National Debt Crisis Will Destroy The USA (It Just Got Worse)

This is a great video that very clearly explains the problem.  It's only 8 minutes and worth watching.  

The problem is that the deficit over the next 10 years will be larger than the CBO is projecting because most of the tax cuts that expire in 2025 will be extended.  The only way of dealing with this is to print more money, but this will cause inflation, and the newly printed money won't be evenly distributed.  "Inflation creates a larger division between the haves and have-nots. When wealth inequality gets to a tipping point, there will be civil unrest."

It is the British Who Murder Our Presidents

 Read: https://archive.prometheanpac.com/a_police_dossier_it_is_the_british_who_murder_our_presidents

This is an article claiming that British Intelligence assassinated Presidents Abraham Lincoln, William McKinley, and JFK and are now trying to kill Donald Trump.  It sounds crazy but it could be true.  Quote: 

"The first thing to recognize is that the British Empire is and always has been primarily a FINANCIAL EMPIRE, a global system of usury, speculation, and financial dominance by the City of London. The City of London created the global system of private Central Banking in the 19th and early 20th centuries. Today, that private oligarchical system has near dictatorial control over the monetary and financial policies of almost every nation of the planet, as the fate of hundreds of millions of human beings is decided by the controllers of the Bank of England, the European Central Bank, the U.S. Federal Reserve, and similar institutions. The City of London also created, in the 1960s and 70s the “offshore banking system,” imperial financial centers outside the control of sovereign nations, which today bankroll most of the world’s business in narcotics, illicit arms sales and human trafficking."

Lyndon LaRouche died in 2019, but his organization still exists with a name change and is now called PrometheanPac.

The Franco-British Plot to Dismember Russia

 In failing to crush the Russian revolution, Britain and France not only lost a historic opportunity to “strangle Bolshevism in its cradle,” in Winston Churchill’s pestilential phrase. London and Paris had planned to carve up the Soviet Union’s vast resources, while neutralising any prospect of Moscow emerging as a major international anti-capitalist agitator. The failure of invading powers to learn lessons from the debacle, and Russia’s visceral modern day memories of the mass invasion, in no small part account for where we are today.

https://substack.com/home/post/p-146006520  

https://www.kitklarenberg.com/p/the-franco-british-plot-to-dismember 

This is worth reading.

Situational Awareness

 https://situational-awareness.ai/

AI that designs better AI.  "I make the following claim: it is strikingly plausible that by 2027, models will be able to do the work of an AI researcher/engineer. That doesn’t require believing in sci-fi; it just requires believing in straight lines on a graph. "

Archbishop Vigano versus Pope Francis

 Read: https://exsurgedomine.it/240620-attendite-eng/

In the face of the Dicastery’s accusations, I claim, as Successor of the Apostles, to be in full communion with the Roman Catholic Apostolic Church, with the Magisterium of the Roman Pontiffs, and with the uninterrupted doctrinal, moral, and liturgical Tradition which they have faithfully preserved.  I repudiate the neomodernist errors inherent in the Second Vatican Council and in the so-called “post-conciliar magisterium,” in particular in matters of collegiality, ecumenism, religious freedom, the secularity of the State, and the liturgy. I repudiate, reject, and condemn the scandals, errors, and heresies of Jorge Mario Bergoglio, who manifests an absolutely tyrannical management of power, exercised against the purpose that legitimizes Authority in the Church: an authority that is vicarious of that of Christ, and as such must obey Him alone. This separation of the Papacy from its legitimizing principle, which is Christ the High Priest, transforms the ministerium into a self-referential tyranny.  No Catholic worthy of the name can be in communion with this “Bergoglian church,” because it acts in clear discontinuity and rupture with all the Popes of history and with the Church of Christ.

Fake Space News - GDP of Mars was $395K in 1Q 2024

 When we last visited Mars and its infant export economy, the Mars Perseverance Rover has collected and packaged four more rock samples on the planet's surface over the span of another Martian quarter.  We estimate the value of the samples collected during the fifth Martian quarter the rover has been on the Red Planet to be $395,544, the middle of a range that spans from $88,624 to $702,464. Through the five Martian quarters, some 23 samples have been collected in total with a combined estimated value of a little under $2.2 million. Since the end of that fifth quarter, one additional sample has been collected, so the total number of samples at this date is 24 samples in all.  https://politicalcalculations.blogspot.com/2024/06/plans-for-exports-from-mars-go-back-to.html

Note: A Martian year has 687 earth days, so a Martian quarter has about 5.5 months.

