| By Emma Walsh, Managing Editor, Bill Bonner's Diary A quick glance at the top-line numbers in its budget show that the U.S. government is flat broke. In simple terms, it is spending more than it is taking in. Yet, it continues to behave as if money is no object. Of course, with the printing press at their disposal, the feds believe they can solve all the country’s woes. Money no object, they say. But what will happen when the printing press inevitably breaks down? Regards, Emma Walsh
Managing Editor, Bill Bonner’s Diary
 | Prisoners of Yesterday
Presidents do not make economies work. They have very little effect on them. Their economic success or failure is almost entirely a consequence of what came before them. And the important policies are decided by insiders… the Enlightened Elite Establishment – no matter who sits in the Oval Office. | |
 | On the Beach in the Second Plague Year
Bill is adjusting to life in the slow lane. His days have developed a kind of “delicious monotony” only possible when you live by a beach. Today, he takes us on an early-morning stroll along the beach by his house, Playa Los Perros, where he watches the local fishermen at work. | |
 | The Big Girl Wakes Up
The U.S. economy continues to struggle to recover from the coronavirus pandemic. Meanwhile, the Chinese economy goes from strength to strength. And China continues to gain ground against the U.S. | |
 | The U.S. Government Is Flat Broke
The U.S. government is holding its finances together – with printing-press money. And the more it prints, the worse the next crisis will be. But they’ve gone so far down the road now, it’s “inflate or die.” | |
 | Peak Lunacy?
Today, Bill questions the sanity of the companies investing their cash reserves in bitcoin. Is it a genuine investment move… or a publicity stunt? Or is it just another of the weird and wacky results of the feds’ printing-press madness? | |
 | Who Will Bail Out the U.S. Government?
Tom Dyson says the U.S. government is in the most stretched financial position of any entity in history. The only way it can service its existing debt is by adding more and more new debt. This situation is unsustainable. So, he asks, who will bail out the U.S. government? | | Like what you’re reading? Send your thoughts to feedback@rogueeconomics.com.
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