Showing posts with label National Debt. Show all posts
Showing posts with label National Debt. Show all posts

September 29, 2023

Potential Government Shutdown and The National Debt

(Credit Photo: Minna Blumenthal)


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July 2, 2022

Contradictions, Corruption, and Lies

Please see my new article in The Times of Israel called "Contradictions, Corruption, and Lies."

The list of “nonsensicals” in our society could go on and on (and I won’t even get started with all the Covid mandates and chaos), and you have to ask yourself what type of country (and world) we are leaving to future generations: A world that is full contradictions, corruption, and lies!
In the end, we can’t live with the double-talk and lies that we are being fed or the political grandstanding and corruption that takes the place of real humanity and progress. This leaves us to find truth and faith in the good and love that is G-d and to act from His word and not the phony media or corrupt politicians that seek to lead us continuously astray.

(Credit Photo: Andy Blumenthal)

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June 18, 2022

It’s The Economy Stupid

Please see my new article in The Times of Israel called "It's The Economy Stupid."
It is incredible that our leaders, economic advisors, and near endless pundits didn’t see what was surely coming down the road in terms of an overheating economy, inflation, and a spiraling national debt now over $30 trillion and growing. Despite economic signals even visible to the layman, the Fed continued to promise to hold the interest rates near zero “for years” to come. The cheap money and free-wheeling government spending became an avalanche with almost no adult in the room willing to stand up and say, “Stop the money madness! Government handouts are not free!”
Aside from the recklessness with which our economy has been handled, let’s not forget that there is a proxy war going on between the superpowers in Ukraine for the last four months, including a frightening blockade on grain shipments (i.e. food terrorism) to tens of millions of people. Further toward the east, China is upping the ante vowing to “fight until the end” for sovereignty over Taiwan. And in the middle, Iran is dismantling the IAEA nuclear monitoring cameras, adding high-speed centrifuges, increasing uranium enrichment, and threatening Israel and the West. Let’s just say all is not copacetic in the world, while a congressional select committee continue to focus on what happened on January 6, 2021 with the U.S. Capitol riots.

People are not blind, deaf, and dumb to what’s going on with the childish gamesmanship, politics of hate, and plenty of recklessness that is driving much of the national debate and (in)action in the country. 

(Credit Photo: Blink O'fanaya; adapted from https://www.flickr.com/photos/blinkofanaye/14913895723/)

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May 13, 2022

No News Is Good News

No news is good news. 

Unfortunately, most of the news these days is bad news.

  • War
  • Terrorism
  • Global tensions
  • Threats of WMD
  • Political dysfunction
  • Inflation
  • Trade deficit
  • Ballooning debt
  • Sinking economy
  • Global warming
  • Social divisions
  • Rampant crime
  • Chaos at the border
  • Pandemic
  • Care giver shortage

Only good news is usually technology and acts of compassion, caring, personal sacrifice and sometimes true heroism!  ;-)

(Credit Photo: Andy Blumenthal)


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January 1, 2022

A 2022 New Year of Eggs

New Years 2022. 

Congratulations!

But I wouldn't call it "eggcellent," because there is a lot of world instability and fear looming on the horizon.

Are we looking at competition, conflict, and even possible areas of collapse or a much rosier outcome in the order of things?

  • From Russia to China and Iran to North Korea. 
  • From Al-Qaeda to ISIS and Hamas to Hezbollah and Islamic Jihad
  • From WMD to Cyber 9/11 and EMPs to Hypersonic ICBMs
  • From Covid to the Economy and Inflation to National Insolvency

Like a bunch of eggs. 

Will it be a year of Broken, Scrambled and Mashed or Sunny Side Up and Eggs Over Easy? 

