Longer Step: Ideas for Justice and Sustainability

  HW Bush (the father) had honorable military and CIA service, and was the last Republican who was intelligent, honorable, and competent, though I disagreed with many of his positions. Romney comes to mind as an intelligent, honorable man, though he lost. Then there were a pair of unsatisfactory Republicans: one an idiot and the other both an idiot and dishonest: younger Bush (who tormented us when we lived in TX; his greatest failure was starting unnecessary wars in Iraq and Afghanistan, which cost trillions and permanent brain injuries in thousands of American soldiers), and Trump, a narcissistic Facist who understands almost nothing except how to berate and antagonize others for personal gain. Most of the less-educated citizens now follow that party. The Democrats fare a little better. Clinton was a moral scuz but most of his positions were good for the country (except his excessive support of Big Business), and Clinton has the distinction of being the last President who oversaw...

  I dunno. It's easy to say we're for "peace," and certainly unnecessary wars (like W Bush's foray into Iraq) were utter financial and humanitarian disasters, with no kind of success to point to. Cynics say that the US gov't does whatever it needs to, to boost the profits of the weapons makers. Mere lives are expendable. I'd like to support the (below cut-and-pasted) sentiment by World Beyond War), but it feels naive. It's catchy to say "let's spend the next $100 trillion on the needs of our own people." If only we would. The biggest reason that the US remains unattacked--the reason you don't have to worry about missiles or vengeful enemy soldiers entering your house-- is our powerful military. It's not because everyone loves us; they know we are one of the most-violent, most-meddling countries on the planet. The biggest reason Ukraine is still a free country is our military aid. Probably could say the same about Israel; not sure...

Time to harp on the deficit again. 43% of every dollar spent by our federal govt is being borrowed. The government's expenses are only 57% covered by revenue (from taxes, mostly). This is wildly unsustainable, and in a strong economy it is beyond reckless--it's criminal. In my opinion, it can only lead to the destruction of our currency, our economy, and our very country, which means of course that you and I may lose all our assets and possibly our lives. The only way to avoid this is to do what no politician is willing to even talk about: Dramatically raise taxes and dramatically cut spending. Doing that might cause a deep recession and greatly increase poverty, but it would save the country. The irony is that NOT doing it will also cause a deep recession and increase poverty, but it will further bring about the end of the US. When you've borrowed all that you can, then you are out of options. You are bankrupt; the game is over. We are close to that point. No one can kno...

  I love following the US women in the World Cup. But they played so poorly in their first three games, and Sweden (ranked #3 in the world) played so well, that when the oddsmakers came out favoring the US to win today, I knew the smart bet was on Sweden. The odds were really lopsided. The US was a clear favorite: For very dollar you bet, you would get $2.50 back if Sweden won. This was despite the facts that: The US was missing five starters to injuries; the US was missing its best midfielder due to two yellow cards; the US front was playing really lousy, uninspired soccer for all of its first 3 games in the Cup; and I thought "everybody knew" how great a team Sweden is. So I placed a big bet on Sweden to win. The game was at 2am today. SURPRISE! The US played the best soccer I've seen in maybe their last 10 games. Inspired, hard-working, driven. But they could not score against Sweden. Similarly, Sweden was outplayed on the field by the US today, but they did have some ...

 As small banks are failing due to lousy management, I've been thinking a lot about why we need banks. We actually don't. America is addicted to debt. We have to have a good credit score, in order to get a job, get an apartment lease, get a mobile phone, get cable TV service, etc. If you avoid debt in your life (as many of our immigrants do), you are significantly punished in the US. Having a good credit score has become proof that you are a reliable person in non-financial ways. Without debt in America, you are a lesser person. Think about that. 1. Isn't it interesting that a good credit score, which proves you are a trustworthy person, can only be obtained if we buy lots of stuff on credit? Meaning, if we buy lots of stuff. Hmm--I wonder if big businesses had anything to do with this system of compulsory borrowing?  2. In most other countries, people have far less debt, or often, no debt at all. It's seen as a sign of poverty, of hopelessness. 3. And "cheap debt...

  Very interesting essay by a West Point graduate: He predicts Ukraine will become part of Western Europe and the EU, with many Western innovations and West-supported rebuilding in the cards (and P.S., you don't mess with Sparta--they were bad-ass, and they didn't care if you had five times as many soldiers--they knew how to fight and win). Here is the essay. (Photo credit: Fine Art Prints)

This article in National Affairs is too long and meandering, but I love this line: " Paying off bonds with currency that is worth half as much as it used to be is like defaulting on half of the debt ." I've been thinking (and saying) for a long time that we will see inflation, not deflation, because the only way to repay the federal debt is to do it with ever-more-worthless dollars: Print too much money, cause inflation, and repay the debt with devalued dollars. Our government is stealing our future from us, in order to keep the balls in the air a little longer. But it is a sucker's game, and at some point it will become obvious to everyone that the US dollar is worthless. And all who hold their wealth in dollars at that time will suddenly realize they are financially ruined. A sane economic plan would see: a. Progressive income tax rates that raise enough money to fund the entire government's expenditures for the year; b. A vast (VAST) reduction in federal spend...

  Highly recommend Lyn Alden ; she (having a rare combination of an engineer's mind and an economist's training) is a national treasure re unlocking the mysteries of the economy; national debt; the Fed; etc. The Fed is trying to increase unemployment (you read that right), in order to reduce demand, which should reduce inflation. But that will also likely cause a recession. So if you need to make a big expenditure, it might be savvy to postpone it IF it is the sort of cost that is unusually high now but normally cheapens during recessions (e.g., using contractors to do some construction work). But if the item is subject to inflation (e.g., a new car), it's anyone's guess how successful the Fed will be in controlling inflation, and when you should buy. This entire mess could become painful and ugly. She makes the point that it's like the 1940s again for the US, except this time we are a debtor nation in decline, with a mostly-aged population demanding a heavy load ...

  I periodically warn how dire the US debt situation is. For something without significant news coverage, it is incredibly dire. Look at the simple math: 1. The US govt is spending $6.8T ($6800 Billion) a year. 2. But its revenues from taxes are only $3.8T. That is a mega-shortfall! 3. So we continue increasing the debt, to fund the difference. That accumulated debt is now larger than our GDP (and the World Bank says that's past a tipping point for disaster). US govt is spending about $600B on interest each year, which is about 8% of its budget, and rising. If interest rates rise, interest payments will go much higher, and will crowd out other spending on stuff most of us want the government to provide, such as Social Security, Medicare, food assistance, police, courts, roads. Imagine a US with only half as much spent on those programs. It is wrong to assume we can just "grow out of it," as the debt is growing faster than economic productivity gains. The fix is to raise t...