Good morning, all. This newsletter is apocalyptic, no doubt. In the past, I would have scoffed at this newsletter as being wildly pessimistic. But not nowadays. It doesn't mean that I agree with it, only that it might be true.
As the most recent example is the debt limit negotiations. They broke down over the weekend, as it looks as if there was no real intention to reduce the deficit after all. The cuts were all in the out years, which can not bind any future Congress. If the Democrats return, they will just cancel out all the cuts, leaving the new taxes in place. I agree with the Republicans. They needed much deeper cuts than these, plus caps and an amendment, before there is any consideration for a tax increase.
The result of this impasse will lead to who knows where. If there is no deal at all, there could be a constitutional crisis if the Democrats make good their promise to disregard the debt. If they do not, there will be massive cuts in spending, so that the Democrats will blame the Republicans for that real pain to come. This could lead to the Democrats returning. Either way, the debt issue will not get resolved. The Democrats can't, because that's where their power is. On the other hand, low taxes and small government is where the base is for the Republicans. This is an impasse and it must be resolved somehow. Time will tell how that works out, but it is not looking good.
In the meantime, conditions will begin to detioriate.
As always, the link to Chris' newsletter can be found in the products section. It is a paid service.
Intro
Change? I’ll give you some effen change buddy!
It happens very fast, now
The Malthus crisis
Must win
The collapsing ring
The century of survival
USA made a big mistake
History’s end
Totally oblivious
World banking crisis on threshold
Prices for next week:
No comments:
Post a Comment