The latest news.

[Ingomike]

Soaring interest costs to exceed defense spending as government faces fiscal reckoning - Washington Examiner

Soaring interest costs will exceed all defense spending this year, with the gap growing over the next decade as lawmakers stare down a looming fiscal crisis.

www.washingtonexaminer.com

Many of us have known this all along…

 

[DadSmith]

Many of us have known this all along…

It's going to hit and I think sooner than later. I think it will happen in the next decade at most.
If the Democrat's steal the coming election, and take the house, senate, and white house......

Of course RINO’s are not helping. Or maybe they are helping the Democrat's.

 

[smokingman]

Bizarre Reuters Article Warns Climate Change Is Hurting "Indonesian Trans Sex Workers" | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Give up your gas stoves and drive an electric car...it is for the Indonesian-trans-sex-workers!

The left is really 100% totally insane.

In other news after 7 failed currencies someone got a clue in Zimbabwe.

https://kitco.com/news/article/2024-04-05/zimbabwe-introduces-new-gold-backed-currency

...in other news Zimbabwe soon to be liberated and given a democracy just like Lybia's(the last country in Africa that formerly had a gold back currency).

 

[actaeon277]

The left is really 100% totally insane.

Not exactly a startling revelation.

 

[smokingman]

Thomas Hoenig, former CEO of the Kansas City Fed, former voting member of the Federal Open Market Committee, a former director of the FDIC, and now a Distinguished Senior Fellow at the Mercatus Center.

This is an extremely important interview, folks. IMO, perhaps the most significant one I’ve yet done.

Here are my top takeaways from it:

• Dr Hoenig admits the Federal Reserve has experienced substantial “mission creep” since its creation as a lender of last resort. Its track record is very much “mixed” in terms of delivering on the intent of its policies. In Dr. Hoenig’s opinion, its efforts to add stability sometimes instead only create more instability.
• While very critical of the Fed’s QE and ZIRP policies in the wake of the GFC, and more recently in the $trillions in monetary & fiscal stimulus unleashed post-COVID, Dr Hoenig thinks current Fed policy is “about right”. Though he expects the Fed to come under serious pressure soon as ebbing liquidity allows recessionary forces to build. He thinks the Fed will need to make an important decision within the coming year: return to QE and re-flame inflation, or allow a recession to occur.
• Dr Hoenig criticizes the Federal Reserve for pandering to various interests, noting that short-term thinking and pressures from Wall Street, Congress, and interest groups often lead to decisions that prioritize immediate relief over long-term stability — a sort of “We’ll act now for optics sake and hopefully figure things out later”
• In Dr Hoenig’s opinion, our fiscal policy is a runaway disaster. He criticizes both political parties of Congress for their roles in the cycle of ever-increasing deficits. Democrats advocate increased spending and tax hikes, while Republicans aim to keep taxes low but fail to curb spending. He warns of dire long-term consequences for future generations due to this impasse.
• Dr Hoenig is very worried about the current stability of the banking system (and this from a former Direct of the FDIC!). He advocates for essential reforms to address government spending, prioritize essential areas without relying on future borrowed funds or inflationary measures, and communicate transparently with the public. He stresses the importance of reducing debt growth substantially below national income growth to avoid a full-blown crisis scenario in the future.
• Dr Hoenig predicts the purchasing power of the US dollar (and other world fiat currencies) will continue to decline due to current policies and the lack of a “discipline” to money creation. Until such a discipline is restored (perhaps a return to some sort of hard backing of the currency), the dollar’s fall in purchasing power won’t abate.

Former Federal Reserve Exec Thomas Hoenig: Our Money Is Dying | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[Ziggidy]

Of course RINO’s are not helping. Or maybe they are helping the Democrat's.

Ya think?

 

[Ingomike]

Thomas Hoenig, former CEO of the Kansas City Fed, former voting member of the Federal Open Market Committee, a former director of the FDIC, and now a Distinguished Senior Fellow at the Mercatus Center.

This is an extremely important interview, folks. IMO, perhaps the most significant one I’ve yet done.

Here are my top takeaways from it:

• Dr Hoenig admits the Federal Reserve has experienced substantial “mission creep” since its creation as a lender of last resort. Its track record is very much “mixed” in terms of delivering on the intent of its policies. In Dr. Hoenig’s opinion, its efforts to add stability sometimes instead only create more instability.
• While very critical of the Fed’s QE and ZIRP policies in the wake of the GFC, and more recently in the $trillions in monetary & fiscal stimulus unleashed post-COVID, Dr Hoenig thinks current Fed policy is “about right”. Though he expects the Fed to come under serious pressure soon as ebbing liquidity allows recessionary forces to build. He thinks the Fed will need to make an important decision within the coming year: return to QE and re-flame inflation, or allow a recession to occur.
• Dr Hoenig criticizes the Federal Reserve for pandering to various interests, noting that short-term thinking and pressures from Wall Street, Congress, and interest groups often lead to decisions that prioritize immediate relief over long-term stability — a sort of “We’ll act now for optics sake and hopefully figure things out later”
• In Dr Hoenig’s opinion, our fiscal policy is a runaway disaster. He criticizes both political parties of Congress for their roles in the cycle of ever-increasing deficits. Democrats advocate increased spending and tax hikes, while Republicans aim to keep taxes low but fail to curb spending. He warns of dire long-term consequences for future generations due to this impasse.
• Dr Hoenig is very worried about the current stability of the banking system (and this from a former Direct of the FDIC!). He advocates for essential reforms to address government spending, prioritize essential areas without relying on future borrowed funds or inflationary measures, and communicate transparently with the public. He stresses the importance of reducing debt growth substantially below national income growth to avoid a full-blown crisis scenario in the future.
• Dr Hoenig predicts the purchasing power of the US dollar (and other world fiat currencies) will continue to decline due to current policies and the lack of a “discipline” to money creation. Until such a discipline is restored (perhaps a return to some sort of hard backing of the currency), the dollar’s fall in purchasing power won’t abate.

Former Federal Reserve Exec Thomas Hoenig: Our Money Is Dying | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

What would they do differently if their goal was to bankrupt the country?

 

[BigRed]

I saw NYC had a little earthquake.

Is it possible both Kommifornia and that ****hole NYC could both crumble into the sea?

Suddenly the day seems a bit brighter.

 

[AndreusMaximus]

I saw NYC had a little earthquake.

Is it possible both Kommifornia and that ****hole NYC could both crumble into the sea?

Suddenly the day seems a bit brighter.

Secession by earthquake. I like the sound of that.

 

[DadSmith]

Rumors of ‘inside job’ swirl around unsolved $30 million security heist - Washington Examiner

There have been no arrests or suspects named one week after the cash heists in the San Fernando valley. Thieves made off with $30 million.

www.washingtonexaminer.com

 

[Ingomike]

Rumors of ‘inside job’ swirl around unsolved $30 million security heist - Washington Examiner

There have been no arrests or suspects named one week after the cash heists in the San Fernando valley. Thieves made off with $30 million.

www.washingtonexaminer.com

Been discussing this here.

They Stole $30 MILLION Sunday, And Authorities Are Clueless…

“Los Angeles police say they are dumbfounded as to how thieves were able to steal $30 million from a vault on Easter Sunday without leaving much of a clue as to how they pulled it off.” “The robbery is the largest cash grab in Los Angeles history. However, California suffered its biggest...

www.indianagunowners.com

 

[DadSmith]

California House race ends in tie setting up historic three-way battle in November - Washington Examiner

California's 16th Congressional District is sending three prospective successors for Rep. Anna Eshoo's (D-CA) seat to the general election this November.

www.washingtonexaminer.com

 

[Creedmoor]

I was just on the phone with James Calhoon about getting a chamber recut, and he told me that Starline Brass was sold a few weeks ago along with a few other company's to a Texas firm.
And another friend said that the owner ( Dad ) Robert Hayden passed away just before it was sold...

Anybody heard anything?

 

[GodFearinGunTotin]

 

[smokingman]

Veteran NPR reporter blasts outlet for being dominated by far-left activists who tell readers what to think

Berliner explained that everything changed with the election of Donald Trump.

thepostmillennial.com

 

[smokingman]

They just keep spending. Interest on US treasuries passes 1 trillion this year(first year ever)...by a ton estimated to be 1.2T by December if the FED cuts rates three times, if they do not and it will be 1.6T by December. Even best case it is still a larger expenditure the social security or the military.

US Deficit Tops $1.1 Trillion For First Six Months Of Fiscal 2024 As Spending Hits 2024 High | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[GodFearinGunTotin]

Would anybody be surprised?

 

[Ingomike]

Would anybody be surprised?

I have known about this for years. The American Heart Association was nothing before the P&G money. The underpinnings were fraudulent research from a university researcher…

 

[GodFearinGunTotin]

I have known about this for years. The American Heart Association was nothing before the P&G money. The underpinnings were fraudulent research from a university researcher…

Never heard of it all before today.

 

[smokingman]

They just keep spending. Interest on US treasuries passes 1 trillion this year(first year ever)...by a ton estimated to be 1.2T by December if the FED cuts rates three times, if they do not and it will be 1.6T by December. Even best case it is still a larger expenditure the social security or the military.

US Deficit Tops $1.1 Trillion For First Six Months Of Fiscal 2024 As Spending Hits 2024 High | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

IMF Prepares Financial Revolution – Say Goodbye To The Dollar | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com