Wednesday, February 20, 2019

Andrew Miller — Deficit Spending Is Destroying America

Despite what proponents of modern monetary theory say, America’s current rate of deficit spending is already undermining faith in the dollar as a reserve currency. That is why so many nations are starting to slowly dump their dollar reserves and buy gold. As the dollar loses its reserve currency status, the U.S. will lose its ability to print and borrow money without experiencing runaway inflation. Decades of budgetary mismanagement will catch up with the nation, allowing other nations to usurp its position of economic dominance.
The late Herbert W. Armstrong predicted that a massive financial crisis in America would lead to a catalyst prompting the nations of Europe to unite into a superstate. Specifically, he warned in 1984 that a massive banking crisis in America “could suddenly result in triggering European nations to unite as a new world power larger than either the Soviet Union or the U.S.” Mr. Armstrong based this prediction partly on financial conditions in America, but primarily upon Bible prophecy....
For a full picture of why God is allowing such a dramatic calamity to come upon the U.S., read The United States and Britain in Prophecy, by Herbert W. Armstrong.…
The antidote to MMT as the work of the devil.

"If they ignore you, then they attack you.…" I guess.

The Trumpet
Deficit Spending Is Destroying America: Current radical liberal economic ideas are not as unprecedented as you might think.
Andrew Miller

Another goodie.
Printing money combined with high tax rates is a looming reality that has the potential to ignite a major move in the Dollar and crypto.
Today, the Dollar Index ETF (UUP) has rolled over and is likely forming a head and shoulders top formation (Figure 1). Gold is ripping higher (not shown). Total crypto market cap has reached a massive inflection point from two different Fibonacci tools (Figure 2). The implication of this analysis is that total crypto market cap can accelerate as it climbs higher.
Crypto IQ
Dollar Down Move and Total Crypto Market Cap: The Unseen Obvious
Bill Noble


Konrad said...

"America’s current rate of deficit spending is already undermining faith in the dollar as a reserve currency."

No. America's imperialist sanctions on more and more nations are undermining faith in the dollar as a reserve currency.

This moron is an Evangelical Christian -- but I repeat myself.

Konrad said...



That’s how neoliberals define socialism. At the federal level this is a lie, since the US government creates its spending money out of thin air.

The greatest thieves of OTHER PEOPLE’S MONEY are neoliberals. As you know, cash-starved New Yorkers recently defeated Amazon’s demand for $3 billion in return for constructing a facility in Long Island City, which neighbors New York City.

New Yorkers would have had to borrow that $3 billion, which means they would have ended up paying $6 billion overall to make Jeff Bezos richer than ever. Amazon is America's most profitable company, and last year paid zero taxes on $12 billion in profits. And still Bezos demanded $3 billion of OTHER PEOPLE’S MONEY.

When New Yorkers defeated Bezos, they infuriated right-wingers and Fox News. A neoliberal cabal called the “Job Creators Network” has put up a billboard in Times Square, scolding the peasants about the supposed loss of millions and millions of jobs (each with an average salary of $150,000 !!!!) and billions and billions in boosts to the NYC economy. They claim that 99.9% of New Yorkers wanted Amazon’s facility. They are blaming their defeat on “socialism” plus Alexandria Ocasio-Cortez (even though AOC had nothing to do with this).

In response, Alexandria Ocasio-Cortez tweeted, “The fact that the billboard is in Times Squares tells you it’s not for or by New Yorkers.”

She meant that only tourists from out-of-town go to Times Square.

Neoliberal Democrats are likewise furious, e.g. New York State governor Andrew Cuomo, and New York City mayor Bill de Blasio. They are crying that Jeff Bezos, the richest man in world history, didn’t manage to steal $3 billion of OTHER PEOPLE’S MONEY.

At least, not in New York.