Wednesday , April 30 2025
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Is it me? Am I screwed up?

Summary:
I don’t get all the celebrations over cutting fraud and waste.

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I don’t get all the celebrations over cutting fraud and waste.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

24 comments

  1. They are shutting down the Democrats.

  2. @Heimir_the_Fool

    It took the better part of 50 years to get to this point. It's gonna take several painful years to uncover the waste. Look …. DotGov doesn't have to worry about P&L therefore has no incentive to be efficient. There is zero accountability with taxpayer dollars. DC is full of grifters and slime bags which we already knew about, but now we have an outsider willing to take this monster on. We don't have an earning problem … we have a spending problem. Let's get that under control. I agree with you more than not, but we have to give this a shot. Additionally, I would like to fed / treasury to clear their accounts. Let's pay back that $36T right now and take on NO MORE DEBT. Talk about stimulus …. can you imagine $36T back back in circulation? That will get things going again!!

  3. The executive order that created the department of government efficiency doesn’t mention anything about fraud waste and abuse. It is about improving technical interoperability.

    • Elon Musk is literally out there fifty times a day talking about how they are cracking down on fraud, waste and abuse. He's bragging about it.

  4. First time I’ve heard an MMT economist talk about “paying for” shit with taxes!

  5. George Carlin said it best. "America is a melting pot. The scum rises to the top while the people at the bottom get burned

  6. Mike, Musk and Trump dont give a fuck about the avg US citizen. 0 , they are grifters and you've all been had! like the grifting wankers in the UK . time to pick up the pitch forks

  7. Make no mistake, we are entering the Golden Age. The Golden Age for whom is the question.

  8. Yes you are right!

  9. I don’t need to see anything back, as long as it is fixed going forward

    • If a thief stole your car and the cops caught the thief and found your car, you'd say, "No problem as long as it doesn't happen again," and you'd let the cops keep your car? Not me.

  10. You're getting a government that is auditable. Knowing how taxes are spent is an important feature of any large complex society.

  11. @davidleonard7874

    My thoughts are it’s good I believe that not a dime of fiscal flows has slowed down. I hear the same things you do on social media. When trump states we are no in the trillions of savings I’m left scratching my head. I do see firings but have have heard they are either still getting checks or they will get back pay in the future. The ones that have stayed on are now working overtime to cover the ones that were fired. Where is the savings in that? I get this information from the people I know that work at the local VA hospital/long term care facility. The ones I know that are still working are stressed out as hell. Not because they are working so much but for the veterans they serve are now not getting the care they need. Being a veteran myself I take this as very troublesome and see red.

  12. @francopelucci6627

    THERE IS A TIME TO WAIT AND A TIME TO BITCH ABOUT.

  13. @deanwilliams8733

    the whole system will be destroyed the communists are in their ear and telling them what's bad for the people is good for them and they are broadcasting it to the public. China is thriving bc they have in a big way adopted fdr type policy and here it`s conservatism and stagflation to bring the country down=ruin the dollar

  14. Kinda creepy Mike🤣🤣🤣🤣

  15. In the case of big visionary businesspeople like Elon it's basically a desire to get rid of all the government obstacles to his businesses and to make the lives of people a lot more precarious from whom he's going to hire his labor. He also has no idea how the economy works and that it's not like a single business. And the people who like what DOGE is doing are often locked in zero-sum-game thinking, meaning they think what they deserve but what they're not getting is gotten by the undeserving instead, and as soon as the undeserving stop getting it they will instead. It's as simple as that.

  16. yes your wrong. He is an efficiency expert, thats what his businesses are about. He is pretty much the USA's only hope.

  17. Mike, you are nailing this! You’re the only one calling this out. Keep it up!!

  18. @RichardWagenknecht

    Who’s in charge? Trump. That’s where the blame lies.

  19. You dont see the brilliance of musk? You need sunglasses to look at him… nah man, musk is the single most overrated person on the planet.

  20. These cuts along with the tariffs are a transfer of wealth, away from everyday Americans and into the pockets of the wealthiest people in the world. If government services get handed over to the private sector, you can bet they will run these services like a business, which means they will do anything and everything to maximize profits, delivering as little as possible to you and keeping the 'savings' for themselves. These services will no longer be for you, even though you paid for them with your taxes, they'll be a way for a few billionaires to hoard yet more money.

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