With a big grin, former colleague Doug Casey told me, “Sure, you can trust the government!” I raised my eyebrows. He continued. “In the event of a crisis, you can not only trust the government to NOT do the right thing but also to do the exact wrong thing.”
Remember the Karma law of Humility; “You can’t change something if you refuse to accept it.” Accept the truth about government and you can reduce the frustration of trying to change what cannot be changed.
Chuck Butler shared a quote about the entire charade:
“Biden and McCarthy are set to resume “Debt Ceiling” talks.
It’s all Kabuki theater, because whatever they “agree” on…. Out-of-control money printing and insane spending will continue.
And the destruction of the US dollar will continue. …. And it’s clear the worst financial disaster in history is upon us.”
Dictionary.com defines Kabuki theatre:
“The word kabuki combines the Japanese words ka (“song”), bu (“dance”), and ki (“skill”).
…. The phrase…is used in political discourse to describe an event characterized more by showmanship than by content.”
Insane spending….
Wolf Richter explains the never-ending song and dance:
“Periodically, we get to watch our favorite farce, played out in Washington DC in front of a bedazzled world, a product of true creative genius that only American politicians could ever come up with: the Debt Ceiling Farce. This one is the Debt Ceiling Farce of 2023. We’re (at)…the point where the plot starts getting funny.
…. The ending of the farce is already known: Congress will agree on a deal at the last minute, as it has done around 79 times since 1960, and seven times over the past decade.
…. It’s a farce because Congress already appropriated the funds to be spent, telling the Administration in detail via legislation how to spend those funds, and then Congress tells the Administration that it cannot borrow the funds that Congress told it to spend. This whole process is accompanied by all kinds of hilarious rhetoric for the entertainment of us all.”
It’s really NOT FUNNY. Our government continues insane spending, borrowing to make up the shortfall. Major creditors, China, Russia, and Japan stopped lending us money; reducing their debt holdings. What happens when our credit runs dry?
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