Rebane's Ruminations
August 2023
S M T W T F S
 12345
6789101112
13141516171819
20212223242526
2728293031  

ARCHIVES


OUR LINKS


YubaNet
White House Blog
Watts Up With That?
The Union
Sierra Thread
RL “Bob” Crabb
Barry Pruett Blog

[The chorus of financial mavens warning of the dollar’s destruction is growing.  The cost to just service our exploding national debt is unsustainable.  That means it’s growing so fast that it consumes an ever greater share of the federal budget AND the nation’s GDP.  Those people concerned with this financial collapse are advised to reinvest in gold, silver, and prominent crypto currencies.  Judging from past attempts to elicit discussion of this event, we have a very sanguine group of readers.  Quoting a famous man, “What, me worry?” gjr]

Posted in

224 responses to “Sandbox – 30aug23”

  1. Gregory Avatar
    Gregory

    “Those people concerned with this financial collapse are advised to reinvest in gold, silver, and prominent crypto currencies”
    And most of those doing the advising are selling various and sundry vehicles for avoidance, thus illustrating the Dilbert principle… that investing is mostly the act of giving money to your stockbroker who then buys nice things for their family.
    A lump free sandbox. Whooppee!

    Like

  2. Scott O Avatar

    re George’s and Gregory’s comments:
    And that becomes the bigger problem. As soon as enough people lose faith in the monetary system, they are no longer investing in ways that are productive (for the investor and the economy), but protective (for the investor).
    Will metals be a safe haven? What if they do a repeat from the 30s and fix the prices.
    Investing in real estate protects against a complete loss of your capital but you could still lose a lot and be stuck with a rise in insurance and prop tax costs.
    All the old sayings apply:
    It works until it doesn’t – it starts to fail slowly and then quickly – etc.
    I certainly don’t expect any actual solution from the feds. They’re not ever going to admit they were wrong.
    And the general public is clueless – most are totally convinced the “rich” have all the money and if we just take it from them it will fix everything.
    The national credit card is getting close to its limit and this isn’t the 50s or 60s so we shouldn’t count on getting a fresh one.
    All we really have left is the hope that China screws up worse than we do.
    The founding fathers gave us clear warning and we (collectively) ignored them.

    Like

  3. Don Bessee Avatar
    Don Bessee

    Just figuring that out –
    California Democrat frustrated by rising theft admits liberal crime bill was ‘big mistake’
    The San Mateo County Supervisor said residents have complained to him about California’s Prop 47 enabling shoplifters in the state
    https://www.foxnews.com/media/california-democrat-frustrated-rising-theft-admits-liberal-crime-bill-big-mistake
    😉

    Like

  4. Scott O Avatar

    No sooner do I post, do I find this bit of dark humor:
    “‘Beyond Redemption:’ Cornel West Says the Democrat Party is Unable to Meet the Needs of the Poor”
    Dear Mr West – the Democrat Party never had any intention of meeting any actual “needs” of the poor.
    What they need is a good education and a desire to be productive.
    Good luck getting that from a Democrat.
    Mr West, of course, is quite certain that even larger amounts of govt forced wealth transfer will do the trick.
    Our natl debt can stand it, right?
    https://www.breitbart.com/politics/2023/08/30/beyond-redemption-cornel-west-says-democrat-party-unable-meet-needs-poor/

    Like

  5. Individual Juan Avatar
    Individual Juan

    Fox News pundit calls Ramaschwarma criminally stupid…utterly disqualifying
    Has the GOP have found their candidate 😉

    Like

  6. Gregory Avatar
    Gregory

    Individual Ass… 131p
    What a Pelline thing to write.

    Like

  7. Scott O Avatar

    So Lonesome Johnny is a FOX news fan, now.
    Vivek wants to end the war in the Ukraine. That is “criminally stupid”?
    Uh, OK Juan.
    Juan volunteering to go fight himself?
    I hear they can make uniforms for pregnant soldiers – maybe one of the larger sizes might fit you.