Either way, we had better hope and pray that we don't get fried and burned.  ;-)

(Credit Photo: Andy Blumenthal)


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December 11, 2021

Dancing on the Head of a Pin

Please see my new article in The Times of Israel called "Dancing on the Head of a Pin."
We’re all different, and we all have something to say and contribute to solve life’s challenges. While some of us may think that they are better than others, the reality is that we are all human, fallible, and subject to life’s circumstance and G-d’s mighty hand. However, too often, we let ego get in the way, and instead of taking on the huge, almost insurmountable challenges that we face, we end up fighting about who’s in charge and who gets the credit.
As we face the daunting challenges confronting America, Israel, and the world, we need effective “servant-leaders,” who are guided by a genuine moral compass and faith in G-d to take well-reasoned actions and not to punt the problems down the political road. Real leadership means leaving your ego at the door; it means self-sacrifice, compassion, creative thinking, and bold problem-solving. Big challenges can be dealt with, but we’ve got to have the right measure of ourselves, strength of character, and unity of purpose to finally overcome them.

(Credit Photo: Andy Blumenthal)


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August 17, 2021

Disastrous Politics

This Afghan withdrawal and the Taliban overrunning the country is a complete fiasco. 

- 20 years of blood and treasure: $2,000,000,000,000, and 2,500 lost US military personal and G-d knows how many casualties (oh, about another 20,000)!

Now complete and utter chaos, and a turnover to terrorism.

Reminiscent of Iran's overthrow of the Shah and the U.S. hostage crisis for 444 days and when we lost Vietnam and the helicopters frantically evacuating US embassy personnel from the rooftop. 

BTW, what happened to our "Red Lines" on chemical weapons in Syria?

Where are our inherent values and the dependability of who we are and what we stand for?

Now we are once again emboldening Iran, North Korea, China, and Russia. 

Moreover, US Admiral says China is within 6 years of potentially taking Taiwan (guess where most of the computer chips are made and we already have a shortage)!!!

On top of this we have the Delta variant of Covid (and fears of worse coming) for this 1.5 year long pandemic with the CDC mask on again/off again non-sensical guidance. 

Then we have a $1,200,000,000,000 infrastructure bill and a $3,500,000,000,000 social welfare bill in the works to put on top of the US already almost $29,000,000,0000,000 national debt

Any ideas what that will do to the value of the US currency in the world and inflation rearing its ugly head.

I am starting to see a run on food and home stables in the stores again with items sold out.

Consumer confidence is shaking and the stock market is teetering off at a very high precipice. 

Oh, don't forget the border crisis which is getting out of control again. 

What the F*** is going on here?  ;-)

(Credit Photo: Andy Blumenthal)


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April 27, 2021

Motif For The U.S. Economy


This seems like it could be a major theme of the U.S. economy. 

"Buy Now, Pay Later!"

And then...

"Foreclosure"

You can't borrow infinitely.

It eventually has to be repaid. 

Where will the money come from?  

Print more.

Worth less!  ;-)

(Credit Photo: Andy Blumenthal)


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March 28, 2021

Walk Fort Lauderdale Beach

Eleven minute walk along Fort Lauderdale Beach.

Crazy during Spring Break!

This country in between crises letting off steam amidst:
- Multitude inner city shootings
- Racism and violent riots
- Anarchy at the Capitol
- Our sovereign borders being overrun
- Chaotic Covid pandemic
- Ridiculously out-of-control spiraling national debt
- Deteriorating relations with superpowers Russia and China
- Nuclear escalations with Iran and North Korea
- Another horrible election

Who will save this country from itself? ;-)

(Credit Video: Andy Blumenthal)

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March 15, 2021

Vibrant Fashion Colors

Wow, what a vibrant fashion display of color at Macy's!

This is bold. 

This is fun.

This is exciting. 

This is alive. 

We're coming from the Covid dead back to the pre-pandemic life!  

Take out your stimulus checks and get ready to spend. 

There is still hope for humankind.  ;-)

(Credit Photo: Andy Blumenthal)


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February 12, 2021

Forecast 2021 By Andy Blumenthal




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November 23, 2020

What A Dumb Education System

School is supposed to help teach our children. 

Unfortunately, the education system here starts out dumb from the get-go!

