(👆Listen to audio version of me reading)
No responsibility
Not sure where the disconnect is and why people think they can just spend out your eyeballs and have no consequences?
Academia? Government run schools? Media? Government itself? A lack of God?
As Ayn Rand stated, “We can ignore reality, but we cannot ignore the consequences of ignoring reality.”
However, there are several possible solutions that could help address the issue from the government persecutive:
Increase revenue: The US government could increase revenue through tax reforms or introducing new taxes such as a wealth tax. However, this may face resistance from those who argue that it would stifle economic growth.
Cut spending: The government could cut spending in areas such as military spending, entitlement programs, and foreign aid. However, this may also face resistance from those who argue that it would hurt those who rely on those programs.
Stimulate economic growth: A growing economy can increase revenue through increased taxes and reduce debt as a percentage of GDP. Policies such as deregulation and incentives for businesses could stimulate economic growth.
Implement austerity measures: This could involve both reducing government spending and increasing taxes to reduce the debt. However, this could also have negative impacts on the economy and may be unpopular.
Inflation (Currency Printing): Inflation could reduce the value of the debt over time, but it could also negatively impact the economy by hurting savers and those who hold dollars.
Debt restructuring: This involves restructuring or renegotiating the terms of the debt, such as extending the repayment period or reducing the interest rate. However, this may damage the country's credit rating or lead to war.
Ultimately, a combination of these solutions may be necessary to address the US debt problem.
If it were up to me, I would be cutting spending in all areas and stimulating economic growth by cutting taxes and regulations.
History has shown this is a beautiful way to spur tax revenue for the government and unleash the power of the American producer which then benefits all consumers with a higher standard of living.
When there is more wealth being made you can bring in even more taxes.
Unfortunately, governments are not in the game of “doing the right thing.”
They are in the game of doing what is “best for them.”
Seemingly their agenda goes against humans in general and especially the middle class.
The “useless eaters” must be culled as we have spoken about before.
This is why you see so many non-sensical policies that fly in the face of common sense and increase citizens dependency on the state.
So the path the government will take will be financial repression.
Government will try to have their cake and eat it too.
They will try to print their way out of it and this is for 3 major reasons:
They don’t need to ask anyone or get a vote on currency printing.
This gives them more spending power and they get to impoverish and create more dependency on the state for the average voter.
They also get to devalue the dollar which keeps the dollar competitive around the world for trade (see: Triffin Dilemma)
Financial repression is the name of the game.
Ben Bernanke showed us the path and the IMF has written as much.
Higher prices over time as the governments and central banks will most likely raise their inflation targets and try to claim victory at the same time.
This is why we prepare for the likely outcome of printing currency and inflation.
Do you own assets that can protect from this?
Are you building in a system for your children that gives them a life outside of this corrupt system?
If we hedge the inflationary fiat system with assets we will do well and we will be there to pick up the pieces of this system and build it new.
I talk about bitcoin because if you had a solution to fixing all of these problems, would you spread the discovery around?
In a deflationary money world, people will be able to save and not be hedge fund managers and get ahead in life.
Now, what we have is a race to the bottom.
We cannot fix the current system from the current reality.
Doing the same thing over and over and hoping a different candidate will win etc and expecting a different result would be insanity, no?
Time to build the future we want to see. Fix the money first or the politics and voting is just theater.
Stay strong,