Comment on Trump on Vaccine Mandates, Biden's COVID Failures, & Ignoring Fauci
iamtanmay@wolfballs.com 3 years agoI really appreciate that you took the time to look into this and share this info. Wow, its the opposite of what I had expected. I always thought Reagan and Trump were hard core debt slashers.
What did he blow so much money on ? Don't remember him having any signature spending bills before Covid. Was all the spending just the usual budget inflation + military ?
Dollar's lost so much value since 2000, its crazy... ofc its the same with all Fiat. I can see why Bitcoin shot through the roof. No one can run the printers on that thing.
sj_zero@lotide.fbxl.net 3 years ago
The problem is that both parties have found the promises to make, and they're opposite and don't take the other into account.
Democrats promise to spend more. Republicans promise to cut taxes. Neither promise to cut spending or increase taxes (and 'on the rich' doesn't count) because that would be really unpopular!
When democrats promise to spend more you might assume they intend to pay for it with new tax. They don't. Even during good times they just increase debt.
I think most people assume when Republicans talk about cutting taxes that they mean cutting spending. They don't. Even during good times they too just increase debt.
For the most part it means you get new democrat spending and new republican spending and new republican tax cuts.
Since inflation is here, I think we'll need to see a huge paradigm shift. Rates must rise and soon, and when they do governments around the world will find their time is up. Basically all money will go directly to bankers and programs will be crippled by lack of money. The problem with socialism is eventually you run out of someone else's money.
iamtanmay@wolfballs.com 3 years ago
Bitcoin
Fed can't print it. Right now its 1% of global paper currency, after USD, EUR, Yuan (Deutsche Bank was wrong, since it didn't count Yuan, Bitcoin is #4 not #3 paper currency)
Money always moves to "rare" currency, i.e. from sea shells to silver to gold. Bitcoin will always be finite, USD infinite. You can only dilute USD for so long before its worthless
Ofc, govt's will tax Bitcoin earnings, which is still better, since they won't be able to fool people by taxing through inflation.
Taxes will be more transparent and spending more difficult when USD gets phased out. Question is not IF, but when. Upto 10 years is the prediction from many, and seeing the past 10 years of Bitcoin, its a reasonable prediction.