| By Bill Bonner Tuesday, January 19, 2021 The minute you walked in the joint I could see you were a man of distinction A real big spender Good looking, so refined Say, wouldn’t you like to know what’s going on in my mind? – Big Spender, by Shirley Bassey WEST RIVER, MARYLAND – Here’s the nation’s new go-to person for everything that concerns money. Reuters reports: Janet Yellen, U.S. President-elect Joe Biden’s nominee to run the Treasury Department, will tell the Senate Finance Committee on Tuesday that the government must “act big” with its next coronavirus relief package. “I believe the benefits will far outweigh the costs, especially if we care about helping people who have been struggling for a very long time,” she said in the statement, which was obtained by Reuters. Who are these people who have been struggling? American household income (thanks to the feds’ bailouts and giveaways) was at its highest point ever last year – with $1 trillion more in earnings than the year before. And we need not remind dear readers that the U.S. government is broke – with a $2 trillion deficit already on the books. | Recommended Link | Attend Teeka Tiwari's First Event of 2021 for $0 On Wednesday, January 27th… a small group of people will be exposed to an IPO tech deal that could potentially change their lives – overnight. And Wall Street legend Teeka wants to see you there. RSVP now to join Teeka Tiwari for FREEDOM 2021, his first online event of the year. | | | | Acting Stupid But acting “big” is rarely the same as acting smart. In this context, it means acting stupid. There are two important tasks for an American president. He is meant to protect Americans’ freedom and their wealth. Everything else is detail. But already, the incoming jefe is promising to squander more of both. (I’ll come back to how he will squander Americans’ freedom later in the week...) But hey… give the guy a chance. It’s his turn! [Featured: Stock Options are DEAD! "Penny Trades" have WON…] Donald Trump acted “big,” too. He set a record for wasting wealth – with the largest budget increases in history. He followed Barack Obama, who was no slouch at dissipation either; he added $8.5 trillion to the national debt during his eight-year term, a 73% increase. He also put in place the “Obamacare” plan, an open-ended “entitlement” that is sure to bankrupt the country as Americans grow older. Then, of course, there was George W. Bush, whose “big” act was the wacky War on Terror. It will cost $7 trillion. (We’ll get to his “Patriot Act” later this week, when we look at the loss of freedom I alluded to above.) | Recommended Link | | What is this pile of cash doing here? Do you see this pile of cash? That’s how much it would cost you to buy one share each of Apple, Amazon, Google, and Tesla. Why bother? When you could profit off the growth of those same companies – and the tech bull market overall… For just $3. | | | -- | Act Bigger But Mr. Biden seems to want to act bigger than any president before him. That is, he wants to out-retard them all. This is not necessarily his fault. You get to Hell one step at a time. The road is well trod and he’s already far along. All he has to do is keep walking. One foot after the other. Left after right. A is followed by B… It doesn’t matter who does the hauling. The ankle bone is connected to the shin bone… And when you’ve got an aging, degenerate empire… led by an aging Deep State hack… what do you expect? [Featured: This one stock could be a game changer for you] Permanent Stimulus And, by the way, the American people will whoop and holler… lining up behind him like a yahoo mob going to watch an execution. Then, thanks to the hard work of the public schools and the mainstream media – two pillars of the Elite Establishment – the poor knuckleheads will gladly salute their own firing squad. Look at this, reported by MassLive.com: Nearly two-thirds of Americans are on board with a progressive proposal – backed by some Massachusetts lawmakers – calling on the federal government to cut monthly $2,000 stimulus checks to Americans over the course of the COVID-19 pandemic, a new poll shows. Data for Progress, a progressive polling and advocacy group, asked 1,166 likely voters across the country last week if they’d support or oppose the idea of a “$2,000 per month direct cash payment to every person for the duration of the pandemic.” Sixty-five percent of respondents say they’d support recurring $2,000 checks, an idea still advocated by Sens. Ed Markey