Good article. Can you imagine the impact interest rate normalization would have on housing, not to mention several other sectors? Even if it is horrible on a short-term basis it is probably the best approach because it shows responsibility and would ease some of the concern of major T-bill holders. It would also increase the payments received by the T-bill holders.
Let's face it - the government is bloated. I could easily see 10% across-the-board cuts at every agency. Instead of seeking to lower the number of federal employees, the government continually hires more folks. Some of them are real quality folks - like the higher-up at Dept of Energy who got caught stealing the luggage of women two or three times. We need to decrease the number of employees AND decrease their non-payroll budgets.
Dimon keeps saying it - and as you have noted he has said it several times lately - I just don't believe more people are not picking up on it. He is giving us a pretty clear warning of Danger Will Robinson! Danger! Some of the older folks here will remember that one. I don't buy the analogy made between the national debt and household debt.
Let's look at several things - they are moving forward with their attempt to compromise the US much like they have done in Europe by financing our invasion with people from less fortunate countries all at one time. Our own tax money is funding their transportation (via non-govnermental orgainzations), communications (cell phones) and petty cash (debit cards with a few thousand on each card). They will settle in and soak up whatever scant extra resources there are. The medical system - already broke - will go completely bust having to treat everyone. Food stamps, public housing, public school where there will have to be additional people hired to teach them in their own language - a huge amount of money. Meanwhile, we keep throwing money out the window on Ukraine paying the salaries and pensions of their government employees and continue to finance other countries who are pursuing a genocide strategy in dealing with a group of terrorists they themselves created. 10 or 15 million people in the US receive social security disability. Some legitimately need it, many others do not. More wasted money. Corporate welfare - more wasted money. The carbon scam - more wasted money. 100 million dollar fighter jets than can't fly in stormy weather - more wasted money. EV cars that don't work in cold weather and cause HUGE losses at car companies - more wasted money. Will taxpayers have to bail out GM again? I can go on and on. We need to trim all this stuff. Change the ethos of the country back to what it used to be. Get rid of the teachers in public schools who are too busy brainwashing kids and not busy enough teaching them reading, writing, arithmetic and patriotism. Stop coddling kids (and adults) with mental illness who identify as furries (animals). Stop doing absolutely silly things like putting kitty litter boxes in the bathrooms, tampon dispensers in the boys bathrooms, letting boys shower in the girls locker room, letting males compete in female sports - particularly in boxing, MMA, etc. where a real danger exists to the female competitor. Don't have books depicting sex acts in the library for kids in grades 1 to 4 to review. They can learn all about that in health class later on in their schooling. So much needs correction. Hopefully we can do it!
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