Nancy and Chuck. The Old White Guy who adds and subtracts says it is an impossibility in California. We have neither income nor capability.
And, unbelievable to her constituents, they 'been there, done that', and the interest charges are fearsome. Remember, we just went through a three year period in which mortgage rates doubled Prior to that we had the Obamacare tax shocks of a lifetime. Prior to that, the run up in gas prices as we stimulated. This crowd has seen it, a complete sequence of tricks, the loop is priced and closing.
We fully expect to add on to the bill, like the following for: teachers and renters and unions and multiculturalists. A huge pack of Dems fighting for a spot in line, each having their own 50 billion dollar goodie. Scare the shit out of the voter, really.
Lease out the right to coin and the white guys can fix things.
As an Old White Man in the mix, and redneck when I want, I have advice. Get a 15 year number and go to MMT meeting. Do your 'right to coin' on 15 year intervals instead of 2.
Your number specifies the amount of federal debt you want burnt over 15 years. We agree to a simple non profit Fed rule: Keep the one sigma price variation at 3%, and price entry and exit to keep a stable crowd. Otherwise fair trade loans to deposits and post currency losses. Congress agrees Fed may allow government S/L accounts, in general.
If Congress reneges, the court vacates the contract and bonds transferred. But Congress will agree, always, as they are clearly better off with government accounts on cash flow and more debt to default. Waiting for renewal will always be the best option.
Finance will love this, government much more efficient, almost a point more efficient every year, for sometime. But all the government price fixes and guarantees will be no good beyond five years or so, there is no natural accommodation, G competes fairly with I. Spectral containment, any change over the period will not pay for itself.
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