of revenue. 

Demand in China, a major market, has slumped as the country's economy makes a slow recovery from the pandemic and competition from Huawei.

Sales in China of Apple's iPhone fell by 24% in the first six weeks of 2024 compared with a year earlier, according to research firm Counterpoint, as the company contended with stiff competition from a resurgent Huawei "while getting squeezed in the middle on aggressive pricing from the likes of OPPO, vivo and Xiaomi," said senior Analyst Mengmeng Zhang.

“Although the iPhone 15 is a great device, it has no significant upgrades from the previous version, so consumers feel fine holding on to the older-generation iPhones for now," he said.

A man scrolling through Netflix on an Apple iPad Pro. Photo by Phil Barker/Future Publishing via Getty Images.

Future Publishing/Getty Images

Big plans for China

Counterpoint said that the first six weeks of 2023 saw abnormally high numbers with significant unit sales being deferred from December 2022 due to production issues.

Apple is planning to open its eighth store in Shanghai – and its 47th across China – on March 21.

Related: Tech News Now: OpenAI says Musk contract 'never existed', Xiaomi's EV, and more

The company also plans to expand its research centre in Shanghai to support all of its product lines and open a new lab in southern tech hub Shenzhen later this year, according to the South China Morning Post.

Meanwhile, over in Europe, Apple announced changes to comply with the European Union's Digital Markets Act (DMA), which went into effect last week, Reuters reported on March 12.

Beginning this spring, software developers operating in Europe will be able to distribute apps to EU customers directly from their own websites instead of through the App Store.

"To reflect the DMA’s changes, users in the EU can install apps from alternative app marketplaces in iOS 17.4 and later," Apple said on its website, referring to the software platform that runs iPhones and iPads. 

"Users will be able to download an alternative marketplace app from the marketplace developer’s website," the company said.

Apple has also said it will appeal a $2 billion EU antitrust fine for thwarting competition from Spotify  (SPOT)  and other music streaming rivals via restrictions on the App Store.

The company's shares have suffered amid all this upheaval, but some analysts still see good things in Apple's future.

Bank of America Securities confirmed its positive stance on Apple, maintaining a buy rating with a steady price target of $225, according to Investing.com

The firm's analysis highlighted Apple's pricing strategy evolution since the introduction of the first iPhone in 2007, with initial prices set at $499 for the 4GB model and $599 for the 8GB model.

BofA said that Apple has consistently launched new iPhone models, including the Pro/Pro Max versions, to target the premium market. 

Analyst says Apple selloff 'overdone'

Concurrently, prices for previous models are typically reduced by about $100 with each new release. 

This strategy, coupled with installment plans from Apple and carriers, has contributed to the iPhone's installed base reaching a record 1.2 billion in 2023, the firm said.

More Tech Stocks:

Apple has effectively shifted its sales mix toward higher-value units despite experiencing slower unit sales, BofA said.

This trend is expected to persist and could help mitigate potential unit sales weaknesses, particularly in China. 

BofA also noted Apple's dominance in the high-end market, maintaining a market share of over 90% in the $1,000 and above price band for the past three years.

The firm also cited the anticipation of a multi-year iPhone cycle propelled by next-generation AI technology, robust services growth, and the potential for margin expansion.

On Monday, Evercore ISI analysts said they believed that the sell-off in the iPhone maker’s shares may be “overdone.”

The firm said that investors' growing preference for AI-focused stocks like Nvidia  (NVDA)  has led to a reallocation of funds away from Apple. 

In addition, Evercore said concerns over weakening demand in China, where Apple may be losing market share in the smartphone segment, have affected investor sentiment.

And then ongoing regulatory issues continue to have an impact on investor confidence in the world's second-biggest company.

“We think the sell-off is rather overdone, while we suspect there is strong valuation support at current levels to down 10%, there are three distinct drivers that could unlock upside on the stock from here – a) Cap allocation, b) AI inferencing, and c) Risk-off/defensive shift," the firm said in a research note.