As the WSJ today reports, $400 billion out of a $1.4 trillion educational loan portfolio is likely uncollectible.  

That's almost 30% bad debt!

But what is unforgivable is that they system is geared towards crappy lending practices. 

As per a former head of the Congressional Budget Office (CBO):

"We make no attempt to evaluate the quality of the borrower, the ability to repay, the effectiveness of the loans...[so] the taxpayer ends up picking up the tab."

Is that fair to all the responsible students and families that pay for their education and repay their student loans?

This systems is so broken, and on top of it yet we want to forgive more student debt all together and teach our children to be deadbeats!

It seems like this education system can't teach anything of value except how to play an already broken system!  ;-)

(Credit Photo: Andy Blumenthal)


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July 26, 2020

Planning Ha Ha

Man Plans and G-d Laughs!
So in retrospect, in 2015, not a single person got the answer right to 'where do you se yourself 5 years from now?'

Where you gonna be in 2020?

Stuck at home for almost the entire year!

But you are a fortune teller and are so smart you should've rolled your dice in the ever exploding  bubble of a stock market.

Oh, that's right, you did!  ;-)

(Credit Photo: Andy Blumenthal)
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July 12, 2020

IMHO Warning: Stock Market MAJOR Correction Imminent

I went to the mall today.

This is a few weeks into reopening phase 2!

I expected people would have pent up demand and be swarming the stores even while keeping their social distance.

They weren't at the mall! 

The stores were nearly void of people.

The shelves were virtually empty of goods.

Whatever merchandise there was seemed to marked "sale, sale, sale" even on the already deeply-discounted clearance items.

It was completely frightening--like the economy is dead or on severe life support!

Most stores had 3 or more associates standing around or sitting twiddling their thumbs.

This while the stock market keeps ticking up and the NASDAQ is reaching new highs almost daily.

Coronavirus is surging again across much of the U.S. and there is almost 140,000 dead in the U.S. after just 5 months even though much of the population was in self-quarantine.

The economy looks to me in sh*t shape, despite the U.S. pumping $3 trillion dollars more of debt to artificially prop up the economy and the fed lending out money at super low rates.

It makes NO sense for the market to be hitting all time highs as if everything is all roses when the economy is still a true mess!

The New Yorker magazine wrote back in May of a post coronavirus "decade of depression" with an L shaped recovery, yet we keep seeing a V-shaped one and no one seems to be able to offer any plausible explanation for it.

Two-months ago, even before the recent stock run-up to higher levels, Business Insider reported that "the Stock Market is trading at its highest valuation in 18-years."

Last month, Forbes reported that "the stock market appears to be reaching unsustainable highs."

Yesterday again, Bloomberg reported that the "economic recovery is faltering."

Almost daily, I read that companies are laying off their workers (in Travel, Transportation, Entertainment, Retail, Energy, etc.) or declaring bankruptcy (e.g. Hertz, JC Penny, Neiman Marcus, Chesapeake Energy, and more).

This while we are still, in the best case scenario, maybe half a year away from the possibility of a tested, approved vaccine. And then it will still need to be mass produced and mass distributed to hundreds of millions of people in this country and billions globally.

In the meantime, we certainly could be up for a second wave of Coronavirus on top of the flu in the fall/winter. And then the Coronavirus may mutate and become more virulent requiring annual vaccines like the flu shot--more hit or miss.

All this while U.S.-China trade war is imperiling our economy further, and arch-enemies Iran and North Korea remain national security threats.

To me this all points to that we are nowhere near out of the woods and perhaps that there is a wildfire raging and no one seems to be paying any attention!

The stock market euphoria is a common trap and is the definition of "irrational exuberance" but comes after investors have been robotically indoctrinated to buy the dips!

IMHO, buyer beware, beware, beware. ;-)

(Credit Photo: Andy Blumenthal)
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May 11, 2020

Stock Market Pinocchio Style


Look folks, Pinocchio's nose is getting longer by the minute.

The market continues on a tear, even while the economy is heading in the other direction. 

