Massive Money Printing Will Accelerate as Debt Soars
2024-02-19
The U.S. federal government published a December deficit of $129 billion, up 52% from the previous year. The private sector recession is clear as expenses continue to rise while tax receipts decline. If we look at the period between October and December 2023, the deficit ballooned to a staggering $510 billion.
You may remember that the Biden administration expected a significant deficit reduction from its tax increases and the expected benefits of its Inflation Reduction Act.
What Americans got was a massive deficit and persistent inflation. According to Moody’s chief economist, Mark Zandi, the entire disinflation process seen in the past years comes from exogenous factors such as “fading fallout from the global pandemic on global supply chains and labor markets, and the Russian War in
America the Obese: How Taxpayers Are Forced to Ruin Their Health
2023-11-18
The first piece of legislation passed by the new Congress of the United States of America after the ratification of the Constitution included a tariff on the import of foreign sugar. Although this tariff was passed as a means to raise the funds needed to pay the debts accrued during the Revolutionary War, coincidentally it also provided elaborate protections to the nation’s wealthiest farmers of sugarcane and sugar beets.
The indirect subsidies afforded to the sugar producers by the Tariff Act of 1789 have been reapproved and signed, now via the Farm Bill, every five years by every available president up to and including Donald J. Trump. For more than two hundred years, these sugar producers in America have been able to sell their product at prices higher than what the market would