Is Big Gov Lying About Our Economic Crisis?

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The Federal Reserve has no close. Yeah, I’ve, I’ve often used that. Emperor has no clothes. Hans Christian Anderson from time to time. Sub-reference here on the program. Well, how about that kids? The Federal Reserve comes out lowers by 50 basis points and wow, crash bang boom. Interest rates go up.

The mortgage rates, mortgage up near 7 % right now. How could that happen? I built in Jim Cramer telling us that the Federal Reserve, they’re just geniuses over there. Yeah, they don’t have any clothes. They don’t have the type of power that they used to have.

If you’re taking a look, and again, this is not just here. You can take a look globally. We’ve got a bit of a debt problem. A bit of a debt problem, not just here in the United States. It’s everywhere. I was looking at China. China’s debt to GDP ratio is at over 360%. 360 % since the…

Since 2008, it’s doubled. You want to kind of put this into perspective. For every unit of GDP in China, they have 3.6 units of debt burden. Holy shnikes. And again, we’re running into those problems here. What does this all mean? What’s taken place?

I years ago, years ago, you know, we talked about and wrote about great length what took place during the whole European debt crisis with Greece, Italy, Portugal, Spain. And there was a really funny Saturday Night Live skit. And I highly recommend it that they did back. was back in 2011 while this was taking place. in it, Zeus.

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summons all the Greek gods to Mount Olympus to solve the economic crisis. And Zeus is very surprised that Greece has fallen into such a disastrous state because, and he says, this is a quote, a line, as we all know, the Greeks are widely known as hardworking, industrious people, a people willing to labor week in, week out, three days a week, one hour a day until the age of 45. Now Zeus has taken it back that they have two gods of war, but no god of finance.

Dionysus, the god of wine or partying, tells Zeus that they have the spending part of the economy down cold, but saving not so much. Zeus then is forced to summon Claus, the German god of prudence and austerity, who tells the Greeks that he will give the Greeks the money if they are responsible and make cutbacks. Claus’s message is greeted with a chorus of boos from the Greek gods. Zeus then proceeds to tell Claus, sorry, Claus, either give us the money or we’ll take all of Europe down with us.

We started democracy, we can end it. It was a bit of a funny skit. And again, what made it so funny is there was an element of truth to it. We are right now, we got election coming up where we have two candidates who could give, I’m gonna be honest, could give a rat’s ass. Rat’s ass about our national debt. They don’t care about spending.

do I have faith that, Donald Trump is going to utilize Elon Musk, to bring austerity to the United States government? No, I do not. I do not. lot of conversation right now talking about everybody’s tax plans. And again, I, listen, I don’t like paying high taxes. I don’t. but I do understand that.

You know, with all of these gimmicks, because the people I’m sorry. And I got a lot of super Trumpsters listening to this. I don’t want to hear it, which is unfortunate. You go through life with blinders on many of these things that these politicians putting out there are just that they’re just gimmicks. Now, now, what was it? The people who are firefighters and police officers, first responders, not going to pay income taxes. Now, listen.

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Again, you’re trying to get, he’s pandering for votes. It’s just that simple. All of these tax plans and all these things are put forward. There’s no way, shape, matter, or form that these things are gonna pass unless, at least Donald Trump’s ones are not gonna pass unless the Republicans have the House and have the Senate. And even if that’s the case, I find it very, very, very, very, very, very hard to believe that

Any of this stuff is going to go through. Republicans had the presidency, the House and the Senate, and they told you they were going to repeal and replace Obamacare, and they didn’t do that either.

Again, do we need to shrink the size of government? Do we need to have cuts? Yes. And again, I’m all for tax cuts. But I’m sorry, okay? The math is not there. We cannot, there’s no way we are going to tariff our way, tariff our way to get our national debt down, to having a balanced budget. It’s just not going to happen. Nor do I believe that we’re gonna see the type of economic growth

the economic growth that we’re gonna grow our way out of our fiscal situation. What is essentially what’s keeping us afloat right now, why we’re not having a full blown debt crisis like took place in Europe at that point in time, is that the rest of the world quite frankly is in a much worse boat than us.

Much worse, but China’s in a worse, but Europe forget it. We talked about that here on the program. They haven’t grown in ages. The only thing that they can do at this point in time is try to regulate the United States. They don’t really do much of anything over there. There’s conversation out there. They talk about, know, people are gonna move away from the dollar. No, that hasn’t been true. We’ve been told that for a long time. Told that for a long time. In fact,

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There was a bit of that I mentioned this before. There was the second Daniel Craig James Bond movie, Quantum of Solace. There was, I remember it was they made a point of that. I don’t want to get paid in dollars. I wanted to get paid in euros. Well, let me tell you something. As far as trade is concerned, euros have gone backwards. Dollars are used now more than they were back in 2008 at that point in time.

That’s keeping us going, but what’s also hurting us as well, and this is the reality. People, we talked about the fact that if you spend, borrow, and print, you continue to reduce the value of the dollar. And again, everyone’s currencies are dropping. I get all that. But unless you’re keeping up, unless your salary is exceeding,

exceeding the rate that the value of what you’re getting paid is dropping, well then guess what? You’re going backwards. And many people in this country, they feel it. Two steps forward, three steps back. Two steps forward, three steps back. You’re going backwards. You’re not moving forward. Watchdog on wallstreet.com.