CBO: An Update to the Budget and Economic Outlook: 2024 to 2034

 See: https://www.cbo.gov/publication/60419

My last forecast is much more optimistic than this one.  They project that Debt Held by the Public will reach 122.4% of GDP by 2034.  I am actually very similar in my forecast of Debt Held by the Public.  They predict it will be $50.7 trillion in 2034 and I predict it will be $50.4 trillion.  The difference is the GDP.  I predict the GDP will be $49.4 trillion in 2034 and they predict it will only be $41.4 trillion.  

There is some limit to Debt Held by the Public to GDP, but we won't know what it is until we reach it.  I think 150% is reasonable, but it could be higher.  In any event, the higher the ratio, the more danger we are in.

====================

Update:  Also see https://www.crfb.org/papers/trump-and-biden-national-debt

Chatterbox writes an essay about economic stability

 This essay was written by ChatGPT.

Prompt: Hello Chatterbox. Please write a short essay on whether the economic system in the United States is sustainable. If it is not sustainable, please project a year when you think the system will crash. You should look at the national debt of the United States, and the GDP. Is there a limit to how much the national debt can grow as a percentage of what the GDP is projected to be. Also please state whether you think hyperinflation or a great depression is more likely in the future.

Sustainability of the U.S. Economic System: An Analysis

Introduction

The sustainability of the United States economic system is a topic of intense debate among economists, policymakers, and financial analysts. Key indicators such as national debt and Gross Domestic Product (GDP) are critical in assessing the long-term viability of the current economic structure. This essay explores these indicators, projects potential outcomes, and evaluates the likelihood of hyperinflation or another Great Depression.

National Debt and GDP

As of recent data, the United States national debt exceeds $31 trillion, while the GDP is around $25 trillion. This places the debt-to-GDP ratio at approximately 124%. Historically, high debt-to-GDP ratios can signal potential economic distress, although the U.S. has historically maintained a high level of debt without immediate catastrophic consequences.

Debt-to-GDP Ratio: Limits and Implications

The debt-to-GDP ratio is a critical measure of economic health. While there is no absolute limit to how high this ratio can grow, excessively high levels may lead to reduced investor confidence, higher interest rates, and increased inflationary pressures. According to economic theories, when the debt-to-GDP ratio surpasses 100%, the country may enter a risk zone where debt servicing costs consume a substantial portion of GDP, potentially crowding out essential public and private investments.

Economic Sustainability and Projections

Assessing the sustainability of the U.S. economic system involves evaluating both current trajectories and potential future scenarios. If the current trend of rising national debt continues without corresponding GDP growth, the system could face significant stress. Factors such as demographic changes, technological advancements, and geopolitical events will also influence future economic stability.

Potential Crash: When and How?

Predicting the exact year when the economic system might crash is inherently speculative. However, if the debt-to-GDP ratio continues to rise unchecked, reaching 150% or higher within the next decade could be a tipping point. This projection suggests a potential crisis could occur around the early to mid-2030s if no corrective measures are taken.

Hyperinflation vs. Great Depression

When considering future economic crises, the scenarios of hyperinflation and a Great Depression are frequently discussed.

Hyperinflation

Hyperinflation is characterized by extremely rapid and uncontrollable price increases, leading to a collapse in currency value. The U.S. Federal Reserve's ability to control monetary policy and the dollar's status as the world's reserve currency make hyperinflation less likely. However, if investor confidence plummets and the government resorts to excessive money printing to service debt, the risk of hyperinflation could increase.

Great Depression

A more plausible scenario is a severe economic downturn similar to the Great Depression. This could be triggered by a combination of high debt levels, a significant financial sector crisis, and prolonged economic stagnation. Factors such as reduced consumer spending, high unemployment, and a collapse in business investment could lead to a prolonged period of economic hardship.

