It is sad that the only way for fiscal discipline to occur is for something big to break. I'm watching it at the federal level, the state level (Illinois, for me) and some local levels (Cook County in my case).
It is a helpless feeling, because I know that my children and grandchildren are going to suffer because of this greed and recklessness.
The way the government behaves is the exact opposite of what every well-instructed person was taught growing up: a dollar saved is a dollar earned. Savings is a big deal, because it gives you freedom in the future. It gives you options when you need them. It makes you feel good that you don't owe someone your labor, and thus, your freedom.
As it is, we watch self-interested politicians in a ghastly game of hot potato continue to push the thing closer and closer to catastrophe. We all know it, but we collectively won't make the sacrifice.
As history tells us, this is the fundamental problem with democracy -- that we don't have the collective guts to do the right thing.
How are we going to fix this? Is the plan to just implode and then do The Great Reset?
There is one point that requires constant repetition - the response to COVID was. as you note, shutting down economies and ballooning government spending.
The American problem is we never acknowledge this was temporary spending. The Biden Admin wants to continue to spend not just at that high rate, but at an accelerating rate.
There is no government financial restraint of any kind at a time we have to spend more on defense.
A dream president would announce on Day 1, “I’m not bailing anyone or any industry out during my term, you’re all on your own. Be responsible or pay the price”.
It will get a lot worse before it gets better. And yes, some States will double down on what cannot work while others will consistently do the only policies that can work. Actually, having State & Local governments default will a good sign. Because as long as they can sell bonds and spend money they will persist in policies that can only harm the nation. We're going to have a Recession and very high Inflation. And the voters will have to replace our current ruling class. The only question for me is how much suffering will it take before the voters who have supported Big Government their entire lives decide to reject it? I think their support will end when governments cannot spend because they've defaulted on their bonds & pensions. But I could be very wrong about that.
What have you heard about an upcoming shortage of DEF, diesel exhaust fluid? I have a trucker friend who says it is coming and will really lead to shortages of EVERYTHING!!! Gas, food, all of it.
If you had to guess, which way will propane prices go over the summer? Normally, they are cheap at this time of the year but because of all the natural gas and fertilizer issues, I am about to pay more than I ever have to fill my tank.
Should I fill'er up or only get enough for a few months?
I have no facts to back up my argument, so shred it as you will. I totally agree with Trump's lack of fiscal discipline; my impression was that he knew that true fiscal discipline would be unpopular. I mean, I think Trump would've done something, but he knew that fiscal discipline, like dieting, is something people talk about, they would like to do, but they don't when they find out what it takes. The deductibility of mortgages, for example. Or means testing social security payouts.
It is sad that the only way for fiscal discipline to occur is for something big to break. I'm watching it at the federal level, the state level (Illinois, for me) and some local levels (Cook County in my case).
It is a helpless feeling, because I know that my children and grandchildren are going to suffer because of this greed and recklessness.
The way the government behaves is the exact opposite of what every well-instructed person was taught growing up: a dollar saved is a dollar earned. Savings is a big deal, because it gives you freedom in the future. It gives you options when you need them. It makes you feel good that you don't owe someone your labor, and thus, your freedom.
As it is, we watch self-interested politicians in a ghastly game of hot potato continue to push the thing closer and closer to catastrophe. We all know it, but we collectively won't make the sacrifice.
As history tells us, this is the fundamental problem with democracy -- that we don't have the collective guts to do the right thing.
How are we going to fix this? Is the plan to just implode and then do The Great Reset?
Brilliant as always.
There is one point that requires constant repetition - the response to COVID was. as you note, shutting down economies and ballooning government spending.
The American problem is we never acknowledge this was temporary spending. The Biden Admin wants to continue to spend not just at that high rate, but at an accelerating rate.
There is no government financial restraint of any kind at a time we have to spend more on defense.
Well played.
JLM
www.themusingsofthebigredcar.com
A dream president would announce on Day 1, “I’m not bailing anyone or any industry out during my term, you’re all on your own. Be responsible or pay the price”.
It will get a lot worse before it gets better. And yes, some States will double down on what cannot work while others will consistently do the only policies that can work. Actually, having State & Local governments default will a good sign. Because as long as they can sell bonds and spend money they will persist in policies that can only harm the nation. We're going to have a Recession and very high Inflation. And the voters will have to replace our current ruling class. The only question for me is how much suffering will it take before the voters who have supported Big Government their entire lives decide to reject it? I think their support will end when governments cannot spend because they've defaulted on their bonds & pensions. But I could be very wrong about that.
What have you heard about an upcoming shortage of DEF, diesel exhaust fluid? I have a trucker friend who says it is coming and will really lead to shortages of EVERYTHING!!! Gas, food, all of it.
If you had to guess, which way will propane prices go over the summer? Normally, they are cheap at this time of the year but because of all the natural gas and fertilizer issues, I am about to pay more than I ever have to fill my tank.
Should I fill'er up or only get enough for a few months?
Looking for opinion not a promise.
I have no facts to back up my argument, so shred it as you will. I totally agree with Trump's lack of fiscal discipline; my impression was that he knew that true fiscal discipline would be unpopular. I mean, I think Trump would've done something, but he knew that fiscal discipline, like dieting, is something people talk about, they would like to do, but they don't when they find out what it takes. The deductibility of mortgages, for example. Or means testing social security payouts.