    Like

  8. Scott O Avatar

    As long as I was at the Hill –
    Here’s the latest 100 million dollar grift:
    “Sen. Joe Manchin (D-W.Va.) and his daughter, former Fortune 500 CEO Heather Manchin, have pitched major donors on a $100 million project aimed at boosting centrist policies and politicians…”
    And what are “centrist policies”?
    “Heather Manchin told the WSJ. “We have been thinking about what can be done to bring people together.””
    Ah – they’ve been “thinking”. Bully for them. I guess we don’t get to know what these top secret policies are until they get their 100 million.
    More humor:
    “The WSJ spoke with several major donors who said they discussed the proposal with the Manchins, but said the Manchins have not made any specific requests and that donor meetings have consisted of “a vaguely defined future.”
    Vaguely defined, my ass – they were quite specific. 100 million dollars.
    https://thehill.com/homenews/senate/4178874-manchin-daughter-pitching-donors-on-100m-centrist-policy-project-report/

    Like

  9. 🐠 Avatar
    🐠

    Posted by: Scott O | 30 August 2023 at 04:48 PM
    …..have pitched major donors on a $100 million project aimed at boosting centrist policies and politicians…”

    Yeah…..a cushy directorship with a 100 million dollar endowment would be a lovely parting give for a senator projected to lose in his next election. Good of him and the kid to be all centrist….I mean why be divisive when you can “bring people together.
    You might say they’re purple.

    Like

  10. Paul Emery Avatar
    Paul Emery

    George
    Is the rate of the ‘exploding national debt” under Biden greater than the nearly 7 Trillion that Trump rang up in his 4 years? Obama increased the debt by 7.5 trillion but that was in 8 years. In percentage of increase Reagan is the all time champ since Roosevelt with with 160% in 8 years.
    https://www.investopedia.com/us-debt-by-president-dollar-and-percentage-7371225
    The total national debt stood at $27.7 trillion on the day of Biden’s inauguration, and has increased by over $3 trillion since then, according to the Treasury Department.
    Read more at: https://www.miamiherald.com/news/nation-world/national/article266851596.html#storylink=cpy

    Like

  11. Scott O Avatar

    Paul – our debt problem started long before Trump and very few seem interested in doing anything about it. SS and Medicare and interest on debt will sink our country.

    Like

  12. Individual Juan Avatar
    Individual Juan

    Sounds like Scott is a fan of Ramashawarma… another loud mouth BS Trump clone.

    Like

  13. Individual Juan Avatar
    Individual Juan

    Giuliani guilty as charged.
    It will be fun to see what damages are awarded to the victims of Giuliani’s lies.
    MAGAs Please Help!
    https://rudygiulianifreedomfund.com/

    Like

  14. Paul Emery Avatar
    Paul Emery

    How do you propose we deal with SS and Medicare Scott. You have defined problems now what in your opinion are solutions?

    Like

  15. fishanthrope Avatar
    fishanthrope

    You have defined problems now what in your opinion are solutions?
    Pull yourself out of “radio guy” mode and tell us how you would fix them.

    Like

  16. George Rebane Avatar

    Re investing in gold. A careful reading of my opening remark reveals that I do not recommend investments in gold. My own portfolio contains considerably less than 5% in precious metals as recommended by financial mavens. But this doesn’t mean that I will not increase this share significantly in the future.
    Re the leftwingers’ understanding of who increased our national debt by how much – to explain away this level of ignorance requires a considerable tome. Let’s just say again that the global pandemic was a significant factor that the socialist do not understand and will never admit.

    Like

  17. Gregory Avatar
    Gregory

    Individual Jeffie… smeared me as a “helicopter dad” a day or two ago and I thought I’d straighten out the record.
    I know what he was referring to… the one thing he knows about me is that I sicc’d a lawyer on an incompetent math teacher and their principal after they screwed my over my son and denied me a parent conferance, required by law if requested by a parent.
    We caught the teacher giving a fraudulent grade a full letter lower than he’d earned.
    But Jeff lavished attention on his kid. Trips to visit universities from coast to coast but ended up going to a college in Baltimore of all places.
    I suspect Jeff called me a helicopter dad because that’s what he was and is.

    Like

  18. Scott O Avatar

    Lonely Johnny 9:02 – I see the left wing inta-lektuls are making fun of people based on their non-Anglo names. Maybe Juan can knock out a front tooth so he has the look to go with his ignorance.
    “Loudmouth”?
    Because he can articulate intelligent ideas that you have no answer for?
    Nice.

    Like

  19. Scott O Avatar

    Paul 10:02 – I’ve covered this many times. Not going to keep going back over ground already covered just for the student who sleeps through class.
    One thing is for sure –
    Thinking that voting for not-Trump would help has proven to be a disaster.
    Here – I’ll throw Paul a bone to chew on:
    https://www.pgpf.org/blog/2023/06/the-2023-deficit-is-projected-to-total-15-trillion-heres-why-it-could-be-even-higher
    “However, this year’s deficit may turn out to be even larger because individual income tax revenues in April were lower than CBO expected, but not accounted for in their latest projections.”
    Receipts for cap gains will be in the toilet this year. I know I’ll probably be using losses to lower my tax bill.
    Maybe if we can flood the country with a few million more illegal “eaters” and blow tens of billions on green scams we can have a surplus!
    The Chi-Coms made a great investment with the ‘Biden Brand’.