Conclusion

The sustainability of the U.S. economic system hinges on the delicate balance between managing national debt and fostering GDP growth. While there is no immediate indication of an impending crash, the current trajectory suggests that without significant policy changes, the system could face severe challenges by the early 2030s. Among potential crises, a Great Depression-like scenario appears more likely than hyperinflation due to the structural strengths of the U.S. monetary system and the global reliance on the U.S. dollar. Therefore, proactive fiscal and monetary policies are crucial to ensure long-term economic stability and prevent potential catastrophes.

 ==================

My analysis:  This was written by Artificial Intelligence with no input from me other than the prompt.  Chatterbox thinks that "the system could face severe challenges by the early 2030s".  It also thinks that a depression is more likely than hyperinflation.

Artificial Hallucinations

In the field of artificial intelligence (AI), a hallucination or artificial hallucination (also called bullshitting,^[1] confabulation^[2] or delusion^[3]) is a response generated by AI which contains false or misleading information presented as fact.  Another definition of hallucinations is "confident statements that are not true".

https://en.wikipedia.org/wiki/Hallucination_(artificial_intelligence)

I think this is a huge problem.  AI will become more and more common in areas such as news reporting. It is very important to verify information.

How Kanye West bought a Malibu beach house for $57 million and destroyed it

 Kanye West Bought an Architectural Treasure—Then Gave It a Violent Remix | The New Yorker

(https://www.newyorker.com/magazine/2024/06/17/kanye-west-tadao-ando-beach-house-malibu)

 ============

Here is the Zillow listing:  https://www.zillow.com/homedetails/24844-Malibu-Rd-Malibu-CA-90265/20554034_zpid/ . Houses on either side of it are worth $9.3 and $10 million.  Other nearby houses are worth $3 million to $17 million.

So, if it would cost $10 million to remodel it and make it livable, and another $1 million to pay off the lien, it would be worth about $10 million.  So the house has NO value at all.  

===============

The property taxes on this were $662,000 in 2022 and $670,000 in 2023.  I think it will probably be foreclosed on in a couple of years.

============

Update 8/10/24:  Somebody is buying it!  We will probably find out the exact selling price and the buyer in about a month.

============

The closing hasn't happened yet, but rumor has it that the selling price is $21 million.  "Belwood Investments, originally founded in Folsom, is in escrow on West’s home at 24844 Malibu Road for $21 million, according to the company’s marketing lead David Contreras."  https://therealdeal.com/la/2024/08/22/house-flipping-firm-in-escrow-on-kanye-wests-malibu-house/  So the loss is only $36 million.

Is March 10, 2025 the Date America Falls?

 See this video:  The DATE America Falls (w/100% PROOF!)  (https://www.youtube.com/watch?v=vl5qD-GXWmM)

John Williams, the commentator, thinks that March 10, 2025 is the date when everything comes crashing down.  This is because the Bank Term Funding Program (BTFP) ceased making loans on March 11, 2024 and all existing loans must be paid back within 1 year.  (The BTFP was introduced on March 12, 2023 as a reaction to Silicon Valley Bank, Signature Bank and other bank failures).  Hundreds of banks [he says 1800 banks] are insolvent and relying on the BTFP and when it ends, the crash will come.  

Quote: "They have one year one year to pay it back and so you think about this they have terms up till a year so if they took it out March 10th right right before the end they would have until you know they have 365 days until the end of the year so they have until March 9th and so when you think about this of 2025 you think about this where we're at right now we are going to see hundreds and hundreds and hundreds of banks unable to be able to pay back these uh the btfp and so these banks are going to start folding presenting a massive massive crisis that we're going to be walking into."

=========

Update:  The Federal Debt Limit suspension will expire on January 2, 2025.  While Congress always acts before the X date, it may be a few months before it lifts the ceiling again.  In 2023, the debt ceiling hit on January 19, and it was not lifted until June 3, 2023.  

In 2025, the federal debt limit will likely be frozen on March 10, 2025, so if any sort of crisis hits, Congress will be unable to act until it reaches agreement on raising the debt ceiling.

The current BTFP has a balance of about $165 billion.

Model Food Code

 For some reason I am fascinated with the FDA Food Code.  The code itself is available here: https://www.fda.gov/food/fda-food-code/food-code-2022 . This is 668 pages.

A cutesy animated introduction is available here: https://collaboration.fda.gov/decodingthefoodcode/

The Colorado Retail Food Establishment Regulations are available here: https://cdphe.colorado.gov/retail-food/retail-food-resources

Random question: Are alligator eggs considered eggs for purposes of the food code?

