The American Empire Continues Its Decline

Week 17 of the Quarantine

SAN MARTIN, ARGENTINA – We read the news… and we’re staggered. Are you sitting down, Dear Reader?

This is from the Congressional Budget Office’s budget review for June 2020:

The federal budget deficit in June 2020 was $863 billion, compared with a deficit of $8 billion in the same month last year, CBO estimates. That increase stems from the economic disruption caused by the 2020 coronavirus pandemic and from the federal government’s response to it, including actions by the Administration and the enactment of four pieces of legislation.

Let’s see… In June, the feds spent nearly 5 TIMES as much as they received in revenues – $242 billion in tax receipts versus $1,105 billion (that’s billion with a capital T) in outlays.

In other words, the deficit for a single month under the “conservative” Trump was greater than the deficit for the entire last year of the “liberal” Obama.

According to the CBO, the deficit for the first nine months of the fiscal year is going to be $2.7 trillion… or $2 trillion more than the deficit for the same period last year.

Nothing to Worry About

What do you make of it, Dear Reader?

A fluke? We owe it to ourselves? It will go away when the V-shaped recovery happens?

And what of this?

While the federal government is directly or indirectly responsible for about half the economy… and the CBO reports the most catastrophic budget numbers in U.S. history… the stock market goes up!

The Dow rose 177 points yesterday. And the Nasdaq hit a new record high.

What do investors know that we don’t? That more money-printing is on the way? That it will push up stock prices even higher? That we should stop being such a worrywart and get with the program?

Deep Analysis

Apparently. Got a money problem? The solution is easy: just print up some money. That’s what the geniuses all say.

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