Related: Veteran fund manager picks favorite stocks for 2024

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Major typhoid fever surveillance study in sub-Saharan Africa indicates need for the introduction of typhoid conjugate vaccines in endemic countries

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high…

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There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high burden combined with the threat of typhoid strains resistant to antibiotic treatment calls for stronger prevention strategies, including the use and implementation of typhoid conjugate vaccines (TCVs) in endemic settings along with improvements in access to safe water, sanitation, and hygiene.

Credit: IVI

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high burden combined with the threat of typhoid strains resistant to antibiotic treatment calls for stronger prevention strategies, including the use and implementation of typhoid conjugate vaccines (TCVs) in endemic settings along with improvements in access to safe water, sanitation, and hygiene.

 

The findings from this 4-year study, the Severe Typhoid in Africa (SETA) program, offers new typhoid fever burden estimates from six countries: Burkina Faso, Democratic Republic of the Congo (DRC), Ethiopia, Ghana, Madagascar, and Nigeria, with four countries recording more than 100 cases for every 100,000 person-years of observation, which is considered a high burden. The highest incidence of typhoid was found in DRC with 315 cases per 100,000 people while children between 2-14 years of age were shown to be at highest risk across all 25 study sites.

 

There are an estimated 12.5 to 16.3 million cases of typhoid every year with 140,000 deaths. However, with generic symptoms such as fever, fatigue, and abdominal pain, and the need for blood culture sampling to make a definitive diagnosis, it is difficult for governments to capture the true burden of typhoid in their countries.

 

“Our goal through SETA was to address these gaps in typhoid disease burden data,” said lead author Dr. Florian Marks, Deputy Director General of the International Vaccine Institute (IVI). “Our estimates indicate that introduction of TCV in endemic settings would go to lengths in protecting communities, especially school-aged children, against this potentially deadly—but preventable—disease.”

 

In addition to disease incidence, this study also showed that the emergence of antimicrobial resistance (AMR) in Salmonella Typhi, the bacteria that causes typhoid fever, has led to more reliance beyond the traditional first line of antibiotic treatment. If left untreated, severe cases of the disease can lead to intestinal perforation and even death. This suggests that prevention through vaccination may play a critical role in not only protecting against typhoid fever but reducing the spread of drug-resistant strains of the bacteria.

 

There are two TCVs prequalified by the World Health Organization (WHO) and available through Gavi, the Vaccine Alliance. In February 2024, IVI and SK bioscience announced that a third TCV, SKYTyphoid™, also achieved WHO PQ, paving the way for public procurement and increasing the global supply.

 

Alongside the SETA disease burden study, IVI has been working with colleagues in three African countries to show the real-world impact of TCV vaccination. These studies include a cluster-randomized trial in Agogo, Ghana and two effectiveness studies following mass vaccination in Kisantu, DRC and Imerintsiatosika, Madagascar.

 

Dr. Birkneh Tilahun Tadesse, Associate Director General at IVI and Head of the Real-World Evidence Department, explains, “Through these vaccine effectiveness studies, we aim to show the full public health value of TCV in settings that are directly impacted by a high burden of typhoid fever.” He adds, “Our final objective of course is to eliminate typhoid or to at least reduce the burden to low incidence levels, and that’s what we are attempting in Fiji with an island-wide vaccination campaign.”

 

As more countries in typhoid endemic countries, namely in sub-Saharan Africa and South Asia, consider TCV in national immunization programs, these data will help inform evidence-based policy decisions around typhoid prevention and control.

 

###

 

About the International Vaccine Institute (IVI)
The International Vaccine Institute (IVI) is a non-profit international organization established in 1997 at the initiative of the United Nations Development Programme with a mission to discover, develop, and deliver safe, effective, and affordable vaccines for global health.