Answer: No.  "(1) "Egg" means the shell EGG of avian species such as chicken, duck, goose, guinea, quail, RATITES or turkey. (2) "Egg" does not include: (a) A balut; (b) The egg of reptile species such as alligator; or (c) An egg product."  Source: Food Code 2022, page 27.

But that is not all.  There is more detail. Alligators are considered fish. "(1) "Fish" means fresh or saltwater finfish, crustaceans and other forms of aquatic life (including alligator, frog, aquatic turtle, jellyfish, sea cucumber, and sea urchin and the roe of such animals) other than birds or mammals, and all mollusks, if such animal life is intended for human consumption."

Why does it matter?  The temperature.

Eggs must be stored at a temperature of 7 C (45 F) or less, and cooked to at least 63 C (145 F), if prepared in response to a customer's order.

Fish.  I need to research this more but I think they are received frozen and must also be cooked to 145F.

Deficit of $348 Billion in May 2024

 The deficit in May 2024 was $348 billion, CBO estimates—$108 billion more than the amount recorded in May 2023. The federal budget deficit was $1.2 trillion [actually $1.203 trillion] in the first eight months of fiscal year 2024, the Congressional Budget Office estimates—$38 billion more than the deficit recorded during the same period last fiscal year.  https://www.cbo.gov/system/files/2024-06/60280-MBR.pdf

Net Interest Expense for May 2024 was $91 billion ($622 - $531).  This is up from $63 billion in May 2023.

On 5/31/2024 the total national debt was $34.667 trillion. On 5/31/2023 it was $31.464 trillion. So that is an increase of 10.2% in one year (which is higher than what I think is the long-term trend of 8%).

============

As of 5/29/2024, the Federal Reserve now has a deficit of $171.9 billion, up from $165.39 billion (as of 4/24/2024).  This is an increase of $6.5 billion for the month.

3 Day Sardine Diet

 Read: https://www.yahoo.com/lifestyle/never-tried-sardine-neither-had-110239692.html

This diet was invented by Dr Annette Bosworth aka "Dr Boz".  The rules are:

 Eat only sardines in oil for 72 hours. The clock starts when you eat your first bite of sardines. “Eat as many as you like, whenever you like. There are no limits and no hunger,” Dr. Boz says.  You should only consume sardines in oil, salt, water and black coffee. Keep it up for three days. Then have one last can of sardines. “I don’t let you end the fast until you eat your last bite of sardines at the 72nd hour.”

 =============

See also: https://ketogenicwoman.com/sardine-challenge/

This is a minor variation that also allows herring and mackerel, as well as sardines packed in mustard or tomato sauce, and kippered or smoked sardines, herring or salmon. The author suggests buying 15 tins as that is how many you will consume in 3 days.

I am really interested in this, and will try it soon and update with my results.

=========

See also the 3 day tuna diet, previously described here: https://aftermath2022.blogspot.com/2020/01/tuna-diet.html

Persecution of journalist who exposed Dominion

Read: https://www.thegatewaypundit.com/2024/06/joe-oltmann-walks-deposition-eric-coomers-attorneys-after/

 So Dominion Voting Systems sues anyone who claims that their voting system is insecure.  They sued Fox News for $1.6 billion, and Fox News settled for $787 million but Fox did not apologize.  I am not sure why they settled, maybe because they thought the trial would be rigged.

But Eric Coomer, who worked for Dominion Voting Systems with the title of Officer of Strategy and Security, admitted on a videotape that was supposed to be secret, that he would make sure that Trump would not win the 2020 election.  This was exposed by Joe Oltmann, who was a journalist working for Conservative Daily at the time.

Now Coomer is suing Joe Oltmann and others for daring to expose the videotape.  Oltmann apparently infiltrated the group and listened in on a group conference call.  Coomer wants to know who leaked the info to Oltmann, but Oltmann is refusing to disclose his sources.  

Bring the popcorn, this is very interesting.