I know people have been conditioned to buy on the dips, but I'm not sure that applies while we're in the middle (or maybe still just in the beginning) of a pandemic that has claimed 286,000 lives in just over 2 months (and that's with a global shutdown)!

Somehow, there is a notion that when things start to reopen that all the problems will just magically go away, including the $3 trillion we just added to our national debt, all the bankruptcies being declared, and all the job losses that are becoming permanent. 

If you believe this, perhaps you'd like to buy the Brooklyn Bridge.

The greater fool theory is alive and well.  ;-)

(Credit Graphic: Andy Blumenthal)
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May 7, 2020

The Coronavirus Stock Market

I believe this photo best summarizes where we are with the Coronavirus stock market.

As they say:
Don't count your chicken before they hatch.

This market has gotten way ahead of itself and the pending economic realities of the Coronavirus and the consequences of the trillions of response fund debt. 

Remember:

- The virus does not yet have a vaccine, and it is mutating and may become even more virulent!

- The deaths continue to soar in the U.S. with now over 75,000 dead in just two months.

- The deaths involve much pain and suffering both for the victim and his/her grieving loved ones. 

- The unemployment is at all time highs since the Great Depression. 

- Companies are starting to move from temporary layoffs to permanent firings and contraction, and many eventually to bankruptcy. 

- Profitability and gross domestic product are way down and may be even worse in the next quarter.

- Price Earning ratios are around their 10-year highs even looking out toward a possible 2021 recovery. 

- Restarting the economy does not mean a return to what was as the extreme trauma from the pandemic, shutdown, and social distancing rebalance us to a "new normal."

- A second and third wave of Coronavirus may be as bad or even worse than the first. 

- The two biggest global economies of the U.S. and China are facing a deteriorating and toxic relationship.

- The lingering $3,000,000,000,000 that we just added to our National Debt is going to increasingly strangle our future economic outlook. 

- The election is in November and brings increasing instability and likely volatility. 

In summary, the term used by former Fed Chairman, Alan Greenspan of "irrational exuberance" seems like a gross understatement when it comes to our current stock market.  

Get ready to see the froth come painfully off this drunken market--these eggs are about ready to crack.  ;-)

(Credit Photo: Andy Blumenthal)
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April 30, 2020

Predicted It Right In 2017

This was such a funny photo I found of me from 2017.

Holding a book called The End of The F*cking World.

Little did we know back then Coronavirus was coming our way.

One thing that is amazing to me is the incredible lack of responsibility when it comes to our fiscal (tax rates and spending) and monetary policy (interest rates and money supply). 

For example, we've spent almost $3,000,000,000,000 (i.e. trillion) on Coronavirus Relief/Recovery. 

And there is another package in the works to borrow and spend more money. 

This on top of our already tens of trillions of dollars of national debt we already accumulated. 

The crazy thing is that this is going on globally with Europe and Japan and others borrowing and spending without any sanity as well. 

Now here is the BIG QUESTION for you all:

If everyone is borrowing and spending, who are they borrowing from???

Yep, this is called funny money! 

Because it's not possible for everyone to be borrowing and carrying a bottom line net debt at the same time.  

The money has to come from somewhere doesn't it?

The Federal Reserve is "injecting" trillions into the economy and their balance sheet of "loans" to us is going up towards $11 trillion dollars now.  

These injections are short term medicine that may kill the patient down the road by overdose!

Have you ever heard of a Chair of the Federal Reserve that "urges policy makers to spend more"?

Simple economics tells us that this will yield at some point an unbelievable inflation.

We are injecting or "printing" more and more money (or electronic bytes of it), and that causes the money to devalue because there is so much of it (supply side economics) with nothing but hot air backing it up (we haven't been on the gold standard since 1971).

There is a DAY OF RECKONING coming when:

- People's savings and wallets will devalue and money will be worth close to squat after RUNWAY INFLATION.  

