The year 238 AD began with Maximinus I as Emperor of Rome– a former peasant who had worked his way up through the ranks of the military before being chosen as Emperor by his troops.
By August of that year, Maximinus was dead, and five other men had briefly held the title of Emperor. Only one (Gordian III) was still alive by the end of 238 AD.
Continue reading “Dominant superpowers don’t accumulate $30 trillion in debt”
(Image: US national debt holdings as of 2018)
America’s debt surpassed the $30 trillion mark for the first time and there is no intention of paying it back. “We’re on an unsustainable path,” Federal Reserve Chairman Powell told lawmakers in January. “Debt is not at an unsustainable level, but the path is unsustainable — meaning it’s growing faster than the economy, meaningfully faster than the economy. We have to address that over time. We will address it over time. And the better way to do it is soon.”
According to the Treasury Department, outstanding debt jumped from $19.9 trillion when Trump took office in January 2017, and rose to $27.8 trillion when Biden took over in January 2021. Unexpected expenses due to the coronavirus added a massive amount of debt to the balance sheet. Still, politicians wish to continue spending to fund the Build Back Better agenda. “The debt puts an unbelievable burden on future generations of Americans. Congress cannot wait! We must take action now to get America’s fiscal house in order,” said Rep. Lloyd Smucker of Pennsylvania.
Click on the clock above to view the US national debt rise in real-time.
Earlier today we reported that for the first time ever, total US debt surpassed $30 trillion, and rising exponentially because at this point there is no way on earth this number will ever be contained, let alone drop contrary to the naive dreams of clueless politicians:
Since these numbers are simply too big for most to comprehend, here is a helpful visualization for what we are talking about courtesy of Demonocracy.info.
Continue reading “America’s $30 Trillion Debt In One Stunning Visualization”
The U.S. economy teeters between two catastrophes: wild and untamed hyperinflation that turns cash into wallpaper, or an epic crash that would make 2008 look like a day at the beach. Federal Reserve Chairman Jerome Powell has led the U.S. government’s monetary policy to this point.
Now he’s attempting a nearly impossible feat…
He will need to thread the needle between the two economic disasters, between the frying pan and the fire, to return the U.S. economy to any form of sustainable prosperity.
Is that kind of miracle even possible?
We will start with the obvious issue: December’s inflation report of 7% year-over-year price increases. That’s at the end an entire year where inflation rose steadily for eleven of twelve months. August, the exception, saw a 0.1% decline.
In addition, what Powell endlessly assured us was merely “transitory” inflation, a “blip,” caused by “supply chain snarls” and so on? It’s the highest we’ve seen in 40 years.
Continue reading “Fed Chair Faces the Ultimate Lose-Lose Decision”