Choose your own adventure on how we get there, but the final chapter is written. #politics #grownostr #debt
Discussion
"Everybody says to me "Donald you have the biggest and most beautiful deficits I have every seen". And it's true. Nobody has deficits quite like mine. They are BIG, you are going to love it"
🤣 “Huge”
It's hard to keep granting cradle-to-grave-and-every-illegal-migrant promises forever, and also reduce stealing from them. There will be a default. Maybe he know that, and is planning to factor some spending ahead of it. Like, if you were going to declare bankruptcy, you'd be more inclined to rack up a little more debt, especially to satisfy people who expect handouts. Lez be honest, another 5 tril is totally inconsequential.
One or more of three things will happen. 1) Taxes rise significantly , 2) Services are cut significantly , 3) monetary base inflates significantly. Any combination of the three will be a painful shock in a more or less similar magnitude. I’d prefer a path where we dig ourselves out a bit and give people time to start adapting. Adding more is increasing the height of the cliff we are walking towards. A default will be a significant cut to services. Border protection is a service. But I agree in a political situation where event talking about correction never mind actually correcting is a third rail. The default or some combination of the three “forms” of default appear unavoidable.
I’ll add. With The general trend of demographic winter, I’ll say it out loud, a coherent plan for righting the ship from a debt perspective includes more immigrants not less.