See also:   https://www.courts.state.co.us/userfiles/file/Court_Probation/02nd_Judicial_District/Denver_District_Court/Cases%20of%20Interest/20CV34319/002/1021%20-%202021-10-04%2010-53-53%20Ex%20601%20-%206%20Artricles.pdf

https://www.courts.state.co.us/Courts/Court_of_Appeals/Opinion/2024/22CA0843-PD.pdf

The defendants in the case are:  Donald J Trump for President Inc; Sidney Powell; Michelle Malkin; James Hoft and The Gateway Pundit; and Eric Metaxas.  

The Colorado Court of Appeals said that the Plaintiff had a "reasonable likelihood of success on his claims for defamation and intentional infliction of emotional distress".

 ====================

I don't have time to research this right now but there appear to be two cases: one brought in Denver District Court (which was appealed to the Colorado Court of Appeals), and one brought in the US District Court for the District of Colorado.

Zombies

 Zombies are commonly defined as companies that have failed to make enough money from operations in the past three years to pay even the interest on their loans. AP’s analysis found their ranks in raw numbers have jumped over the past decade by a third or more in Australia, Canada, Japan, South Korea, the United Kingdom and the U.S., including companies that run Carnival Cruise Line, JetBlue Airways, Wayfair, Peloton, Italy’s Telecom Italia and British soccer giant Manchester United.  

A real concern among investors is that too many zombies could collapse at the same time because central banks kept them on life support with low interest rates for years instead of allowing failures to sprinkle out over time, similar to the way allowing small forest fires to burn dry brush helps prevent an inferno. “They’ve created a tinderbox,” said Spitznagel, founder of Universa Investments. “Any wildfire now threatens the entire ecosystem.”

https://sentinelcolorado.com/1gridbiz/zombies-ranks-of-worlds-most-debt-hobbled-companies-are-soaring-and-not-all-will-survive/

Hunter Biden Laptop Report

 At https://bidenreport.com/

It is 644 pages long, with over 2000 footnotes.  It costs $50 to buy a copy.  I couldn't find a good summary so here is the table of contents.

Punishment for supporting Trump

 Read: https://www.forbes.com/sites/alisondurkee/2024/06/04/kenneth-chesebro-charged-in-wisconsin-here-are-all-the-former-trump-lawyers-now-facing-legal-consequences/

Usually, attorneys are not personally affected just because they argue a case.  Everyone understands that a defense attorney is not advocating for crime, they are only presenting a legal defense, and if they lose the case, they are not sanctioned or disbarred, otherwise no attorney would risk defending a controversial defendant.

However, with Donald Trump it is different.  Numerous attorneys and advisors are being personally punished or persecuted for having the audacity to defend him.  Here is a partial list:

Rudy Guiliani had his law license suspended, and hearings are underway to disbar him. He was also sued by Dominion Voting Systems and ordered to pay $148 million, and he declared bankruptcy.  He is also being criminally charged in Georgia.

Sidney Powell is facing a disciplinary investigation in Michigan, and is also being sued by Dominion, and she is being criminally charged in Georgia.

Michael Cohen was Trump's personal attorney and Executive Vice President of the Trump Organization.  He served a 3-year prison sentence (released in 2021) for tax evasion and campaign finance violations.  These partially relate to arranging payments of "hush money" to Trump accusers.  He is now Trump's enemy.

John Eastman was a constitutional law scholar at Chapman.  California is in the process of disbarring him, but he is appealing. He was also charged criminally in Georgia and Arizona.

Jenna Ellis was charged in Arizona and Georgia and suspended for practicing law for 3 years in Colorado.

Lin Wood was under investigation by the Georgia bar but he retired in lieu of being disciplined.

Alina Habba was ordered to pay sanctions and attorneys fees after bringing a failed lawsuit against Hillary Clinton.

Jeffrey Clark is facing disbarment in DC. He was also criminally charged in Georgia.

Mark Meadows was criminally indicted in Georgia.

Kenneth Chesebro had argued more than 100 cases before the Supreme Court. He was criminally indicted in Georgia and he reached a plea bargain.  He is also facing charges in Wisconsin.

George Papadopoulos served 12 days in prison for lying to investigators.

Roger Stone, advisor, was sentenced to 40 months in prison but had his sentence commuted by Trump in 2020.

Peter Navarro, advisor, is currently in jail in Miami serving a 4 month sentence for contempt of Congress because he believed he was bound by executive privilege.

Steve Bannon will soon serve a 4 month sentence for contempt of Congress.

