"An Idiot’s Tale"
by Bill Bonner
"It is a tale, told by an idiot,
Full of sound and fury,
Signifying nothing."
– William Shakespeare
BALTIMORE, MARYLAND – "Yes, Dear Reader, them vs. us… left vs. right… Democrat vs. Republican – it’s all a fraud. It diverts the masses, while the elite pick their pockets and kick their butts. Stagey… fake… full of sound and fury – the battle over the debt ceiling is just the most recent example.
It’s another “emergency,” says the elite press. Here, sounding the alarm… loud, clear, and phony… is The Hill: "A government default on credit is worse than the most terrifying disaster movies you’ve ever seen. It means the government won’t pay its debts when they’re owed. It means the total loss of trust and confidence in the United States by other governments and foreign financial markets." In three words, it will be “a catastrophic blow.”
Bossed Around: War is politics. Politics is war. The only difference is that in war, people are killed. In politics, they are only robbed… and bossed around. Both are dead ends. They produce no wealth (nothing that people really want, except the pleasure… for a few… of ripping others off). We described the phenomenon in our book "Win-Win or Lose." [Bonner-Denning Letter subscribers can download Bill’s book here. To subscribe, and receive a complimentary electronic copy, just click here.]
There are only two ways to get what you want: either honestly… or dishonestly. You either make it… or you take it. How do you take it? You can rob a liquor store. You can sell a fake crypto coin. Or you can go into politics. We saw on Tuesday how the COVID-19 virus became a political issue. According to news reports, top officials from both the Centers for Disease Control and Prevention (CDC) and the Food and Drug Administration (FDA) have resigned because they feel they are being pressured to approve the booster shots “and other things.” Apparently, “The Science” is not as sure and settled as we were told. And politics prevailed.
What Credibility? Then yesterday, the debt ceiling came front and center, with almost everyone saying what a catastrophe it would be if the politicians can’t continue to spend more than they take in. But slowing the engines of the Titanic wouldn’t have been such a bad idea. And cutting back the feds’ spending to the 2014 level (so current spending matches current tax receipts, as we suggested yesterday) wouldn’t be a disaster at all.
And here’s The Hill (member in good standing of the Ruling Elite) using the same idiotic, scary language for the debt ceiling as the feds use to sell their shooting wars: "Debt ceiling games endanger US fiscal credibility – again."
Really? How much fiscal credibility can a nation have when it spends $3 trillion dollars more than it can afford… on “investments” that never pay off… and runs up $29 trillion in national debt… and rigs interest rates to keep its debt costs low?
Keep the Racket Going: And what real harm would be done by admitting the truth – that it can’t pay its bills? It’s obvious it can neither tax enough… nor borrow enough (on the open market) to keep up with the bills. It can only keep this racket going by printing more and more money. That is, by resorting to the shadiest kind of “politics,” cheating the public with inflation, rather than taxing them directly. Which is precisely why the debt ceiling brouhaha is a fraud. Both Republicans and Democrats (all of them members in good standing of the Ruling Elite) share the same overriding desire – to keep the jig up.
And while they jump and dance for the media fiddlers, neither wants an honest budget. Neither wants honest money or honest interest rates… or an honest, “win-win” economy. Instead, they are all committed to war and politics… to taking, rather than making.
Partial Truce: CBS News reported last night that a partial truce had been negotiated: "Senate Minority Leader Chuck Schumer announced Wednesday night that an agreement to keep the government funded and prevent a government shutdown has been reached. The short-term government funding bill would keep federal agencies operating through December 3, but it does not address the looming deadline to raise the debt ceiling to avoid U.S. default."
One way or another, the debt ceiling will be smashed… the reckless spending will go on… the Republicans and the Democrats will keep entertaining us with their mock battles…and the decline of the U.S. empire will continue. More to come…"
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