- Also, what do you think will happen to the stock market and jobs too when people have only loads of valueless funny money and can't buy anymore like they used too--can anyone say MARKET CRASH and UNEMPLOYMENT!

Folks, you heard it here first, the end of the f*cking world is coming--it's called CONSEQUENCES, plain and simple. ;-)

(Credit Photo: Dannielle Blumenthal)
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April 12, 2020

Reopening The Country WITHOUT Endangering The Masses

I understand the absolute need to reopen the country from this Coronavirus. 

We can't shelter in place forever and watch our economy go into the toilet and our national debt bankrupt us!

Therefore, once we have the mechanisms to control the deadly spread, we must open up offices and stores again gradually to get people working and our economy going again. 

At the same time, I am pissed by those corporate executives that actually have the chutzpah and are pushing for us to open up crowded theaters, stadiums, and other such entertainment or other venues that are NOT critical and pose a greater risk for contagion to masses of people. 

Instead of these CEOs understanding the need to hold off on this pending a vaccination or adequate disease control measures, these greedy corporate chieftain seem to care little to nothing about the health of their customers, and only about lining their fat pocketbooks with more ticket sales. 

I think it's criminal type behavior to push our government to open prematurely and irresponsibly those venues that are of greatest risk to potentially millions of people to get sick or dead in order for them to profit from it!  ;-)

Note: It's reported that COVID-19 compared to the flu in 22 fewer days infected 11x as many people and killed 60 times as many

(Credit Photo: Andy Blumenthal)
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March 26, 2020

Rescue Plan Is Largely Another Shortsighted Bailout


First of all let me point out these photos of the day.

The first one are blue lines on the floor at Whole Foods telling people to keep their social distance from other customers. 

One person crossed the blue line and another customer promptly yelled at them that they were going to get them sick!

The second photo is limiting Nutter Butters ("Nut Butters") to 4 per customer during this coronavirus--sh*t people are downing Nutter Butters like there truly is no tomorrow.  LOL

Finally, looking over the $2 trillion Coronavirus Rescue Plan, I see a lot of bailouts--about half through grants and half through loans.  

On the positive and largely necessary side are increases to unemployment insurance payments and aid to needy households (up to $150,000 for married couples is needy?) and to hospitals and transit.

In terms of the business loans, there are "forgivable" ones to small business, so not sure how that is a "loan."

Overall though, it seems like we are throwing a lot of other money around that we as a country don't have and will end up paying in terms of a higher national debt and higher interest payments for generations to come.  

This is another lost opportunity!

If we were already going to spend big money like this, why not pass the infrastructure spending bill to rebuild our aging roads, bridges, electric grid, aviation, public transit, and expand internet coverage.  This would actually put people back to work and build America again, rather than give corporate handouts that are shortsighted and with squat to show for it for the country's ultimate benefit.

Everyone likes to get freebies, but eventually the country will come back to pay the piper, and there will be bread lines and not Nutter Butter. ;-)

(Credit Photos: Minna Blumenthal)
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March 22, 2020

We Just Magically Found $2,000,000,000,000

It's amazing how we can magically find $2 trillion for a Coronavirus "Rescue Plan."

This after we already wasted over $6.4 trillion (and thousands of our dead and wounded) through 2017 in unexplainable and endless wars in Iraq and Afghanistan with no known or lasting benefits to this country (while archenemy, Iran continues their pursuit of nukes unabated). 

And for decades, we haven't been able to find money for:

- Decent healthcare for all Americans.

- Ensuring our national security, including adequate planning and disaster preparedness for things like Coronavirus, cybersecurity, WMDs, EMPs, and for critical infrastructure protection. 

- Repairing our aging roads, bridges, and infrastructure

- Fixing our broken public education system.

- Helping our countless of homeless and needy lying the streets of our nation. 

- Restoring our space program to get a man on the moon again or put another shuttle into space. 

When politics are in play, there is plenty of money to go around. 

But when the nation needs proper care and feeding, there are no adults in the room. ;-)

(Credit Photo: Andy Blumenthal)
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