and Bernie Sanders, who along with Vice President-elect Kamala Harris proposed a bill for monthly checks back in May. Forty-one percent of respondents “strongly support” the idea, while 24% “somewhat support” it. Note that this is not a one-time “stimulus” of $2,000 they are calling for, but MONTHLY checks… a permanent stimulus plan. It would function as a kind of monetary pacemaker… giving consumers a jolt every month just to keep their greedy little hearts pumping. Does anyone ask, “Where will the money come from?” Does anyone worry about the expanding federal deficits… or the tilting tower of debt? No? Why not? Because they don’t have to. | Recommended Link | | BUY NOW! Jeff Brown picked the #1 tech stock of: Will THIS be his #1 pick of 2021? | | | -- | Something for Nothing That is the wonderful magic of the post-1971 money system. It corrupts federal spending… It distorts and weakens the economy… And it also eats away at the brain. The Federal Reserve has multiplied its balance sheet (the foundation of America’s money supply) by nearly 10 times so far this century. That is what paid (indirectly) for the War on Terror… Obama’s debt… the Wall Street boom… Trump’s tax cuts… and the COVID-19 “relief” boondoggles. And now, brains all across the country are abuzz about the great things coming down the pike. “Something for nothing” is no longer a joke; it’s a fact of life. People expect to get a free lunch every day. And $2,000 a month will soon seem miserly. Regards, Bill
Like what you’re reading? Send your thoughts to feedback@rogueeconomics.com.
FEATURED READ Discovering Happiness and Health
In 2018, in a last-ditch attempt to find a cure for his depression, colleague Tom Dyson left everything – his job, his family, his apartment – behind and hit the road. He also put all of his savings into one investment strategy. Read on here to find out more… Yellen to Tell Senate Finance Committee to “Act Big”
According to her prepared remarks for her address this morning, incoming Treasury Secretary Janet Yellen will tell the Senate Finance Committee that low borrowing costs mean it’s time to “act big.” It’s all part of the sales pitch for Joe Biden’s $1.9 trillion COVID-19 relief plan. MAILBAG Dear readers write with feedback on Bill’s “Depressing Stimulus” Diary last week... I now wonder why I worked so hard and so many hours. I could have just waited for the government to give everything to me. – Miles F. The theory of stimulus is that the renter can now pay his rent. The landlord can pay his fuel bill and taxes. People can buy stuff (food, clothes, medicine). Jobs will appear because customers come back. Commerce restarts. Bill Bonner, do you have a better method for unsticking a frozen economy? That’s one lesson from the Great Depression of 1929. Give money to the people who will spend it immediately. That’s what restarts the economy, not tax cuts for corporations. – Dana We have reached the point of no return. Unemployment levels are at or near the depression levels of 1929. “Inflate or Die” appears to be the mantra followed by all. The only way out now is to impose a Biblical Jubilee, wiping all debt out and starting over. I hate to think we have come to that, but I would like to see, hear, and smell the alternative. We have passed the time of enacting a Constitutional Balanced Budget Amendment. – Terry B. What if the country is being bankrupted on purpose at the behest of the central bankers to usher in the new monetary system that is planned as “the great reset”? Japan has been running on a super-deficit for years. I guess they can keep kicking the can down the road for another while, but it seems that the bankers have something new planned for us in the next few years, maybe around 2025. – Mark C. Do you believe stimulus is the answer to America’s financial woes? Or do you think it’s all part of a planned “great reset,” as Mark C. suggests? Write us at feedback@rogueeconomics.com. IN CASE YOU MISSED IT… Millionaire's Big Prediction From Living Room Couch Teeka Tiwari – America's No. 1 Investor – has made an outrageous prediction. Recorded live from his living room couch... He blasts Congress, reveals nasty truths about America… And reveals one technology set to radically change our nation. Already, 400,000+ viewers have checked it out. WARNING: This video may make you furious. Watch His Urgent Video Now. 
Get Instant Access Click to read these free reports and automatically sign up for daily research. | 
No comments:
Post a Comment