    Like

  20. Individual Juan Avatar
    Individual Juan

    Mitch “Freeze Frame” McConnell is back!
    https://youtu.be/wHo43B6nu60?si=l86BG-N7H-Cs-jma

    Like

  21. Individual Juan Avatar
    Individual Juan

    The only media outlets I have seen where advertisers regularly promote investing in gold are the right-wing media outlets.
    Advertisers do this because those media outlets cater to the doom and gloom, sky is falling, conspiracy driven listeners.

    Like

  22. Gregory Avatar
    Gregory

    Jeffie, those media outlets also tend to attract people who invest.

    Like

  23. Scott O Avatar

    Lonely Johnny 2:30 – Hardly a lie. The “scientists” who claim it’s not true are the same ones who have been wrong about AGW from the start.
    While I wouldn’t think that many people have been killed yet because of green weenie idiocy, I have yet to see any evidence that “climate change” has killed anyone.
    If they do stop producing petroleum there will be massive starvation worldwide.
    But don’t worry – I’m sure you have your lifetime supply of Little Debbies stashed.

    Like

  24. Gregory Avatar
    Gregory

    Jeffie… do you still Trump won in 2016 because of Russian election tampering?
    There was no Russian election tampering.

    Like

  25. Don Bessee Avatar
    Don Bessee

    It starts to crumble already –
    Legal experts: Judge’s order in Mark Meadows case “could be very bad news” for Fani Willis
    https://currently.att.yahoo.com/news/legal-experts-judges-order-mark-190557801.html
    😉

    Like

  26. Individual Juan Avatar
    Individual Juan

    How MAGA Republicans are eating their young and jeopardizing their party’s chances in 2024 and beyond
    The next generation of Republican voters are “less Republican” and far more moderate than the dominant voices in the party today
    https://dellavolpe.substack.com/p/how-maga-republicans-are-eating-their

    Like

  27. Gregory Avatar
    Gregory

    Jeff, how badly will Biden lose in Nov 24?
    How many seats in Congress will go GOP?

    Like

  28. fishanthrope Avatar
    fishanthrope

    Inside Today’s Disastrous Jobs Report: 670K Full-Time Jobs Lost In 2 Months Vs 1 Million Part-Time Surge; Worst Unadjusted August Payrolls Since Great Recession
    BIDENOMICS: It’s working for you!

    Like

  29. Individual Juan Avatar
    Individual Juan

    Fish bone, That’s the Fed’s doing, not Bidenomics bonehead

    Like

  30. fishanthrope Avatar
    fishanthrope

    Posted by: Corpulent Juan | 01 September 2023 at 11:16 AM
    #sad

    Like

  31. Scott O Avatar

    Bonehead Juan – “That’s the Fed’s doing, not Bidenomics”
    Yeah, the Fed just up and raised the interest rates for no reason at all.
    Remember the “transitory” inflation? Biden and the Dems continue to print money we don’t have and the Fed has to raise the rates to combat inflation.
    And the left just wants to print more money.
    Swell.

    Like

  32. Individual Juan Avatar
    Individual Juan

    Sure Scott, Trump had nothing to do with it, Covid had nothing to do with it,
    Inflation is only happening in the United States of MAGA, not worldwide🤣😂🤣

    Like

  33. fishanthrope Avatar
    fishanthrope

    Posted by: Corpulent Juan | 01 September 2023 at 11:58 AM
    Sorry my mistake…..I forgot….everything good that happens economically is Bidenomics….everything bad….mumble, mumble …LOOK Squirrell!

    Like

  34. Individual Juan Avatar
    Individual Juan

    About Frikken Time!
    https://www.marijuanamoment.net/federal-marijuana-rescheduling-is-just-a-step-on-the-path-to-legalization-congressional-lawmakers-say/
    Only been illegal since 1937 because Anslinger wanted job security – asshole bureaucrats! The beginnings of the drug war industrial complex.
    “From the moment he took charge of the bureau, Harry was aware of the weakness of his new position. A war on narcotics alone — cocaine and heroin, outlawed in 1914 — wasn’t enough,” author Johann Hari wrote in his book, “Chasing the Scream: The First and Last Days of the War on Drugs.” “They were used only by a tiny minority, and you couldn’t keep an entire department alive on such small crumbs. He needed more.”
    https://www.cbsnews.com/news/harry-anslinger-the-man-behind-the-marijuana-ban/

