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Mark Wauck's avatar

KD on the 24th, explaining why despite the regime's twisting and turning, Russia is on track to win:

If you think any sort of armed conflict with Russia is a good idea you're out of your mind. If you think projecting weakness toward them while at the same time doing anything that threatens their only 12-month deep-water port is going to turn out well you're crazy enough that you deserve the collapse of civil society or even nuclear attack you're risking.

The Zhou regime is a laughingstock overseas--take that to the bank.

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NCmom's avatar

At best we end up with austerity. At worst we end up with austerity and China crushes us while we are down. Let’s just hope Soros is dead before that happens.

Too many in the policy-making arena are convinced we can inflate our way out of the debt crises. They let inflation get away before considering that congress is still spending more than it brings in. The problem becomes that inflation without actually paying down the debt only makes it worse. I am personally unaware of inflating one’s way out of debt ever working absent austerity.

It would have been wise to respond with slow interest rate increases from last summer - letting the market respond with a correction - and coupled with cuts to the federal budget. They would have had to end all Covid restrictions as well so people were at least trying to work and not leaving jobs to avoid a faux vaccine, often to a disease they were already immune, with a terrible side effect profile.

Instead they did everything wrong - again - from the feds to congress.

Pain will come - the only question is how much and how long. Eventually every entity that continually engages in spending more than they bring in will reach their credit maximum.

On another note I’m hoping this concept of Goldbacks takes off. Less volatile than crypto, uses the world’s oldest money, and value is set beyond the control of either congress or the feds.

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