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MN Gordon: Your Government Hates You
In fiscal year 2022, federal tax receipts as a share of gross domestic product (GDP) hit a near record high of 19.6 percent. We have the highest tax revenue ever coupled with some of the largest deficits ever. If you cannot balance the budget when you have record tax collections, you never will.
The Fed’s Argument That It’s Not Directly Financing Government Debt Finally Fails
The most interesting thing about what the Fed is now doing is that it is illegal. The Fed’s argument that it is not monetizing the US debt fails now on its own terms. The Fed is buying treasuries for no purpose other than to directly finance the government’s escalating debt. Here’s the deal:
Devastating Damage from the Pandemic Is a Long Line of Bad News
It’s time for my semi-regular roundup of where the economy has gone since the last roundup, and … It’s a long line of devilish details
Protected: The Great Yield Curve Control Conundrum
There is no excerpt because this is a protected post.
Protected: MMT is Here! Start Stacking Money Like Firewood
There is no excerpt because this is a protected post.
Crazy Cramer and Kookoo Kudlow Hatch Coronavirus War Bond Goose Egg
Ron Insana, whom I’ve always thought was well named due to the funny way his brain works and the way he smiles even when nothing is happening, has just melded minds with Kudlow & Cramer to support a coronavirus war bond: My colleague, Jim Cramer, made a very interesting recommendation Monday morning, calling on the U.S. Treasury […]
The Epocalypse is Different This Time, Yet Much as Predicted
Four years after the following lead-in article to my Epocalypse series was written, it is coming true before your eyes. Some of it came true right after it was written. Most is happening now. You can see the events it describes overtaking us in all the ways it laid out, and you can go back […]
The Bailout Bonanza is Back! (Pt 2: Hedge Hogs Demand More!)
The emphasis has to be on HOG as they squeal for corporate welfare and push their snouts into the trough. One hedge hog says the government needs to bail out all businesses by paying all wages so companies that depleted all cash don’t have to pay to retain all workers:
Big Bond Bubble Begins to Blow!
The bust is on! Not only is the stock market crashing like never seen before (Dow down 3,000 points today!), but there are now deeply distressing breaks in the bond market. These staggering responses to Fed actions run counter to what is expected; but people are so focused on stocks, the are missing the more […]
Lunatic Larry Promises Trump Candyland for Election Year
National Economic Council Director Larry Kudlow, a top economic adviser to President Donald Trump, said Wednesday that the White House plans to unveil a plan for additional tax cuts later in 2020. “I am still running a process of Tax Cuts 2.0. We’re many months away – it’ll come out sometime later during the campaign,” […]
Protected: The Whacky Wonderland of Sovereign Debtors and their Central Banksters
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The Relentless Road to Recession
“Show me the data,” demand those who cannot see a recession forming all around them and who keep parroting what they are told about the economy being strong because it is what they want to believe; yet, the data look like an endless march through a long summer down the road to recession.