by Summary:
Weeks ago I said if Elon wants to cut spending then he should cut interest payments. Kelton agreed.
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Weeks ago I said if Elon wants to cut spending then he should cut interest payments. Kelton agreed.
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
New Economics Foundation writes Is the Labour government delivering on its promises?
John Quiggin writes Dispensing with the US-centric financial system
New Economics Foundation writes Whose growth is it anyway?
Matias Vernengo writes What is heterodox economics?
| Weeks ago I said if Elon wants to cut spending then he should cut interest payments. Kelton agreed. |
So do you think Trump, Musk and Ramaswamy will get us back to living within our means?🤔
I think I see many dead people, who are now living within their means.
As one of your astute students, I disagree with you on 0% interest rates. Why?
– Wages stayed stagnant during the period of low interest rates
– 0% interest rates fueled speculation in housing. Builders didn’t use cheap money to build new homes
– We have an aging population. It is important to give elderly people the option of safe assets like treasury bonds above 4%+
– As the 10year bond flies above 4%+, I see more and more house for sale signs in my area. Something unimaginable a few months ago.
I believe people keep thinking that inflation is going up ( although it is the opposite) because they live somewhere and they are unable to keep up with their shelter costs.
What do we learn from our own history? Investors started selling their stocks in 1929 in anticipation of future tariffs to be implemented. Once passed in 1930, there were a shortage of dollars in the world thus leading to European ( German) banks failure who could not find dollars to service their loans. Unfortunately, the crisis spilled over to the 🇺🇸 and we know the consequences.
Tariffs will lead to a severe shortage of dollars around the world and we know that every single country ( even those who oppose the 🇺🇸) need them to service its debts.
I have a hard time understanding your viewpoint on tariffs
Since Trump started imposing tariffs on China, the Chinese economy isn’t doing as well as it used to 🤷♂️
Always love your stuff Mike !
Sorry I missed your question regarding the hunting rifle. I would have recommended a Mossberg Patriot 308 caliber, but yours is fine too 🙂
Tariff on Canadian oil, makes perfect sense.
Here's an axiom: Donald Trump is a blustering idiot, full of phony baloney.
Youre an idiot
Elon’s a big dummy
The videos are great Mike, I never miss one. Keep em up 👍
❤👁
30-06 great caliber. My sister has a 270 savage. She likes it. Did it come with glass? Im a huge fan of Elon for years and years his, book wrote by Ashley Vance was inspirational to say the least. However I was also concerned about his new role with govt finance. Thanks for the explanation. Great talk. Reposted on X:)
Just saw your account was suspended on X. What the heck is that all about?
Income distribution
Or
Debt distribution
The concerns I've heard about the tariffs is that it's going to be another grift, carving out exceptions for all the people giving Trump himself money and the attention he craves so much. Also that they basically represent a regressive tax on goods and services even the poorest need and buy, and then giving the subsidies etc. to his rich cronies instead. And that that will ultimately negatively effect the distribution and the velocity of money.
The whole nakedness of the corruption certainly turns the US into more of an oligarchy like Russia. And once a system is that way aligned the mafia don on top can do all sorts of stupid things if he's stupid, like invade another country, to the detriment of everyone, including all the business interests.
The whole tariffs thing also reminds me a bit of Brexit, really, where they promised it would make Britons richer while in reality it made everything more complicated.
I have to agree with the Elon thing. I always thought he was a genius, too. And when he then said, "scrap the whole 'Build Back Better' thing because it'll increase government debt," that's when I wondered whether maybe I was living in a simulation…
It's actually particularly in the resources context that Elon's remark shocked me so much. Renewable energy is going to be huge. The sun shines down in an hour what we consume in a year. Solar energy grows in tiny increments with an almost instantaneous return on investment, so you don't need to invest billions into it up front, like a nuclear power plant. It'll just grow. And grow and grow and grow and grow…
Regarding land, suddenly that entire American Southwest, where virtually nothing grows and few people live, is going to be fertile ground for electric energy production. I'll be covered by solar arrays as large as the corn fields of the Midwest eventually. We'll be consuming orders of magnitude more energy in a few decades than today. Than we ever did in human history.
Massive amounts of surplus energy means that producing clean water and getting it where it's needed is suddenly much easier. Giant desalination plants can be powered with all that PV. Water can be pumped uphill. Some areas may become entirely independent from natural precipitation.
The energy is intermittent, but from an investment point of view that only means battery manufacturing and raw materials extraction will likely be a license to print money for decades to come. So let's get in on that!
Build Back Better was all about encouraging the country to speed up the building out of renewable energy, and yet the genius EV Rocket Man suggested, "let's not do that because it'll increase government debt."
And then he gets in bed with the "windmills don't make power when the wind don't blow, and they may be giving you cancer" guy.
"Drill, baby, drill" is all good and fine (unless you're worried about climate change) but fossil fuels won't even come close to the massive amount of energy wind and solar are going to give us, by sheer growth potential alone. Sometimes it's like trying to explain to someone in the 1950s what the coming computer revolution is going to be like…
Stephanie also said the increase of interest rate rise the inflation. Minutes 20.20…https://www.youtube.com/watch?v=cyXfr11g7So&t=256s
hello, mike! happy Thanksgiving! wow, this musk moron has been bothersome for a while and i decided to visit you to see your opinion on this dog musk. im glad you mentioned spending cut being planned by this dog musk.
the amount of liquidity shock that this moron will cause, i predict it will be massive enough to collapse us equity. musk is genuis? lol i disagree, mike. you can already tell what outcome this moron will bring and still call him genuis somehow? ive never been impressed with any of his works and the dog musk is no where close to previous entrepreneurs like steve jobs.
anyway, the more important question is will trump actually take the doges advice and execute spending cut? hahaha its going to be interesting. trump actually might execute it and let musk cause the collapse. after that the only thing that trump has to do is blow off the doge poo and kick musk shit out of his administration to Mars. what a shitshow we can expect in the coming years. just unbelievable.