IVI’s current portfolio includes vaccines at all stages of pre-clinical and clinical development for infectious diseases that disproportionately affect low- and middle-income countries, such as cholera, typhoid, chikungunya, shigella, salmonella, schistosomiasis, hepatitis E, HPV, COVID-19, and more. IVI developed the world’s first low-cost oral cholera vaccine, pre-qualified by the World Health Organization (WHO) and developed a new-generation typhoid conjugate vaccine that is recently pre-qualified by WHO.

IVI is headquartered in Seoul, Republic of Korea with a Europe Regional Office in Sweden, a Country Office in Austria, and Collaborating Centers in Ghana, Ethiopia, and Madagascar. 39 countries and the WHO are members of IVI, and the governments of the Republic of Korea, Sweden, India, Finland, and Thailand provide state funding. For more information, please visit https://www.ivi.int.

 

CONTACT

Aerie Em, Global Communications & Advocacy Manager
+82 2 881 1386 | aerie.em@ivi.int


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US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever… And Debt Explodes

US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever… And Debt Explodes

Earlier today, CNBC’s…

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US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever... And Debt Explodes

Earlier today, CNBC's Brian Sullivan took a horse dose of Red Pills when, about six months after our readers, he learned that the US is issuing $1 trillion in debt every 100 days, which prompted him to rage tweet, (or rageX, not sure what the proper term is here) the following:

We’ve added 60% to national debt since 2018. Germany - a country with major economic woes - added ‘just’ 32%.   

Maybe it will never matter.   Maybe MMT is real.   Maybe we just cancel or inflate it out. Maybe career real estate borrowers or career politicians aren’t the answer.

I have no idea.  Only time will tell.   But it’s going to be fascinating to watch it play out.

He is right: it will be fascinating, and the latest budget deficit data simply confirmed that the day of reckoning will come very soon, certainly sooner than the two years that One River's Eric Peters predicted this weekend for the coming "US debt sustainability crisis."

According to the US Treasury, in February, the US collected $271 billion in various tax receipts, and spent $567 billion, more than double what it collected.

The two charts below show the divergence in US tax receipts which have flatlined (on a trailing 6M basis) since the covid pandemic in 2020 (with occasional stimmy-driven surges)...

... and spending which is about 50% higher compared to where it was in 2020.

The end result is that in February, the budget deficit rose to $296.3 billion, up 12.9% from a year prior, and the second highest February deficit on record.

And the punchline: on a cumulative basis, the budget deficit in fiscal 2024 which began on October 1, 2023 is now $828 billion, the second largest cumulative deficit through February on record, surpassed only by the peak covid year of 2021.

But wait there's more: because in a world where the US is spending more than twice what it is collecting, the endgame is clear: debt collapse, and while it won't be tomorrow, or the week after, it is coming... and it's also why the US is now selling $1 trillion in debt every 100 days just to keep operating (and absorbing all those millions of illegal immigrants who will keep voting democrat to preserve the socialist system of the US, so beloved by the Soros clan).

And it gets even worse, because we are now in the ponzi finance stage of the Minsky cycle, with total interest on the debt annualizing well above $1 trillion, and rising every day

... having already surpassed total US defense spending and soon to surpass total health spending and, finally all social security spending, the largest spending category of all, which means that US debt will now rise exponentially higher until the inevitable moment when the US dollar loses its reserve status and it all comes crashing down.

We conclude with another observation by CNBC's Brian Sullivan, who quotes an email by a DC strategist...

.. which lays out the proposed Biden budget as follows:

The budget deficit will growth another $16 TRILLION over next 10 years. Thats *with* the proposed massive tax hikes.

Without them the deficit will grow $19 trillion.

That's why you will hear the "deficit is being reduced by $3 trillion" over the decade.

No family budget or business could exist with this kind of math.

Of course, in the long run, neither can the US... and since neither party will ever cut the spending which everyone by now is so addicted to, the best anyone can do is start planning for the endgame.

Tyler Durden Tue, 03/12/2024 - 18:40

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