Why Everything You Buy Feels So Much More Expensive

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Dealing with the debt bomb. I know I’ve been talking about this for a long time. Hey, Markowski, Chicken Little, you’ve been talking about the problems with debt for years, decades here. We’re still here. Nothing’s blown up. Or has it? Why is this important? Well, again, you can go back and go back to the early 1970s. There was a an article that featured Uncle Sam with his pockets turned inside out. 1970.

1972, sounding the alarm about America going broke. Journal writes a piece today, says sounding the alarm about a debt crisis has been great for companies shilling gold coins and fishy financial products, but has made smart, sincere people look silly when nothing happened. Financial markets equivalent of Y2K. No, No, no, no, nothing happened with Y2K. I get that.

but don’t tell me nothing has happened with our fiscal situation. It has. You take a look at the cost of living here in the United States. Have you taken a look at what has happened to, as far as families are concerned, the fact that now it’s commonplace, both parents working, that wasn’t,

always the case. Why is it that salaries haven’t gone anywhere? Well, that’s because of a debt bomb. See, when people think of debt bomb, they think big explosion. Oh my God, the country’s going down. It’s going to be a disaster. Maybe not. Maybe it’s maybe it’s a different type of bomb. It’s a bomb that’s been going off and

I guess it just hits people little by little. Yeah, I get that comparison before they always talk about, you know, putting a frog in a, you know, a pot of water and slowly but surely turning the heat up till it dies doesn’t know to get out. Anyway, why are why are all sorts of people now all of a sudden, you know, financial guys getting worried about this and they’re saying the math is getting daunting.

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with interest rate on the debt blowing past one trillion annually and Washington acting recklessly. Even people who have issued pass warnings deserve a second or third or fourth hearing. Hedge fund manager Ray Dalio, and he’s selling a book, you know, How Countries Go Broke. Again, he doesn’t need royalties from a book. He’s quite well, you know, and he’s he’s given us a few years to deal with this.

Peter Orzag wrote a piece in The New York Times. And again, we talked about it here on the podcast. I even admit, oh, you know, I wasn’t so sure about this debt thing when I was in charge of OMB. And I’m like, really? You’re in charge of OMB and you’re not considered about, you know, making the numbers actually work. And I would go on and on down list. Jamie Dimon, this is not a situation we can continue to have.

And when you have various different Republicans come out and say, it’s the CBO, they’re just not nice. They’re not giving us our fair due when it comes to growth. How about this? How about this? How about this? How about we say this? How about we say, you know what, you’re right. You’re right, the CBO, they’re wrong. They’re not taking growth into consideration. And you know what? We’ll just go with their numbers. We’ll be conservative.

We’ll be truly conservative. And guess what? When all of this extra money comes in, you know what? We’ll apply it to our national debt. And we’ll knock our debt down. How about that? Oh, you can’t make any cuts anywhere? You can’t find anything? President of the United States comes out today hammering Rand Paul. Ah, people in Kentucky hate him. Yeah, just like they hate Thomas Massey too. Ah, loser. Yeah. OK. Right.

Ah, not offering any solutions. He’s offering plenty of solutions. We’ve all offered a zillion solutions, Mr. President, in regards to where you need to cut. You’re just unwilling to do it. You’re unwilling to make those difficult choices that need to be made. Hands off Medicaid! Are you out of your mind? Do you guys have any idea how much Medicaid expenditures have gone up since COVID? Oh, yeah, yeah, yeah, yeah. I printed up the chart here somewhere.

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I began, I’ll find it. It’s some ridiculous, not like close to $300 billion. Close to $300 billion. It was at, I mean, you’re talking like 600 billion to close to 900 billion in just a few years and you’re telling me that something’s not wrong here? Well, our nation’s gotten that poor. Nobody can handle healthcare. Healthcare expenditures have gotten that high. give me a break.

Okay, sometimes at some point in time, we need the adults to step up and actually do what is necessary. That’s what true leadership is. True leadership is not telling people and giving people exactly what they want. It’s doing what needs to be done. Watchdogonwallstreet.com.