Thursday, May 28, 2020

David Stockman - Massive Stampede Into Real Money As Confidence in Keynesian Regime Evaporates

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Excerpt from this article:

"Federal Reserve Chairman Jerome Powell urged Congress and the Trump administration to put aside any concerns about the deficit and spend whatever it takes to stimulate the economy and combat coronavirus. The Federal Reserve previously announced it would make unlimited purchases of Treasury securities, thus encouraging Congress and the president to increase spending and debt. With some members of Congress talking about another multi-trillion dollar stimulus bill, and with President Trump proposing a two trillion dollar infrastructure plan as a  way to get Americans back to work, it is obvious, and not surprising, that Congress and President Trump gleefully agree with Powell's advice."
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Here are some quotes on our national debt:

"You know...if I had to borrow 40% of the money I need to pay my bills every month, I'd be fairly alarmed. When you come up a few bucks short at the end of the month for necessary bills, you can cut back: get rid of the cell phone, stop eating out, whatever. But when your monthly nut is routinely running to almost twice what you can pay, you're kind of out of options. It's probably time to re-examine your resistance to sleeping outdoors and pooping outdoors, and...well, doing everything else outdoors, because outdoors is where you're going to be living before long." (Source)

Constitutional scholar Mark Levin says:

"You should view these politicians with the deepest contempt you can possibly imagine. What they are doing to this country, what they are doing to our finances - there is not a criminal in any federal prison, state prison, city or county jail with respect to financial crimes of any sort who collectively could have done the kind of damage that Barack Obama and Harry Reid and Nancy Pelosi and yes, willing, timid, gutless Republicans have done to this country! To your future, to your children and your grandchildren. What they are doing is with malice and with forethought."  (Source)

How I Found Christ?

 How I Found Christ? by Charles Spurgeon (1834-1892)