    Like

  35. Scott O Avatar

    “Covid had nothing to do with it”
    It was our nation’s response to Covid that caused a problem in the first place. Hide in your room, produce nothing of value and print money. Typical idiot maneuver by the fed govt.
    If Trump had tried to stop the cash giveaways you would have gone ballistic.
    By the time Biden came into office there was no reason at all to keep pumping out money and passing all those Dem vote-buying bills.
    The Chinese love Bidenomics. Billions of “green” dollars in their pockets.
    The stock market is flat, inflation continues, unemployment is up. Gee – lets pass some more spending bills. Bail out the favored banks, bail out the idiots with their college loans. And oh yeah – quietly jack up SNAP spending – boy, Bidenomics is working swell.

    Like

  36. fishanthrope Avatar
    fishanthrope

    Only been illegal since 1937 because Anslinger wanted job security – asshole bureaucrats!
    But remember ….you guys love bureaucrats!

    Like

  37. Individual Juan Avatar
    Individual Juan

    Not really Fish, nobody loves bureaucrats that I know of. Federal , state, local government employees might love their jobs and their bennies, resulting in all the unfunded liabilities we have. But I don’t want bloated bureaucracies whose inertia results in making life more difficult for all Americans.
    The heads of all those bureaucracies are no different than Anslinger, they just want to keep their budgets fat.
    When Trump was first elected and all three branches of government were Republican run, and Republicans want to defund many existing bureaucracies, why didn’t they force a government shutdown and axe a bunch of jobs???
    Answer… because those employees live in Republican districts.

    Like

  38. fishanthrope Avatar
    fishanthrope

    Posted by: Corpulent Juan | 01 September 2023 at 01:33 PM
    Who is this? What have you done with jeffy?

    Like

  39. Scott O Avatar

    “because those employees live in Republican districts.”
    Washington DC and the areas of MD and VA where the fed workers live are Republican?
    Tell us another good one.

    Like

  40. Individual Juan Avatar
    Individual Juan

    Scott, give me a break, I said federal, state and local. You might want to check the phone book. There are bureaucracies everywhere.. army bases, DHS, prisons, yada yada yada that all employ bureaucrats across the nation.
    Capiche?

    Like

  41. Gregory Avatar
    Gregory

    “When Trump was first elected and all three branches of government were Republican run, and Republicans want to defund many existing bureaucracies, why didn’t they force a government shutdown and axe a bunch of jobs???”
    Bullshit.
    Trump his first 2 years had a weak Speaker with a bare majority in the House and a 50/50 Senate with a VP as a tie breaker.
    Barely in control and completely unable to wipe out federal bureaucracies.

    Like

  42. Don Bessee Avatar
    Don Bessee

    Try as the might the public is rejecting the global warming orthodoxy and shunning electric cars for a ton of good reasons.
    Supply of electric vehicles is far outstripping demand across the domestic UK market, forcing manufacturers to cut prices in an effort to attract disinterested drivers.
    When it came to electric vehicles, it said supply had ballooned in a way that did not match demand, causing many manufacturers to cut prices to move stock.
    “Recent increased supply of new electric vehicles appears to be exceeding retail demand, creating an imbalance in pipeline inventory coming into the key plate change month of September,” it said. “Manufacturers are reacting to this through the offer of discounted prices and supported finance rates to stimulate retail demand.
    https://www.breitbart.com/europe/2023/09/01/report-ballooning-electric-vehicle-supply-far-outstrips-demand/
    😉

    Like

  43. Paul Emery Avatar
    Paul Emery

    Gregory writes:
    “Trump his first 2 years had a weak Speaker with a bare majority in the House and a 50/50 Senate with a VP as a tie breaker.”
    Once again Gregory is standing up and supporting Trump. He’s the most consistent Trump supporter on this blog.

    Like

  44. Scott O Avatar

    Juan thinks Trump had the power to get rid of city, county and state bureaucracies.
    Hilarious.
    No wonder he’s a lefty – he has no idea of reality.
    “army bases, DHS, prisons, yada yada yada that all employ bureaucrats across the nation.”
    Army bases and prisons are needed. Of course they need to be trimmed but good luck.
    We need to go through DC and clean house. There are several cabinet positions that can be eliminated or reduced and folded into another dept.
    I’m sure at least 50% of what goes on in DC can be gotten rid of or turned over to the states. All wealth transfer payments, welfare and goodie giveaways should be eliminated from the fed govt and run by each state according to their fiscal ability and local preference. The feds should only be helping out when there is a natural disaster.

    Like