Michael Flynn, a retired Lt. General, had a spotless military record before he served as National Security Advisor. He made the mistake of talking to a Russian counterpart and then lying about it to Pence.  He then made a much bigger mistake of pleading guilty to a felony about the lie.  He was pardoned by Trump in 2020.

Paul Manafort, Trump's campaign manager in 2016, was sentenced to 43 months in prison, but pardoned by Trump in 2020.

Rick Gates, Trump's deputy campaign director, spent 45 days in jail.

Allen Weisselberg, Trump Organization CFO, spent 5 months in prison.

Don Trump Jr and Eric Trump are barred from serving as corporate officers for 3 years in New York and must pay $4 million each as part of the NY civil fraud case.

Mike Lindell, who make pillows, was ordered to pay $5 million for claiming that the 2020 election was stolen.

This is not a complete list.  There is more.

I wrote this pretty quickly and probably made some mistakes, which I will correct if I find them.  But the point is that there is a pattern of prosecuting and persecuting Trump advisors.

 ==============

Update.  Add Michelle Malkin and Eric Metaxas to the list. (And Jim Hoft of The Gateway Pundit). They may have to pay hundreds of thousands of attorney fees after being sued by Dominion.

Christina Bobb, a former Trump attorney, was indicted in Arizona. She has 9 felony counts against her and could potentially spend the rest of her life in prison.

James Troupis is also being charged in Wisconsin.

==============

Tom Barrack, Trump's inaugural committee chair, was charged with, but acquitted of, illegal lobbying on behalf of a foreign government. Elliott Broidy pled guilty in 2020 of acting as an unregistered foreign agent.  He was pardoned by Trump.

X corp (formerly Twitter) petitions the Supreme Court over Trump's executive privilege

 See: https://www.zerohedge.com/political/x-urges-supreme-court-review-after-jack-smith-obtained-trump-files

The court of appeals decision is here: https://www.documentcloud.org/documents/24732656-opinion-in-x-trump-case , also here: https://www.dcd.uscourts.gov/sites/dcd/files/23sc31%20Attachment%20A%20-%20Documents%20unsealed%20with%20redactions.pdf

The petition is here: https://www.documentcloud.org/documents/24732649-x-petition

"This Case Is An Ideal And Rare Vehicle. The case is an ideal vehicle to address the executive privilege issues. These issues typically arise within the D.C. Circuit.  Thus, the D.C. Circuit’s holding is likely to be the final word as a practical matter absent review by this Court. And the case presents a rare opportunity for this Court to address the proper limits on nondisclosure orders. Although the government obtains tens of thousands of nondisclosure orders annually, very few cases challenging them ever reach the courts of appeals, let alone this Court. That reflects the immense hurdles to appellate review of these orders. Only providers can challenge them but the sheer volume that providers receive, combined with these orders’ ex parte and boiler- plate nature, make it difficult for providers to discern which are problematic. When providers do identify problematic orders, the government often agrees to modify or vacate them in informal negotiations. When the government does not so agree, providers may not litigate because litigation is expensive and exposes the provider to criticism and potentially contempt, as this case illustrates".

Nvidia soars past $3 trillion market cap

 

Nvidia stock prices soared past $1200 per share today, and the total market cap exceeds $3 trillion, putting the company up there with Microsoft and Apple.  Its probably going to keep going up until it crashes sometime in September or October.

See https://www.zerohedge.com/markets/buy-everything-sp-hits-all-time-high-nvidia-passes-3-trillion

Bad things happen when housing completions surpass housing starts

 Read: https://www.zerohedge.com/economics/apartment-construction-boom-ends-major-economic-impact-ahead

I see a 17 year cycle here (if you ignore 1980).  

InfoWars.com may be shut down tonight

 Read: https://www.infowars.com/posts/breaking-feds-attempting-to-shut-down-infowars-tonight/

Alex Jones says the Feds are coming tonight to padlock his studio doors and seize his computers.  He got sued for over $1 billion for saying that Sandy Hook was a hoax.  He filed bankruptcy, but that will not wipe out the judgment, because his conduct was "willful and malicious".  This will not be the end of Alex Jones, but it seems like the end for InfoWars.com.   The site is still live now on June 1, but it could be down tomorrow.

Update: It looks like InfoWars.com may be shut down on June 14.