Jim’s Mailbox

Posted at 8:18 AM (CST) by & filed under Jim's Mailbox.

Pretty dismal, debt, debt, and MORE DEBT!

Bill

‘The credit boom is built on the sands of banknotes and deposits. It must collapse. If the credit expansion is not stopped in time, the boom turns into the crack-up boom; the flight into real values begins, and the whole monetary system founders.’ Ludwig von Mises. (1881-1973). Human Action, 1949.

‘Debt is the slavery of the free.’ Publius Syrus. (50BC-    ).

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Jim/Bill

Last week the House approved raising the debt ceiling by $480 billion from 28,400,000,000,000 to 28,880,000,000,000.

One week later, today, we’ve already broken thru that to $28,894,000,000,000.

Half a trillion dollars is almost meaningless.

Think about that!

CIGA Wolfgang Rech

All Kabuki theatre for the masses Wolfgang…

House Approves Debt Limit Increase That Will Last Through Part Of December, Sends Bill To Biden

October 12, 2021
The House of Representatives on Tuesday approved legislation to raise the U.S. debt limit, the final legislative hurdle to averting a first-ever national default that was otherwise expected to occur next week.

The bill, passed by the Senate last week, now travels to President Joe Biden’s desk for his signature and enactment. He is expected to sign it later this week and likely Wednesday.

The legislation, which cleared the House with a party-line vote of 219-206, is the result of an agreement between congressional Democrats and Senate Minority Leader Mitch McConnell, R-Ky., and would extend the debt ceiling by $480 billion.

The current national debt is $28.4 trillion and would be permitted to rise to about $28.8 trillion.

More…

Jim/Bill,

We’ve all known that the massive accumulated debt in the U.S. (now nearly $29 trillion) is impossible to repay. The only way out is to inflate our debts away; make $29 trillion chump change.

When you print so much currency that a gallon of gas costs $1 trillion, think how easy it would be to pay off that debt.

Ridiculous? If that’s what you believe, then it behoove everyone to read about Weimar Germany (and other Latin and South American countries, as well as African nations) in the 1920’s.

You, and most other analysts have said this for years, but it’s worth reminding the general public who have their heads in the sand. It’s all so obvious, we are becoming blind to it.

Got Gold? If not, see what it could have done for all those unfortunate people. The central banks know. They are accumulating it hand over fist as we speak.

CIGA Wolfgang Rech

This has always been the plan W…

Bill

Why Interventionist Governments Love Inflation
October 19, 2021

Authored by Daniel Lacalle,

No government looking to massively expand its size in the economy and monetize a soaring deficit is going to act against rising prices, despite claiming the opposite.

One of the things that surprises citizens in Argentina or Turkey is that their populist governments always talk about the middle classes and helping the poor, yet inflation still soars, making everyone poorer.

More…